Revenue Cycle Management

Maximize Your Practice Revenue

You can rely on us because we offer:

Accelerate turnaround times with our streamlined process.
Minimize manual data entry with our automated system.
Gain deeper insights into your laboratory's financial performance
with tailored reporting.
Protect sensitive data with our robust, HIPAA-compliant security
measures.
Enjoy fair pricing with no lock-in periods.

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Catering to
20+ specialties

Trusted by 500+
physicians

900+ certified
medical billers and coders

End-to-End
Automated Billing Solution

Up to 98% First Pass
Clean Claim Rate

How Our Revenue Cycle Services Work

However, at HBS, we engage in a complete implementation cycle of Revenue Cycle Management (RCM) to effectively guide the patient’s process to maximize revenue odds. First we start out by doing the most patient registration and eligibility verification, we are as precise and accurate as you can possibly be to minimize those claim denials.

We have our skilled coders to ensure accurate coding and charge capture and ensure maximum settlement at the risk of minimum compliance risk. Our real time claims monitoring using advanced technology and in comport with industry best practices, provides both efficiency and alertness to issues and thereby reducing denial and achieving timely reimbursements.

With our RCM experts, we take great satisfaction in upsetting denied claims and recouping revenue potentially lost. A fit revenue cycle depends on the timely and accurate posting of payment. HBS RCM services will help you with a smooth cash flow and conveniently manageable financial settlement.

Securing Your Data: A HIPAA-Compliant Approach

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_{Our skilled coders ensure accurate coding and charge capture, maximizing settlement while minimizing compliance risks. Using advanced technology and industry best practices, we offer efficient real-time claims monitoring, proactively addressing issues to reduce denials and ensure timely reimbursements.}

_{Our RCM experts are dedicated to upsetting denied claims and recovering revenue that might otherwise be lost. Timely and accurate payment posting is vital to maintaining a healthy revenue cycle. With HBS’s RCM services, you can expect improved cash flow and a streamlined financial settlement process.}

Uptime Assurance

We ensure an impressive 92.9% uptime to maintain continuous availability of our RCM services.

HIPAA Compliance

We implement rigorous measures to not only meet but exceed HIPAA regulations.

SOC-1 & SOC-2

We adhere to both SOC-1 and SOC-2 protocols, upholding the highest industry standards in security.

Disaster Recovery

We ensure uninterrupted data accessibility with robust disaster recovery measures.

Medical Billing Specialities

A small river named Duden flows by their place and supplies it with the necessary regelialia. It is a paradise

500$M+

Value of Claims Processed

24

Accounts Receivable Days

48 Hours

Turn Around Time (TAT)

99%

Customer Retention

OUR NUMBER OF ACCOMPLISHMENTS.

We audit your medical practice upside down and come up with a workflow that optimizes your performance in every manner and adds value to the crumbling billing system.

Maximize Your Practice with the Results-Driven HBS RCM Advantage

Partnering with HBS unlocks the full potential of your practice’s revenue cycle. Our proven RCM model consistently delivers tangible results for healthcare providers across the industry. Here’s how you’ll benefit:

Achieve a 96% Collection Rate:
HBS’s focus on accuracy, efficiency, and proactive management results in an impressive 96% average collection rate, putting more revenue in your pocket.
Boost Clean Claim Submissions, Reduce Denials:
Our meticulous coding, claim submission, and denial management strategies lead to a higher clean claim submission rate, resulting in fewer denials and a smoother revenue cycle.
Recover Unpaid Balances:
HBS goes beyond the basics, specializing in recovering revenue from denials, appeals, and outstanding patient balances. Our comprehensive approach ensures you capture every dollar owed to your practice.
Experience Rapid Turnaround:
Enjoy rapid denial resubmissions within 48 hours, along with proactive denial alerts that help prevent future issues.
Enhance Patient Communication:
We emphasize not only efficient billing but also effective patient communication. Benefit from immediate patient statements and seamless online payment options, creating a patient-centric financial experience.

From Registration to Collections: Comprehensive RCM Solutions

HBS is recognized as one of the leading medical billing companies in the USA, providing end-to-end solutions to optimize your revenue cycle. With cutting-edge technology and a team of experienced professionals, we ensure healthcare providers can concentrate on delivering exceptional patient care while we handle the complexities of cash flow management.

Appointment Scheduling

Appointment scheduling ensures efficient time management, reduces no-shows, improves patient experience, and enhances overall revenue cycle management for healthcare providers.

Patient Registration

Patient registration is the foundation of the revenue cycle, capturing accurate patient data to ensure seamless billing and claim processing.

Eligibility and Benefits Verification

Eligibility and benefits verification ensures that patients’ insurance coverage is confirmed prior to services, reducing claim denials and optimizing reimbursements.

Utilization Review

Utilization review assesses the medical necessity and appropriateness of healthcare services, ensuring optimal care delivery while preventing unnecessary costs and claim denials.

Referral Authorization

Referral authorization ensures that patients receive proper approval from their insurance providers for specialist services, preventing claim denials and ensuring seamless reimbursement.

Describing Changes

Describing changes involves clearly outlining any modifications or updates to processes, systems, or policies to ensure all stakeholders understand the impact, benefits, and necessary adjustments required for smooth transitions and continued efficiency.

