Revenue Cycle Management
If you’re like every one of our clients, you didn’t invest the years, resources, and energy it takes to become a medical provider to spend the majority of your time managing your billing and revenue cycle. That’s why we are here. We have the talent, methodology, and resources to help your practice flourish.
We have a proven track record of helping our partners capture up to 10% more revenue through our Revenue Cycle Management services. Our coding expertise, denials minimization, and data analytics will help you run a smarter and more profitable practice.
How We Do It
Our Core Differentiators
We help our partners realize up to 10% more revenue by focusing our efforts on three core services; coding expertise, denials minimization, and data analytics & reporting. Our team of medical billing experts will become invalubale partners of your practice.
The transforming of a provider’s narrative or description of disease, injury, and procedures into universal medical code numbers for application of insurance claim is the fundamental purpose of medical coding. Our team of professional certified medical coders ensure higher reimbursement by properly aligning services with medical diagnosis. This doesn’t just assure that you’re properly reimbursed, but also minimizes denials resulting from the incorrect association of diagnosis and procedure codes.
We focus our attentions on preventing physicians from undervaluing their services and maximizing every service provided. But, more than that, we provide practice education about all the latest changes to coding procedures in your specialty, ensuring that you, your fellow physicians, and staff are performing at the highest levels.
Of course, the best way to minimize denials is to prevent them in the first place, by making sure that all our medical claims are “clean”. A clean claim is one that meets the requirements stated by insurance providers for payment on the first submission. Submitting a clean claim begins at the first point of contact by properly registering patients and confirming all primary, secondary, and tertiary insurance.
Your practice should never accept a first-round denial as standard. ebix’s team of expert claim ‘resolutionists’ get your practice’s claims processed quickly in order to minimize denials and secure maximum reimbursement. We thoroughly investigate the reason for denial, when it happens, and offer extensive practice education and training to prevent it from happening in the future.
Data Analytics & Reporting
Today, the best strategic business decisions are not made on a hunch; they don’t even necessarily correlate with historic “best practices”. We live in the era of big data, and a more profitable practice begins with robust and powerful data analytics.
Our team of analysts will help you identify trends, track actual vs. contracted payments, and provide the kind of detailed and thorough data reports needed to manage your practice and maximize your profitability. This is what sets ebix apart from other Revenue Cycle Management companies. We don’t just expertly code and submit, we help you identify and capitalize on unique opportunities for your practice and ensure you’re in a position to maximize your profitability.
Who We Help
Start-ups, Established Practices, and Everyone In Between.
In our more than 40 years of business, we have worked with practices at every stage of growth. The ebix team understands the unique needs of a practice that is just beginning just as expertly as it understands those of established practices.
An Expert Team for Start-ups
We are uniquely equipped to help start-up practices hit the ground running. There are several resources that independent medical practices need to thrive. ebix has a network of healthcare specialists including bankers, attorneys, collection agencies, and human resources that you can lean on for sound advice and guidance.
The ebix team can also help you with credentialing by gathering all the relevant data (provider demographics, education information, training information, malpractice policy, liability claims filed, and work history) and provide it to the insurance companies in the proper form to get you properly credentialed.
Transitioning from Another Billing Company
Maybe you’re already using outside services to handle your medical billing, but are looking for a change, looking for something more. We can ensure that the transition from them to us is seamless and hassle-free. You’ll benefit from our expert Revenue Cycle Management process and incredible analytic insight as your practice continues to grow more profitable.
Established Practices Handling Billing Internally
We know handling your billing internally is costly and takes a great deal of man power. ebix has guided many practices from tackling their billing internally to outsourcing that responsibility to ebix. Utilize our expertise to help transition your practice timely and seamlessly.