4 time-saving features of an integrated RCM solution

Many RCM solutions are marketed as “integrated,” but what does that actually mean? When you take a closer look, you’ll often find those so-called integrated systems still require logging into multiple applications and switching back and forth between screens – steps that cause frustration for staff and slow down claims management for your independent practice.

True integration, on the other hand, means all of the steps necessary to create, process, and analyze all of your claims can be completed with a single tool. We’ll take a closer look at the features of an integrated RCM solution and how they can help you increase your practice’s efficiency while improving your financial performance.

The importance of integration

Before we dive into the technical details, it’s important to understand the implications behind the technology. You probably already know it’s a challenging climate for independent practices, and the bulk of the pressure falls on physicians.

In a Medical Economics survey, physicians cited burnout and a heavy paperwork burden as the top two issues they were dealing with. Inadequate reimbursements and challenging electronic health record systems were also among the top stressors.

RCM integration contributes to solving all of these challenges. It eliminates steps in the claims management process, freeing up time and attention to devote to caring for patients. It simplifies administrative tasks while reducing errors, which aids in maximizing reimbursements and making life easier for all involved in RCM processes.

4 time-saving features of an integrated RCM solution

1. Integration of commercial and government claims

Traditional claims management means Medicare claims live in one place and commercial claims live in another. To work through a stack of claims, which could include dozens of different payers, staff have to stop what they’re doing, make sure they’re using the appropriate platform, and mentally switch gears to perform the correct tasks. It eats up precious minutes that can translate to hours of lost productivity each month.

With an RCM solution that integrates commercial and government claims, staff can work within the same interface regardless of the payer. Not only does this reduce the number of applications your team needs to learn, it allows staff to become highly proficient in a single tool, which increases accuracy.

2. Seamless, single-sign-on interface

Logging in and out of different tools is another big time waster. On average, employees spend more than half an hour each day switching between applications, and it takes about 10 minutes to get back into a productive workflow once they’ve entered a new program.

An integrated RCM solution eliminates this issue by bringing claims creation, submission, corrections, and analytics together in a single portal with one login. With all the necessary data and time-saving shortcuts located conveniently in one place, staff can maintain a higher level of focus and get more done in a single sitting than if they were constantly toggling back and forth between different interfaces.

3. Direct connection to payers

When your clearinghouse experiences a service interruption, claims workflows grind to a halt (and so do the corresponding reimbursements). Just a small window of downtime can have a significant impact on your claims activity and as a result, your revenue.

An integrated RCM solution, on the other hand, offers a direct connection to Medicare, Medicaid, and all commercial payers. With complete integration, you gain 24/7 visibility into claims, remit statuses, and eligibility, without having to wait for help from a third party to correct a service disruption.

4. End-to-end RCM analytics

Having all claims workflows together in one interface is a great starting point for optimizing RCM efficiency, but you can take it to the next level by layering RCM analytics on top of claims management.

Integrated analytics means there’s no need to pull data from multiple sources or standardize the data in order to make it useful. Instead, all of the information you need is available at hand, putting an end to manual reporting.

Built-in analytics give you comprehensive insight into your RCM effectiveness, which not only minimizes the time you spend on data analysis, but makes it easy to identify further opportunities to improve your productivity and profitability.

Explore the power of integration with Inovalon

Without true integration, it’s nearly impossible to fully optimize revenue cycle performance. Discover how Inovalon’s full suite of end-to-end RCM solutions can help you strengthen your finances while alleviating the administrative burden of managing an independent practice. Learn more about Claims Management Pro and RCM Intelligence now.

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