Expedite collections and maximize reimbursements with Benchmark RCM.
Frustrated with billing lags? Take control of your cash flow, and let our highly specialized and experienced team of revenue cycle management experts manage your practice’s medical billing.
Navigating the healthcare system’s complex reimbursement processes is challenging, but necessary to ensure the financial health of medical practices. With Benchmark RCM, clients reduce their AR to an average of under 30 days, and minimize error rates, resulting in a 98% Clean Claims Rate. Benchmark RCM specialists are experienced and dedicated revenue cycle management experts who handle account and denial management, data entry, reviewing codes, and minimizing errors so medical practices get paid faster and improve overall profitability.
Why clients recommend Benchmark RCM:
- Increased collections by an average of 10 – 15% within the first year.
- Reduce AR from a national average of 56 days to under 30 days.
- Five-star rated RCM support team, reducing overhead costs for hiring and training billing specialists.
- Maximized reimbursements, with a 98% first pass claims submission payment.
- Benchmark RCM fees are based on successful transactions, which lets practices control their cash flow.
Benchmark RCM Service Offerings
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1. Patient Registration and Eligibility
Benchmark RCM works to accurately place all demographic and insurance entries into the billing platform.
2. Charge Entry
Entry of all charges are then billed to insurance and/or patient.
3. ICD/CPT Coding
Benchmark RCM works to ensure proper diagnosis and procedure code are on claim for payment. Benchmark RCM offers everything from code review up to direct coding from notes.
4. Claim Submission
Our integrated clearinghouse allows for quick and accurate claims submission and filing. Benchmark RCM has a 98% first pass submission rate on claims for payment. Benchmark RCM offers everything from code review up to direct coding from notes.
5. Payment Posting
After claims are created and sent to insurances, the practice will receive a Remittance Advice or Explanation of Payment from the insurance carrier in the mail. Practice will then fax or scan to our RCM team for payments to be posted.
6. Denial Management / Collections Process
If there are any denials, Benchmark RCM works to correct any discrepancies and re-submit to insurance or have an insurance representative reprocess claim. Denials are worked until there is no additional recourse. Our team will work with a collection agency of the practices’ choice and whether to send delinquent accounts to collections.
7. Patient Billing
Benchmark RCM works to generate patient statements and determine an efficient process for sending patient statements. Benchmark RCM offers Benchmark Pay, an online payment portal that works to receive electronic payments directly from the patient. If the practice decides to send patients to collections, our RCM team works directly with several collection agencies to make information submission seamless.
8. Reporting
Benchmark RCM works with practices to determine specific reporting requirements and desired reporting schedules. In addition, practices are given full access to the Benchmark Solutions platform to access any reports, any time - all billing methods are 100% transparent.
Benchmark RCM Features
Reliable, Experienced Staff
Benchmark RCM’s certified coding professionals have an average of 12 – 15 years of experience in medical practice billing who are ultimately there to improve your bottom line.
Software Programs with a Human Touch
Our responsive staff are an extension of your practice’s team, and are on-hand whenever you need them.
Customizable, Full Service RCM
Benchmark RCM services are scalable and tailored to your healthcare organization’s needs.
Proprietary Billing Platform
Benchmark RCM clients will have access to our proprietary billing platform, with Clearinghouse integration, so you can easily assess the financial health of your practice, anytime.
Seamless Integrations
Clients who do not use Benchmark PM and Benchmark EHR can still use Benchmark RCM services. Our staff will adapt to your workflows and integrate with your systems at no additional cost.
Medical Coding Review
Benchmark EMR clients benefit from automated coding recommendations based on each encounter.
Data Entry and Account Management
Benchmark RCM experts enter in demographic, charge, and payment data—saving your team time, and reducing your practice’s administrative overhead.
Billing and Follow-Up
Benchmark RCM experts will file claims, make corrections, take patient inquiries and talk with insurance providers and other payers.
Denial Management
Benchmark RCM handles claim revisions and resubmissions to promptly address denials and maximize reimbursement.
Benchmark Pay
Benchmark RCM clients can use Benchmark Pay for free*–allowing patients to pay bills online for quick, secure, and easy transactions.
*Credit card processing fees apply
Are you ready to control your cash flow, maximize reimbursements, and reduce your AR to less than a month?
Outsourcing your medical billing to the right RCM team can improve the overall health of your practice and cut down on time-consuming tasks.
