Revenue Cycle Check Up
The VSA Revenue Cycle Management staff is a team of experienced certified coders and billing experts are dedicated to revenue cycle management process improvement and practice management.
When VSA decided to create a Revenue Cycle Management Division, our corporate vision was to distinguish ourselves in the market by providing our clients with innovative and valuable business tools and solutions that allow them to realize their own particular strategic visions and business plans. It is for this reason that we don’t view ourselves as a solution or a service; but rather as a business partner.
VSA assists Phlebology practices to make sure that each paid claim is adjusted at their contracted rates. Achieving this simple goal involves an advanced understanding of revenue cycle management processes; it is not simply “billing and collections”. We seek opportunities to increase your revenues by identifying operational deficiencies, creating action plans to address them, and then establishing reporting and follow-up systems to ensure on-going success.
Failure to optimize every aspect of claims submission, claims payment, and accounts receivable management, including both insurance and patient balances, can have a negative affect on your practice’s revenue.
Revenue Cycle Processes
To start the Revenue Cycle Process Review, we establish baseline measurements of your revenue cycle performance and create applicable benchmarks. Our experienced Revenue Cycle consultants will compile the information necessary to provide you with recommendations in the following areas:
- Appointment Scheduling / Patient Registration
- Insurance Verification
- CPT Coding & Charge Processing
- Payment Posting / Appeal of Underpaid Claims
- Accounts Receivable Management
Typical improvements include:
- Increased accuracy of patient registration data
- Timely insurance verification
- Improved timeliness and accuracy of charge postings
- Reduced volume of claim denials
- Reduced AR days outstanding
- Increased receipts per patient visit
Patient Registration Processes
If your vein practice is like most, it has become an ongoing struggle to establish and maintain adequate patient registration processes due to frequent insurance procedural changes, staff turnover, and inadequate staff training. As a result, you may be experiencing registration errors, little or no pre-verification of insurance coverage, and the absence of an effective collection policy for insurance deductibles, co-pays and past-due patient balances.
To start the Patient Registration Process Review, we establish baseline measurements of your current staff performance and create applicable benchmarks. We then complete a detailed operational assessment of the Patient Registration process to identify deficiencies and opportunities for operational and financial improvements.
Typical improvements include:
- Improved scheduling of all patients
- Increased pre-verification of insurance
- Increased cash flow through significant increase in the real-time collection of insurance co-pays, deductibles and past-due balances
- Greater accuracy and completeness of patient demographic information
- Reduction of associated claim denials
- Improved patient convenience and satisfaction