Revenue Cycle Management

Hiring IV Medical to handle your revenue cycle management can mean freeing you up to focus on your patients, which benefits them and you.

Hiring IV Medical to handle your revenue cycle management can mean freeing you up to focus on your patients, which benefits them and you.

 

Medical practices often operate on a thin financial margin. That generally happens because patients and insurance companies can be slow to pay for provided services, and because there are a number of expenses that medical professionals have to pay and keep up with. Those can really add up, especially if there’s a breakdown in the revenue cycle and things aren’t flowing financially the way they really should be. Fortunately, IV Medical can help with that, by providing your medical practice with proper revenue cycle management that can keep your practice moving in the right direction.

We’re serious about what we do.

Your revenue cycle is the most important thing to consider when it comes to the financial side of your practice, and it has to be operating the right way in order for you to have the highest level of success possible. With the latest technology, our specialists can track the claims process at every single point in the revenue cycle. No more will issues be overlooked because you didn’t realize where the breakdown in the cycle was taking place. We can find the problems and get them corrected.

Keeping your revenue cycle intact and working properly at all times isn’t something you should undertake. It can be labor intensive and time consuming, and you’ll want to save that time and effort for your patients.

There are many steps in the revenue cycle process, and they all need proper coding and billing if things are going to run smoothly.

 

Even before the patient’s visit, information is collected and coded into the system. That also happens during and after the visit, to make sure everything about the patient, his or her medical problem, and the prescribed treatment is properly recorded. Without that information, billing may not be accurate or may be rejected by the patient’s insurance company. Because of the strict coding requirements, the revenue cycle can feel needlessly complicated.

If there’s a breakdown in the chain of processing claims, getting paid, and generating revenue, it can be difficult for a medical practice to stay afloat.

 

Finding and fixing that breakdown can also be a difficult thing to do, especially for a busy medical practice where people may not have a lot of time to go hunting for problems. We can change all that. By providing you with state of the art technology and a staff with decades of experience in medical revenue cycle managing, we can discover where the breakdowns are occurring, correct them, and continue to monitor and manage your revenue cycle.

Don’t waste time worried about those potential complications. Instead, get in touch with IV Medical today and let us start helping you with the management of your revenue cycle. The experience and cost-effectiveness of hiring a professional can change the bottom line of your practice for the better quite quickly. Most medical practices aren’t really experienced in medical billing and aren’t used to managing their revenue cycles, which can lead them to struggle with reimbursement from insurance companies and collection efforts directed at patients.

 

To improve your bottom line and ease the burden of attempting to manage your revenue cycle on your own, give us a call today.