RCM is arguably one of the most critical components of your practice’s operations. Without it, revenue would be inconsistent, and the practice would not be sustained. However, there are several potential issues with RCM that occur due to IDR processes.
Inefficient or incomplete RCM can result in significant revenue loss. Errors, missed filing deadlines, stagnation, and more all contribute to RCM losses. These issues can be compounded by No Surprise Act requirements for Independent Dispute Resolution (IDR), which requires precise reporting and offer calculation.
Over time, RCM loss can create an unstable work environment and may even force a practice to close. Your practice can minimize RCM loss and improve the patient experience. However, it may require assistance, new systems, or both.
RCM system transition can be challenging for practices, particularly if they try to do it themselves without expert assistance. The transition must be seamless, or nearly so, to patients and payers. Otherwise, the disruption can hurt your practice.
The benefits of transitioning to new RCM technologies generally outweigh the hassles of transition when handled by an expert. Newer software programs and systems offer more opportunities to improve revenue collection through various mechanisms.
Active RCM leads to revenue maximization when applied correctly. Many tools are available to your practice, and they all contribute to revenue maximization. From something as seamless as patient registration to proper medical coding, maximization starts in your offices.
In many cases, maximization also means bringing in a revenue cycle management IDR specialist. Such a specialist can help your clinic leverage the IDR system and maximize what your clinic gets out of each IDR process for out of network claims.
NSB offers decades of experience and intuitive process streamlining to support all RCM maximization. Our specialized staff focuses on RCM, from aggressively employing the NSA IDR system to implementing new systems so your staff can better support your RCM goals. We recognize that solid RCM systems secure the future of your practice, and we’re here to help.