Uploaded on Jul 21, 2022
Revenue Cycle Outsourcing ensures steady revenue cycle for your practice by focusing on collecting and verifying all details of patient enrollment.
Why is Revenue Cycle Outsourcing Important in Healthcare
Why is Revenue
Cycle Outsourcing
Important in
Healthcare?
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Revenue Cycle Management
Revenue Cycle Management is the backbone of
healthcare; driving the Medical Billing Company,
Physician Practices, Hospitals, and Medical groups
financially successful even during the dire straits.
The importance and benefits of
Revenue Cycle Outsourcing or Offshoring are
multifarious and cannot be contained or limited to certain
points of discussion, however, listed below are a few
primary reasons to answer the question of why Revenue
Cycle Outsourcing is Important in Healthcare?
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Eliminate Administrative Burden
Increase Healthcare ROI and Profitability
Optimize the Financial health of the Medical Billing
Company.
Achieve expected business growth and development
within the targeted timeframe
Efficient Staff Management covering all aspects like hiring,
training, absenteeism and absconding related issues and
responsible for continuous process flow at any given
situation.
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Experienced team of billers and coders
Quality work with reduced claim denials and an increased
higher first-pass rate.
Streamlines work process and strategical approach to
meticulous details.
Further to the above-listed advantages of Revenue Cycle
Outsourcing, there is a myriad of qualifying benefits that
makes it not only important but also an inevitable part in
U.S healthcare.
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Outsourcing Revenue Cycle Management
Outsourcing Revenue Cycle Management has been a
boon during the COVID19 and global pandemic.
Healthcare firms and Medical Billing Companies in the
U.S choose outsourcing and offshoring over in-house
billing to sustain the drastic effects of inadequate staffing,
ongoing changes and update, and an abrupt increase in
the telemedicine process with related changes in
Medical Billing and Coding guidelines, protocols and
regulation.
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These situations had brought Medical Billing companies to
a blind alley, Providentially with Revenue Cycle
Outsourcing Services, U.S healthcare has not only
sustained but according to the Market Analysis Reports
published in April 2022* Revenue Cycle Management grew
at the rate of 17.2% from the year 2019 to 2020 and the
market post COVID outlook is estimated to witness approx.
10% -11% growth year on year until the next five years.
Source: * https://www.grandviewresearch.com/industry-analysis/us-revenue-cycle-management-rcm-market
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The increase in financial growth and profitability along with
increased quality services and stress-free medical billing
experience is the reason why many have opted out
for Revenue Cycle Outsourcing. With Offshore Revenue
Cycle Management Services, billing companies are entitled for:
Time Advantage of 9-12 hours: Offshore Outsourcing
guarantees the Billing companies with the benefits of time
advantage by having all the claims data entry-related activities
processed by their night hours, thereby speed up the process
and cash flow.
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Specialty Based Expertise: An established Revenue
Cycle Management Partner does not only cover end-to-
end scopes of services but also pitches in with their
unlimited support with any new medical specialty or
understanding the nuances of a certain complex specialty
in Medical Billing.
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Software Expertise: With experience handling various
clients across the US with different medical billing
software for claims processing day in and out, the team is
efficient and adept in handling or taking over any Practice
Management System or EMR in the market and can kick
start the billing process with standard quality percentage.
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Physician Credentialing: Apart from the RCM scope of
Services, an offshore-based Medical Billing Company can
also support with Physician Credentialing, Provider
Enrollment and Re-credentialing requirements of the
physician and Billing Companies to help keep them up to
date with their credentials and CAQH profile.
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About US
ecare india is a 21-year-old
Medical Billing Company providing
complete Revenue Cycle Management
services across the U.S. Fully compliant
with HIPAA compliance certification and
internal security policies to protect
information confidentiality and PHI, e-care
guarantees cost-effective Medical Billing
Services with Increased ROI.
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Contact us
To know more about ecare
call 1-813-666-0028
log on to www.ecareindia.com
www.ecareindia.com
Thank You
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