Revenue Cycle Management Services
Is your practice struggling to manage cash flows because of an inefficient revenue cycle management process? Optimize your processes with our proven RCM solutions. We provide tailored solutions to remove the kinks from your RCM process.
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Years of
Experience
10+
Industry
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5000+
Experienced
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Outsource Revenue Cycle Management Services to the Expert
Invensis is a specialized revenue cycle management service provider with over 22 years of experience. Over the years, we have assisted hospitals, clinics, and physician practices in streamlining their services for better revenue control. Our end-to-end RCM service covers medical coding, billing, records indexing, claims processing, payment posting, denial management, and accounts receivables.
Our team is driven by certified billers, coders, and revenue cycle specialists. We develop kpi-driven workflows and power them with cutting-edge tools and technologies like EHR systems, RCM software, and predictive analytics. This ensures an automated and streamlined process with reduced errors, minimized gaps, and enhanced revenue generation.
As a HIPAA-compliant company, we ensure practices are up-to-date on the latest medical regulations, coding standards, and compliance requirements. This gives you the peace of mind to focus exclusively on healthcare. All these together make us an expert revenue cycle management service provider.
Our Comprehensive Revenue Cycle Management Services
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Explore Business Specific Revenue Cycle Management Services
Our End-to-End Revenue Cycle
Management Process
Our RCM process consists of well-defined steps to guarantee consistent and reliable cashflow management. These steps include
- 1
Patient Registration
We collect patient demographic details and relevant insurance information.
- 2
Medical Coding
Our coders assign codes to the treatment/procedures undertaken by the patient.
- 3
Medical Billing
Medical billers enter service charges as per the codes assigned.
4
Quality Review
Each bill is reviewed for errors and inconsistencies.
- 5
Claims Submission
Submit claims electronically to insurance companies.
- 6
Payment Posting
Record payments received from insurance companies and patients.
- 7
Denial Management
Identify, investigate and take necessary action on claim denials.
- 8
Accounts Receivables
Follow-up on unpaid or underpaid claims with insurance companies and patients.
- 9
Reporting
Generate financial reports on overall revenue performance.
The Invensis Advantage for Revenue Cycle Management Services
Invensis - The Most Trusted Revenue Cycle Management Outsourcing Company
As an outsourced revenue cycle management company, we have over 22 years of experience delivering healthcare revenue cycle management services to US-based practices. We have assisted our clients with best practices, such as focusing on patients, investing in technology, collecting patients' financial responsibility upfront, implementing charge capture accurately, and filing claims on time. Over the years, we have seamlessly integrated people, processes, and technology to deal with changing legislation and industry needs. As a result, our clients have banked on our services to eliminate waste, promote efficiency and get end-to-end value-based support.
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3x
Increase in Point-of-Service
(POS) Collections
95%
Clean Claim Rate
(CCR)
80%
Reduction in Accounts Receivable (A/R) Days
40%
Reduction in Cost to Collect expenses
75%
Improvement in
Issue Resolutions
Outsourcing your revenue cycle management (RCM) process can bring numerous benefits to your healthcare organization. RCM refers to managing healthcare's financial aspects, including billing, payment collection, and claims management.
By outsourcing this process to an RCM company, you can streamline your operations and focus on providing high-quality patient care. Here are some of the benefits of revenue cycle management in healthcare achieved through outsourcing:
1. Increased efficiency
Revenue cycle management companies specialize in managing the financial aspects of healthcare and have the expertise to streamline your operations. They use advanced technology and tools to automate processes and reduce errors, resulting in faster payment collection and improved cash flow.
2. Cost savings
Outsourcing your RCM process can help reduce overhead costs such as employee salaries and benefits, training, and technology investments. This can result in significant cost savings for your organization.
3. Improved patient satisfaction
A RCM company can handle the billing and payment process efficiently, reducing the chances of billing errors and disputes. This can improve the overall patient experience and satisfaction with your organization.
4. Enhanced compliance
Revenue cycle management companies are well-versed in the latest billing regulations and can ensure that your organization complies with all relevant laws and policies. This can prevent costly fines and legal issues.
5. Access to expertise
Partnering with an RCM company gives you access to a team of experienced professionals who can provide valuable insights and solutions to improve your organization's financial performance.
Outsourcing your RCM process to a revenue cycle management company like ours can bring numerous benefits to your healthcare organization. It can help increase efficiency, reduce costs, improve patient satisfaction, enhance compliance, and provide access to expertise.
The services under revenue cycle management are becoming increasingly important in the healthcare industry as they help organizations streamline their billing and collection processes. The trend in RCM services is shifting towards outsourcing to specialized healthcare RCM companies and using technology to improve efficiency and accuracy.
Revenue cycle management outsourcing companies offer various services, including claims processing, billing, and collections. These companies have expertise in navigating the complex billing systems of healthcare organizations and can help improve revenue and reduce costs.
Healthcare revenue cycle management services also focus on increasing patient satisfaction and reducing financial burdens. This includes implementing patient payment portals and providing financial counseling to patients.
Revenue cycle outsourcing is becoming more popular as it allows healthcare organizations to focus on patient care while outsourcing the management of their billing and collections processes. Outsourcing to top revenue cycle management companies can also lead to cost savings and improved efficiency.
There is a growing trend toward the use of technology in RCM services. This includes using electronic health records, billing software, and patient portals. The use of technology helps streamline processes and improve data accuracy, leading to increased revenue for healthcare organizations.
Overall, the revenue cycle management solutions trend is towards outsourcing to specialized RCM vendors and using technology to improve efficiency and accuracy. These trends will continue to shape management companies' revenue cycles in the coming years.
What Our Customers Say
We have been working with Invensis for the past two years, and they have helped us overcome many revenue cycle management challenges. The team often walks the extra mile to ensure that our needs are met.
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Invensis has been our revenue cycle management healthcare outsourcing partner for the past 5 years. They have always delivered on their commitments, whether it is meeting our Service Level Agreement (SLA) or improving our billing process.
Invensis has been a great partner providing quality medical coding and billing services. The team is extremely responsive to every query we pose, and the turn-around time for deliverables is always as committed.
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