Revenue Cycle Management
Konnext Solutions’ Medical Revenue Service streamlines and manages the entire revenue cycle for healthcare providers, from patient registration and insurance verification to coding, billing, and collections. Our comprehensive RCM (Revenue Cycle Management) solution ensures efficient payment generation and collection for services rendered to patients. By optimizing the revenue cycle, we help medical centers achieve improved financial performance and outcomes.
Importance of Choosing Konnext Solutions Revenue Cycle Management Service in Medical Billing
Navigating the financial landscape of a medical practice is a daunting task. With ever-changing regulations, stringent insurance policies, and patient expectations soaring higher than Everest, it’s a recipe for revenue leakage, cash flow disasters, and operational chaos.
Fortunately, at Konnext Solutions, our team of medical revenue cycle management (RCM) experts specializes in restoring your practice to optimal financial health. Our certified coders ensure precise billing and coding to eliminate revenue leakage. Our enrollment specialists secure contracts with leading commercial payers, expanding your patient base. And our diligent billing experts work tirelessly to collect every dollar your practice has earned.
Don’t let medical finances overwhelm you. Konnext Solutions’ Medical Revenue Service offers the remedy to cure your practice’s financial woes. Contact us today to discover how we align your entire revenue cycle process, maximizing collections and enhancing patient satisfaction.
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Konnext Solutions offers comprehensive revenue cycle management services, with billing at its core.
Konnext Solutions RCM Service revolutionizes medical billing with our proprietary SmartClaim system. This in-house technology analyzes billing codes and clinical documentation to proactively catch issues before claim submission, achieving first-time acceptance rates upwards of 98%. Experience faster revenue recovery with our innovative approach to revenue cycle management.
Achieve revenue cycle success with Konnext Solutions' unparalleled coding excellence.
Konnext Solutions medical revenue service boosts revenue cycles through expert medical coding. Our acclaimed Konnext Coding technology reviews medical charts and identifies high-value codes. Our coders, armed with CPC certifications, then examine each chart to find revenue escalation opportunities algorithms miss. Through this man-machine symbiosis, Konnext Solutions delivers an RCM solution that promises more revenue for your healthcare facility.
Optimize your revenue with Konnext Solutions' audit and insights.
At Konnext Solutions, our audit specialists use the Revenue Integrity process to analyze your revenue cycle, pinpointing areas for coding and billing improvements with precision. Our billing consultants then craft targeted solutions to resolve these issues, strengthening your revenue cycle holistically with expert healthcare revenue management remedies.
RCM ROI CASE STUDY
Up To 30% Revenue Increase In Next 12 Months With Konnext Solution's Medical Revenue Service (Case Study)
| In-House Billing | konnextsolutions RCM | Results | |
|---|---|---|---|
| Charges (on average) | $142,000.00 | $142,000.00 | |
| Gross Collection Rate (GCR) | $60,000 (42%) | $77,000 (54%) |
12% Increase in Gross Collection Rate |
| Billing Costs | $6,000 | $4,000 |
$2,000 Decrease in monthly cost of RCM service |
$197,000
Yearly Net Benefit
(monthly gross collection * 12 months)
≈ 30%
Overall collection increase
End-to-End RCM Service Features by Konnext Solutions
You have nothing to lose and everything to gain with Konnext Solutions Medical Revenue Cycle Management features. This means our healthcare RCM service is the partner you can trust for your revenue cycle success.
