Three Common Misconceptions About Revenue Cycle Management
Medical billing has always been a complex topic. With the implementation of value-based care and medical codes continuously being updated or removed, the complexities of billing are only becoming more advanced. Incomplete or inaccurate medical billing can cause an immense amount of stress on the revenue cycle process, especially if the errors are occurring and it’s an operational blind spot for the provider. When a provider’s bottom line is suffering patients often receive a poor treatment experience, some healthcare systems are faced with having to reconfigure their revenue process. Despite healthcare systems needing assistance, there can still be hesitation on outsourcing revenue cycle efforts due to a number of industry-based misconceptions.
Outsourcing RCM Demands Will Cause Internal Job Loss
It’s not uncommon to be concerned about how outsourcing your revenue cycle management demands can impact your current staff or overall communication efforts within your team. Our team has found that this is rarely the case. In fact, often time communication efforts are improved and current employees can be reallocated to areas of the business that require more attention in order to improve the healthcare experience. Hiring RCM industry experts not only ensures that your administrative demands are done quickly and correctly, but your facility can flex to the demands of change. At Signature Performance, our team is an extension of your current staff. We work with your team to achieve highly sought-after financial goals.
Outsourcing RCM Demands is Too Expensive
Healthcare is already a pricey industry and when you are looking to cut costs within your healthcare system, you want to ensure you are doing so in the most effective way possible. Even though it may seem like paying an external partner to assist you through medical billing backlogs is counterintuitive, it can actually boost your revenue quite significantly. By taking the appropriate steps to improving the billing process, outsourcing to vendors can increase cash flow and flexibility. At Signature Performance, we are currently bringing together the best people, processes and technology to streamline healthcare administrative costs with industry leading experts and state-of-the-art technology. Not only can outsourcing alleviate the burden of backlogs and other administrative demands, it allows providers to continue to administer high-quality care and improve the healthcare system’s overall bottom line.
Outsourcing Will Cause a Data Breach in Sensitive Patient Information
With so much patient data being involved in medical billing, it is natural to be nervous about security when it comes to outsourcing to a healthcare administration professional. At Signature Performance we take security seriously. We know that we are entrusted with an enormous amount of protected health information, so data security, daily operations and industry compliance are our top priorities. This protocol not only ensures that we are doing our best work every week, but we are protecting our partners and their patients every step of the way. By staying on top of the latest security-based technology and industry regulations, we can continue to lower healthcare administrative costs and streamline the medical billing process in a way the healthcare industry has never seen before.
Signature Performance Alleviates Administrative Demands
At Signature Performance, it’s our mission to improve efficiency within the healthcare administrative services industry. Our unmatched experience on both the payer and provider side of the business allows our team the opportunity to evaluate industry issues from a variety of perspectives, eliminate any static within communication efforts and create custom solutions that get to the core of the problem.
Signature Performance serves some of the largest payers in the country! Our end-to-end claims cycle and payment integrity reviews make it easy to optimize a payer’s existing system and eliminate common administrative errors. Our years of experience provides Signature with the industry insights and knowledge our team needs to effectively navigate communication challenges payers and providers face. At Signature, our team will coordinate with the provider and patients to help payer beneficiaries receive access to the services they need while eliminating unnecessary costs in the process.
When it comes to providers, Signature works with hospitals and clinics of all sizes. Our team is passionate about implementing cost-effective revenue cycle support. As a full-service revenue cycle business administration partner, we offer a wide variety of provider-based services that will get insurance claims processed accurately and in a timely manner. Our custom solutions and state-of-the-art processes will ensure that providers are paid properly for the care that was administered.