Many small businesses took a financial hit during the pandemic, especially medical practices. Small practices nationwide have reported steep declines in revenue. Rapid changes in the industry, including the widespread use of telemedicine platforms, have also had a great impact on practices. Many practices have outsourced revenue cycle management services in order to keep up with the changing industry and get the most out of their revenue.
How can revenue cycle management improve your practice’s revenue?
Revenue cycle management companies like Orchard Medical Management help your practice optimize their revenue cycle by perfecting the billing workflow to increase your claims. Their billing experts help you deal with difficult collections and eliminate coding errors. Taking away these administrative tasks frees up practitioners’ time to see more patients, allowing you to increase your revenue. Revenue cycle management optimization reduces claim denials and addresses other challenges of payment collection. Their expert staff dedicates their time to address complicated billing issues, so doctors and other practitioners can dedicate more time to their patients.
Orchard Medical Management’s services go beyond revenue cycle management. Their team can help streamline all of your practice’s functions. They also offer practice management, human resources management, and credentialling services. Practice management can be time consuming. Orchard Medical Management has years of experiencing building and maintaining medical facilities and practices. They understand the demands of the industry and can assist with budgeting, staffing models, and implementing new services or locations. They are also experts in credentialling providers with insurance companies and can help grow your practice with qualified staff. Their human resources management services can help your practice better manage employee benefits and insurance coverage and can even automate payroll. From onboarding to offboarding, and maintaining valued and talent staff, Orchard Medical Management can help your practice thrive and alleviate the administrative burden of running a practice.