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Revenue Cycle Check-up
At PSU, our consultants understand the intricacies of every aspect of the Revenue Cycle. We begin by analyzing the following areas:
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Preregistration
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Registration
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Charge Capture
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Claim Submission
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Remittance Processing
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Insurance Follow Up
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Patient Collections
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Reporting
Once these areas are reviewed, we can then determine the best plan of action to correct any issues we may identify. You will receive a comprehensive report outlining any inefficiencies or identifying any bottlenecks in your processes along with recommendations on how to correct them.
How can we help?
If you are struggling with your revenue cycle processes, consult with one of our experience consultants at PSU to review the steps. Addressing the inefficiencies or break downs in your processes now will pay off in the long run. Book your time to speak to one of our experienced consultants today!
Medical Billing & Consulting Services
Hiring and retaining an excellent billing staff can be difficult. Let PSU's expert coding and billing specialists help remove that burden. We deliver exceptional results because we consult with our clients and understand their organizational needs prior to starting our engagements.
We provide revenue cycle management, electronic claims submission, accounts receivable follow up, appeals and redeterminations, patient billing, patient collections, and financial reporting.
We will work with you to keep the cost down by utilizing your exsisting billing system.
If you are in need of a new billing platform, our consultants can recommend and set up a new one at your request.
How can we help?
Working with a medical billing service will save your organization a significant amount of time and effort. You should see an increase in practice efficiency and a decrease in practice overhead. Book your appointment today to discuss how our Medical Billing Services will help your organization.
Accounts Receivable Follow-up
Working the accounts receivable is one of the most important yet daunting parts of managing the revenue cycle.
Our consultants efforts include running AR reports, optimizing technology, and tracking claims to help the practice recover what could potentially be lost revenue.
Providers classify accounts receiveable in terms of the age of the account:
1-30 days
31-60 days
61-90 days
91-120 days
Failure to collect on these accounts risks revenue leakage situations where the practice suffers a loss.
It is often the case where a practice does not have the manpower to handle the effort necessary to reduce days in accounts receivable. Our consultants have years of experience working accounts receivable and are here to help you!
How can we help?
Our comprehensive, state-of-the-art software allows us to work your accounts receivable efficiently. We analyze denied claims, partial payments, and zero-dollar payments. We will correct and resubmit your claims and communicate directly with the insurance companies. We will make sure your accounts receivable is managed effectively so you can handle your day-to-day tasks without worry. Book your appointment now to speak with one of our experienced healthcare consultants!
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How can we help?
KPI Development
Key Performance Indicators (KPIs) are critical in ensuring your organization has the data it needs to make and sustain improvements.
Do you currently have KPIs established for your organization?
Many of the current EHR software's have built in performance dashboards to keep track of this type of data, but if it is not understood or shared with the providers and staff, it becomes useless information.
There are standard KPIs for healthcare organizations such as:
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Days in AR - Measures Revenue Cycle effectiveness & efficiency
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Gross Collection % - Measures revenue cycle cash flow, assists in predicting cash flow
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Net Collection % - Measures Revenue Cycle efficiency
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RVU by Provider - Measures Productivity of Providers
It is also important to develop specific KPI's for your organization in order to to improve patient care services, measure performance, help make decisions, detect patterns over time and help set goals and plans.
Provider Services Unlimited, LLC can help your management team learn how to define your KPIs and measure what matters by developing a scorecard alongside a continuous improvement plan. If your current EHR does not have the capabilities to pull the necessary data, we have a multitude of solutions to correct that issue and get you to where you need to be. Many of our IT Partnerships offer the ability to extract data from these systems when it is difficult to get the information needed to develop KPIs. We will work with you to develop an impressive and informational report you can take to the next board meeting! If you would like to discuss how PSU can help you with your KPI Development and Presentation please book a time with one of our knowledgeable consultants.