A healthcare revenue cycle management company deals with end-to-end revenue management for their clients, usually healthcare practices. Each of these service providers has a list of services that they offer to clients. It could be core RCM management or include additional services like denials management or account management. Healthcare account management services are one such additional service that many providers offer.
What is account management, and who would benefit from it?
A third-party RCM service provider doesn’t deal with just one client. They can have a long list of clients for whom they work simultaneously. This is quite normal and expected in the healthcare industry.
For such third-party service providers, each client is an account. The same set of teams can work for different accounts, and such teams are generally extremely busy all through the day.
Healthcare account management service is the practice of having a dedicated point of contact for each account so the client has someone dependable to reach out to any time of the day.
This is like having one of the client’s managers working on-site, overseeing the process from end to end.
What are the benefits of opting for healthcare account management services?
- A dedicated point of contact for the client
- Help is available anytime during working hours quickly
- A dependable person on-site to handle everyday affairs
- The client does not have to run behind multiple teams to sort out issues
Who would benefit from healthcare account management services?
If you are a large healthcare practice and have hired one of the busiest RCM service providers to handle your backend business, then it is absolutely smart to hire a dedicated account manager. This way, you can save time trying to get answers or help.
Such account managers are usually available on call, text, or email and respond swiftly.
Now, there are different categories of healthcare account management services that you can opt for. Smaller practices may do with just one account manager to handle all their services. If you have offloaded a large chunk of your billing and coding to the revenue cycle management service provider, then you may need more than one POC.
You could have a general account manager, a coding manager, a receivables manager, and even an audit expert to handle your account independently.
Doing this may seem slightly more expensive in the short run. However, this saves clients time, resources, and energy trying to coordinate with the third-party service provider. In the long run, this is definitely more beneficial.
Takeaways
Healthcare account management services is one of the strategic services that can save clients time and resources trying to get in touch with different billing, coding, receivable, and audit teams of the third-party service provider. Working with an RCM service provider that also offers healthcare account management services is definitely a smart move.
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