Revenue Cycle Solutions
The revenue cycle process for the healthcare field, including the steps involved and how to improve your medical claims.
Revenue cycle management in healthcare is your practice or group's administrative and clinical efforts that work to manage and collect patient payments. Also known as the medical billing cycle, this process begins with eligibility and benefits verification and ends with reporting.
Orion HealthCorp, Inc., partners with providers and physicians from multiple specialties to manage the medical billing cycle and increase revenue gained. Orion works to free these clients from billing, denial, and compliance concerns and allows them to focus on patient care.
When physicians work with Orion, they receive a host of complementary services that positively impact practice performance and provide greater control over the business side of their practices.
What is Involved in Orion's Revenue Cycle Management?
- Revenue increase from ensuring patients are eligible for medical services and verifying pre-authorization prior to the exam
- Access to proprietary software and reporting where you can see and track each stage of a claim or batch from first logged to posted payment
- Active follow-up for unresolved claims issues and diligently appeals process for denied claims
- Denial and coding errors analysis that maximize recovery rate
- Predictive modeling to help you forecast future revenue streams and support cash flow
- Compliancy with Medicare and HIPAA, and offers an optional certified EMR platform that satisfies HITECH requirements, qualifying you for performance incentives
- Transparency through comprehensive reporting and web-based tools that let you manage performance
In addition, one of the Orion subsidiaries, Integrated Physician Solutions, offers a Vaccine Group Purchasing Alliance that helps medical practices nationwide lower vaccine costs with an affordable and well managed program. Learn more by visiting the Orion IPS site.
The Healthcare Revenue Cycle Flowchart
Orion’s innovative RCM System encompasses a comprehensive approach to medical billing and collection, which is supported our proprietary, state-of-the-art software specifically built for revenue generation.
This system is designed to ensure every step of the RCM is completed. Our systematic process leaves no medical claim behind. Our unique approach to RCM identifies each claim as its own entity and treats it as such throughout the claim’s life cycle. We deliver billing and collections services to help physicians receive optimal earnings for the care they provide.
We have the proven expertise and experience to effectively manage your billing and collections—so you receive more of the revenue you’ve earned faster.
Our robust workflow considers the full cycle life of a claim, encompassing:
- Validation of patient pre-authorization through MDInsuranceAuth
- Verification of member eligibility and benefits through MDEligibility
- Proper claims processing and submission
- Timely payment postings
- Management of denials including an intelligent appeals strategy
- Proactive AR follow up
- Comprehensive or customized reporting that enable you to manage performance
- Access to software which allows you to see each stage of a claim or batch from initial logged to posted payment
- Internal and integrated litigation that go after specific revenue losses
Comprehensive and Customized Reporting
Orion is committed in providing unparalleled transparency in our client relationships. We provide you with access to proprietary software where you can see and track each stage of a claim’s life cycle. We work with you to develop customized reporting templates to enable you to see your practice’s financial performance and help you to identify opportunities for improvement. As a result, the status of a claim is never a mystery.
Orion’s RCM system is compliant with Medicare, HIPAA and HITECH requirements. Our stringent adherence to PHI and confidentiality affords you the ability to meet regulatory requirements
Learn More About Financial and Practice Management
By providing complementary business management services to our clients, we make it easier for the physician to address their top priority - caring for patients. We use our expertise to understand your business processes and gain insight into what drives your bottom line.
Orion offers practice management and billing services to effectively streamline the providers’ revenue cycle and increase collections. Our proven methodologies and leading-edge technology assure improved cash flow, increased efficiency and maximized revenue for the provider. We apply our industry knowledge and experience to impact practice performance and contribute to the overall financial success of our client.
You can learn more about the revenue cycle management process by downloading our RCM Guide. Inside we explain the questions to ask at every stage of your medical claim process, the workflow, and strategies for faster payments.