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MediRevv: Driving Revenue Cycle Management with Phased Approaches
With a greater number of reforms introduced in healthcare, the overall landscape for solution providers, physicians, and hospitals has hauled in complexities around revenue cycle management, impacting the quality of healthcare services. As the neighboring healthcare organization prepares for 2016, it is critical that right personnel and workflows are in place. At the threshold of these challenges is MediRevv, a healthcare revenue cycle management firm that operates alongside physician groups, health care institutions, and academic medical centers. “The company firmly believes that the gamut of patient care by a healthcare provider should extend far beyond the treatment and billing. In fact it should be made accessible even during post-treatment stage,” says Chris Klitgaard, CEO, MediRevv.
MediRevv has effective pay strategies of revenue cycle management and helps the health-care providers to implement winning self-pay strategies which results in the maximization of cash collections and enhancement in patient satisfaction. An accurate measurement of the revenue lifecycle is developed through the key performance indicators (KPI) given by MediRevv. Through the extensive use of these KPIs, the health-care providers would be able to build long-term relationships with its clients.
The company’s insurance collection solution is powered by myQ, a proprietary application which serves to stratify all types of claim follow-up activity. myQ serves to capture real-time tracking of revenue to curb the number of backlogs in revenue cycle management. Additionally, MediRevv uses a tired, phased approach to drive performance of revenue cycle management.
“We provide effective collection and resolution strategies specific to client’s legacy system, allowing internal resources to focus on the implementation, training, and utilization of the new system,” says Klitgaard.
Furthermore, the company’s client-centered approach toward ac¬counts receivable collection is what separates it from the rest of the industry. Transparency is the keystone on which MediRevv’s strategic business plan was built on. The company provides the clients with the most accurate information about their performance and the results obtained by them in the best interests of patient care and up-keep.
For instance, Northeast Georgia Health System (NGHS) made a move to a new patient accounting system during the 2014. They had a huge backlog of insurance accounts receivable in the legacy system. MediRevv stepped in and resolved the payment related issues within the first 11 months of the engagement. “Working with insurance is not straightforward and MediRevv resolves claims and manages denials with ease and efficiency for its clients,” says Klitgaard. Since then, NGHS's accounting team has been free to focus on higher percentage collectibles.
We provide effective collection and resolution strategies specific to client’s legacy system, allowing internal resources to focus on the implementation, training, and utilization of the new system
Renowned for its highly educated workforce, MediRevv’s employees have a deep understanding and experience in serving quandaries related to revenue cycle in healthcare sector. “Each member of the MediRevv team is committed to deliver customized account receivable domain both in the present and the future with a sharp focus on excellence,” says Klitgaard. The company plans to proceed to the future carrying the same zeal and expertise in aiding companies in healthcare segment.
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