RCM, or Revenue Cycle Management, essentially refers to billing. No matter what you call it, it can be intricate and confusing, especially since dental billing procedures and payment processes are frequently changing.
In other words, for a dental practice to thrive financially while maintaining top-notch patient care, dental billing must be managed at a professional level. This demands RCM staff with extensive expertise in the constantly evolving field, utilizing the most advanced technology-enabled systems.
This involves an organization contracting an external company to handle all or part of its financial processes. For dental providers, an RCM outsourcing company is responsible for identifying, collecting, and managing the practice's revenue from both payers and patients.
As previously noted, RCM is highly complex and constantly evolving. When your staff is tasked with administrative duties for which they may not be fully trained or lack sufficient time, it not only affects the accuracy of billing but also detracts from other crucial responsibilities, including patient care.
To maximize efficiency and revenue growth, RCM billing should be managed by professionals with in-depth knowledge of best practices and procedures. This ensures your practice maintains optimal effectiveness in scheduling, billing, coding, and collections.
Experts in RCM are well-versed in critical aspects of the process and meticulously ensure accurate provider and patient information prior to claim submission to prevent denials and payment delays. Incorrect claims often result in insurance carriers returning them for additional information, causing payment delays, or denying them outright, leading to underpayments.
When handled correctly by the right team, your practice will:
Enhance collections and cash flow by:
Lower costs by:
The term “outsourcing” might suggest that a practice's information could become inaccessible when managed by an external organization, or that on-site staff might lack support for questions, updates, and ongoing RCM challenges. But that's not the Ambit approach. We use the term “partnership” alongside “outsourcing” because we believe in working closely with each dental practice we serve. We integrate seamlessly into your practice, providing customized billing support. Our Ambit team is skilled in all major practice management software (PMS) platforms, ensuring comprehensive support tailored to your needs.
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