Medicare
Apr 4, 2023
Helping practices thrive, not just survive.
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.
Verified Accountants
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.
AR Procedure
Patient Financial Accountability
AR Management
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.
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If you have any doubts, we put together this simple scored quiz for you to find out… here’s the first question
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