Revenue Cycle Management

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HealthWatch provide International Healthcare BPO & KPO Services, ECG/EKG Interpretation Services, 24/7 Cardiac Monitoring Services, Holter Monitoring and ABP Monitoring Services

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REVENUE CYCLE MANAGEMENT SERVICE

          Revenue Cycle Management, IDTF’s, Hospitals and healthcare providers are turning more to outsourcing partnerships for revenue cycle management. As healthcare providers realize they increase the cost with the in-house expertise and resources, they find a signigicant opportunity in having a reliable outsourcing partner and have a significant opportunity by building mutually-beneficial relationships. This trend will only grow as healthcare providers are pressured to reduce operating costs and have to deal with lower reimbursement rates. Outsourcing is a win-win opportunity always as it helps to streamline costs and boost revenues. With more efficient cost and revenue management health care RCM outsourcing provide and opportunity to the health care providers to focus on providing better care to patients and grow their businesses.

OUR SERVICES

  • Insurance Eligibility Verification
  • Medical Coading and Billing
  • Patient Registration & Charge Entry
  • Claims Process Management
  • Payment Posting and Reconsilation
  • Accounts Receivable Management (ARM)

HOW DOES IT WORK?

          The key things that companies consider before outsourcing the services to an outsourcing vendor is their past work experience, reliability, cost competitiveness, systems in place and their approach towards work.

          At HealthWatch, we always strive to create value to all our customers by following a simple and cost effective outsourcing process. This outsourcing process enables us to ensure the smooth transition and the quick completion of the outsourced project in promised time and predetermined budget.

MONITORING SERVICES NEW

  • Establish Contact
  • Understanding your outsourcing Requirements
  • Deciding on pricing and signing agreements
  • Executing the Project

OUR SERVICES

Insurance Eligibility Verification

       Insurance eligibility verification is a Critical Component to Revenue Cycle Management

       Insurance eligibility verification and plan-specific benefits information confirmation before services are rendered not only leads to fewer claim rejections and denials, but it also lays the foundation for an effective patient financial counseling program.

       In fact, it’s not unusual for an employer to change employee health plan offerings each year, or for employees to switch plans annually, as each group looks for ways to reduce expenses. These frequent, ongoing changes increase the importance of accurate, upfront eligibility and benefits verification for all healthcare providers.

       With HealthWatch Health Eligibility and Benefits Verification, healthcare organizations can validate patient co-pay, benefit and deductible information at any point in the billing process via batch or real-time insurance checks with an extensive payer network.

•    Improve Cash Flow

       Having access to the most up-to-date eligibility and benefits data increases clean claims rates, eliminates costly rework and accelerates reimbursement. healthcare organizations can take advantage of a fully integrated insurance and benefits verification offering that increases time-of-service collections, minimizes bad debt and boosts patient satisfaction.

•    Streamline Workflow

       Eligibility responses are viewed in a concise and consistent format that improves efficiency. Providers apply custom business rules and analytics to returned payer data, and automatically receive notifications when edits or follow-up are required.

Other benefits includes

  • Boost Self-Pay Revenue
  • Decreased A/R days
  • Cleaner billing system data
  • Reduced registration, co-pay and billing errors
  • Lower billing and collections costs

Patient Registration & Charge Entry

       HealthWatch Charge entry solution is a flawless data-entry service by updating the relevant CPT, ICD-9, modifiers, payer and respective state guidelines. The team is specialized in various specialties and with different Billing software. Our Quality Assurance team ensures the errors are eliminated prior to the charges are submitted to the respective health insurance carriers.

Highlights of Charge Entry:

  • Experience in multi-specialty and different State guidelines
  • Turnaround time of 24hours
  • Maximum Error free on first claim submission
  • Special care for the Workman’s Compensation and No-fault claims

Payment Posting and Reconsilation

Payment posting involves posting and deposit functions and reconciling posting activities with deposits. Although it seems simple enough, this is an extremely fundamental feature of the revenue cycle. The payment posting process effects many other functions of the medical office and can have a major impact on patient satisfaction, efficiency, and overall financial performance.

