Get in touch with us today and we will walk you through our process.
Our process of gaining control over your revenue cycle starts prior to commencing our partnership with you.
From the time of our first meeting, until the day we receive information to bill out your first charge, we are involved to help make sure there is a seamless transition to IV Medical. We even do a pre-evaluation of the financial end of your business so we can pin-point any potential issues.
Due to the heavy financial background of our partners, both being CPA’s, IV Medical takes an approach unlike other RCM companies. This is not just about sending out a claim and posting payments. This is about forming a business alliance with all of our clients.
We are completely invested in your cash flow and it’s efficiency.
Within our process of collecting your claims, we work closely with the doctor(s) and office staff, making sure that all information is right from the start. Prior to starting, our trained staff verifies credentials for all doctors, NP’s, PA’s and other billable staff. This is a very important starting point, as many denials come from credentialing issues. We also review front desk procedure, including benefit eligibility and verification process, authorization process, collecting copays, deductibles and co-insurance as well as any other front desk issues that arise from our review.
Our process, of course, continues with the review and submission of claims, along with coding if contracted to do so, as well as posting of payments, denial management and a follow-up on unpaid claims.
Another important part of our process is the reviewing of the financial data extracted from each practice management system, as well as our ability to relay those findings to our clients.
We work with our clients to improve their processes, which, in turn, will improve their cash flow. We even go beyond RCM issues and aid in overall budgetary and cost related issues when needed. Our process leaves no room for mismanagement or poorly handled situations. Instead, each step is critically evaluated to ensure that it’s accomplished the proper way. Because we’re so well-versed in the entire process, your revenue cycle will be managed correctly without any interruptions to your practice.
A very important aspect of our process is that we are structured in a team basis on each account, thereby having a segregation of duties.
For instance, each main function on an account has a different person handling that responsibility. This creates a system of checks and balances which helps maintain a well-functioning account. Not all medical billing companies operate by this efficient method, which can easily lead to errors concerning your account and cash flow. Furthermore, our method ensures that we’ll optimize your revenue cycle when applicable, due to our individualized attention. Our company’s enhancement to your practice is something that simply cannot be replicated when revenue cycle management is done in-house.