With the constant changing of coding, billing and reimbursement guidelines, having an in-house revenue cycle team probably seems challenging and overwhelming.
Let Legacy provide the PRESCRIPTION for your practice’s financial health.
No, one size doesn’t fit all – healthcare organizations are under pressure to improve the quality of care, while facing declining reimbursement and increased risk. Maximizing revenue cycle efficiency and improving medical billing and accounts receivable management are critical to achieving these goals.
How much has your practice lost due to timely filing?
Each payor has a different timely filing limit, and they may vary based on state or individual contract. Without dedicated AR follow-up worklists, prioritized by age and timely filing limits, practices have the potential to lose thousands each year.
Do you have the necessary resources to follow up on your unpaid or denied claims?
Let’s say you are a two physician practice. Each provider sees 35 patients a day, 5 days a week. That’s 350 claims per week. Now let’s say you have one person in your billing department. That person is going to need to touch 70 claims per day to stay on track – and that’s just new claims. Add in the follow-up on denied and improperly reimbursed claims, and it’s going to be virtually impossible for your one-person billing department to keep up and manage it all effectively, no matter how highly skilled they are.
This is where Legacy can help!
Legacy can support your existing billing team, or we can even become your complete billing solution! We help teams by supplementing where you’re missing resources, as well as by working your billing team to make processes more efficient and effective. Alternatively, we can provide you with an entire billing solution, where you outsource your medical billing, taking it off your hands completely.
Best Practices and Customized Solutions
Healthcare organizations need both! At Legacy, we take proven best practices and then customize them to meet the unique needs of your organization.
Our tailored solutions help you:
- Increase Cash Collections
- Improve Revenue Cycle Management Efficiency
- Identify Missed Charges and Cash Flow Opportunities
- Reduce Administrative Burdens
With Legacy Revenue Cycle Management, hospitals and healthcare practices increase cash flow and achieve improved financial performance.
We identify reimbursement opportunities that can deliver an immediate return.
The key is our ability uncover specific areas responsible for financial under-performance. We have the teamwork expertise, depth of experience, and benchmarks needed to accurately assess your revenue cycle, address the challenges, and improve profitability. As an extension of your team, we have the resources to strengthen the financial health of your organization – and all without adding more time to your day or costs to your bottom line.
Partner with us to manage your entire revenue cycle – so you can focus on delivering quality care.
Increasingly, CFOs are partnering with experts to administer core revenue cycle management processes to become more operationally efficient and improve financial performance. Imagine if your hospital or healthcare practice had the resources it needed to devote more time and energy to patient care.
Our end-to-end revenue cycle management and medical billing services can provide as much or as little help as you need.
If your healthcare organization is struggling to improve its revenue cycle operations, we can help. Our domain expertise in both physician and hospital billing and claims management, combined with end-to-end revenue cycle management services, help organizations like yours reduce operating costs and accelerate cash flow.
Our partnership approach allows us to address both the issues and the opportunities facing your organization.
We work with your team to analyze your operational needs, compare performance to industry-leading benchmarks, and develop the go-forward plan. This plan is crafted to optimize revenue cycle operations and implement revenue cycle best practices across your health system and across multiple information systems. We understand that no single solution or one-time fix can address the challenges hospitals and physicians face in this dynamic healthcare environment.