Revenue Cycle Management (RCM) is a process to manage and track practice claims and payments. It requires using sophisticated software technology and specialized billing knowledge to keep track of the claims process and to increase the amount of revenue collected.

By partnering with our Revenue Cycle Management team, your staff can work productively on tasks that matter and less time frustrated over missed claims and long phone calls with insurance payers. First, your staff will control the front office of every patient encounter by entering appointments, demographics, patient insurance eligibility, and charge and diagnosis information.

Once this information is entered into ChartMaker Medical Suite, our RCM Team will handle the rest:  We’ll submit claims, retrieve next-day reports, and resubmit any necessary corrections. We will also record payments and follow up on denials, rejections, and incorrect payments. Even more, our skilled RCM team members can review your aging reports for slow pays ,uncover unpaid claims that have been purged by the insurance companies, and send bills to secondary payers. Patient bills will also be sent for you as well.

With RCM, you’ll be assigned an Account Service Manager to provide you with dedicated support and guidance. Along with helping you navigate Quality Payment Programs like MIPS, your ASM will meet with you quarterly to review and optimize the financial health of your practice.

Our Revenue Cycle Management service has the potential to help you both earn and save money at the same time. With better billing practices and dedicated support from your ASM, you can increase revenue directly. With the MIPS assistance program, you can increase Medicare reimbursements by up to 10%. And with less costs spent on labor, benefits and training for your staff, you can save thousands per year. Not to mention, you’ll also receive free software and thereby save even more money.

Here is a real example of a one physician practice in the Philadelphia Metropolitan area. Prior to STI’s Revenue Cycle Management (RCM) program this physician was doing his own in-house billing and collection. During 2013 his average collections were $33,019/month. After switching to STI’s Revenue Cycle Optimization and a ramp up period of about 90 days, his collections increased to an average of $39,782/month after paying RCM fees. To annualize this improvement, this single physician increased collections by $81,156/year. Plus, his staff now has more time for patient issues and FREE STI ChartMaker technology to better manage his practice and stay compliant with government regulations.

Note: We can’t guarantee that your practice will achieve the same increase in collections, because results depend upon a lot of factors. However, we can provide a free practice analysis, and consultation to let you know if you are a good candidate for improvement. To learn more call Joe Cerra at 610-608-0173 or see inside for details.