| | SEPTEMBER 202119UTLOOKHealthcare Tech There is even an option for providers to toggle the automation on for particularly complicated encounters or when they are strapped for time, allowing doctors to cherry-pick which encounters they want to complete and which they prefer the professionals to handle for them. When asked about what Claimocity is doing to ensure revenue growth, Jensen replied, "Our business model is built on growing with our clients."It would be safe to say that 99 percent of medical billing services draw a line that they won't go beyond. Either they lack the ability, or it's not profitable to go after every claim, to rework complex denials, to have their teams make dozens of calls (on a single claim), to allocate every resource available, and do whatever it takes to collect everything possible. There is a line where a claim becomes not only financially unprofitable but exceedingly costly to the medical billing services in terms of time and effort. This line is a key differentiator for evaluating billing services. A big part of the lack of transparency in the industry revolves around an unwillingness by RCM companies and in-house billing and coding teams to reveal where they draw the line and what revenue is being left on the table. At Claimocity, we don't separate profitable claims from unprofitable ones, so there is no line. We believe that doctors should get paid for every single encounter they perform, and we make a point of pride to collect everything. To that end, we have over 4500 certified coders and RCM specialists on staff working around the clock. This blend of advanced technological infrastructure and a highly proficient array of experts ensures that we have the processing power to get the most claims collected at the highest levels in the shortest time possible. For example, while the industry average is anywhere from 24-48 hours, our claims go out in an average of 10 minutes after the charge capture process is completed by the doctor. Best of all, the machine learning algorithm and quality control oversight teams funnel all the data through a series of proprietary feedback loops, which are designed to reveal granular assessments of identified problem areas and real-world growth opportunities. This is only possible because of the high level of revenue intelligence data that comes from state-of-the-art end-to-end RCM analyses."We call it having the horsepower to do more," says Jensen, "And it is a blend of well-designed systems, smart software, and highly experienced industry experts at every stage of the process."He goes on to explain that by not differentiating between claims that have financial value verse those that have a financial cost, Claimocity willingly reduces its own short-term profits in favour of maximized short and long-term revenue growth for the client. "We believe in doing what is best for the doctors that work with us. Our clients see first-hand that we do everything possible to make their lives easier and get them what they are owed. Then when they inevitably grow, we grow."He went on to cite multiple internal case studies on hospitalist practices that showcased mutually beneficial revenue trend lines as well as ancillary variables studied such as added providers, expanded weekly encounter averages, improved coding efficiency levels, and increased revenue collection efficiency levels."When you tell people the truth, show them the data, and do everything you can to help them save time and make more money," Jensen concludes, "you get well informed customers who understand how much you value them and can make informed decisions about what is best for their practice." HTWhile transparency is key for accountability and practical decision making, coding efficiency is one of the most impactful opportunities for improvement in the revenue cycle
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