CMPM is the leader in maximizing physician revenue through its experience and expertise. One area of significant importance that CMPM provides to its clients is a very active management oversight of the billing process. As billing companies continue to migrate toward being only processing companies, we have found that revenue performance has eroded. This is due to these companies continuously modifying their systems to enhance their own bottom lines, not necessarily that of their clients. A billing company will pursue revenue for their client only until the point in which it impacts their own revenue.
Due to this fundamental truth, it is not sufficient to ask the billing company if things are going well, they will always answer in the affirmative. To ensure revenue maximization, a practice must closely monitor the billing company’s performance. To that end, we have developed management tools and processes to ensure that revenue is maximized.
The first step in any evaluation is to determine the revenue goal. Using our Revenue Management System we can mathematically determine what the expected revenue is for any practice. We then compare the actual collections to this expected amount. If the actual revenue falls short, we have other tools that we utilize to identify and remedy the problem. These additional tools include our Contract Realization with its sub-components of Payor Denial Matrix and Payor Contract Compliance. Be aware, there are billing companies that state they provide these types of functions in some abbreviated manner but with our procedures and tools, we can assure that it is being done and being done effectively.
In addition, we provide other essential management tools to ensure that all possible revenue is being collected using statistical models and with our CCV (Charge Count Verification) we ensure that all procedures performed are being billed. A practice we rarely see being performed.
We can confidently state that without proper management oversight, your practice revenue is not being maximized. CMPM, with usually routine billing reports and other minimal data, can provide an evaluation of your billing company’s performance. Contact us to explore this option for the group.
