The Nextech Revenue Cycle Management (RCM) solution is built to cater to just three kinds of practices: dermatology, ophthalmology and plastic surgery. With this close focus on just three specialties, one expects all nuances of the specialties are well understood, and the software reflects that. The RCM solution is compliant with ICD-10, meaningful use and HIPAA. However, this is only to be expected in a present-day solution. Nextech RCM gives a number of personalized tools that help practices improve revenues and reduce denials. Comprehensive reporting features are built into the solution and help practitioners make sound decisions about their practice.
Nextech RCM focuses on just three medical specialties, enabling a revenue cycle management solution that is tailored closely to the working of these specialties. Revenues increase with the use of the solution due to integrated eligibility checking and claim management features. The solution ensures that all claims are rigorously vetted and scrubbed before they are presented to payers. Close follow up is maintained and in case of overdue claims, prompt action is taken automatically. Advanced reimbursement management features ensure quick payments and in case of denials, prompt correction and resubmission.
The solution is integrated with a third-party gateway for credit card processing. This needs to be examined carefully to ascertain if additional processing costs are to be paid. The system also allows for integration of marketing activities. Clinics can therefore open another line of revenue by selling consumables and offering other services.
Electronic billing features allow bills to be generated directly from the EMR, and the system can also handle batch payments made by insurance companies. The system is able to separate individual payments and apply them to the correct patient account. There is even a drag-and-drop method to apply payments to individual accounts manually.
With Nextech RCM, most manual actions related to claim management are eliminated and users get access to a smooth and powerful means of managing their revenue cycles.