PMC, through numerous site visits to clinics and surgical facilities, has determined that there are typically three major stumbling blocks to financial success. In order of importance, the stumbling blocks are:
- Accounts Receivable (Revenue Cycle) Management
- Expense Management
- Organizational and Governance Structure
Healthcare coding and billing is becoming increasingly complex. Not only is the regulatory and compliance landscape changing on a weekly basis, but the tools necessary to provide for a streamlined revenue recovery process are also changing on a regular basis. The PMC revenue cycle management department is a team of dedicated experts who can advise you on all aspects of the revenue cycle management process. This includes consulting to improve coding, advise on the appropriateness of your charge master, perform a managed care contract review, improve policies and procedures, and advise on the structure and optimize operational efficiencies of your Accounts Receivable staff.
When it comes to expense management, PMC will provide you with a benchmarking report to determine if your staffing model is correct, compensation formulas are appropriate, and if supply chain management process is appropriate.