Revenue Cycle Management
Just What the Doctor Ordered!
Let Legacy provide the PRESCRIPTION for your financial health.
How can we help? We simplify the complex.
No, one size doesn’t fit all – healthcare organizations are under pressure to improve the quality of care, while facing declining reimbursement and increased risk. Maximizing revenue cycle efficiency and improving the areas of medical billing, coding and accounts receivable management are critical to achieving these goals – of course, most of the time, without additional capital expenditure.
How much has your practice lost due to timely filing?
Each payor has a different timely filing limit, and that can vary based on state or individual contract. Without dedicated follow up prioritized by age with timely filing limits in consideration, practices have the potential to lose thousands each year.
Do you have the necessary resources to follow up on your unpaid or denied claims?
Let’s say you are a 2 physician practice. Each provider sees 35 patients a day, 5 days a week. That’s 350 claims per week. Now let’s say you have one person in your billing department. Take your average 8 hour workday and subtract one and half hour for lunch and breaks. That leaves 6.5 hours of effective working time. That person is going to need to touch 54 claims per day to stay on track.
This is where Legacy can help!
Legacy can supplement missing resources and work directly with your current billing team to make processes more efficient and effective. Or if you need an entire billing solution, Legacy can do that as well.
Healthcare organizations need both proven best practices and customized solutions. Legacy offers you proven best practices, customized to meet the unique needs of your organization.
We help you:
• Increase Net Revenue
• Improve Revenue Cycle Management Efficiency
• Identify Cash Flow Opportunities
• Reduce Administrative Burdens
With Legacy Revenue Cycle Management, hospitals and healthcare practices can increase cash flow to help achieve sustainable financial performance.
We identify reimbursement opportunities that can deliver an immediate return.
The key is to uncover specific areas responsible for the financial under-performance. We have the teamwork expertise, depth of experience, and benchmarks needed to accurately assess your revenue cycle, address the challenges, and improve profitability. As an extension of your team, we have the resources needed to strengthen the financial health of your organization – and all without adding more time to your day or costs to your bottom line.
Consider partnering with us to manage your entire revenue cycle so you can focus on delivering quality care.
Increasingly, CFOs are partnering with experts to administer core revenue cycle management processes to become more operationally efficient and improve financial performance. Imagine if your hospital or healthcare practice had the resources it needed to devote more time and energy to patient care.
Our end-to-end revenue cycle management and medical billing services can provide as much or as little help as you need.
If your healthcare organization is struggling to improve its revenue cycle operations, our domain expertise in both physician and hospital billing and claims management, combined with end-to-end revenue cycle management services, can help your organization reduce operating costs and accelerate cash flow.
Our partnership approach allows us to address both the issues and the opportunities facing your organization.
We work with your team to analyze your operational needs, compare performance to industry-leading benchmarks and develop the go-forward plan to optimize revenue cycle operations and implement revenue cycle best practices across your health system and across multiple information systems. We understand that no single solution or one-time fix can address the challenges hospitals and physicians face in this dynamic healthcare environment.
Talk with us today!