From the time a phone rings to schedule a patient to getting an encounter closed out and paid, revenue cycle is something that touches every aspect of a medical practice.  Understanding how important revenue cycle and the management of the cycle are to the health of a practice, Practice Plus offers a resource for revenue cycle management.  

The Practice Plus revenue cycle management resource is an integrated approach with one goal, improving a clinic’s fiscal performance.  A few of the key elements that Practice Plus incorporates to ensure that performance is:

• Cutting edge software technology
  • Practice Plus has partnered with one of the leading electronic practice management (EPM) software providers
• Detailed reporting on the clinic’s revenue cycle
  • Days in accounts receivable
  • Denials
  • Gross collections
  • Net collections
  • National benchmarking by specialty
  • Missed/cancelled appointments
• Breakdown of payers
  • Detailed reporting on mix of insurance, government, and self-pay
  • Detailed reporting on performance of each payer group
• Training/Education
  • Important training on beneficial workflows for the practice
    • i.e.-How to handle collecting copays
  • Training on EPM software and best practices for use in clinical setting
• Potential cost benefits
  • Less upfront costs
  • Patient statement letters
  • Discounted electronic claims
  • Discounted collection fees
  • Fully integrated EPM and electronic health record (EHR)

If you are interested in improving your clinic’s fiscal performance through better management of the revenue cycle, contact Practice Plus today.