Our Revenue Cycle Management Process

Name: Invensis Inc
Address: 1000 N West St #1200, Wilmington, DE, 19801, US
Telephone: +1 (302)-261-9036
Price range: Contact for customized offers

We offer structured RCM services for healthcare providers, ensuring streamlined financial operations. Our team manages all aspects, from patient registration to payment collection; we optimize revenue generation, enhancing cash flow and reducing errors. In the process, we minimize revenue leakage and claim denials and improve reimbursement accuracy.

Trusted by 1000+ Companies

Our Revenue Cycle Management Process Steps

Our end-to-end RCM management is designed to take care of the financial wellness of healthcare providers while they focus on quality care. We rely on the below steps to deliver our revenue cycle management solutions for you:

Appointment Scheduling and Registration
- Initially, we schedule patient appointments and register them into the system.
- Collect accurate patient demographic information during registration.
- Ensure HIPAA compliance and patient confidentiality throughout the registration process.
Insurance Verification and Eligibility
- Verify patient insurance coverage and eligibility prior to appointments.
- Confirm insurance plan details, including co-pays, deductibles, and coverage limitations.
- Communicate effectively with patients regarding their financial responsibility and insurance coverage.
Charge Capture
- Capture all billable services provided during patient visits.
- Utilize electronic health records (EHR) or other systems to record charges accurately.
- Implement protocols to capture ancillary charges and services to maximize revenue.
Medical Coding
- Assign appropriate medical codes (ICD-10, CPT, HCPCS) to diagnoses and procedures based on documentation.
- Ensure coding compliance with payer guidelines and regulations.
- Conduct regular coding audits to identify and address coding errors or discrepancies.
Claims Submission
- Prepare and submit claims to insurance companies electronically.
- Ensure claims are completely accurate and include all necessary supporting documentation.
Payment Posting
- Post payments received from insurance companies, patients, or other payers accurately and promptly
- Reconcile payments with corresponding claims to ensure proper accounting.
Accounts Receivable Management
- Monitor accounts receivable aging and follow up on outstanding balances.
- Identify and resolve discrepancies in payments received versus expected reimbursements.
- Implement strategies to reduce outstanding accounts receivable and improve cash flow.
Denial Management and Appeals
- Identify and investigate claim denials or rejections.
- Develop strategies to reduce denials and improve reimbursement rates.
- File timely appeals for denied claims with supporting documentation and justification.
Patient Billing and Collections
- Generate patient statements for any outstanding balances after insurance processing.
- Implement collection strategies to recover unpaid balances, such as payment plans or debt recovery procedures.
Reporting and Analysis
- Generate reports on key metrics such as claim submission rates, denial rates, and collections.
- Analyze trends and performance data to identify areas for improvement and optimize revenue cycle processes.

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Invensis - The Most Trusted Revenue Cycle Management Outsourcing Company

As an outsourced revenue cycle management company, we have over 24 years of experience delivering healthcare revenue cycle management services to US-based practices. We have assisted our clients with best practices, such as focusing on patients, investing in technology, collecting patients' financial responsibility upfront, implementing charge capture accurately, and filing claims on time. Over the years, we have seamlessly integrated people, processes, and technology to deal with changing legislation and industry needs. As a result, our clients have banked on our services to eliminate waste, promote efficiency and get end-to-end value-based support.

35-40

Days in
AR

98%

Clean Claim Rate
(CCR)

<8%

Denial
Benchmark

95%

Net Collection
Rate (NCR)

We Provide
Services

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What Our Customers Say

We have been working with Invensis for the past two years, and they have helped us overcome many revenue cycle management challenges. The team often walks the extra mile to ensure that our needs are met.

Christina Sussex

Leading Healthcare Provider in France

Invensis has been our revenue cycle management healthcare outsourcing partner for the past 5 years. They have always delivered on their commitments, whether it is meeting our Service Level Agreement (SLA) or improving our billing process.

Christopher Middleton

Leading Healthcare Company in US

Invensis has been a great partner providing quality medical coding and billing services. The team is extremely responsive to every query we pose, and the turn-around time for deliverables is always as committed.

Chris Lauren

Leading Healthcare Company in US