GoSoft will evaluate your entire revenue cycle management and provide a report. The specific process we will evaluate are
GoSoft uses Key Performance Indicators to check the health of your revenue cycle management. Once we complete our analysis, we will be able to pin point areas that will significantly optimize financial performance.
There are 3 aspects to the revenue cycle management. (1) Coding and Billing (2) Payment Posting (3) Follow Up. From our experience working with many offices, it is often not possible for a single person to work on all these aspects. We work with many offices with 1-5 physicians and find that the Accounts Receivable has been increasing with time due to lack of man power for Follow Up. Even if you are single practitioner who sees 30 – 45 patients a day, having a single individual work on your billing can turn out expensive in the long run due to a growing Accounts Receivable. Coding and claim submission on a daily basis is the least time consuming task.
At GoSoft, we have specialists in all three aspects of revenue cycle management working simultaneously. There will be no delay in claim submissions, payment posting, or follow up and by sheer increase in man power alone, we will be able to improve your collections. We also have MagikTrak, our proprietary software that tracks claim status (paid or outstanding) and helps optimize financial results through intelligent data analytics.
Every practice is unique and GoSoft will work with the client to figure out the best option for the practice. Most of our customers starting with a single service and then transition to using the entire portfolio over a 2 month period. For instance, you may send your eligibility and authorization services to GoSoft initially and then transition into billing and coding. Alternatively, you may begin with billing and coding and transition into eligibility and prior authorization services.
Well, the best way is to see an improvement in collections. However, you will be able to log in to MagikTrak or the Practice Management Software and look at our performance real-time. We believe in transparency and will do what it takes to ensure that we are keeping our clients happy.