MOUNTAIN VIEW, CA--(Marketwired - May 19, 2016) - drchrono Inc., the industry leading Electronic Health Record (EHR), practice management and medical API platform on iPad, iPhone and web, today announced new features and services to its Revenue Cycle Management (RCM) offering.
drchrono's new Revenue Cycle Management software module enables physicians and medical practices to increase their cash collection, improve payor performance, reduce days in accounts receivable, minimize denials and rejected claims. In addition, physicians get a dedicated drchrono medical billing team that will manage the billing workload, provide weekly reports, analysis, business intelligence insight and support calls. drchrono's RCM module is currently producing stellar results for medical practices and physicians with an average increase in collections in the range of 15% to 25% with over 30% in cost savings.
Physicians and practice owners can access the general medical billing features, like the Live Claims Feed, providing real time claims insights and Patient Payments to charge credit cards and track payments. Business Intelligence is available to analyze data like reimbursements, patient scheduling, payout times, code analysis and appointment analysis. With the new RCM offering, physicians get a higher level of service with dedicated billing team support, also getting modern RCM software.
"We believe in one unified platform that includes EHR, practice management, a modern restful medical API and now the cost saving functionality of RCM," said Daniel Kivatinos, co-founder and COO, drchrono. "Our RCM offering is part of drchrono's promise to continually provide our customers with industry leading technology for their practice. The goal of the dedicated RCM team and platform module enhancement is to enable physicians to do what is most important, focusing on patients and now also get paid the maximum claim amount that they're entitled to receive."
Brooke Gum a medical provider in Washington said, "I signed up for drchrono's RCM plan upon opening my private practice, which has been a great business decision. The cost of the plan is incredible, as billing services from other companies alone cost more than what I am paying monthly for drchrono's EHR, Practice Management, and RCM managed billing services. My dedicated billing team makes my life easier, and helps me to have a personal life. I can complete my notes and drchrono does the rest. The team is quick to address issues, problem solve and answer any of my questions. With the RCM plan I have a 98% clean claim submission rate and money is consistently coming in."
Modern Revenue Cycle Management
drchrono's state-of-art module for RCM allows a physician and medical practice to outsource all the medical billing, insurance processing and other activities to the RCM team.
The module includes these new features and benefits:
- Clean Claim Rate - The new RCM software module optimizes a medical practices clean claim rate with enhanced scrubbing tools. The clean claim rate allows a physician to submit an insurance claim and have the claim processed without rejection/denial on a first pass. The clean claim rate of drchrono's RCM team is on average more than 98%...
- Claim Adjustment Master Rules - This new enhancement enables doctors to create their own rules on how to automatically respond to various adjustment reasons of medical billing claims, avoiding repetitive tasks.
- Enhanced Eligibility Checking - The software platform and dedicated RCM team conducts eligibility checks to notify the physician of patient deductibles and co-pays. The team will also verify pre-authorizations of procedures letting the doctor know if a patient is eligible for a specific procedure or surgery.
- Denied Claims Processing - When claims are denied, the RCM team will review the clinical note, the medical codes and assess why it was denied/rejected, resolve the issue and resubmit the claim. Having the team and platform take care of this process allows physicians to focus on the patients and let drchrono handle this time consuming portion of the business.
- Accounts Receivable (AR) - AR streamlines collection process on claims. drchrono's RCM team is focused on the physician's payments and collections to make sure the insurance companies are paying within the allotted amount of time.
To learn more about drchrono's modern RCM offering, please visit https://www.drchrono.com/revenue-cycle-management/
About drchrono
drchrono creates the best electronic health record (EHR), practice management, revenue cycle management experience for physicians and patients; the platform was built for iPad, iPhone, Apple Watch and web. drchrono has 93,000+ physicians signed up and 6 million patients to date. Some features of drchrono include medical speech-to-text, real-time patient eligibility checks, medical billing and patient credit card processing. The platform includes apps and a medical API, which practices can leverage. The company is scheduling over 3 million appointments per quarter and processed over $1.2 billion dollars in medical billing per year. drchrono is ranked by Inc. 500 as one of the fastest growing private companies in America. Silicon Valley Business Journal designated drchrono as one of the fastest growing private companies and the platform was voted the #1 mobile EHR 4 years in a row by Black Book Rankings. For more information about drchrono, visit www.drchrono.com
