TMS tech Med Solutions Hospital Medical Billing Services specializes in addressing the billing and Revenue Cycle Management (RCM) challenges that hospitals face, ensuring their financial stability. With our expertise and advanced EHR system, we deliver effective solutions to overcome these obstacles.
We understand that maintaining HIPAA compliance demands in-depth knowledge of regulations, including those related to Medicare, Medicaid, and private insurers. Our expertise ensures hospitals adhere to the necessary protocols seamlessly.
Managing the full lifecycle of patient accounts—from registration and appointment scheduling to final balance payment—can be overwhelming for hospitals due to administrative challenges. Our Hospital Billing Services streamline this process, ensuring efficiency from start to finish.
Accurate coding with systems like ICD-10, CPT, and HCPCS demands specialized expertise. Many hospitals lack certified coders skilled in translating medical records into these standardized codes. Our team consists of highly trained professionals proficient in these coding methods.
Hospitals require in-depth analytics and reporting to gain insights into financial performance, payer mix, and reimbursement trends. TMS Tech Med Solutions Hospital Billing Services provide clear, actionable analytics and reports to support informed decision-making.
Outsourcing TMS Tech Med Solutions services helps hospitals streamline complex billing operations, save time, and boost efficiency and cash flow.
Here’s how TMS Tech Med Solutions can assist
AR days represent the time it takes to receive payment for a claim. Typically, AR days range from 30 to 70 days according to hospital benchmarks. To calculate, total credit sales are multiplied by the desired time frame, often a year
Net collection refers to the actual reimbursement for services rendered, typically the amount owed after all payer contract adjustments. It is calculated by dividing total payments by charges after approved write-offs, then multiplying by 100
The denial rate represents the percentage of claims denied by insurance payers. It is calculated by dividing the total number of denied claims by the total number of claims submitted within a specific period, typically a month or a quarter.
A clean claim is submitted accurately the first time, with no missing or incorrect information. It is calculated by dividing the number of clean claims by the total number of claims submitted during a specific period, typically a month or a quarter.
Outsourcing medical billing can be a stressful decision, considering who will be the best fit for the job. After all, this is your revenue and you want to make sure you’re working with someone who is efficient and has the potential to not only streamline your RCM but also increase cash flow.