Benchmark RCM is a comprehensive revenue cycle management solution designed to streamline medical billing processes for healthcare providers. By leveraging the expertise of dedicated RCM specialists, Benchmark RCM assists medical practices in reducing accounts receivable days to under 30 and achieving a 98% clean claims rate. This leads to faster payments and improved profitability. The service encompasses account and denial management, precise data entry, thorough code reviews, and error minimization, ensuring that medical practices receive timely and accurate reimbursements. Key Features and Functionality: - Account and Denial Management: Expert handling of accounts receivable and denials, including corrections, resubmissions, and collaboration with collection agencies when necessary. - Data Entry and Code Review: Accurate demographic and insurance data entry, coupled with meticulous review of diagnosis and procedure codes to ensure proper claim submission. - Error Minimization: Implementation of processes to reduce errors, resulting in a 98% clean claims rate and faster reimbursements. - Customizable Reporting: Provision of detailed and customizable reports, offering full transparency into billing processes and financial performance. Primary Value and Solutions Provided: Benchmark RCM addresses the complexities of healthcare reimbursement by offering a streamlined approach to revenue cycle management. By reducing AR days to under 30 and achieving a high clean claims rate, medical practices can expedite collections and maximize reimbursements. The service also alleviates the administrative burden associated with billing and coding, allowing healthcare providers to focus more on patient care. Additionally, Benchmark RCM's fee structure, based on successful transactions, enables practices to better control their cash flow and reduce overhead costs related to hiring and training billing specialists.