MedicsRCM is a cloud-based revenue cycle management service that claims to have an amazing 99% first attempt success rate on claim processing. The solution has evolved over the years and is now used to handle millions of claims annually. Unlike many other companies that handle RCM for their clients, MedicsRCM does not use any third-party software. Clients can access their data 24x7 from any location and be confident that their bills are being handled in the most efficient way possible.
MedicsRCM is an end-to-end revenue cycle management solution. The entire billing solution is produced by the company’s own software architects and as a result, runs brilliantly allowing MedicsRCM to reach a 99% first claim success rate.
All claims are processed and submitted the day they are incurred. If the claim is raised after normal business hours, it will be submitted the next day. This ensures no time is lost in getting the money back to the practice. While MedicsRCM tracks the progress of the claims it has submitted, clients can track them too and see what is happening.
MedicsRCM computes an average pay time for each payer based on their past performance. As soon as this period is exceeded, the claim is resubmitted automatically. The team at MedicsRCM follows up with payers to track all overdue claims to check and resolve any holdups.
In case a claim is denied, automatic alerts are generated and the team takes charge of the claim to edit it and resubmit it on priority. Claim tracking follows up each resubmitted claim closely to ensure it is cleared quickly.
MedicsRCM also has detailed analytics to help practices analyze their performance. Medical practices will get to know the exact trend of their payment cycles and how their revenue shapes up. The solution also has an inbuilt payment gateway to ensure that patients can pay online via secure and proven methods. Business Intelligence modules are built in to give practice administrators great insights into the progress of their businesses.