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Top 10 Revenue Cycle Management Services Companies - 2022
Effective revenue cycle management is at the heart of every healthcare organization’s continuing success. Healthcare providers looking to speed up patient payments and stay ahead of competitors are taking heed of modern revenue cycle management solutions.
With a patient-first attitude, healthcare organizations are using automation to focus more on each patient, both in the examination room as well as online. They are digitizing workflow processes such as booking appointments, processing payments, and handling billing to increase revenue opportunities.
Healthcare organizations are embracing telehealth solutions with full gusto to provide an easier way for patients to schedule appointments, which significantly improves the revenue cycle in the long run. Data analytics is also gaining prominence in the revenue management space. Healthcare staff can predict patient behavior and leverage tracking patterns to identify patients taking a long time to pay their bills.
Machine learning, in concert with payer portals, helps healthcare organizations automates payment posting and improves the process of managing denials. Cloud computing systems make way for storing, analyzing, and accessing fast-moving payment data from any location using a tablet, smartphone, or laptop.
A myriad of revenue cycle management solutions and service providers in the market offers the newest, innovative, and state-of-the-art solutions and services for healthcare organizations across the world. To help leaders navigate through the list of top revenue cycle management solutions and service providers, our panel consisting of CEOs, CIOs, VCs, industry analysts, and the editorial board of Healthcare Business Review presents to you the top companies in this landscape. We took a deep dive into the market trends to narrow down the list of companies that exhibit competence in delivering robust solutions and services. Equipped with innovative technological capabilities, these enlisted solution and service providers transform healthcare at the cloverleaf of various disruptive technologies. We hope this issue of Healthcare Business Review helps you build the partnership you and your organization need to foster an environment driven by efficient technology.
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Usually, the qualified subscribers of our magazine nominate companies with whom they have collaborated and experienced exceptional results to be in this list. Did a company you recently worked with give you stellar results and ROI? Did it turn out to be one you would wholeheartedly recommend to peers? Or do you know of such an outstanding company through your network? Please fill in the details below and nominate them to be featured here.
Top Revenue Cycle Management Services Companies
Alta RCM Solutions operates on the premise of improving the revenue cycle management of its client partners through a complete RCM evaluation. They use that information to determine the complete customized RCM solutions to help a practice reach their optimum revenue cycle management operations.
Jacqueline R. Todd-Washington, the Vice President, Revenue Cycle ManagementAt Alta we say, “We do it YOUR way!” For us, it’s not just a slogan. It’s a business practice
Alta RCM Solutions
Management
Jacqueline R. Todd-Washington, the Vice President, Revenue Cycle Management
Collect Rx is an RCM company that, with the help of its proprietary business tool CRXIS, manages default accounts to ensure that the healthcare provider is paid its claim by the insurance company after a patient’s treatment in due time
What we have created here is a game-changing solution in the claims space. Being able to quickly identify the accounts that require attention, our solution eliminates the need for sifting through every single account, and improves revenue cycle performance
—Kristina Donahue, VP
Founded in 2010, Medical Billing Wholesalers (MBW) is a leading revenue cycle management (RCM) company offering medical billing, medical coding, and business analytics services to more than 60 revenue cycle clients, including aggregators, hospitals, physician practices, and SaaS-based RCM Software vendors.
We help our clients achieve the clinical, financial, and care outcomes they seek
—Vinod Sankaran, Chief Executive Officer & Melvin Miller, Chief Operating Officer
Medical Billing Wholesalers
Management
Vinod Sankaran, Chief Executive Officer & Melvin Miller, Chief Operating Officer
Nephrology Practice Solutions offers an extensive portfolio of nephrology specific business solutions to reduce the administrative burden on the physician. The company manages nephrology practices across the U.S. and handles all aspects of practice administration, including billing and collections, coding review, contracting, credentialing and licensing, and finance.
Lia Pennington, Head of MSO OperationsOur RCM services include monthly reporting packages that benchmark client results against their internal goals as well as national ‘MGMA best performing practices’. Everything from cost-to-collect, net collection rate, and A/R performance are measured and reported with the expectation of driving on-going improvement
Nephrology Practice Solutions
Management
Lia Pennington, Head of MSO Operations
Elite Coding & Billing
Elite Coding and Billing can provide tailored services to meet the business’s overall revenue cycle management requirements. It can do everything, big or small, with quality, precision, and dependability. Elite takes pride in its friendly yet strong approach to patient collecting
Falckon Health
Falckon Health’s end-to-end integrated solution combines strong data, efficient claim management, and performance consulting to ensure a 15 percent improvement in the practice’s cash flow. Its involvement would provide users the freedom to make decisions and the assurance that no monies would go uncollected
Innovative Healthcare Business Solutions
Clients of Innovative Healthcare Business Solutions value the breadth of professional expertise we provide in addressing their healthcare business demands. Its staff is committed to meeting the healthcare and medical practice industry’s business management and growth demands. They concentrate on medicine, while IHBS focuses on everything else
Parallon
To manage the most complex revenue cycle difficulties, Parallon delivers decades of expertise, utilizing its scale, technology, and proven processes, so businesses can focus on what matters most - accomplishing their purpose and improving the health of the community
Strategic Revenue Solutions
Strategic Revenue Solutions (SRS), a practice management organization, uses its unparalleled knowledge to manage reimbursement properly. For each RCM procedure, the organization focuses on the appropriate KPIs, laws, peculiarities, and possibilities. SRS goes above and above to assist clients in receiving payments by minimizing RCM bottlenecks