Coding and Billing

Coding and billing involve accurately translating healthcare services into standardized codes (ICD, CPT, HCPCS) for claims submission. This process ensures providers receive timely and appropriate reimbursements while minimizing errors and claim denials.

Charge Posting

Charge posting is the process of recording and entering the details of medical services provided, along with their associated fees, into the billing system. This ensures accurate claim submissions, timely reimbursements, and proper revenue tracking for healthcare providers.

Submitting Claims

Submitting claims involves sending accurately coded and documented medical service details to insurance companies for reimbursement. This step is critical for ensuring timely payments, minimizing denials, and maintaining a smooth revenue cycle.

Clearing Housing Denials

Clearinghouse denials occur when claims are rejected during the initial electronic review by a clearinghouse due to errors in coding, formatting, or missing information. Addressing these denials promptly ensures that claims are corrected and resubmitted, reducing delays in payment and improving overall revenue cycle efficiency.

Payment Posting

Payment posting is the process of recording payments received from insurance companies and patients into the billing system. This step ensures accurate tracking of revenue, identifies any discrepancies or underpayments, and enables timely follow-up on unpaid or partially paid claims, contributing to efficient revenue cycle management.

Denial Management

Denial management involves identifying, analysing, and addressing denied claims to ensure timely resolution and recovery of revenue. This process helps reduce future denials by pinpointing recurring issues, improving claim accuracy, and maximizing reimbursements for healthcare providers.

Secondary Filling

Secondary filing is the process of submitting claims to a secondary insurance provider after the primary insurer has processed a claim. It ensures that any remaining balances not covered by the primary insurance are billed to the secondary payer, optimizing reimbursement and reducing the patient's out-of-pocket costs.

Accounts Receivable

Accounts Receivable (AR) refers to the outstanding payments owed to healthcare providers for services rendered. Managing AR involves tracking unpaid claims, following up with insurance companies and patients, and reducing the time it takes to collect payments.

Appeal Procedure

The appeal procedure is the process of challenging denied or underpaid claims by submitting additional information or corrections to the insurance company.

Our Certifications

Our medical billing services adhere strictly to CMS Laws and HIPAA guidelines

Empowering Healthcare Organizations to Thrive

Our Success is echoed in the Satisfaction of Our Providers

"As a practice manager, I was searching for ways to streamline our medical billing process. I had tried other companies, but they were too complicated and time-consuming. Thankfully, I found HBS. They excel at customizing solutions to meet my specific needs, making the process much more efficient."

Jodi Amerson

Practice Manager

"HBS has helped us save countless hours while significantly improving our bottom line. The team is friendly, professional, and always available to assist with any questions we have."

Dr. John

Covey Medical Labs

"HBS has helped us save time and improve the accuracy of our billing coordination. Highly recommended for any lab!"

Dr. Sara

Laboratory Manager

We are fully trained on your existing EMR

Our medical billing specialists know the workarounds of all the EHRs. We help you submit clean claims no matter which EHR you use.

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How much do RCM Services cost?

The cost of RCM services varies depending on the specific needs and scale of your practice. At HBS, we offer tailored solutions to ensure you receive comprehensive revenue cycle management support. Our pricing is designed to deliver value while accommodating your unique healthcare requirements. For detailed cost information and a personalized plan, contact HBS for a free consultation.

Why Not Manage Billing In-House?

Managing billing in-house can be resource-intensive, requiring dedicated staff, specialized software, and meticulous attention to detail. HBS takes that burden off your shoulders, allowing you to focus on patient care. Our team of certified coders and specialists ensures accurate claims submissions, maximizing reimbursements and minimizing denials.

Does the Provider Handle Denial Management for Ongoing Claims?

Yes, HBS specializes in denial management for current claims. Our experts work diligently to address and resolve denials, securing payments from insurance within 26 days to optimize your reimbursement process.

Do They Analyse and Track All of My Rejected Claims?

At HBS, we thoroughly analyze and track every rejected claim. Our team of over 1,100 certified billers and coders identifies root causes, implements corrective actions, and optimizes your claims process to enhance efficiency and maximize revenue.

When should Revenue Cycle Management be outsourced?

Outsource RCM when managing billing complexities becomes challenging, when in-house expertise is lacking, or when cost savings are a priority. Both small practices and large hospitals can benefit from outsourcing, as it ensures efficient revenue collection, compliance, and allows staff to concentrate on core patient care.

What are the benefits of an effective Revenue Cycle Management platform?

An effective Revenue Cycle Management platform enhances financial performance by streamlining billing processes, reducing claim denials, and accelerating payments. It ensures compliance with industry regulations, improves cash flow, and allows healthcare providers to focus more on patient care rather than administrative tasks. Additionally, it offers valuable insights through detailed reporting, enabling better decision-making and overall operational efficiency.

Why is RCM so important in healthcare and to hospitals?

Revenue Cycle Management (RCM) is crucial in healthcare because it directly impacts a hospital's financial health and operational efficiency. Effective RCM ensures that healthcare providers receive timely and accurate payments for services rendered, reduces claim denials, and minimizes revenue loss. It also helps maintain compliance with complex regulations, allowing hospitals to focus on delivering quality patient care. By optimizing cash flow and financial processes, RCM supports the sustainability and growth of healthcare organizations.

Frequently Asked Questions

Get to know the answers of frequently asked questions about our laboratory billing services.

Take the first step toward financial success with our RCM services. Your prosperous future begins today!

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