Many healthcare providers are under the impression they can assess their financial health by evaluating cash flow only. However, cash flow is just one factor in revenue cycle management (RCM). To maintain a healthy revenue stream, healthcare providers need to understand the other important metrics that should be calculated and reviewed when evaluating their revenue cycle.
The American Academy of Family Practice (AAFP) association has identified five key metrics in RCM that are critical to maintaining a healthy revenue stream:
- Days in Accounts Receivable
- Days in Accounts Receivable Greater Than 120 Days
- Adjusted Collection Rate
- Cost to collect – your total billing expenses as a percentage of revenue.
- Denial Rate
- Average Reimbursement Rate
GeBBS provides end-to-end, comprehensive revenue cycle management solutions for all of these metrics, including, complete billing and collections services. With 12+ years of RCM experience, our billing experts are well versed in all Medicaid state plans, managed care plans, government-funded programs, third-party insurance, and Medicare billing rules. We follow industry-standard key performance metrics to measure success and integrate best practices, so that you get the value of our proven experience and expertise.
Our Solution includes:
- PMS/EMR System and RCM Process Implementation
- Scheduling, Eligibility Verification, and Pre-Authorization
- Medical Coding
- Claims Submission (Use your clearinghouse or partner with ours)
- Accounts Receivable (A/R) Management
- Credit Balance Resolution
- Customer/Patient Access Solutions
Our A/R Management solution provides a large pool of qualified resources that can work in any practice management system and understand how to quickly and correctly analyze account history, appeal denied claims, and get timely turnaround to recover on and close out A/R. GeBBS analysts can trend denials and look for patterns of deficiency that will increase cash flow and reduce aging A/R.
As a partner to our clients, GeBBS serves as a direct RCM extension to hospitals and physician practices by leveraging our healthcare expertise, technology and qualified resources to offer comprehensive extended business office (data entry) solutions that take the worry out of the RCM process by improving your efficiency and collections while reducing costs. With improved first-pass rate, a 97% accuracy level, and guaranteed turnaround times, you can focus on growing your business and keeping your patients
healthy. GeBBS end-to-end RCM provides a complete solution to help you maintain a healthy revenue stream.