Operating Critical Access Hospitals (CAHs) or rural hospitals can be difficult for managers. While you are committed to providing excellent care for your patients, you may also feel as though you are continually battling with your revenue cycle.
At iMagnum Healthcare Solutions, our outsourced medical billing and revenue cycle management (RCM) services greatly support and enhance the efficiency of your current staff and provide you with the financial resources necessary to serve your community. Our focus is not solely on claim submission but rather on establishing a sustainable revenue base for you in the future.
Difficulties of RCM in Rural Hospitals
If any of these sounds familiar, you're not alone:
- High Denial Rate: The demands of limited staff and multiple payer rules create numerous opportunities for errors in coding or insufficient documentation to support claim reimbursement which leads to increased denied claims.
- AR Backlog Burden: The rapid accumulation of aging accounts receivable impedes cash flow, ultimately jeopardizing the rural hospital's ability to be financially stable and maintain operations.
- Staff Shortage: Many small hospitals do not have the requisite resources for billing and coding, increasing the workload of the limited number of people who are left to perform these duties.
By helping to address these challenges, iMagnum gives rural hospitals the tools to lower their collection costs, prevent revenue loss, and get paid more quickly. iMagnum can provide your team with the support necessary to operate in a sustainable and efficient manner.
Why Hospitals Feel Better Choosing iMagnum
As a community hospital, we understand your unique revenue cycle needs. We have gained years of experience to help streamline your processes and maximize reimbursement for you.
- Our certified coders provide accurate inpatient and outpatient coding through extensive training and experience to reduce risk to your revenue cycle.
- The Denial Management Team focuses on prompt identification of claim denials and includes follow-up to identify and eliminate the root cause.
Aging A/R is proactively managed on a daily or weekly basis to reduce days in A/R to improve cash flow for you.
Meet RevShield A.I.: Your Smartest Revenue Assistant
Think of an automated RCM (Revenue Cycle Management) assistant working ahead of time; that’s what you get with RevShield A.I.
This highly intelligent platform automates processes that allow you to gain confidence your claims are submitted correctly before they leave your office.
- Automatically checks your patient’s eligibility
- Prediction of possible denials and prevention of them
- Prior Authorization Automation
With RevShield A.I., you reduce manual errors and revenue leaks, allowing your small billing department to perform at the level of much larger organization while maintaining their current practice standard.
Our More Specialties
- Neurology
- ObGyn
- Occupational Therapy
- Oncology
- Orthopedic
- Pain Management
- Pediatrics
- Plastic and Reconstructive Surgery
- Podiatry
- Radiology
- Respiratory Therapy
- CCM RPM TCM and Monitoring
- SNF Billing Services
- Home Health Revenue Cycle Management
- Sleep Center RCM Services
- Comprehensive RCM Services for Modern Hospitals
- Sleep Study Reporting
- Speech Therapy
- Sports Medicine
- Urgent Care
- Urology
- Wound Care
Our denial rate was hurting us financially. iMagnum’s coders and their RevShield A.I. helped us catch issues before submission. Denials decreased, reimbursement improved, and our team now works with far more confidence
Revenue Cycle Director
Our A/R was piling up, and we didn’t have the staff to chase claims. iMagnum cleared our backlog, recovered lost revenue, and kept our aging claims under control. Their reports are detailed and transparent.
CEO
Eligibility checks and authorization delays were slowing us down. RevShield A.I. automated so many manual tasks that our small team could finally keep up. It feels like having a bigger department without hiring more people.