SMBT Streamlined Medical
Revenue Cycle Management
Services
The Importance of Selecting SMBT
Revenue Cycle Management RCM for Medical Billing
Navigating the complexities of medical practice finances—evolving regulations, strict insurance policies, and high patient expectations—can lead to revenue leakage, cash flow issues, and operational chaos.
At SMBT, we specialize in restoring your practice’s financial health with our expert revenue cycle management (RCM) services. Our certified coders ensure precise billing and coding to prevent revenue loss. Our enrollment specialists secure contracts with top commercial payers, expanding your patient base. And our billing experts work tirelessly to collect every dollar your practice earns.
Don’t let financial challenges overwhelm you. SMBT RCM Services offers the solutions you need to optimize your revenue cycle, enhance collections, and improve patient satisfaction. Contact us today and discover how we can help streamline your practice’s financial operations.
Are You Earning What You Deserve?
We help practices boost revenue by up to 30%. Claim your FREE practice audit today and discover how!
Revolutionizing Revenue Cycle Management with Precision Billing
At SMBT, we offer comprehensive revenue cycle management, with billing at the heart of our services. Our unique approach leverages the SmartClaim system, developed in-house, to analyze billing codes and clinical documentation before claims are submitted. This advanced technology ensures a first-time acceptance rate of over 98%, helping providers receive payments faster and more efficiently.
Achieve Revenue Cycle Success with SMBT's Coding Excellence
SMBT enhances revenue cycle performance through expert medical coding services. Our proprietary BellCoding technology analyzes medical charts to identify high-value codes, while our certified CPC coders meticulously review each chart to uncover revenue opportunities that algorithms might miss. This powerful combination of technology and expertise ensures that SMBT delivers an RCM solution that maximizes revenue for your healthcare facility.
Optimize Your Revenue with SMBT's Audit and Insights
Our audit specialists use the SMBT Revenue Integrity process to thoroughly analyze your current revenue cycle, identifying key areas where coding and billing improvements can drive the greatest impact. Our billing consultants then develop targeted solutions to address these gaps. We take a holistic approach to your revenue cycle, providing tailored healthcare revenue cycle management strategies to strengthen and optimize your practice’s financial health.
RCM ROI Success Story
Achieve Up to 30% Revenue Growth
in 12 Months with SMBT's Expert
Revenue Services (Case Study)
Internal Billing
SMBT’s RCM
Results
Cost ( On Average )
$140,000.00
$140,000.00
Total Collection Ratio (TCR)
Billing Expenses
$60,000 (42%)
$6,000
$77,000 (54%)
$4,000
12%
Increase in Total Collection Rate
$2,000 Decrease in monthly cost of RCM service
$197,000 Yearly Net Benefit (monthly gross collection * 12 months)
≈ 30%
Overall collection increase
Comprehensive RCM Solutions by SMBT
Experience seamless revenue cycle management with SMBT’s trusted services. With our end-to-end features, you gain a reliable partner dedicated to maximizing your practice’s financial success.
Charge Entry & Claim Management
- Claim creation, validation, and submission
- Accurate entry of super-bill details
- Confirmation of claim approval
- Ongoing tracking of claim status
Remittance Processing & Payment Reconciliation
- Efficient processing of payer payments
- Handling adjustments and claim denials
- Reconciling payments with provider claims
Claims Follow-Up & Resolution
- Proactively follow up with payers on unpaid claims
- Address underpaid claims and ensure accurate reimbursement
- Represent providers in payer communications
- Negotiate and resolve claim disputes effectively
KPI Reporting & Analytics
- Track and monitor key performance indicators (KPIs)
- Analyze days in accounts receivable for optimized cash flow
- Assess claim denial and collection rates for efficiency
- Provide comprehensive, customizable reports
- Utilize advanced data visualization for clear insights
Patient Collections Feature
- Efficiently collect patient payments
- Manage initial statements and final notices
- Send clear bills and reminders to patients
- Offer convenient payment options for easy transactions
A/R Management Feature
- Reduces aging of outstanding accounts receivable
- Optimizes A/R workflow for efficiency
- Confirms claim approvals promptly
- Collects outstanding A/R from both payers and patient
Coding and Documentation Services
- Ensure compliant coding for healthcare providers
- Apply the latest coding standards and guidelines
- Capture essential details to support providers’ claims
- Justify reimbursement for services rendered
- Conduct thorough medical billing audits
Charge Capture and Reconciliation
- Accurately capture and validate service charges
- Utilize charge sheets and EHRs for efficient tracking
- Ensure charges align with coding and documentation standards
- Reconcile charges with submitted claims
- Verify charge consistency with contractual payer agreements
Contract Management and Optimization
- Manage and maintain payer contractual agreements
- Understand payment structures for services rendered
- Review and negotiate contract terms for better outcomes
- Monitor compliance with contract provisions
- Analyze contract performance for strategic insights
- Use metrics like contract yield and CMI to assess performance
Let SMBT RCM Services Strengthen Your Revenue Cycle
We uncover opportunities to optimize revenue with improved billing, coding, denial management, and more.
