Revenue Cycle Management Solutions by NSMD Medical
NSMD’s Medical Revenue Service handles the full spectrum of payment generation and collection for healthcare providers. We offer a comprehensive revenue cycle management (RCM) solution, overseeing every stage—from patient onboarding and insurance checks to medical coding, billing, and payment recovery. Our goal is to streamline the revenue cycle, ensuring improved financial performance for your medical practice.
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The Significance of Selecting NSMD Revenue Cycle Management for Your Medical Billing Needs
Managing the finances of a medical practice can be overwhelming. With constantly changing regulations, strict insurance requirements, and patients’ ever-growing expectations, it’s easy for revenue to slip away, leading to cash flow issues and operational disruptions.
Thankfully, NSMD’s team of revenue cycle management (RCM) professionals can help restore financial balance to your practice. Our certified coders ensure precise billing and coding to prevent revenue loss. Our enrollment specialists secure contracts with leading insurance providers, expanding your patient base. Meanwhile, our billing experts are dedicated to collecting every dollar your practice earns.
Don’t let financial challenges hinder your practice. NSMD Medical Revenue Service has the solution to your financial woes. Reach out today and discover how we can streamline your revenue cycle to maximize collections while keeping patients satisfied.
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<<< We assist practices in achieving remarkable revenue growth of up to 20% >>>
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NSMD delivers revenue cycle management, with billing at its core.
NSMD RCM Service enhances the revenue cycle with our distinct approach to medical billing. Our proprietary SmartClaim system reviews billing codes and clinical documentation to identify potential issues before claims are submitted. This technology ensures first-time acceptance rates exceeding 98%, allowing providers to receive payments more quickly.
Boost your revenue with NSMD’s audit and insights.
Our audit specialists apply the NSMD Revenue Integrity process to assess your current revenue cycle, pinpointing areas where coding and billing improvements will yield the greatest results. Our billing consultants then create tailored solutions to address these issues. We approach your revenue cycle holistically, recommending the most effective healthcare revenue cycle management solutions to enhance its strength.
Achieve revenue cycle success with NSMD’s coding excellence.
NSMD’s medical revenue service enhances revenue cycles through expert coding. Our renowned BellCoding technology analyzes medical charts to pinpoint high-value codes. Our certified coders, equipped with CPC credentials, thoroughly review each chart to uncover revenue opportunities that algorithms might overlook. This combination of technology and expertise ensures NSMD delivers an RCM solution that drives increased revenue for your healthcare facility.
RCM ROI Case Study
Achieve Up To 20% Revenue Growth in the Next 12 Months
With NSMD's Medical Revenue Service (Case Study)
| In-House Billing | NSMD RCM | Results | |
| Charges (on average) | $142,000.00 | $142,000.00 | |
| Gross Collection Rate (GCR) | $60,000 (42%) | $84,000 (59%) | 17% Increase in Gross Collection Rate |
| Billing Costs | $6,000 | $4,800 | $1,200 Decrease in monthly cost of RCM service |
$197,000
Yearly Net Benefit
(monthly gross collection * 12 months)
≈ 30%
Overall collection increase
NSMD's End-to-End RCM Service Features
With NSMD Medical Revenue Cycle Management features, you have everything to gain and nothing to lose. Our healthcare RCM service is the trusted partner you need for ensuring your revenue cycle success.
Charge Entry Feature
- Claim creation, validation, and transmission
- Entering valid super-bill information
- Claim approval confirmation
- Claim status tracking
Remittance Processing Feature
- Processing of payments from the payers
- Processing of adjustments and denials
- Reconciling payments to the provider’s claims
Insurance Follow-Up Feature
- Following up with payers for unpaid claims
- Following up with payers for underpaid claims
- Contact payers on a provider’s behalf
- Negotiating and resolving claim disputes
KPI Reporting & Analytics
- Monitors your key performance indicators
- Analyzes days in accounts receivable
- Analyzes claim denial rate and collection rate
- Comprehensive and customizable reports
- Advanced data visualization tools
Patient Collections Feature
- Collecting patient payments
- Managing initial statement + final notice
- Sending clean bills and reminders to patients
- Convenient payment options for patients
A/R Management Feature
- Reduces the aging of outstanding A/R
- A/R workflow optimization
- Claim approval confirmation
- Collecting A/R collections from the payers and patients
Coding and Documentation
- Coding provider’s services compliantly
- Using the latest coding standards and guidelines
- Capturing relevant details that support a provider’s claims
- Justifying a provider’s reimbursement for their services
- Performing medical bill audits
Charge Capture Feature
- Capturing and validating the service charges
- Leveraging charge sheets and EHRs
- Ensuring charges are consistent with coding and documentation
- Reconciling your charges with your claims
- Reconciling charges with your contractual agreements with the payers
Contract Management
- Managing contractual agreements with the payers
- Determining how much you get paid for your services
- Reviewing and negotiating your contracts
- Monitoring the contracts’ compliance
- Analyzing the contract performance
- Using metrics like contract yield and case mix index (CMI)
Let NSMD RCM Service fix the gaps in your revenue cycle...
