Revenue Cycle Management - solution
Healthcare firms across the nation realize that maintaining an efficient Revenue Cycle Management framework can reduce write-offs significantly and salvage around 5%-10% of revenues. Our role for Revenue Cycle Management is now essential to be able to prevent revenue leakages.
We at Panacea Pro Corporation have demonstrated significant value addition by executing end-to-end process Revenue Cycle Management value chain. We process the claims and help organizations to realize tremendous value generation.
Process quality and compliance at Panacea Pro is an integral part of our daily activities. We have stringent quality standards in place which are measured, analyzed and implemented for process enhancements. For PHI security, an essential HIPAA requirement, we have Physical, System, Human Resource, and Network audit controls in place.
- RCM: End-to-end
- Eligibility Verification
- Demographic Entries/Verifications
- Online insurance eligibility verification
- Charge Entry
- Daily claims submission and follow-up
- Real-time claims adjudication
- Primary, secondary and tertiary payer billing
- Payment Posting
- Denial Management
- Patient billing and balance reminder calls
- Insurance Follow-ups
- Comprehensive financial and practice analysis reports
BILLING
We are fully equipped to do electronic and paper billing for Medicare, Medicaid, Group Insurance (HMO, PPO, POS Indemnity), Workers' Compensation, Personal Injury and Cash payments.
We excel in medical billing for office visits, consultations, professional fees for surgical procedures, technical components, professional and facility fees for hospitals and ambulatory surgical centers, anesthesiology, hospital visits and in-office minor and major procedures. We will analyze and advise you of the advantages of facility vs. non-facility interventional procedures when it comes to reimbursement as well as optimal patient care. We keep current with insurance specifications and regulations and ensure the fees are kept at the maximum allowable reimbursement. We also focus on procedure codes so claims are not suspended or rejected.
Each EOB is carefully analyzed and appropriate credits entered for the proper claim. If necessary, immediate steps are taken in order to process unpaid or reduced claims and make sure that you receive every penny you are entitled to.
We process Secondary Carrier claims upon receipt of the primary carrier EOB making sure that you receive the maximum amount covered by the Insurance Companies and minimizing out of pocket expenses for your patients.
COLLECTIONS
Our services include collection of unpaid accounts, response to peer reviews, request for re-consideration of denied payments, Medical Dispute Resolution. We follow-up on all claims that have gone unpaid beyond 30 days and process the required appeals if necessary. We also process and mail all patients statements and focus on “soft collections” consisting of letters and telephone calls.
CUSTOMIZED REPORTS
We provide reports detailing billing transactions on a bi-weekly schedule. Our reports are easy to read and easy to understand and will give you an accurate idea of the state of your practice.
