Practice Management
Optimize Your Practice’s Financial Health with AAAMB
At AAAMB, we understand that efficient revenue cycle management (RCM) is the cornerstone of a thriving healthcare practice. Managing a clinic or practice is a complex task that involves juggling numerous administrative, regulatory, financial, and technological responsibilities, all while ensuring patients receive the highest quality care. We know that your time is precious, and that’s why we’re here to help streamline your operations.
End-to-End Practice Management Analysis
Our approach begins with a comprehensive end-to-end practice management analysis. We assess your current processes to ensure you are utilizing industry best practices, aiming to boost efficiency and eliminate redundant tasks. This analysis includes a free report that outlines key performance indicators (KPIs) critical to your practice's success and benchmarks your practice against these KPIs.
Practice Management
Practice management involves the decisions, actions, and resources that ensure the day-to-day operations of your practice. We understand that managing a clinic or practice can be time-consuming.
On any given day, physicians, office staff, and the administrative staff may deal with several administrative, regulatory, financial, and technological tasks — on top of making sure patients get the best care possible.
At AAAMB, we perform an end-to-end practice management analysis to ensure you are using the industry best practices to increase efficiency and reduce any redundant tasks. We provide a free report that entails the different key performance indicators (KPIs), and how your practice stands against these KPIs.
Key Performance Indicators (KPIs) in Revenue Cycle Management
Our comprehensive practice analysis includes the assessment of 21 critical revenue cycle management metrics. Here are some of the key KPIs we evaluate:
This metric represents the projected cash inflow by calculating the percentage of accounts receivable (A/R) in the 0-30- and 31-60-days aging buckets.
This metric represents the projected cash inflow by calculating the percentage of accounts receivable (A/R) in the 0-30- and 31-60-days aging buckets.
This metric represents the projected cash inflow by calculating the percentage of accounts receivable (A/R) in the 0-30- and 31-60-days aging buckets.
The bad debt rate is the percentage of A/R that must be written off due to uncollectibility. Keeping this rate low is vital for a profitable practice.
This metric measures the efficiency of collecting payments for services provided, expressed as a percentage of net patient service revenue.
Charge lag refers to delays between the provision of services and the entry of charges. Minimizing charge lag helps improve cash flow.
CCR indicates the proportion of claims submitted without the need for manual intervention. A higher CCR means fewer delays and reduced costs.
This metric assesses the cost efficiency of your practice by measuring the expenses incurred to collect payments for services provided.
This is the average number of days it takes to receive payment for a claim. Lower days in A/R improve cash flow.
DNFB measures instances where a patient has been discharged but the final bill has not been submitted.
DNSP refers to cases where claims have not been submitted for treated and discharged patients.
This rate shows the percentage of claims denied by payers and highlights areas for improvement in your RCM process.
This metric represents the projected cash inflow by calculating the percentage of accounts receivable (A/R) in the 0-30- and 31-60-days aging buckets.
First pass yield measures the percentage of claims paid correctly on the first submission, reducing denial rates.
This rate is the total payment received compared to total charges.
NCR is the percentage of payments received out of what is contractually owed by insurance companies.
These metric measures if payments received match the expected amount, considering both underpayments and overpayments.
This rate measures the percentage of patient out-of-pocket charges collected.
This KPI assesses how much of a provider’s appointment schedule is filled.
This rate measures the percentage of payments collected at the time of service.
The resolve rate evaluates the overall effectiveness of your RCM process, including eligibility, coding, and billing.
This measures the average revenue generated per patient visit, helping estimate future revenue.
RRR indicates the percentage of charges collected or adjusted.
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Tailored RCM Solutions
To support your financial health, AAAMB offers tailored RCM solutions designed to optimize payment collection processes, enhance billing transparency, and ensure compliance with the latest regulations. Our services include:
Practice Analysis
We perform a detailed examination of your current RCM practices to identify areas of improvement.
Product and Service Recommendations
Based on our analysis, we recommend a suite of products and services that align with your practice’s goals.
Consultation Services
Whether you need a one-time consultation or ongoing monthly support, AAAMB offers flexible options to meet your needs.
Ongoing Management
We manage your practice's revenue cycle continuously, providing monthly reports and dashboards that give you the insights needed to make informed decisions.
Empower Your Practice with Data-Driven Insights
At AAAMB, we believe that data-driven insights are key to making informed decisions. Our monthly reports and dashboards provide you with clear, actionable data, enabling you to monitor your practice’s performance and make adjustments as needed to ensure continued success.
Why Choose AAAMB?
By partnering with AAAMB, you gain access to a team of experts dedicated to improving your practice’s financial health. We focus on optimizing efficiency, reducing redundancies, and ensuring that your practice remains profitable and compliant with industry standards.
Benefits of Working with AAAMB
Saves Time
Let us handle the administrative, financial, and technological tasks of your practice, allowing you and your staff to focus on providing exceptional patient care.
Increased Revenue
Our practice management analysis and contract analysis are designed to identify opportunities for revenue growth and cash flow improvement.
Efficiency Improvement
Utilizing industry best practices, we streamline processes, reduce redundancy, and optimize practice management workflows to increase overall efficiency.
Customized IT Solutions
If your practice requires IT solutions, we can develop customized web tools that are HIPAA, PCI, and FIPS compliant to meet your specific needs.
Expertise and Compliance
Stay up-to-date with the latest industry regulations and coding guidelines, ensuring compliance while maximizing reimbursements.
Transparent Reporting
Receive detailed reports and key performance indicators to track the performance of your practice and identify areas for improvement.
We also perform a detailed contract analysis using a large number of data sets to determine if any changes in the contract are needed to increase revenue and cash flow.
We are one of the few medical billing companies that have the ability to develop customized web tools that are HIPAA, PCI, and FIPS compliant. During the practice analysis, if there is a need for an IT solution, we will be able to recommend a robust solution; and design, develop, and implementation.
Are you interested in working with a professional Medical Billing Service? We supply all the equipment and skills necessary to tackle just about every type of job our clients have for us, no matter how big or small it may be. We’re committed to providing consistently reliable service in a timely and professional manner.
Comprehensive Practice Support Services
- You can add Free Practice Analysis
- Contract Negotiations
- Virtual Help-Desk
- Contract Negotiations
- End to End Practice Operations
- Help Set up Websites
- Develop Apps for Practice
- Credentialing
- Patient Collections
- Patient Bad Debt Collections