Benefits of effective payment posting and reconciliation includes

  • Analyze Your Revenue Cycle
  • Resolve Recurring Problems
  • Enhance Current Processes
  • Speedup Denial Resolution Time
  • Accurate Claims Submissions to Secondary and Tertiary Payers

Medical Coding and Billing

       HealthWatch Medical coding & Billing team ensures that continuous updates are sent to our clients to keep up with minimum documentation and to allow our team to bill for maximum accurate reimbursements for services rendered by them.

       We provide regular feedback to our clients on changes in code selections affecting reimbursements and front-office documentation practices to be followed as per CMS guidelines for appropriate reimbursements to physicians as well as insights into coding related denial analysis.

We use the following industry coding standards:

  • Diagnosis Codes (ICD: International Classification of Disease)
  • Procedure Codes (CPT: Current Procedural Terminology)
  • Coding for Inpatient Services (ICD)
  • Drug Codes (NDC: National Drug Codes)
  • Dental Procedure Codes (CDT: Current Dental Terminology)
  • Other Procedure Codes (HCPCS: Healthcare Common Procedure Coding System)

Key highlights of our Medical Coding and Billing Center of Excellence are:

  • Our AAPC certified coding team is proficient with CPT, ICD, HCPCS level II and DRG codes across various specialties
  • Coding in accordance with NCCI (National Correct Coding Initiatives) and LCD (Local coverage decision and medical policies) as per set rules for different states across USA
  • Quality and Compliance are continually monitored via our unique Quality Assurance Program
  • 24 hour turn-around
  • Assurance in maintaining coding policies and procedures, appropriate and accurate managed contract advice and reports

Claims Process Management

Reduce costs with improved health insurance claims processing

       Health insurance claims processing is a central to the business success of healthcare payers. When claims are poorly processed, it can lead to higher costs, administrative inefficiency, lower productivity. When health insurance claims processing works well, payers can count on significant cost reductions and greater profitability. HealthWatch can help payers manage health insurance claims more accurately and efficiently.

Accounts Receivable Management

       The process of outsourcing a IDTF’s or hospital’s accounts receivable or any other medical office for that matter, does not start with handing over accounts and waiting to see what happens next. Instead, accounts receivable management starts with a good amount of planning and understanding what benefits A/R outsourcing will provide a hospital in the first place. When accounts are actually transferred for management, the office will already have a clear plan on what to expect as well as how to redirect resources now freed up from managing accounts directly. HealthWatch with its experience can help the clients in making a road-map to outsource.

Generally, the basic benefits of outsourced accounts receivable management include

  • collections (per-collections and/or bad debt)
  • customer service (inbound/outbound calls)
  • ensuring account payments are kept on schedule and current, statement generation in some instances
  • payment processing, and ultimately keeping patients happy

What Makes HealthWatch Different from Other RCM Outsourcing Companies?

Flexible and Independent

HealthWatch RCM services are customizable to the specific provider needs. Our services allow ITDF’s to implement and maintain their unique standards and procedures with the team working for them overseas as HealthWatch provides dedicated trained team for every clients independently

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Multiple Delivery centers

Three dedicated delivery centers with dedicated data security, high speed Internet and power backups, support clients 24x7x365. Over 300 dedicated professionals work in multiple time zones.

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Resonable pricing

HealthWatch understands the need of reasonable pricing for the outsourcing services. Along with quality and timely services price remains a major factor in outsourcing, with no volume commitments and limits HealthWatch pricing is the best in this class

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Vast experience and expertise

HealthWatch RCM team consist of certified coders and experienced professionals who can deliver the services in a highly competitive and quality environment.

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Fast & Accurate Reporting

The HealthWatch Monitoring Centers are available 24/7/365 days to assist clients, increase compliance and provide more accurate support

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HIPPA Complaince environment

At HealthWatch, we go out of the way to ensure that security and confidentiality in client relationships are met perfectly. Write to us to know more in detail about our HIPPA security.

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