November 11, 2019
Do you lack organizational resources and collection margins within your practice or hospital? GBS assists hospitals and practices in establishing proper billing and collection methods and controls so they can reach their revenue and efficiency goals.
One of our Clients said, “We struggle to find the right staff with critical and sufficient knowledge of comprehensive revenue cycle functions. And when we do, we fear losing them and having to train others.”
Top 5 reasons hospitals and practices should consider outsourcing their billing and collections:
- Accurate Coding & Compliance – with an experienced coding team, the practice will realize an increase cash flow, while satisfying compliance initiatives through accurate and precise coding
- Clean Claims Submission – tracking error rates and providing front-end data contribute to staff re-education and improved process flows
- Denials & Appeals Management – the ability to track appeals filed to the payor in response to an erroneous denial provides tremendous value
- Patient Collections – monitoring statements of delinquent accounts is forwarded to the practice’s outside collection agency in accordance with the practice’s pre-determined protocols
- Analytical Reporting & Benchmarking – aiding the ongoing assessment of the fiscal health of the practice, analytics provides proactive identification of potential reimbursement, productivity and operational issues and aids in benchmark comparisons
If you decided to outsource your RCM (Revenue Cycle Management) services, you’ll reap the benefits of increased cash collections, improved staff productivity, quicker denial appeals, increased patient satisfaction and reduced overall costs!
GBS offers a multitude of related services, including Appeals and Denial Management, Patient Collection Services and Standard/custom reporting, as well as Comprehensive Revenue Cycle Management—all customized to meet each Client’s needs, no matter the size of their organization. Contact us to learn how we can help you!