Revenue Cycle Management

Revenue Cycle Management (RCM) forms an integral part of hospital management system. Insufficient or poor revenue cycle management might cost your hospital to loose two to three percent of its net annual revenue. The term “Revenue Cycle Management” carries multiple connotations. Some use it to describe claims those are denied of medical necessity, while others use it to show how the information, procedures and service plan are tracked for a specific payer.

Yet, there is another group that associates it with the daily work of a physician’s chamber. So, do not be disappointed at the blank look from your medical billing company for questions like: what is your strategy for revenue cycle management or what are its results.

An effective revenue cycle management system manages the data for the billing process. This accelerates and increases the flow of cash. A good reporting needs to be comprehensive managing all claims. If used properly, revenue cycle management can reduce claim denials by at least 50 per cent.

Promantra Revenue Cycle Management service helps healthcare organizations attain the above goals resulting not only in high revenue management but also increased level of satisfaction. We specialize in the revenue cycle management of long term care organizations. We collect and monitor the rightful reimbursements for the service provided.

To accelerate the velocity of our revenue management cycle, we have compartmentalized the entire process into different sections, like: Admissions, Insurance Authentication, Charge Processing, Billing, Follow Up for Collections, Payment Posting and Bad Debt management.

Our RCM service is delivered exclusively through our proprietary GeroPro platform. This unique platform helps us in managing the contracts (Medicare & Medicaid) of Long Term Care Organizations, authenticate their reimbursements and also provide systematic resident estimate. We also bill for Medicare, Medicaid, Insurance, Co-Insurance for third party and private payers.

Our Revenue Cycle Management service assures you minimum denials. The healthcare system has been striving through a challenge of minimizing cost; the traditional efforts have proved insufficient in reducing the financial margins. Revenue Cycle Management is an effective solution in such cases.

With an experience of more than five years, Promantra has been delivering quality RCM service for Long Term Care units. Certified to the standards of ISO 9001:2000 and ISO 27001:2005, Promantra Revenue Cycle Management assures you rightful reimbursement.