Maximize Revenue with our Proven Revenue Cycle Management Services
Leverage Revenue Cycle Management services for automated billing and collection to optimize cash flow and streamline operations.
Innovative Revenue Cycle Management (RCM) Services
Scales As You Grow
Effortlessly navigate growth and adapt to new reimbursement models at your preferred pace, without the need for extra resources.
Accelerate Cash Flow
Leading healthcare providers trust CureMD revenue cycle management services to ensure accurate and timely claim completion, which maximizes revenue and cash flow.
Reclaim Your Time
Eliminate the need for additional billers and training. Reclaim your valuable time to prioritize patient care while we handle your billing needs efficiently.
What is Revenue Cycle Management?
Revenue Cycle Management (RCM) is the process used by healthcare providers to track and manage payments for their services efficiently and accurately. It encompasses scheduling appointments, billing patients, handling insurance claims, and collecting payments. Essentially, RCM ensures healthcare providers receive the payments they are due. This financial process, supported by medical billing software, includes everything from patient registration and appointment scheduling to the final payment of balances. The aim is to accurately identify, collect, and manage revenues generated from patient services.
Why is Healthcare Revenue Cycle Management so complex?
Healthcare Revenue Cycle Management is complex because it has to follow ever-changing rules and work with many different insurance companies, each with their own policies. It involves handling different payment methods, making sure claims are accurate and fixing any issues if claims are denied. There’s also the challenge of billing patients correctly, especially as they pay more out-of-pocket costs. Integrating data from various systems and finding any lost revenue requires thorough checks, making the entire process very detailed and demanding.
Why is Revenue Cycle Management Important?
Revenue Cycle Management (RCM) is crucial because it ensures that healthcare providers get paid for the services they deliver. Effective RCM streamlines the billing process, reducing errors and delays in payment. It helps manage claims efficiently, minimizes denials, and ensures accurate reimbursement. RCM also improves financial stability by maintaining consistent cash flow, which is essential for the operational viability of healthcare facilities. By optimizing revenue collection, RCM enables providers to focus on patient care, enhancing overall healthcare quality.
Experience the Benefits of Outsource Revenue Cycle Management with CureMD
Our Revenue Cycle Management (RCM) services are designed to help healthcare providers streamline their financial operations and reduce claims lag and denials while keeping overhead costs at the lowest. We provide a high level of transparency so you always know how your practice performs financially.
HIPAA compliance
By ensuring that all financial processes and patient data handling adhere to HIPAA regulations, physicians can trust that their practice is operating securely and maintaining patient confidentiality.
Patient Financial Experience Optimization
We offer helpful tools like price estimations, bills that are easy to understand, online payment options, and self-service portals. These tools give patients the power to know and manage their financial responsibilities.
Customization
Our customization options that allow providers to tailor their services to their specific needs. This ensures that providers get the most out of their investment.
Artificial Intelligence Automation
Our AI algorithms can automate tasks like claims processing, payment posting, and denial management, reducing manual effort and improving accuracy.
15%
Reduction in A/R
30%
Reduction in Front-end denials
7%
Improved net collections
<3 Days
Resubmmitting of denied claims
The Results Will Amaze You
Our proven RCM services model delivers real results:
- Achieve an average collection rate of ~96%
- Improve your clean claim submission rate, reduce denials, and provide more accurate/timely payment posting
- Collect more of what's NOT being paid including denials, appeals, and open patient balances
Start improving your revenue cycle today!
CureMD's Revenue Cycle Management Services make managing money in healthcare easier. Our skilled billers help providers handle revenue effectively. We offer services like claims submissions, denials management, and more to boost revenue, reduce expenses, and improve practice performance. With our support, you can speed up revenue growth and gain valuable insights about your practice.
CureMD RCM ROI Case Study
| In-House Billing | CureMD RCM | Results | |
|---|---|---|---|
| Charges (on average) | $135,596.66 | $135,596.66 | |
| Gross Collection Rate (GCR) | $57,368.13(42.3%) | $72,968.9(53.8%) | 11%Increase in Gross Collection Rate |
| Billing Costs | $5,689.31 | $4,213.62 | $1475Decrease in monthly cost of RCM service |
| $187,209.48Yearly Net Benefit(monthly gross collection * 12months) | ≈ 29%overall collection increase | ||
* Real CureMD ROI example from one of our clients
Disclaimer
The case study provided is for illustrative purposes only. Every medical practice has unique infrastructure, costs, and circumstances. The outcomes and results presented should not be assumed as generic or universally applicable. The impact of implementing CureMD RCM or any other solution may vary based on specialty, practice size, and annual revenue. It is crucial to conduct a comprehensive evaluation and analysis of your practice's individual situation before making any decisions.
Explore our Cutting-Edge Features.
Insurance Verification
Verify insurance coverage for patients, including dual eligibility (Medicaid and Medicare), TP eligibility (additional coverage), and Out-of-State verification (validating coverage for different state residents).
Prior Authorization
Manage the process of determining, submitting, and following up on authorizations, ensuring that healthcare services are approved and completed according to the necessary requirements.
Payment Posting
Streamline your revenue cycle using our system. Once claims are processed, it automatically collects patient balances using pre-registered payment methods, improving payment efficiency & reducing manual efforts.
Patient Statements
Cut down on paper billing and processing expenses by using patient statements that encourage online payments. Send fewer statements and spend less time on patient follow-ups for collections.
Reporting and Analytics
Monitor and analyze your revenue cycle performance. Gain access to valuable business intelligence for data-driven decision-making, enhancing profitability through identifying opportunities for improvement.
BI Tools
Gain complete visibility into your practice's income and performance through our custom BI tools. Access real-time reports and valuable insights for optimized medical billing.
Award Winning Technology for 32+ Specialties
What Our Clients Say
Dr. Olga Leonardi
Manhattan Endocrinologist
CureMD enables me to access patient records anywhere, anytime. I recommend CureMD to other physicians because it's well thought out.
Dr. Margaret Safo
Margarest Safo MD
CureMD has saved my medical practice. Without CureMD, I don't know where my practice would be today. I've had a long-term relationship with them and I love it!
Dr. Seth Keller
Heart Rhythm Associates of NY
I love CureMD because it is customizable, allows you to have easy access and someone is always there to help you.
Transform Your RCM into a Powerhouse with our Revolutionary Revenue Cycle Management Services
Experience unprecedented financial success by transforming your revenue cycle with our comprehensive solutions. From streamlined workflows to optimized reimbursement strategies, we help you achieve financial excellence in today's challenging healthcare landscape. Our solutions help identify and address revenue leakage points, ensuring you capture every dollar you deserve for sustainable financial success.
Certifications
CureMD has pursued and obtained widely recognized certifications for our
processes and systems that ensure we meet and
exceed all client and industry
requirements in the areas of quality, security and technology.
SureScripts Certified
Gold Quality Solution
EHNAC HNAP-EHN Accredited
CMS 5010 Certified
View Pricing
Healthcare providers need revenue cycle management services that are both affordable and practical to stay competitive in the changing industry. CureMD understands this, which is why we offer a pricing plan tailored to your specific practice needs. Fill out the form to get a detailed pricing plan.
Frequently Asked Questions About Revenue Cycle Management Services
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