The two concerns shared by every medical practice using an RCM company are:
This is not to say other RCM services such as providing reports and statistics, collections, and additional, value-added features are not important. MedicsRCM provides a full array of those as well as described below.
But the essence of an RCM company is to produce revenue and maintain cash flow for its clients, and no one does that better than MedicsRCM. With an almost 100% success rate on ﬁrst-time claims submitted through our systems in 2013 (only 1.7% rejected vs. the industry average of 3.5% as reported by HFMA), we come as close to a 100% acceptance rate as can be found anywhere!
That’s because we’ve lived and breathed medical billing / EDI automation for almost 40 years.
Add to that the following “behind the scenes look” at our offerings, and it‘s easy to see why MedicsRCM should be your resource for ensuring your practice’s cash flow and the management information and services you need:
MedicsRCM uses MedicsPremier™...the exact same system used by thousands of physicians themselves for wide ranging practice management automation.
The advantage to you is that MedicsPremier is produced, developed and updated by ADS. There is no question as to how comprehensively we use it to handle your RCM needs:
Our claims processing team uses the Medics Claims Denial Manager for the small number of denials that may occur. Denied claims and their reason for denials are viewed, quick corrections are made, and they are resubmitted “on the ﬂy.” As we said previously, ADS comes as close to a 100% acceptance rate on your claims as possible.
Users can have remote access to the MedicsPremier system with its built-in Medics ICD-10 Code Converter. The Converter is a simple, easy-to-use mechanism that displays ICD-10 code equivalents either by the current ICD-9 code or by a text description of the code. The most appropriate ICD-10 code is selected and inserted.
To be prepared for any eventuality in terms of having your claims be processed (“no excuses”), MedicsPremier will have ICD-9 and ICD-10 codes available simultaneously for any payers who may still require ICD-9 codes even after the ICD-10 deadline date. One way or the other, your claims will be processed!
The Converter is also available in our MedicsDocAssistant™ EHR for code selection by the physician during the encounter. More information on MedicsDocAssistant appears below.
What about your claims that have not been denied, but have also not yet been paid? MedicsRCM has a great “heads up” Claim Tracking capability allowing us to track unpaid claims by viewing their up-to-the-second status in the payers’ queues.
As a full-service RCM company, MedicsRCM provides you with management and financial details through our system’s comprehensive Reports capability. A/R, Practice Analysis, Insurance Reimbursements, comparison and productivity reports are among the hundreds of reports available through MedicsRCM, the overwhelming majority of which can be exported to Excel™ for further analysis by the practice.
MedicsRCM can also produce specialized business analytics dashboards showing a myriad of financial and management data displayed on easy-to-read, all-on-one-window views with graphs and charts for easy visualization.
Data becomes more meaningful than ever before with MedicsRCM's business analytics dashboards and system reports. You will be able to see trends, strengths, and yes…weaknesses or vulnerabilities which may need correcting.
Cash flow is the practice’s lifeblood. Reports and data are the practice’s life force. MedicsRCM provides you with both, giving you the information you need to operate your practice like the business it is!
If so, you will be interested in knowing the MedicsPremier system used by MedicsRCM is powerful in how it securely and safely handles multiple Tax IDs with our HIPAA-compliant Entities.
Entities neatly keep patient data segregated, preventing the inadvertent mixing of patients’ data into incorrect provider proﬁles. Entities also preclude providers who are remote users on the MedicsRCM system from accidentally accessing patient information which is not theirs to access.
In addition to Entities, MedicsRCM can also utilize Directories if needed for practices that have multiple locations or in some cases, totally diﬀerent corporate names.
If you have ever had a bad experience with an RCM company’s inability to properly handle your practice’s multiple Tax IDs / locations, then you know what a nightmare that can be.
The very dynamic Medics Appointment Scheduler is available for practices wanting scheduler access.
With remote access, Insurance coverage and “pre-certs” can be obtained individually or in batch format through the MedicsRCM Appointment Scheduler. For example, veriﬁcations can be processed for all patients with appointments tomorrow, next week, etc.
Veriﬁcations typically take seconds, and patients can be notiﬁed by the practice in advance of any coverage issues or requirements prior to the appointment.
Users with remote access may want to utilize the Medics OnCall™ capability for smartphone connectivity. Medics OnCall is excellent for hospital rounds or for general remote access to schedules, patient demographics, etc.
The detailed, built-in Audit Trail automatically tracks system activity by user…incredibly important for practices that want remote access to their MedicsRCM data. We can always provide information to the practice as to their remote users’ system activity.
MedicsRCM uses ExpressBill™ which provides for a quick and seamless method of production and fulﬁllment of patient statements for just pennies more than the postage.
e-Statements from ExpressBill making the entire patient statements process completely paperless.
e-Statements are sent directly to the patient’s email address (or whichever email address is provided for the patient) in secure, HIPAA-compliant format. They can be tracked as to when received, and whether or not they are opened…an excellent feature for collections.
Each e-Statement has a “pay now” button; patients can click-in and make their payments via a secure portal and obtain payment receipts automatically, essentially automating the entire patient statement process. Payments go directly to your practice with notification to MedicsRCM to discontinue billing the patient on that particular statement, or to adjust the balance if partial payment is made.
e-Statements that are returned as undeliverable to the email address are automatically reverted to paper, ensuring that a statement is sent regardless of format.
Our MedicsDocAssistant EHR Version 7.0 which is certiﬁed as a complete EHR for Stage 2 Meaningful Use can be made available to your practice in Cloud / ASP format with integration to the MedicsPremier system used by MedicsRCM. If you prefer, MedicsDocAssistant can also be obtained in customer hosted (client server) configuration with the MedicsDocAssistant server located at your practice.
As a Stage 2-certiﬁed EHR, your physicians can use MedicsDocAssistant EHR to obtain the maximum Medicare / Medicaid ﬁnancial incentives to which they are entitled.
MedicsDocAssistant can also be used by physicians who have not yet attested to Stage 1.
Using MedicsDocAssistant will also help to avoid penalties looming against 2015’s Medicare claims for not using a certified EHR.
If you have never used an EHR, now is the time to implement! Avoid penalties and obtain your incentives at the same time, all with an “invisible” bi-directional interface with the MedicsRCM MedicsPremier system.
ADS is a Medical Economics 2013 Top 100 EHR vendor with MedicsDocAssistant being excellent for multiple specialties including radiology, behavioral health, and primary care and specialty practices.
Let us know if you are interested in seeing MedicsDocAssistant…we are happy to schedule a personalized system overview for your practice.
If yours is a radiology practice, MedicsRIS™ is available through MedicsRCM for state-of-the-art radiology information system access.
ADS has performed both hundreds of data conversions from existing PM systems, and interfaces to existing / other systems.
If you are currently using your own PM system and would like data converted to our MedicsPremier system, or if you have data with another revenue cycle management company, there is an excellent chance ADS programmers can perform a data conversion or interface.
ADS provides quick Implementation and comprehensive Training for remote users, and for other ADS systems that may be used such MedicsDocAssistant or MedicsRIS.
ADS is a Healthcare Billing and Management Association (HBMA) Corporate Member.
Contact ADS for more information on our RCM services and how your practice can benefit from our almost forty years in medical billing, EDI and more!