How Do US Healthcare Organizations/Individuals Or Groups Of Practices Benefit From Outsourcing Their Revenue Cycle Management Services To Billing Companies?

In today’s world, being a successful doctor and running a full-fledged hospital or clinic go hand-in-hand. However, managing everything from the ODP, diagnosis, and treatment planning to understand insurance policies, billing, and payment collection can be daunting. It takes years of learning and experience for a doctor to be able to treat patients. However, when it comes to payment collection and documentation, doctors are expected to know it, which is not fair. 

Thus, as a helping hand for doctors, the revenue management system was introduced. As the name suggests, this is a system that helps in collecting payments and revenue for doctors. However, these systems are not just limited to revenue collection. Let us know more about it. 

Collecting Payments With Revenue Management System 

Getting payments from most patients is often tricky in the treatment process. This brings about the need to have a first-rated revenue management system. Let us understand how a revenue management system helps doctors in collecting payments –

• Assembling Bills

When patients walk into the clinic or the hospital, they are liable to pay the doctors for all the services they provide. Firstly, the revenue management system keeps track of the patient’s visits. It logs all the times the patient visits the hospital for consultation. As per the number of logs, the patient is liable to pay the consultation fee, as set by the hospital. 

It is noted that the patient is admitted to the hospital or is an outdoor patient. Based on this, most hospitals alter their charges. If the patient is admitted, the room charges are added to the billing amount. 

As per the diagnosis of the patient, the doctor suggests some tests be conducted. This is again documented in their patient profile. All the tests conducted are recorded in the system. Based on the cost of the test, the patient is billed. 

Then, a treatment plan is done. After the permission of the patient, the doctor begins the treatment. During the course of treatment, all the charges, such as Operation theater charges, anesthetic costs, cost of the medicines, etc., are noted in the system. 

Once the patient is discharged, the revenue system aggregates all the bills to provide the patient with a final bill. This way, the doctor doesn’t have to worry about keeping a tab on the billing details and can utilize their time in a better manner. 

• Accounts Receivable And Denial Management

When it comes to practicing medicine on a day-to-day basis, there are a lot of patients coming in and going. It isn’t practical to always consider that all the bills shall be paid in full and on time. Quite often, it occurs that bills are not paid, and the doctors need to run behind patients to collect the fees. Keeping a tab on all the bills due and patients is a tedious task. 

The SIXA healthcare management system helps the doctor get free of such mundane tasks. Its advanced technology and intelligence system take care of all unpaid bills, including denied claims. In addition, this system helps to reduce all manual procedures, such as bill management and follow-up calendars. Here, everything is automated and handled by artificial intelligence. 

• Documentation Is Made Easy

SIXA has a strong team of members at its own call center. This makes the calling process much simpler and easier. Here, instead of the doctors, all follow-up calls are made by the telephone operators. In addition, to make documentation easier, they have a basic set of templates that they follow for each conversation. Based on these, they develop post-call notes, which consist of vital information. 

Post-call notes generally consist of details such as. 

• Why was the call made? For instance, if there is a due amount that the patient needs to pay, specific details of the same shall be mentioned. 
• All the communications made by the payer to the caller as per the requirement of the call. 
• Specific outcomes or decisions that were taken during the call. This generally talks about when the payer shall complete the payment, the mode of payment, etc. 
• Further, details such as feedback and follow-up calls are noted.

With the post-call notes, the doctors can get precise updates on each case without going through the bulky task themselves.