Revenue leaks out of medical practices, due to an inability to manage five key interrelated business functions, including active contract management, claims denial management, coding/compliance, credentialing and the cash owed by patients.
The Problem
The Ideal Solution
The ideal solution is the key to keeping your billing office and management on the same page. Our 5C system would ensure that all claims are adjudicated per the terms of all-payer contracts and ensure any remittance variances appeals immediately. With our 5C system, we can appropriately code, document encounters, and receive feedback and training based on ongoing assessments. The 5C system checks providers’ credentials and proactively manages to eliminate out-of-network denials or lapses in-facility coverage. Cash owed by patients for co-pays, deductibles, and co-insurance would be determined before encounters and collected at the time of service to manage patient accounts receivables obligations.
Synergy Revenue Integrity
Synergy Revenue Integrity is a Business Intelligence and process improvement service that integrates with existing EMR’s and practice management systems. It helps practices diagnose what causes revenue leakage and helps them make optimal changes to improve financial performance.
Synergy Revenue Integrity interprets massive amounts of data that helps everyone see what they should be focused on. Our business intelligence evaluates historical data and trends to identify the root causes of problems. We look at what has happened, and we compare this to what is currently happening. We continuously distill your data, typically upwards of hundreds of thousands of rows in a database. We reveal insights in dashboards and analytics that are updated daily to help all stakeholders understand how they are performing against benchmarks. Expert Revenue Integrity Analysts from RT Welter help facilitate root cause process improvements to address upstream and downstream issues in the revenue cycle management process.