Unlock Revenue Potential with PractoPulse Accounts Receivable Solutions!
Why Choose PractoPulse?
At PractoPulse, we understand the challenges physicians face. Our Revenue Cycle Management (RCM) solutions are tailored to enhance cash flow, reduce rejections, and expedite insurance/patient payments. With proven strategies, we optimize revenue and operational performance, addressing daily billing challenges efficiently.
Our Path to Success:
- Charges entered and submitted within 48 hours for prompt processing.
- Clearing house rejections resolved within 24 hours to minimize delays.
- Eligibility verification conducted pre-claim submission to prevent denials.
- Aggressive follow-up on aged AR claims to maximize collections.
- Adherence to MGMA standards for specialty-specific guidance.
- Three-tier quality checks ensure accuracy and efficiency.
- Regular refresher training sessions on insurance updates for staff.
- Weekly, monthly, and quarterly KPI dashboards for performance tracking.
- Reconciliation dashboard for transparent monitoring of services and charges.
Accounts Receivable Follow-Up Services:
PractoPulse employs AR management based on Age Trail Balance (ATB) by Insurance, facilitating faster payments and reducing AR days. Our primary goal is to maintain Insurance AR days below 40 days.
Remarkable Features:
- Lesser A/R Days
- Faster insurance payments
- Increase in First Pass Ratio
- Increase in Net Collection Ratio (NCR)
- Underpayment Follow-Up
- Skip Tracing on high-value patient accounts
- Reduced eligibility rejections
- Denial Management & Aged AR follow-up
- Appeals and resubmission of claims as appropriate
- Business Intelligence Reporting
Key Metrics and Objectives:
- Denial Management: Ensure Denial Rate <= 7%, Underpayments additional collection rate>= 75%, Appealed denials overturned rate 40-60%
- A/R Management: Percentage of Insurance A/R above 120 days at 12-18%, Assist in maintaining Insurance A/R Days at 35-45, Insurance Net Collection rate retained at 94-97%
KPIs: Key Performance Indicators help us review process performance through measures such as Charges, Payments, Contractual Adjustments, and Write Offs, with metrics including AR Days, GCR, NCR, and Self-Pay AR (%).