Dear Doctor, thanks for your interest in our Newsletter. RCMP has been extremely successful implementing practices nationwide using various Billing/EHR systems and providing Revenue Cycle Management (RCM) services helping providers collect the highest possible reimbursements, in many cases bringing practices revenue up (sometimes by 15%–20%).
RCMP is pleased to offer you a better solution and a more efficient and effective alternative to your current Practice Management; because of our experience and commitment to your success, we are able to start working with you and assume responsibility of your entire revenue cycle management cycle as soon as you require so without any learning curve or disruption to your cash flow.
RCMP's advantages:
RCMP has extensive experience with most Medical Specialties
RCMP is Practice Management company with over 15 years of experience
RCMP uses your existing PM/EHR system so there are no conversion or transition issues
RCMP woks with eCW, Meditouch/NextGen, Kareo and others.
RCMP, on average, increases Monthly receipts between 15% and 20%
RCMP exceeds the MGMA’s benchmark of a collection rate of 95% for our clients
RCMP will get rid of your day-to-day headache of billing & collections and manage you’re A/R proactively
RCMP provides customized Monthly Practice Performance Reports
RCMP's Agreements are not long term and don’t require cause for termination
RCMP's first pass rate for clean claims exceeds 98%
We are very confident that we are the perfect partner for your practice management needs and that we will make your Practice more efficient and profitable. Our philosophy of quality, integrity and results are aligned with your high quality standards.
CALL US TODAY AT 305-504-7002
TO DISCUSS HOW RCMP CAN HELP YOUR PRACTICE BECOME MORE PROFITABLE
Have you uploaded the 2020 CMS Fee Schedule yet?
Is your Collection Rate >90%; or don't know it?
Revenue Cycle Management is a process that starts at the moment a patient schedules an appointment or walk-in to your office.
Do you have efficient workflows that maximize your Collections?
Is your RCM following MGMA Benchmarks?
Does your billing company:
Know they need to check outstanding accounts receivable and compare to the standard?
Know the basic billing benchmarks?
Hopefully your organization answers "yes" to both! If not, here are some practical tips and best practices for your billing company when it comes to benchmarks.
Start at the Beginning
The famous adage "if you can't measure it, you can't manage it" holds true in so many facets of our lives. Would you buy a used car if you did not check out Kelley Blue Book to see what it was worth first? Would you buy a big-screen TV if you did not review the competitors for the best price? In a similar vein, what do you compare your total accounts receivable and days in accounts receivable to? In various industries, we compare one piece of data to another. In business processes and performance metrics, we call that benchmarking.
Benchmarking is the continuous process of measuring and comparing performance internally (over time) and externally (against other organizations and industries).
What are the basic billing benchmarks you should review?
Let's start with the percentage of accounts receivable (A/R) in each aging category. When reviewing this particular benchmark, your company wants the majority to be in the 0-30 days in A/R category. After that, the percentage should be lower as the receivable ages. When benchmarking days in A/R, you want to compare yourself to the mean (or average).
If you or your billing company is not benchmarking your Practice's RCM performance you need to talk to our experts.
