Revenue Cycle Management
Designed by a medical practice,
for a medical practice.
A Revenue Cycle Management company you can trust
Accomplished Revenue Cycle professionals with over 20 years of experience in various aspects of revenue cycle management, medical consulting, credentialing, improvement processes, patient access, payer contract negotiations, financial analysis, and EMR implementation.
Why Choose Us
Have you ever asked yourself if your medical practice is running as smoothly as it should? We help streamline your medical practice management by measuring revenue cycle for optimal financial performance.
A crucial aspect of any efficient medical practice is to fully understand the revenue cycle process. Midwest Revenue Cycle Management can implement and perform proven solutions that help you give this aspect of your business the attention it deserves.
We will help you:
- Simplify all important financial and operational processes for desired financial performance
- Significantly reduce billing overhead expenses and improve payer response
- Cut time between providing a service and getting paid for it
- Save time by outsourcing tasks that were previously completed by your employees
- Save you money by educating you to understand why certain claims have been denied
- Reduce the number of denied claims
Midwest Revenue Cycle Management services deal with each medical practice function. We help manage your revenue cycles to ensure that your receive full payment for provided services.
Understand What Revenue Cycle Management Stands For
Revenue Cycle Management or RCM is a financial process that starts the moment a patient schedules a medical appointment and ends when the billing of medical services from the payer (insurance company) is completed. RCM uses special software for medical billing and collection that facilitates the entire process.
As said previously, the process begins when the physician examines the patient and specifies the diagnosis and procedure codes which are then forwarded to the payer. Every insurance company has their medical claims examiners who approve or deny the claims upon evaluation. There are a few elements that decide whether the claim will be accepted or declined, such as the eligibility of a patient, the credentials of the medical provider, and medical necessity.
If the claim has been denied by the insurance company, the medical provider makes corrections and sends it back. The whole process ends once the insurer pays the medical bills of a patient or a provider accepts the compensation offered.
In recent years, the industry has seen an increase in medical providers choosing a Revenue Cycle Management company to partner with to lessen the administration burden. In that way, healthcare providers increase their efficiency and the ability to offer better medical services to patients in need.
Read Testimonial
I have used Midwest Revenue Cycle Management or MRS for over two years and am extremely happy with the broad knowledge and expertise provided to my providers. Rachel’s hands on approach as the business owner, makes me confident she is caring for the physician’s business as if it is her own. I would highly recommend Midwest Revenue Cycle Management to help you achieve your business and financial goals.
CURRENT CLIENT, Practice Consultant and Administrator
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