- Claims Handling
- Denial Reduction
- AR Efficiency
- Boosted Collections
SMBT RCM Medical Billing Delivers
Solutions for Providers' Revenue Growth
Inconsistent Cash Flow
Providers often face challenges in maintaining a stable cash flow due to issues like bad debt and underpayments.
Improved Cash Flow
Our medical RCM services minimize bad debt and underpayments by ensuring accurate, timely claim submissions and follow-ups.
Mismanaged A/R
Providers often struggle with accounts receivable (A/R) due to the complexities and inconsistencies in the process.
Optimized A/R
Our healthcare RCM solution offers insights into A/R performance, including days in A/R, aging, and turnover rates.
Payer Compatibility Challenges
Providers often face difficulties in complying with multiple payers and various claim types, including fee-for-service, value-based, and capitated models.
Seamless Payer Compatibility
Our adaptable RCM platform adjusts to evolving payer requirements, ensuring maximum reimbursements for providers.
High Denial Rates
Providers often face high denial rates from payers, which negatively impact both revenue and cash flow.
High Recovery Rates
Our proactive approach addresses the root causes of denials, improving recovery rates and ensuring revenue integrity.
Admin Workload
Denials not only reduce revenue collection but also increase administrative workload as providers must appeal and resubmit claims.
Automated Process
Our RCM experts and EHR platform streamline manual tasks, ensuring accurate and efficient claim submissions.
Unsatisfied Patients
With patients becoming more informed healthcare consumers, providers face challenges in maintaining high levels of patient satisfaction.
Satisfied Patients
Our RCM service provides a patient-focused platform that enhances the patient-payer relationship through telehealth features.
Complex Patient Management
Providers face challenges with growing patient financial responsibility, driven by high-deductible health plans (HDHPs) and self-pay patients.
Automated Patient Management
Our medical billing platform automatically calculates and communicates patients' out-of-pocket costs prior to service.
Reporting and Analytics Capabilities
Why Choose SMBT RCM Billing for Complete Reporting?
Actionable Data Insights
Gain clarity on key metrics and trends in your revenue cycle with an interactive analytics dashboard. Compare performance against industry benchmarks and uncover opportunities for growth.
Quick Feedback and Communication
Easily connect with our RCM experts, patients, and insurance payers via an integrated chat system. Resolve issues, share feedback, and get answers in real time.
Detailed Reporting
Dive deep into your revenue cycle with customizable, granular reports. Filter, sort, and export billing data tailored to your specific needs.
Multi-Specialty Support
Effortlessly manage multiple facilities and locations with our RCM reporting dashboard. Compare data across sites and groups, with dedicated dashboards for each specialty.
Data Security
Keep your information safe with advanced encryption and authentication technologies, ensuring protection from unauthorized access and breaches.
Data Integration
Easily integrate your data with other systems using our RCM reporting dashboard, supporting diverse formats and standards for seamless interoperability.
Trusted by Verified Practices on Trusted Pilot
Frequently Asked Questions
Revenue cycle management (RCM) is the process of overseeing and optimizing the financial operations of a healthcare provider or facility. It encompasses billing, coding, payment collection, and reconciling reimbursements from both patients and insurance companies to ensure seamless revenue flow.
Revenue cycle management (RCM) is the process of overseeing and optimizing the financial operations of a healthcare provider or facility. It encompasses billing, coding, payment collection, and reconciling reimbursements from both patients and insurance companies to ensure seamless revenue flow.
We employ a proactive approach to manage claim denials and appeals efficiently. Our process begins with a detailed analysis to identify the root causes of rejections. Next, we promptly correct and resubmit claims while maintaining open communication with payers to negotiate the best possible reimbursement. Throughout the process, we keep you updated on claim statuses and outcomes, ensuring transparency and maximum recovery for your practice.
Our RCM services are billed as a percentage of your collections, ensuring you only pay when you receive payments from patients or insurance providers. This model eliminates upfront costs, hidden fees, or binding long-term contracts. We prioritize fairness and transparency, aligning our success directly with your revenue growth.
We prioritize the security and privacy of your data through strict compliance with regulations like HIPAA and GDPR. To safeguard your information, we implement advanced measures such as encryption, firewalls, regular backups, and access controls. These efforts ensure your data is protected against unauthorized access, loss, or damage.
We track and enhance our RCM performance using key metrics such as:
- Days in Accounts Receivable (DAR): Average time taken to collect payments from payers and patients.
- Claim Acceptance Rate: Percentage of error-free claims accepted by payers on the first submission.
- Denial Rate: Percentage of claims rejected by payers and the reasons for those denials.
- Collection Rate: Percentage of the billed amount successfully recovered from payers and patients.
- Net Collection Ratio (NCR): Proportion of the allowed amount collected from payers and patients, reflecting overall efficiency.
Our medical billing company specializes in managing every step of your revenue cycle process with precision and efficiency. Here’s how we assist:
- Accurate Claim Submission: Ensuring precise coding and timely claim submissions to payers.
- Claims Management: Monitoring claim status, addressing denials, and ensuring prompt resolution.
- Payment Reconciliation: Recording and balancing payments received from payers and patients.
- Patient Account Management: Handling statements, billing inquiries, and account updates for patients.
- Detailed Analytics: Delivering insightful reports on your financial performance to guide decision-making.