3. Revenue Cycle Management
Revenue Cycle Management is the backbone of
healthcare; driving the Medical Billing Company, Physician
Practices, Hospitals, and Medical groups financially
successful even during the dire straits.
The importance and benefits of Revenue Cycle
Outsourcing or Offshoring are multifarious and cannot be
contained or limited to certain points of discussion,
however, listed below are a few primary reasons to
answer the question of why Revenue Cycle Outsourcing is
Important in Healthcare?
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4. Eliminate Administrative Burden
Increase Healthcare ROI and Profitability
Optimize the Financial health of the Medical Billing
Company.
Achieve expected business growth and development
within the targeted timeframe
Efficient Staff Management covering all aspects like hiring,
training, absenteeism and absconding related issues and
responsible for continuous process flow at any given
situation.
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5. Experienced team of billers and coders
Quality work with reduced claim denials and an increased
higher first-pass rate.
Streamlines work process and strategical approach to
meticulous details.
Further to the above-listed advantages of Revenue Cycle
Outsourcing, there is a myriad of qualifying benefits that
makes it not only important but also an inevitable part in
U.S healthcare.
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6. Outsourcing Revenue Cycle Management
Outsourcing Revenue Cycle Management has been a
boon during the COVID19 and global pandemic.
Healthcare firms and Medical Billing Companies in the
U.S choose outsourcing and offshoring over in-house
billing to sustain the drastic effects of inadequate staffing,
ongoing changes and update, and an abrupt increase in
the telemedicine process with related changes in Medical
Billing and Coding guidelines, protocols and regulation.
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7. These situations had brought Medical Billing companies to
a blind alley, Providentially with Revenue Cycle
Outsourcing Services, U.S healthcare has not only
sustained but according to the Market Analysis Reports
published in April 2022* Revenue Cycle Management
grew at the rate of 17.2% from the year 2019 to 2020 and
the market post COVID outlook is estimated to witness
approx. 10% -11% growth year on year until the next five
years.
Source: * https://www.grandviewresearch.com/industry-analysis/us-revenue-cycle-management-rcm-market
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8. The increase in financial growth and profitability along with
increased quality services and stress-free medical billing
experience is the reason why many have opted out
for Revenue Cycle Outsourcing. With Offshore Revenue
Cycle Management Services, billing companies are
entitled for:
Time Advantage of 9-12 hours: Offshore
Outsourcing guarantees the Billing companies with the
benefits of time advantage by having all the claims data
entry-related activities processed by their night hours,
thereby speed up the process and cash flow.
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9. Specialty Based Expertise: An established Revenue
Cycle Management Partner does not only cover end-to-
end scopes of services but also pitches in with their
unlimited support with any new medical specialty or
understanding the nuances of a certain complex specialty
in Medical Billing.
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10. Software Expertise: With experience handling various
clients across the US with different medical billing
software for claims processing day in and out, the team is
efficient and adept in handling or taking over any Practice
Management System or EMR in the market and can kick
start the billing process with standard quality percentage.
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11. Physician Credentialing: Apart from the RCM scope of
Services, an offshore-based Medical Billing Company can
also support with Physician Credentialing, Provider
Enrollment and Re-credentialing requirements of the
physician and Billing Companies to help keep them up to
date with their credentials and CAQH profile.
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12. About US
ecare india is a 21-year-old Medical Billing
Company providing complete Revenue
Cycle Management services across the
U.S. Fully compliant with HIPAA compliance
certification and internal security policies to
protect information confidentiality and PHI,
e-care guarantees cost-effective Medical
Billing Services with Increased ROI.
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13. Contact us
To know more about ecare
call 1-813-666-0028
log on to www.ecareindia.com
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