Meducal Billing, Medical Billing Services, VMS

Running a healthcare practice is no longer as profitable as it was in the past. The margins are either meager or non-existent. The reasons are non-profitable payment arrangements with payers and raising costs of healthcare delivery. To survive in today’s market place, healthcare providers are in constant search for alternatives like cost reduction. It has been the focus of many healthcare providers for years. But it is just onside of the coin. Cost reduction alone can not bring more profits to the business. The providers have to look at the other side of the coin as well…. i.e. reducing claim denials through the implementation of a strong “Revenue Cycle Management” program……..

The Problem…..

Surveys have shown that healthcare provider don’t collect between 5% and 10% of the money they are entitled to. The reasons for un-collectibles and delays in payment include:

	Limited accuracy and access to patient, insurance, and billing information.
	Failure to identify the un-compensated care
	Authorization process failures
	Poor charge capture methodologies
	Poor coding and billing methodologies based on the specific health plan’s requirements
	Billing follow-up failures

What Value Med Solutions can do for your practice?

Increasing the collectibles through Revenue Cycle Management (RCM):

At value Med Solutions we emphasize on revenue cycle management. Our revenue cycle management program is strategic, aggressive, and targets all the core areas like eligibility verification, prior-authorization, charge capture, claims’ generation, claims’ follow-up, collections, denial management, and AR management. Our RCM program brings the following benefits to the business

	ü Identify the uncompensated care and services that require prior-authorization
	Increase the percentage of first time clean claims
	Track all the rejections and work on them immediately
	Follow-up on claims from 21st day after submission
	Payment analysis to track denied and underpaid claims.
	Appeal all the denials in a timely manner
	Balance bill the appropriate party in a timely fashion

Cutting down Your Costs :

Our cost effective, secure, and flexible outsourced billing services are viable alternatives to traditional choices. Through our services health care practices can lower practice administrative costs, improve collections performance and find more time to concentrate on patient care while having the control on the business process.