Are you finding it difficult to achieve smoother administrative experience and generate better revenues? Is your organization falling short of trained resources to handle your revenue cycle management requirements? Then, the best option for your organization would be to outsource revenue cycle management services to an experienced service provider. The service provider will not only help you generate better revenues by reducing operational costs but also provide your clients with a smooth administrative experience.
Flatworld Solutions provides high-quality and cost-effective revenue cycle management solutions to global customers. We can help you collect payments on submitted claims, increase the revenue from underpaid claims, and follow-up with insurance companies for quick settlements. In addition, we can also help with your medical billing and coding tasks as well as complete patient registration and eligibility verification. Leveraging our expertise can help you -
Improve your collection ratio
Increase the probability of payment
Our Revenue Cycle Management Services
Revenue cycle management has a significant impact on the way your hospital or medical practice functions. The rising cost of healthcare combined with strict regulations which keep changing regularly has made daily operations a chore for healthcare operators. A modern healthcare provider needs policies and practices in place to remain financially secure. With our customized revenue cycle solutions, you can see a visible impact on your day-to-day operations while benefiting from enhanced customer satisfaction and improved claims submission and returns.
Whether you are a healthcare provider or an individual physician, we can provide services that will meet your exact needs. Our wide range of healthcare revenue cycle management services include -
Insurance claim denials are a major pain point for healthcare businesses around the world. We can help you analyze, correct, and re-submit denied claims. This process includes identifying denials by revenue coding and CPT/HCPCS codes. Once this is done, the reason for the denials is analyzed and a detailed denial management report is prepared. In this way, you can effectively manage claim denials.
We take care of all discrepancies that result in delayed or denied receivables. Our AR professionals will identify discrepancies and follow-up with the shortcomings to ensure that healthcare providers are paid on time. Our team will follow-up on pending claims, initiate collections and track down overdue payments to maximize the cash flow.
We will identify the unpaid dues that are causing a bottleneck in your revenue cycle management system and follow-up with delinquent patient accounts. We will courteously engage patients and urge them to make timely payment of pending dues. We will also call the insurance companies to send details about rejected claims.
Checking eligibility of the patients can be time-consuming because it is a resource-intensive task. This is completely taken care of by our trained professionals who will check all medical documents, verify the patient coverage, follow-up with patients if there is a shortfall in the supporting documents. The final report will be filed for faster processing.
We can manage both electronic claims submissions as well as submission of paper claims. Our experienced team prepares the Explanation of Benefits (EOBs) and submits the claims to the insurance company.
We can also prepare monthly reports that can help you manage your cash flow and increase profitability. These include reports related to -
Charges, payments, and adjustments
Payment punctuality for different Payers
In this way, we provide a range of hospital revenue cycle management services that can help you work better.
We can help you process your patients' personal, demographic, and all insurance-related information. At each step of the process, we ensure that we verify and validate patient information. During this step, easy identification of insurance mismatch, wrong provider details, etc. can help you avoid losses down the line.
Strict regulations and increasing instances of self-pay have led to increased risk in medical coding. Our accurate medical coding services can help you create and streamline patient records within a short period of time, while accelerating physician payments. Our team is comprised of Certified Professional Coders (CPCs) accredited by the American Academy of Professional Coders (AAPC). They work in accordance with the updated standards and methodologies laid down by CMS, Medicare contractors, AMA, medical societies, and federal organizations.
Charge capture is extremely important since it helps doctors accurately record the entire information of services provided. This information is then sent to different payers and insurance companies for quick and timely reimbursement. We can process charges for multiple specialties within a short turnaround time. We have extensive experience in handling -
Third Party Liability
Preferred Provider Organizations
Our services are ideal for healthcare providers who want a 3600 outlook of their RCM system, and how it's affecting their bottom line. We create custom reports through powerful dashboards which you can access from any location and device. Our services consist of -
Charge and Payment reports
Procedure frequency and diagnosis reports
Payment reimbursement reports
Lockbox reconciliation reports
Payor analysis reports
Flatworld's Revenue Cycle Management Process
Being one of the leading revenue cycle management service providers, our team believes in providing quality services to clients within a quick turnaround time. This is possible by making use of a systematic and streamlined process. The key steps involved in our process include -
Insurance Eligibility and Verification
Insurance Claims Submission
Software We Leverage for Revenue Cycle Management Services
Having been in the healthcare industry for over 16 years now, we understand the exact requirements of the client and provide the services accordingly. We leverage some of the best and latest tools and technologies to deliver quality revenue cycle management services to clients. Some of the tools we make use of include -
Benefits of Outsourcing Revenue Cycle Management Services to FWS
When you outsource revenue cycle management services to us, we ensure complete reliability and peace of mind for the duration of the project. From the front desk to the back-office, our experience in working with some of the world's leading healthcare providers allow us to provide customized services based upon your requirements. Some of the benefits of partnering with us include -
Our custom-designed RCM system can simplify your billing and collection cycle while allowing you to easily register, appoint, process, and schedule the payment
Our revenue cycle management software can easily communicate with your in-house EHR system and other accounting systems
With our support team of experienced individuals, you can easily bridge the business and clinical aspects of your healthcare or medical practice
All your patient and healthcare data are securely stored in the cloud so that you and your employees can easily access them whenever required
Our RCM system reduces the time gap between providing services and receiving payment by ensuring all the insurance providers are notified and followed up with routinely
Our system also has built-in capabilities to capture incorrect insurance information or previously flagged information to reduce the number of denied claims
It allows your healthcare staff to enter the required information for claims processing while avoiding resubmission of claims
You can leverage our inbuilt data dashboards to gain a top-down perspective of your current business and where the process might be slowing your overall growth
Why Outsource Revenue Cycle Management to Flatworld Solutions?
The need for continuous, reliable RCM process services has now reached a tipping point. Shrinking reimbursements are just the tip of the iceberg, as healthcare providers lose time, money, and employee hours chasing an insurance payment within their turnaround time. At FWS, we believe in approaching this problem in a holistic manner and inspect all parts of the service - from payer credentialing to billing and collection so as to ease your workload and give a massive boost to your business. Some of the main reasons why global healthcare providers choose us as their partner include -
Flatworld Solutions has been a pioneer in providing quality revenue cycle management services and a series of other healthcare services. We are committed to building lasting relationships with our customers. Our revenue cycle management services put your needs first. We have extensive experience of working with global clients, which gives us the knowledge that can help you achieve accelerated growth and improved process efficiencies. Contact us to outsource revenue cycle management services.