Charge Entry Feature
- Claim creation, validation, and transmission
- Entering valid super-bill information
- Claim approval confirmation
- Claim status tracking
Remittance Processing Feature
- Processing of payments from the payers
- Processing of adjustments and denials
- Reconciling payments to the provider’s claims
Insurance Follow-Up Feature
- Insurance Follow-Up Feature
- Following up with payers for underpaid claims
- Contact payers on a provider’s behalf
- Negotiating and resolving claim disputes
KPI Reporting & Analytics
- Monitors your key performance indicators
- Analyzes days in accounts receivable
- Analyzes claim denial rate and collection rate
- Comprehensive and customizable reports
- Advanced data visualization tools
Patient Collections Feature
- Collecting patient payments
- Managing initial statement + final notice
- Sending clean bills and reminders to patients
- Convenient payment options for patients
A/R Management Feature
- Reduces the aging of outstanding A/R
- A/R workflow optimization
- Claim approval confirmation
- Collecting A/R collections from the payers and patients
Coding and Documentation
- Coding provider’s services compliantly
- Using the latest coding standards and guidelines
- Capturing relevant details that support a provider’s claims
- Justifying a provider’s reimbursement for their services
- Performing medical bill audits
Charge Capture Feature
- Capturing and validating the service charges
- Leveraging charge sheets and EHRs
- Ensuring charges are consistent with coding and documentation
- Reconciling your charges with your claims
- Reconciling charges with your contractual agreements with the payers
Contract Management
- Managing contractual agreements with the payers
- Determining how much you get paid for your services
- Reviewing and negotiating your contracts
- Monitoring the contracts’ compliance
- Analyzing the contract performance
- Using metrics like contract yield and case mix index (CMI)
Let konnextsolutions RCM Service seal cracks in your revenue cycle...
We identify opportunities to boost your revenue through enhanced billing, coding, denial management and more.
- Claims Management
- Denial Prevention
- Denial Prevention
- Improved Collections
Konnext Solutions RCM Konnext Solutions Has Got The Solutions For Providers' Revenue Growth
Poor Cash Flow
Providers struggle with maintaining a steady and predictable cash flow due to various factors such as bad debt and underpayments.
Better Cash Flow
Our med RCM service reduces the bad debt and underpayments by ensuring accurate and timely claim submission and follow-up.Mishandled A/R
Providers face challenges in managing their accounts receivable (A/R) due to the complexity and variability of the process.Managed A/R
Our healthcare RCM solution provides visibility into A/R performance, such as days in A/R, A/R aging, and A/R turnover.Misaligned Payer Compatibility
Misaligned Payer Compatibility Providers struggle complying with multiple payers, as well as different claim types, like fee-for-service, value-based, and capitated.Aligned Payer Compatibility
Our flexible and scalable RCM platform adapts to the changing payer requirements and maximizes provider’s reimbursements.High Denial Rates
Providers experience is a high rate of denials from payers, that give negative impact to their revenue and also to their cash flow.High Recovery Rates
Our proactive and preventive approach resolves the root causes of denials to boost denial recovery rates and revenue integrity.More Admin Workload
Denials reduce the provider’s revenue collection and increase their workload as they have to appeal and resubmit the claims.Automated Process
Our RCM experts and EHR platform automate the manual work and perform claim submission with utmost accuracy.Unsatisfied Patients
Patients are becoming more empowered consumers of healthcare services, so providers find it hard to ensure patient satisfaction.Satisfied Patients
Our RCM service offers a patient-centric platform to improve the patient-payer relationship via telehealth features.Complicated Patient Management
Providers struggle with the increasing patient financial responsibility due to high deductible health plans (HDHPs) and self-pay patients.Automated Patient Management
Our medical billing platform automatically estimates and communicates the patient’s out-of-pocket costs before the service. REPORTING & ANALYTICS FEATURES
Choose Konnext Solutions RCM Billing Company for comprehensive RCM reporting and management.
Data Insights
Gain valuable insights into your revenue billing process with our comprehensive and interactive analytics dashboard. Compare your performance against industry benchmarks and pinpoint areas for improvement.Instant Communication
Connect instantly with our RCM experts, your patients, and insurance payers through our integrated chat system. Ask questions, share feedback, and resolve issues in real time. Customizable Reports Access detailed, customizable reports that provide a granular view of your revenue cycle. Filter, sort, and export medical billing data to meet your specific needs and preferences.
