Top Healthcare Revenue Cycle Management Consulting Companies
List of Top Healthcare RCM Consulting Companies
Revenue Cycle Management (RCM) plays an important role in the healthcare industry. Managing revenue is vital for any business but may not be the primary focus of healthcare providers. However, these providers need revenue to pay for medical supplies, salaries, equipment, and more.
Revenue Cycle Management is how an organization handles the finances and processes associated with different steps of patient care from start to finish. It begins when a patient is first encountered or scheduled for an appointment and continues through the services provided to the billing afterward. Patient scheduling offers the opportunity to gather information vital to the claims process, such as insurance information, to verify eligibility.
The healthcare revenue cycle process includes coding medical services and billing insurance. Making sure that patients have eligible insurance on file can help in determining costs for various treatments. Faster and more accurate claims transmission allows for greater flexibility in arranging patient care.
There are many benefits to efficiently managing your revenue cycle. The overall goal is to increase revenue throughout the various processes by first identifying points of friction and then resolving them.
These problems may include fraud, waste, and abuse such as unnecessary tests and procedures. For some healthcare providers, revenue and finances are not the primary concern. Some may be more focused on patient care. Problems and issues with an RCM process in healthcare can impact various other processes and take time away from patient care or medical training. Making optimum use of such cutting-edge technologies, healthcare organizations today are reducing the number of denied or underpaid claims for practices and cutting back on operational expenses through increased efficiency while placing customer service at the forefront of RCM.
In this Article, Healthcare Tech Outlook Magazine features list List of Top Healthcare RCM Consulting Companies.
Top Revenue Cycle Management Consulting Companies:
- HealthTeq Services
- MedXPrime Revenue Recovery
- Passage Health International
- Synergy Billing
- Blue Eagle Consulting
- Enhanced Revenue Solutions
- Medical Billing Choices
- MTBC
- R1 RCM
- Signature Performance
HealthTeq Services
Company
HealthTeq Services
Headquarters
Bradenton, FL
Management
Ritesh Shah, CEO
Description
HealthTeq Services is a healthcare outsourcing organization that assists companies with revenue cycle management (RCM) solutions to reduce denial rates and increase returns. With the recent changes in the medical guidelines from ICD-9 to ICD-10, managing medical billing has become complicated, thereby resulting in higher denial rates. To streamline the billing for healthcare providers, HealthTeq Services developed a proprietary software that leverages artificial intelligence (AI) and blockchain technology, empowering hospitals to conduct patient insurance eligibility check, claims scrubbing and submission, payment posting, and denial management. The firm executes these operations by deploying an AI-powered bot that gathers information from claims and rectifies them
MedXPrime Revenue Recovery
Company
MedXPrime Revenue Recovery
Headquarters
El Dorado Hills, CA
Management
Sunil Wadhwa, CEO
Description
MedXPrime is Focused on revenue cycle management and collection of old Accounts Receivable (A/R) through analysis and formulation of effective plans of action for A/R clean-up. MedXPrime Revenue Recovery’s special differentiator is an initial, no-cost, detailed sample analysis of aged accounts receivable. This report often causes doctors to say “WOW” as they review it with them on a follow-up online presentation. Because of this, the company has coined this is as their ‘Wow Report’. This analysis is delivered online within 48–72 hours after mr2 gets the green light to prepare the report
Passage Health International
Company
Passage Health International
Headquarters
Oakland Park, FL
Management
Eindar Khant, CEO
Description
Passage Health International (PHI) is an international medical receivables management company that also acts as a partner for supervising international insurance claims. By activating PHI’s full-fledged medical accounts receivable services, hospitals can simplify the entire journey of processing claims for international patients — from verifying insurance benefits to the eventual collection of payments from insurance companies, or even self-payments from patients. Regardless of the situation, PHI — one of the Top 10 Revenue Cycle Management companies of 2019 — ensures that its hospital partners are paid accurately, and quickly, for treating foreigners
Synergy Billing
Company
Synergy Billing
Headquarters
Daytona Beach, FL
Management
Jayson Meyer, Founder & CEO
Description