We pinpoint opportunities to increase your revenue by improving billing, coding, denial management, and more.
- Claims Management
- Denial Prevention
- AR Optimization
- Improved Collections
NSMD RCM Medical Billing Offers the
Solutions for Providers' Revenue Growth
Poor Cash Flow
Providers often face challenges in maintaining a consistent and reliable cash flow due to factors like bad debt and underpayments.
Better Cash Flow
Our medical RCM service minimizes bad debt and underpayments by ensuring precise and prompt claim submission and follow-up.
Mishandled A/R
Providers struggle with managing accounts receivable (A/R) because of the complexity and unpredictability of the process.
Managed A/R
Our healthcare RCM solution offers insights into A/R performance, including days in A/R, A/R aging, and A/R turnover.
Misaligned Payer Compatibility
Providers face difficulties in complying with multiple payers and managing various claim types, such as fee-for-service, value-based, and capitated.
Aligned Payer Compatibility
Our adaptable and scalable RCM platform adjusts to evolving payer requirements, ensuring maximum reimbursements for providers.
High Denial Rates
Providers often face a high rate of denials from payers, which negatively affects both their revenue and cash flow.
High Recovery Rates
Our proactive approach addresses the root causes of denials, improving denial recovery rates and enhancing revenue integrity.
More Admin Workload
Denials decrease a provider’s revenue collection and increase their workload, as they must appeal and resubmit claims.
Automated Process
Our RCM experts and EHR platform automate manual tasks, ensuring precise claim submissions with the highest accuracy.
Unsatisfied Patients
As patients become more empowered consumers of healthcare, providers face challenges in ensuring patient satisfaction.
Satisfied Patients
Our RCM service provides a patient-focused platform that enhances the patient-payer relationship through telehealth features.
Complicated Patient Management
Providers face challenges with rising patient financial responsibility, driven by high-deductible health plans (HDHPs) and self-pay patients.
Automated Patient Management
Our medical billing platform automatically calculates and informs patients of their out-of-pocket costs before the service.
Choose NSMD RCM Billing Company for Comprehensive RCM Reporting
Data Insights
View key metrics and trends of your revenue billing process through a detailed and interactive analytics dashboard. Compare your performance against industry benchmarks and pinpoint areas for improvement.
Quick Feedback
Instantly connect with our RCM experts, patients, and insurance payers through the integrated chat system. Ask questions, share feedback, and resolve issues in real time.
Detailed Reports
Dive deep into your revenue cycle with our customizable, detailed reports. Filter, sort, and export your medical billing data based on your specific needs and preferences.
Multi-Specialty Support
Manage multiple facilities and locations using our RCM reporting dashboard. View and compare data from different sites and groups in one centralized platform, with dedicated dashboards for each specialty.
Data Security
You can be confident that your data is secure. We utilize the latest encryption and authentication technologies to safeguard your data from unauthorized access and breaches.
Data Integration
NSMD’s RCM reporting dashboard allows you to integrate your data with other systems and platforms. We support various formats and standards to ensure smooth data exchange and interoperability.
Testimonials
Popular Questions
Revenue cycle management refers to overseeing the financial operations of a healthcare provider or facility. This includes billing, coding, collecting, and reconciling payments from both patients and insurance companies.
RCM services can enhance your cash flow, lower administrative costs, boost patient satisfaction, and ensure compliance with regulatory standards.
We have a strong, proactive approach to managing claim denials and appeals. First, we track and analyze the reasons for rejections and denials. Then, we quickly correct and resubmit the claims. We also follow up with payers and negotiate on your behalf to secure the highest possible reimbursement. Throughout the process, we keep the provider updated on the status and results of the claims.
Our RCM services are priced as a percentage of your collections. This means you only pay when you receive payments from payers and patients. There are no upfront fees, hidden charges, or long-term contracts. We believe this model is both fair and transparent, aligning our interests with yours.
We prioritize the security and privacy of your data. We adhere to all applicable laws and regulations, including HIPAA and GDPR. To safeguard your information, we employ encryption, firewalls, backups, and other protective measures against unauthorized access, loss, or damage.
We assess and enhance our RCM performance using key metrics and indicators such as:
Days in Accounts Receivable (DAR): The average time it takes to collect payments from payers and patients.
Claim Acceptance Rate: The percentage of claims accepted by payers without errors or rejections.
Denial Rate: The percentage of claims denied by payers for various reasons.
Collection Rate: The percentage of the total billed amount collected from payers and patients.
Net Collection Ratio (NCR): The percentage of the total amount allowed by payers that is successfully collected from payers and patients.
Our billing service brings the knowledge, tools, and infrastructure needed to manage every part of your revenue cycle. We assist with:
Ensuring precise coding and timely claim submissions
Monitoring claims and addressing denials promptly
Recording and matching payments from insurers and patients
Handling patient billing and account updates
Delivering detailed financial reports and insights
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