Revenue Cycle Management

MAXIMIZING REVENUE, IMPROVING PRODUCTIVITY, AND ENHANCING PATIENT ENGAGEMENT

Healthcare Revenue Cycle Management Services for End-to-End Solutions

Engaging patients, driving a healthy bottom line, and enhancing efficiency are some of the biggest challenges healthcare organizations face in the wake of growing competition and surmounting operational costs. However, having a patient-focused revenue cycle management (RCM) solution can help you overcome these challenges and improve your revenue.

A healthcare revenue cycle is ordained with complex, mundane, and challenging processes and procedures that need proper financial management by experts throughout your patients’ healthcare journey – involving patient, payer, and contributors. We can help you cut down revenue losses with our patient-focused revenue cycle management solutions, complete with state-of-the-art patient engagement.

Our expertise in healthcare debt collection encompasses an in-depth understanding of recoupments, appeals, denials, and much more. With state-of-the-art automation technology and resources, we help you enhance your revenue through improved debt collection. Our technology, experience, domain expertise, and multichannel collection approach align 100% with the collection of every dollar you earn. We ensure that each step of the revenue cycle goes seamlessly, resulting in maximized revenue and heightened patient satisfaction.

Featured Services

What Makes Vital Your Ideal RCM Partner

Patient-Registration

Patient Registration

As a reputed debt collection agency, we offer our healthcare clients a wide range of medical and healthcare debt recovery functions while adhering to industry compliances. We help you recover all your money using a multichannel communication approach.

Insurance

Insurance Eligibility, Verification, and Authorization

We deploy resources, technology, and our experience to ensure correct determination of your patient's insurance eligibility. It results in an improved clean collection ratio, fast-tracked care for patients waiting on eligibility verification, and boosted collection and profitability.

Charge

Charge Capture and Medical Coding

Our company helps you in accurate claim submission through timely and thorough charge capture. We evaluate the documentation and recording of your services during a patient's healthcare journey. We denote a monetary value to those services based on medical coding and fee schedules, which minimizes the risk of revenue leakage.

Claims-Management

Claims Management

Our specialist will handle all aspects of claims management, from submission to denials. This process includes preparing accurate claim documentation in payer-specific format, timely submission of a claim, tracking the claims in real time, and ensuring maximum settlement. In addition, we automate the process to have a seamless and improved revenue recovery.

Denial

Denial Management

Vital Solutions includes experts who analyze and appeal denied claims. The experts help reduce the risk of lost revenue and improve your company's cash flow. In addition, we utilize vital features with quality medical billing solutions and quickly manage common errors in your coding.

Payment-Posting

Payment Posting and Reconciliation

When the healthcare payer has reviewed the claim, reimbursement is on the way, and the out-of-pocket cost is posted for the patient to pay. It's a medical billing process for recording communication of insurance decisions against the claim on a line-by-line basis.

rcm

Accounts Receivable Management (Patient Billing and Collections)

Our team will follow up on outstanding claims, ensure timely payment, and resolve any issues that may arise. We track the outstanding accounts and initiate a streamlined collection process to improve your cash flow and reduce the risk of lost revenue.

Patient-Engagement

Patient Engagement & Follow Up

Patient engagement plays a crucial role in collection success. Our team is constantly in touch with your patients during the collection process, following up with them – building a stronger patient-healthcare provider relationship while maximizing revenue.

Analytics

Revenue Cycle Analytics

We help you gain important insights about your patients by analyzing your revenue cycle transaction data. These insights can help you optimize revenue cycle operational and financial performance.

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    Frequently Asked Questions

    Revenue cycle management covers a stepwise process to manage healthcare processes associated with claims processing, payment, and revenue generation. It comprises all the functions from creating a patient account to collecting payment.

    Revenue Cycle Management plays a significant role when it comes to day-to-day healthcare operations. RCM ensures that the providers stick to policies and practices in place to streamline the billing and collection cycles and stay financially fit.

    The Healthcare RCM process comes with several steps. This includes,

    • Patient enrollment/registration
    • Insurance eligibility verification and prior authorization
    • Medical coding
    • Medical billing
    • Payment posting
    • Accounts receivable management
    • Reporting

    Revenue Cycle Management can be complex to handle. With multiple processes, they ensure,

    • Reduced operational costs
    • Reduced risk of medical billing errors
    • Improved regulatory compliance
    • Streamlined financial processes

    Many states require debt collectors to be licensed. A debtor may always check the information the caller provides with the state attorney general. The state regulator may be of assistance when understanding whether a debt collection agency has the right to collect.