Refining Your RCM Strategy for Orthopedic Practice - PowerPoint PPT Presentation

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Refining Your RCM Strategy for Orthopedic Practice


A channelized-strong RCM partner can allow Orthopedic Practice to avoid leakages in the revenue cycle management process. – PowerPoint PPT presentation

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Title: Refining Your RCM Strategy for Orthopedic Practice

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Refining Your RCM Strategy for Orthopedic Practice
A channelized-strong RCM partner can allow
Orthopedic Practice to avoid leakages in the RCM
process. The healthcare rules and regulations are
pushing the healthcare industry towards lowering
the cost of services and equipment beyond the
tipping point. Dr. Brian an Ohio-based
orthopedic center works as an independent
orthopedic center the major chunk of their
resources was used for scheduling prior
appointments with a patient which included the
verification of patient insurance history. The
second reason where the clinic used to waste
their money was in managing claims. These are two
reasons that have drained the revenue from the
orthopedic clinic and many other Orthopedic
Practices. Such aspects have leaked some of the
viable staff from the current settings. For
healthcare providers, the major challenge is
changing the current process for Revenue Cycle
Management (RCM).   With new codes and technology
already adding the backburner to your
reimbursement why not take your viable resources
to place which would add value to the process of
reimbursement. As an orthopedic physician, you
can save a significant amount of resources by
hiring a remotely working company on your Revenue
Cycle Management (RCM).
Refining Your RCM Strategy for Orthopedic Practice
Orthopedic Surgeon Dr. Brian There is a
significant resource drain in the current system.
We are not able to make the best use of our
resources, some of our patients are unhappy
because the front desk doesnt reply back. We
need to change the way our resources are handled
and how our current revenue management system
works?   Dr. Brain approached us to make some
changes in the current process they follow while
a patient calls in to book an appointment and the
further RCM process. Medical Billers and
Coders (MBC) made some significant changes in the
Admin work rather than in Orthopedic Practice.
MBC used some key aspects to reduce the denial
rate and free up the staff which has been engaged
in the insignificant paperwork. As soon as a
patient books their appointment the insurance
number is verified by our billers, this reduces
the likelihood of errors when the patient comes
in on the appointed time and reduces the
administrative load.   The next step starts after
complete diagnoses and treatment or after the
step-by-step treatment where a team of expert
coders works on your documentation and
notes-audio/ written to provide with the perfect
superbill and generate an impeccable CMS-1500.
Refining Your RCM Strategy for Orthopedic Practice
For Dr. Brain, MBC has reduced the claim denial
from 11 percent to 4 percent for his Orthopedic
Practice. The brain also added that The RCM
documentation process is long and tedious if we
start appreciating the process once we understand
how the process works. MBC has helped my staff
greatly in that forefront we mentally changed
the way we look at an RCM process. Every staff
member now knows what their responsibility is and
understands the significance of documentation. As
a doctor and many of my staff members dont know
much about revenue generation so MBC has provided
a platform to explain to us how the reimbursement
process works. Leveraging new technology to
transform the roles of our staff members. Without
wasting a significant amount of time on the
patients eligibility through calling various
insurance companies we significantly reduce the
time period for scheduling a patient
appointment. As the markets become blended,
independent Orthopedic Practices may find it
difficult to stay afloat without affiliating with
any large organization.
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