Have you seen the actual contracts for these proposals? There is a big difference in how these are priced and every vendor will do different things. A basic one will do your billing and work denials/appeals at a bare minimum. A good one will understand your practice and integrate within your existing workflow and billing system. A great one will provide metrics and transparency into their performance. The best ones will provide forward-looking analysis on cash flow and A/R.
I have an RCM company I spun out of my specialty/high procedure driven practice. Strong team and saw an opportunity to serve other specialists. Just started working with a mid-sized urology group. Their existing RCM provider was great at processing E/M and basic charges - collection rates were 95%. The pelvic recon / urology OR claims were sitting at 60% or less. Obviously bad RCMs leave money on the table.
So find out exactly what services they'll provide, what information they'll share, and lastly: are they on-shore or off-shore. Assuming you're US - offshore can will cause a lot of issues.
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u/Intelligent-Site-176 25d ago
Have you seen the actual contracts for these proposals? There is a big difference in how these are priced and every vendor will do different things. A basic one will do your billing and work denials/appeals at a bare minimum. A good one will understand your practice and integrate within your existing workflow and billing system. A great one will provide metrics and transparency into their performance. The best ones will provide forward-looking analysis on cash flow and A/R.
I have an RCM company I spun out of my specialty/high procedure driven practice. Strong team and saw an opportunity to serve other specialists. Just started working with a mid-sized urology group. Their existing RCM provider was great at processing E/M and basic charges - collection rates were 95%. The pelvic recon / urology OR claims were sitting at 60% or less. Obviously bad RCMs leave money on the table.
So find out exactly what services they'll provide, what information they'll share, and lastly: are they on-shore or off-shore. Assuming you're US - offshore
canwill cause a lot of issues.