A study of your accounts receivable performance reveals problems that must be addressed to improve net revenue, enhance bottom-line profitability, and accelerate cash flow.
Returned in Cashflow
Gorwth Rate Yearly
Higher accounts receivable can occur as a result of claim denials, poor collection culture, unwarranted write-offs, and abandoned deductibles. At PRM, we study your accounts receivable and establish causes and possible solutions.
Patient Financial Accountability
At PRM, we will study your accounts receivable and establish causes and possible solutions to strengthen your financial position and avoid any bad debts.
If you do not have a periodic procedure put into place you could be clueless about what is going on in your practice. If billing is done in-house it is unlikely that this is being looked at or reviewed.
With the help of PRM, you will have a defined process for periodically reviewing and updating accounts receivables. As a result, you know your payer issues, if your claims are growing outstanding and will be able to identify problems.
Many health care providers struggle with high accounts receivable because their primary concern is providing quality and comprehensive care to their patients.
PRM knows that the responsibility to provide quality care shouldn't prevent you from ensuring that your patients are also financially responsible for their care. In fact, it's a best practice to regularly remind your patients of their financial responsibility, whether it's sending an account balance notification or reminding them of the cost of care before treatment.
Accounts receivables management is a common issue in the healthcare industry, this is in large part due to the low transparency of their accounts. The financial statements are difficult to understand, and they are often susceptible to errors.
AR Optimization is crucial for the profitable operation of your practice. PRM will help you successfully optimize your AR by utilizing an efficient billing system and accurate and up-to-date patient information.
Whether you’re a solo practitioner, a large facility-based group of physicians, or somewhere in between, we understand the specific nuances of your business.
No matter if you’re a Solo provider, from a Mid-Sized Practice, or a part of a Large Facility-Based Group, we understand your needs and can provide the specific services and solutions to fulfill them
Based on the services you provide, we understand that your business comes with unique challenges which PRM is ready to tackle.
With our broad range of RCM services including claims submission, medical coding, and scheduling, our team is well-equipped to work with primary care providers.
OB/GYN practices need specialized RCM services like time-sensitive scheduling, and specific billing codes and modifiers for a range of procedures. Our medical coding team offers comprehensive HCFA and UB ICE-10 claims, and we offer integrated EHR services to streamline the scheduling process.
Billing staff must have a good grasp of concepts like margins, shaving, and destruction to effectively bill and appeal dermatology claims. Our experienced team ensures your claims are submitted at the highest possible value without over-coding and while curbing billing errors.
For Orthopedic surgeons, practice challenges can hinder your business cycle. Not the least of which is having an efficient revenue cycle in the form of error-free medical billing and coding that enhances your reimbursement rates. This is one of the top focuses of our team for Orthopedic practices.
With nephrology, you need a medical billing team that understands the different documentation and specific ICD-10 coding of claims and related EDI processes for nephrology. At PRM, we boast a 100% success rate on clearing claims with a dedicated Claims Denial and Appeals Management team.
As a cardiologist, you frequently work with patients who require complex procedures. PRM offers a team of experienced medical coding staff who are accurate and ensure legal compliance at every step.
If you have any doubts, we put together this simple scored quiz for you to find out… here’s the first question