Patient Data Management Services
Sometimes getting the basics right can make a huge difference to the profitability of your medical practice! In revenue cycle management, those basics start with efficient patient data management services.
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We enter or validate patient demography data, coverage and patient responsibility data. We have the skills to import such patient data from hospitals and other systems into third party systems, proprietary systems, or our native systems for active intervention.
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We build or deploy existing tools, edits and audits that will ensure a 100% accuracy target for claims prior to filing, as shown by our industry-leading first pass ratio of 91%.
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Capturing accurate patient demography, coverage and benefits and payer information are the initial essential steps in effective billing. Validated benefits, coverage and comprehensive payer data, slash 28-33% of the cost of billing, which is an advantage to our clients.
3 Important Implications of Accurate Patient Data Management services
Vital to your practice getting paid:
Patient demographics are at the core of electronic health records and health insurance claims. Accuracy of patient data impacts every subsequent step in revenue cycle management like insurance eligibility verification, prior authorization, and claims approvals.
Important for patient communication:
Your entire patient communication strategy (physical statement, payment reminders via phone/ text, and electronic messages) hinges on the accuracy of contact information.Impacts Patient Care Delivery:
Accuracy in patient data management services is vital for evaluating existing medical conditions and rendering value-based healthcare.VITAL TO YOUR PRACTICE GETTING PAID:
Patient demographics are at the core of electronic health records and health insurance claims. Accuracy of patient data impacts every subsequent step in revenue cycle management like insurance eligibility verification, prior authorization, and claims approvals.
IMPORTANT FOR PATIENT COMMUNICATION:
Your entire patient communication strategy (physical statement, payment reminders via phone/ text, and electronic messages) hinges on the accuracy of contact information.
IMPACTS PATIENT CARE DELIVERY:
Accuracy in patient data management services is vital for evaluating existing medical conditions and rendering value-based healthcare.
Ensuring that all patient information is received via the paper-based registration process, or the patient scheduling system is updated on the medical practice’s EMR is tedious and time-consuming. Hiring additional staff is often not an option due to space constraints at the practice office. Therefore, choosing to outsource the administrative task of patient demographics updates can be financially beneficial to medical practices. With accurate patient data management services by Firstsource, you enjoy higher claim approval rates.
Top 10 Reasons to Outsource Patient Data Management Services to Firstsource
Firstsource specializes in patient data management services, which means they have extensive knowledge and experience in handling and managing patient demographics, coverage, and payer information. Outsourcing to them ensures that you are partnering with experts who understand the intricacies and nuances of the process.
Medical practices can significantly reduce operational costs by outsourcing patient data management services to Firstsource. Hiring and training additional staff for data management can be expensive, especially considering the need for continuous training and keeping up with changing regulations. Outsourcing allows you to access cost-effective services without the need for additional infrastructure or human resources.
Medical practices often experience fluctuations in patient volume, which can create challenges in managing data efficiently. Firstsource offers scalability and flexibility in their services, allowing you to adapt to changing demands seamlessly. They can handle large volumes of patient data during peak periods and adjust their resources accordingly.
Patient data security and compliance with privacy regulations, such as HIPAA, are critical in the healthcare industry. Firstsource has robust security measures in place to protect sensitive patient information, ensuring confidentiality and compliance with all relevant regulations. They invest in advanced data protection technologies and adhere to strict security protocols to mitigate any risks associated with data breaches or unauthorized access.
Firstsource’s focus on accuracy and quality in patient data management translates into fewer errors and higher claim approval rates. Their expertise in capturing and validating patient demographics, coverage, and benefits reduces the chances of claim denials, delays, or underpayments. This ultimately leads to improved revenue generation for medical practices.
Outsourcing patient data management services to Firstsource streamlines the overall workflow of your medical practice. By offloading time-consuming administrative tasks, your staff can focus on core patient care responsibilities, leading to improved efficiency and productivity.
Firstsource invests in state-of-the-art technology and software solutions to optimize patient data management. By outsourcing to them, you gain access to these advanced tools without incurring the additional costs associated with their implementation and maintenance.
With Firstsource’s efficient processes and dedicated resources, you can expect a faster turnaround time for patient data management tasks. This means quicker updates to electronic health records, eligibility verification, and claims filing, leading to faster reimbursement and improved cash flow for your practice.
Firstsource has experience in integrating patient data management services with various third-party systems, proprietary software, and electronic medical record (EMR) systems. They can ensure seamless integration, eliminating any potential disruptions or compatibility issues.
Outsourcing patient data management services allows medical practitioners and staff to allocate more time and energy to patient care. By partnering with Firstsource, you can prioritize providing high-quality healthcare services while leaving the administrative burden of data management to the experts. This ultimately leads to better patient satisfaction and overall practice success.
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