Precision is committed to providing best-in-class revenue cycle services to hospitals and physicians across the country. To do so effectively, Precision stands ready to prepare its clients to navigate effectively through all of the revenue cycle, electronic health record and IT challenges that have emerged.
We support clients who have won the HFMA’s MAP Award for High Performance in Revenue Cycle several years running, with Precision’s partnership critical to their success. Winners must be PFC Adopters and meet the highest standard of excellence for criteria including MAP Keys, implementation of Healthcare Dollars & Sense™ initiatives, and outstanding patient satisfaction.
To meet those requirements, our clients rely on us to manage their revenue cycle processes, providing clean claims, account resolution, and financial management services.
Whether it’s meaningful use adoption, ICD-10 training, electronic charge capture, or transitions to different payer payment models, hospitals and physicians must be equipped with the information and tools to respond to changes and innovations in the industry quickly and effectively. Precision is an expert in all such areas and is here to help you prepare for the future of the industry.
Optimizing Part B revenue cycle management is always a matter of managing many smaller but very important items that collectively produce a measurable improvement in profitability. Educating providers on coding changes, recommending changes to EHR software templates, developing software system interfaces that eliminate redundant data entry, enhancing patient statement and delinquency letter protocols, establishing collection agency and patient refund protocols, monitoring and updating fee schedules, and providing more effective and timely reporting so as to allow for better financial and clinical management decisions, all improve a hospital’s Part B profitability – and this is only a partial list of the subject matter addressed by Precision in optimizing Part B revenue cycle processes and workflow.
Coupling RCM optimization with “change management support”, with Precision working with hospital staff to transition practices and providers joining the hospital’s network, engaging in practice management software conversions, supporting coding education and credentialing for incoming providers, makes Precision a critical part of the team that a hospital can assemble to manage its Part B revenue cycle. The solutions provided for each specific hospital will be unique, with Precision tailoring its services and support based upon need, but in all cases, Precision’s support and services will add measurable value and help each hospital client achieve its Part B goals.
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Our expertise in revenue cycle solutions stems from our long history collaborating with physicians and hospitals in nearly every medical specialty prevalent today, providing them with complete, comprehensive, best-in-class revenue cycle services to clients of every scale. Our revenue cycle solutions include, but are not limited to:
"My pediatric practice, Children's Clinic, has worked closely with Precision for many years in an effective partnership that has contributed greatly to the management of our practice. In order to best serve patients, the "business side" of things must run extremely well. Precision appeals insurance low pays on drugs and provider services, communicates coding updates and specialty-related and billing changes, tracks office collection of copays and patient balances, compares our coding levels to national distributions and identifies our denial and rejection issues, to name just a few. Monthly meetings with Precision allow us to review month end reports, identify opportunities for improvement and constantly "raise the bar" on our performance as a practice. In today's difficult economic environment, Precision is a business partner we can count on."
