Busting 5 myths about revenue cycle management services
Today there are many steps to processing claims, and each one is an opportunity to gain or lose money. Practices are weighing the pros and cons of different approaches to managing their revenue cycle, including relying on experts from outside their organizations.
Arbor Family Medicine (Westminster, Colorado, U.S.A.) Office Manager Mikie Gonzales talked about her experience with Allscripts Revenue Cycle Management Services™ (RCMS) in a recent interview:
Gonzales discussed some of the myths that surround decisions to bring in a revenue cycle management services partner. Her experiences are similar to other clients and “bust” some of the most common myths:
Myth #1 – We’ll lose control of our billing activities.
As responsibility for claims – from submission to sorting out denials and beyond – shifts to a services partner, some practices fear that they are also giving up control. However, the real-time information and expertise actually improves a practice’s ability to control all aspects of their revenue cycle.
“When we started using Allscripts RCMS…we thought we were going to be losing a lot of control and that we weren’t going to be as involved in the day-to-day stuff. Turns out it is actually the opposite. We get weekly calls with our account manager, where we go through all of the details of what they’re doing, how they can help us, make plans on how to fix everything that we’re not doing correctly. They run these great reports that we wouldn’t have access to otherwise that really help us with the way that we improve the practice.”
Myth #2 – It’s cost prohibitive.
While there are fees associated with bringing in a services partner, the benefits can far outweigh the costs. Overall the Allscripts approach can reduce challenges that plague claims processes. It can increase revenue and decrease costs by reducing challenges, such as missing referrals, missed appointments, inaccurate registration, coding errors, missing claims data and re-working denials. A partner that manages the full revenue cycle can enable additional cost benefits.
“Using Allscripts RCMS, there is definitely a decreased cost in what we are paying….this has happened through simplified invoices…we’re not being ‘nickeled and dimed’ like we were with our other vendor.”
Myth #3 – It’s a big change that will take a lot of time.
The first step for RCMS is an onboarding process, is to assign a dedicated Allscripts account team that understands the unique needs of the practice. The transition is relatively smooth and typically complete within 45 and 90 days. Arbor Family completed a successful transition to RCMS at the same time as the largest mandate in U.S. healthcare history.
“We decided to start with Allscripts Revenue Cycle Management Services on October 1, 2015, which is actually the day that we went live with ICD-10….We figured if you’re going to do something big, make a big change, why not jump all in instead of going slow…it was really a very smooth transition.”
Myth #4 – We already have a good handle on what we need to do.
Everyone has a blind spot or two, and the same principle applies to the revenue cycle. Through comprehensive analytics and the help from a revenue cycle management service provider, data can reveal new insights to a practice’s financial performance.
“The major benefits of the analytics that we have that we have received is that they found out that we were actually undercharging for a lot of things, that our schedule was not up to date. They have worked really hard to help us get all of the money that we were owed from a couple of different payers that we were undercharging for years and didn’t realize.”
Myth #5 – With a big company, it’s harder to get the help you need.
It depends on the company providing the services, but Allscripts provides a dedicated revenue cycle account manager to ensure customized service.
“We know that Allscripts is a large company, but it feels like a small company, because you get an account manager… What I like best about working with Allscripts RCMS team is that it is very personalized. We have reps assigned to us that we know are always there for us.”
Thanks to Mikie Gonzales for sharing her insights and experience with Allscripts RCMS. To learn more, contact us.