Revenue Cycle Management Solutions That Improve Practice’s Financial Performance

The growing threat of consolidation in radiology, degradation in inpatient care, physician burn-out, and operational efficiencies led to collaborative Imaging. The alliance allows its partners to realize additional revenue opportunities while retaining their full autonomy as an independent radiology practice. Collaborative Imaging works with a commitment to deliver revenue cycle management of all technology, business services, and managed services organization practices and business initiatives in an ethical and legally compliant manner. With integrity as one of the business mission and strategic goals, the company holds the highest value and respect for their partner healthcare groups, all affiliated business associates, and relationships to service groups. The revenue cycle management improves practice’s financial performance using the proprietary Revenue Cycle Management solution that provides work efficiency and enhanced customer experience through: 

Billing Solutions

Revenue Cycle Management software gets represented in innovation in all dashboards and reporting coupled with its dynamic nature for total transparency. Disruptive data analytics tools provide clear insights to practices enabling them to grow relying on an informed decision. In addition, the CRM has algorithms built to find ways to prevent denials. All the software possibilities get owed to the experience of the company professionals working with every national billing company, giving them a deep understanding of the critical components of the essential practice activity. 

Reimbursement Management Solutions

Revenue Cycle Management examines an entire claims lifecycle to detect loopholes in the practice’s workflow. Once the loopholes get determined, the professionals enable the client practice to automate workflows with the company AI-based technology, prevent denials and tremendously increase cash flow. The managed appeals and denials encourage the client practice to completely control the revenue missing from their pockets. In addition, an accurate review of submissions on the front end works a great deal to reduce errors. The whole process enables the client practice to achieve sustainable financial performance with the company experts who fully grasp the dilemma practices go through with margins, declining reimbursements, and increased risk while attempting to improve the care quality. 

Improve Collections

The Revenue Cycle Management solutions help practices decrease the collection cost and bad debts by collecting more payments. The solutions facilitate the collection of payments before, during, and after service ensuring that the client practice collects more, thus improving their revenue. Also, there is a reduction in the third-party collection, which boosts the patients’ payment through the convenient options for patients with no age discrimination. In addition, the solution works effectively with all significant EMR/HIS software, all for the benefit of the patient, thereby creating an ideal patient interaction and improving collections. 

Financial Clearance Solutions

The Revenue Cycle Management technology and services help practices gain financial security from the patients while maintaining an outstanding customer service experience. The software focuses on validating patients’ information upon registration and continues to ensure that the practice doesn’t lose. The software workflow includes checking to determine everything within the file is in order, and the professionals have automated the follow-up process to ensure all payments get made.