RCM solutions relates to all of the processes, sub-processes and enabling technologies associated with the initial contact through the collection of inbound revenue. Solutions may include new practice protocols, contract negotiations, net collections improvements and new revenue opportunities.

• Coding and Billing

In today’s economy there is an increased urgency to accelerate collections. The average practice lacks the processes, technology, and expertise to match the power, efficiency, and scale of payers’ (Medicare, Medicaid and Insurance companies) systems and practice revenue suffers because of shrinking allowed amounts, increased coding complexity, higher volume of denied, underpaid, or delayed claims, and increased audit frequency. The average medical provider has between 60-120 days of outstanding claims on their books. ProMeds’ innovation and technology solutions brings much-needed improvement to this process.

Physicians have historically controlled their billing in-house. The coding, billing and account receivable departments typically require 1 to 3 employees per physician, adding operating costs as coding and billing requirements increase. Most physicians have come to the realization that in order to process claims efficiently and effectively they must not only code correctly but must document correctly in order to substantiate the billed procedures for fear of an audit from Medicare, Medicaid, Private Insurance or any of the contracted Health Maintenance Organizations.

ProMed Alliance will provide customized solutions to the physician’s practice after extensive evaluation of all existing procedures via personnel interview and appropriate review of all collection, billing and coding records including but not limited to the percentage of billings collected.

• Transcription

Along with coding and billing one of the most important components of electronic medical records is transcription. Transcription is the basis of the billing and coding and the plan of treatment for the patient. ProMed Alliance intends to incorporate these components as part of the overall work flow for the practice in order to create greater work efficiencies and therefore expense savings.

ProMed Alliance will meet the necessary “Meaningful Use” criteria and have a CCHIT ( Certified Comission for Healthcare Information Technology) Certified Transcription based Unified Electronic Medical Record for use in the partnership practices.

ProMed Transcription Division takes responsibility for the accurate completion of transcription work on a guaranteed basis with a fixed per line cost.