EL Medical Billing Solutions Podcast

Revenue cycle management is a vital part of your office's success. Click here to learn how to hire the best revenue cycle management team for your practice. Considering that the revenue cycle management (RCM) industry grew to more than USD 126 billion in 2021, it makes sense that RCM teams should be high-quality. But what should you be looking for when hiring the best revenue cycle management team for you and your projects? There are many revenue cycle management team options to choose from, and some may be better than others, depending on what you're looking for. Keep reading and learn how to choose the best revenue management team for your needs. Team Structure Team structure is very important when choosing a revenue management team. Team structure has everything to do with the number of people in a revenue management team and how those members interact with each other. First, you should consider how many members you want your team to have. Having too few members will render the team inefficient. On the other hand, having too many members could get cumbersome and expensive. Instead, you will want to find a happy medium of 6 to 10 members or so. However, this number may be slightly larger or smaller depending on the volume of work you need to be done. Once you figure out what kind of team structure you want, it will be much easier to narrow down your team choices. Keep in mind that the individual experience and expertise of each team member are also important. Some team members may be more skilled in certain fields than others. This variation is important to ensure that your revenue cycle management team can tackle all sorts of problems without being stunted. It will also ensure that your team is well-rounded and able to take on virtually anything you throw its way. Skills and Communication Without the right skills, a revenue cycle management team won't be able to accomplish much of anything. Before hiring anyone, you'll want to ensure that a given team has all the skills you're looking for. Otherwise, you might find that your team isn't measuring up to the expectations you had planned out. In the same vein, you should make sure that your team is trained in the correct way. As long as the team is trained, the team members shouldn't have any trouble completing their usual tasks. Good training will also make sure that ordinary work flows smoothly and that there is little to no interruption between work tasks. Finally, you should consider the quality of communication before hiring a team. Communication is important for a variety of reasons. If team members can't communicate with each other, it will be very difficult for the team to complete a task even if they are all individually skilled. It is also important for the team to communicate with you. That way, you can keep track of the productivity of the team and if the members are working as they're supposed to. How To Hire a Great Revenue Cycle Management Team Hiring a revenue cycle management team isn't as hard as you might think, but there are a few factors you need to consider. For example, you should always make sure that the team has the right skills, good communication, and team structure. To learn more, click here.

Are you looking for a local claims submission company that you can trust? Click here for the ultimate guide to choosing a claim submission company near you. 29 percent of medical claims are denied with $0 paid. More than 50% of these claims are never reworked and reworking a denied claim costs your practice. Outsourcing medical claims submission can help reduce the incidence of rejected claims and save you money. But how do you choose the right company? Keep reading for our ultimate guide to choosing a claim submission company you can trust. Get On the Same Page About Communication One of the biggest concerns practices have about outsourcing medical claims to a claims submission company is that they won't have good communication. Outsourcing claims submission makes it more challenging to communicate and ask questions, especially when you need a quick response. When you're choosing a claim submission company, be sure to ask what you can expect as far as communication goes. Ask how quickly they respond to calls, emails, questions, and requests. If you need an answer right away, will they be there? The right claim submission company will make sure you know you can trust them with submitting a claim and communicating with you about any issues. Look for Relevant Experience If you have a specialty practice, you want to make sure the claims submission company you use has experience with that specialty. Some medical claims companies can handle multiple specialties and some focus on just a single area of practice. It's up to you to decide whether you want to go with a company that handles multiple fields or just one, but whoever you choose should have experience in your specialty area. Ask About Rejected Claims Rejected claims are a huge problem for healthcare practices and it's reasonable to be skeptical about handing that responsibility over to someone else. Rejected claims can cause significant revenue loss and many medical billers fail to edit and resubmit claims that have been rejected. When you're considering a claim submission company, you need to ask them how they handle rejected claims. What is their process for resubmitting rejected claims? You should be able to trust your medical claims submission company to do everything they can to get you the money you deserve. You can even ask them about their rejection rate. A low rate of rejected claims is a good sign that they are coding and billing correctly. Research Reviews When you purchase any product or service, you should do some research to make sure you're making the right choice. When it comes to medical claim submission companies, you can learn a lot by looking online for reviews. Search for reviews from current and former clients to learn more about a company's reputation. You can even ask them directly for references and testimonials from happy clients. Do You Need Help With Claim Submission? If your practice is looking to outsource claim submission, you've come to the right place. When you outsource medical claims, you free up resources so you can focus on providing a better patient experience. You'll also reduce the risk of billing and coding errors and rejected claims. EL Medical Billing Solutions is just a phone call away. Click here to contact us today for a consultation to learn more about what we can do for your practice.