As part of our mission to promote a culture of collaboration and effective patient management across the entire continuum of care; to produce exceptional clinical outcomes, reduce costs, and consistently achieve the highest level of patient and family satisfaction while enjoying a distinction for value within the community and across the region we continually strive to provide our Practice Partners with opportunities to become more efficient and profitable.
RCMPbrings an a-la-carte offering of state-of-the-art Practice Management services. RCMP has offices in Coral Gables, Florida and serves clients Nationwide.
RCMP is a full-service Practice Management Company where your bottom line is our bottom line; we will make your Practice more profitable. RCMP shares in the same principles of quality, integrity and profitability. RCMP customizes its a la carte services to fit your specific needs and takes total responsibility for the financial health of your practice. On average, RCMP increases Monthly receipts between 10%-22%.
Consulting (i.e. System setup/implementation, compliance training, enrollments, etc.)
Are you maximizing your Practice’s performance and profitability?
Is your collection rate 95% or higher?
Are you collecting what’s due to you?
Is it a headache to maintain and supervise your billing & collections staff?
Do you have efficient workflows that maximize your Collections?
If you answered YES to any of the questions, let RCMP assess where you stand, without compromise, and make an informed decision about your best options going forward.
Factors That Affect Performance of Your Practice's RCM
Advantages of outsourcing your RCM to RCMP, Inc:
Billing And Collection Errors
Medical billing and collection errors account for 80 per cent of problems in RCM. Billing errors include upcoding: where entering the code of a more serious medical condition than what was treated inflates the bill; similarly, unbundling, balance billing or leftover billing, duplicate billing, incorrect patient information, and mismatched diagnosis codes also affect RCM. When there are errors in billing, it is difficult to ensure collections from patients.
Charge Capture
Charge capture is the core of a medical billing cycle. Without frequent updates to prices for services, the charging and billing can go very wrong. An up-to-date and error-free electronic charge capture system and a good process for management of charge capture can ensure there are no errors. In the absence of electronic charge capture, mistakes can definitely creep in.
Coding Errors
Due to the vast compliance standards, it is very tough for providers to code precisely. ICD-10-CM requests to document diagnoses frequently lead to errors in diagnosis codes. The usage of generic diagnosis codes, incorrect modifiers, and under-coding also contribute to errors.
Denial Management
Denied claims from billing errors, incomplete information, and questions about patient coverage make the RCM weak. The reworking of denials is costlier than the submission of a new claim, and the challenges only compound as organizations grow.
Lack of Expert Resources
Many healthcare facilities struggle to find the right workforce with sufficient understanding of revenue cycle functions. Without a good team of revenue cycle management experts, the denial claims queue grows longer, and there will be a lot of unaddressed claims in the workflow.
Lack of Team Training
Though finding the right RCM trained staff is a big challenge, hiring them is not the end of the road. The workforce should be trained adequately to prevent frontend errors. Lack of training can also make staff easy targets of cybercriminals and turn them into security liabilities.
Failure to Scrutinize Claims Process
The entire claims process life cycle requires a close watch. Checking claims is a vital part of a healthcare provider’s RCM processes. Best care practices like obtaining automated alerts for claim denials and tracking and analysis of repetitive denials for a particular procedure or code are required.
Staff Cost and Headaches
An RCM company doesn't go on vacation or call out sick. Additionally, you pay a percentage of what's collected so the incentives of the Practice and RCMP are aligned.
CONTACT RCMP TODAY 305-504-7002
AND FIND OUT HOW RCMP CAN HELP YOUR PRACTICE BECOME MORE EFFICIENT AND PROFITABLE
