Revenue cycle management (RCM) is the process that manages claims processing, payment and revenue generation. The process of medical billing is growing increasingly complex and there is no reprieve in sight for the independent practice. Most practices simply lack the knowledge, bandwidth, and expertise required to adapt or effectively navigate these complexities. Consequently, the results can be devastating in terms of revenue capture.
Limited Tools, Limited Performance
Adding to the confusion and complexity, typical Practice Management platforms and EMR systems are not user friendly, and often-times they are simply counter-intuitive. This leads directly to billing and coding errors that can cripple your practice from a cash-flow perspective. Perhaps more damaging, most PM/EMR systems do not offer the kind of sophisticated reporting that is necessary for any practice to avoid that feeling of flying blind as it regards their finances. This creates a significant gap between the access to data and the ability to understand that data. Encoda is expert-level proficient on all of the major PM and EMR/EHR systems, providing us with the ability to generate actionable intelligence on all matters relating to the financial health of your practice.
The Process is Flawed
Insurance companies and regulatory agencies are not motivated to assist medical professionals with revenue capture. In fact, it’s quite the opposite. As a result, you need an ally (a team of allies) to help you navigate your way through all of the hurdles placed before you. To ensure our clients receive the most extensive help, Encoda acquired MedCoData. Read on to learn how our team of experts offers the most comprehensive business intelligence and financial analysis available in the marketplace today.