Synergy Billing helps Federally Qualified Health Centres (FQHC) to maximize revenue and improve business processes and has been successful in processing the claims within the first 30 days. Synergy Billing specializes in revenue cycle management and consultation. The company caters to the payer’s requirements, receives claims data, and ensures that claims get paid the first time. Evidently, the results have yielded more revenue faster than ever. One of the top revenue cycle management companies, Synergy Billing is backed by high-performing team members, who are well acquainted with the nitty-gritty of the revenue cycle management. Synergy Billing’s 4-week training program assists participants in learning about the industry, the company, and the Synergy methods for expert claims processing
Blue Eagle Consulting
Website:
http://www.blueeagle-consulting.com
Headquarters:
Birmingham, AL
Founded:
2004
Blue Eagle Consulting (BEC) offers healthcare organizations with people vital to the anticipated performance of big software assets. Blue Eagle Consulting (BEC) facilitates employees with the necessary software abilities and abilities to manage critical patient data in contemporary complicated working conditions. Blue Eagle Consulting provides advisors to assist essential apps of the company to be implemented or maintained. They don’t sell the software or other instruments; they give customers the individuals whose expertise and expertise create everything functions for the industry — for the data they want every day
Enhanced Revenue Solutions
Website:
https://www.enhancedrevenuesolutions.com
Headquarters:
Spring, Texas
Founded:
2008
Some of the most creative, reflective minds in medical billing have developed Enhanced Revenue Solutions. Their customer-centred strategy provides an unrivalled amount of dedicated knowledge to help medical suppliers move forward with higher economic stabilization nationwide. The dedication of Enhanced Revenue Solutions to their customers enables them to become one with their current team to handle their exercise effectively on a weekly basis. Enhanced Revenue Solutions are proud to create a streamlined interpersonal commitment atmosphere based on teamwork and trust
Medical Billing Choices
Website:
http://medicalbillingchoices.com/
Medical accounting choices give complete governance of the revenue process. The task of Medical Billing Choices is to enhance the cash flow of the client through a precise and effective accounting method, enabling them to concentrate on improving patient care. Medical Billing Choices have been providing physicians with creative alternatives for nearly two decades to strengthen their cash flow and maximize collections without start-up expenses, equipment or software investments and no concealed charges. Their platinum customer service and committed accounting and acquisitions team are what sets them apart from the rivals
MTBC
Website:
Headquarters:
Somerset, NJ
Founded:
1999
MTBC is an IT solution supplier for healthcare that provides clinics and doctor practices with an extensive portfolio of wholly-embedded clinical, income cycle and exercises leadership alternatives and other associated business services, including transcription and data processing. Technological options and associated business services from MTBC allow their customers to satisfy legislative difficulties effectively and thrive in a quickly changing setting in the healthcare industry. MTBC is continually innovating to maintain pace with a global healthcare setting that through technology allows transformative changes in healthcare
R1 RCM
Website:
Headquarters:
Chicago, IL
Founded:
2003
R1 RCM is a major supplier of technology-enabled RCM facilities that address the efficiency problems of the income process across clinics, health structures and common physician procedures. R1’s established scalable working designs supplement the infrastructure of an organization seamlessly from enrollment and insurance checking to therapy documentation/coding, bill planning and collections from both nurses and payers, rapidly pushing sustainable changes to net customer income and cash flows while lowering operating costs and improving the patient experience. The firm offers start-to-end income cycle leadership facilities and modular revenue cycle-oriented facilities including pre-registration, economic clearance, charge capture, coding, accounting and follow-up, underpayment, and denial management
Signature Performance
Website:
http://www.signatureperformance.com
Headquarters:
Omaha, NE
Founded:
2004
Signature Performance is a healthcare services supplier that is driven by technology, individuals, and innovative procedures. They are enthusiastic about enhancing the safety of the company for their customers. By offering extensive revenue-cycle leadership facilities, Signature does this. They assist reduced expenses and make gains better. They are now supplying most of the primary health care systems, hospitals, organizations of doctors, and clinics of speciality. Their teams exist by Courage, Passion, Integrity, and Respect principles every day. They receive a squad of experts with Signature on the part of the customer who produces healthy outcomes
