ChartLogic Revenue Cycle Management (RCM) has been officially renamed to ChartLogic Medical Billing Services. The two terms are somewhat interchangeable throughout the industry and there isn’t too much of a difference between the two. You may find that RCM relates more to hospitals and large networks of practices while medical billing services relate more to ambulatory practices, but there is no clear distinction between the two.
Why the change?
Being that ChartLogic focuses on specialty ambulatory practices, it makes more sense to name the solution based on what resonates better with our target audience and customer base. Yes, they are very similar and provide the same features and services, but we want to make it easier for practices to understand and feel medical billing services is the clearer approach.
Also, we want to set ourselves up for the future as more and more practices are turning to medical billing services. With the recent ICD-10 transition, there is a growing need for practices to continually decrease costs and increase revenue. In addition, the Affordable Care Act has led to a boom in health insurance enrollment. This will increase the total number of claims being processed, resulting in a higher demand for billing staff. A medical billing service can help relieve these added costs and human resource needs.
Even though the terms are fairly similar, ChartLogic has been focusing more on providing strong medical billing services that help practices save time, and more importantly, get paid. The purpose of ChartLogic Medical Billing Services is to manage your practice’s billing, collections and more so your practice can focus on patients. We take care of the claims process while maximizing profit and providing complete access to detailed financial data.
Key medical billing services ChartLogic provides:
- Benefits and Eligibility
- Chart Audits (Quarterly)
- Claims submission / Exclusions
- EFT Setup
- A/R follow up
- Patient statements
- Old A/R Follow up and cleanup
- Patient Balances Protocols
- Collection Company
- Compliance Audits
- Contract Negotiation
“The billing with ChartLogic is definitely different from our last solution which had a lot of issues trying to get our claims out, I felt like we were doing most of the work for them. We love our claims now, it is way easier!” – Jennifer Gonzales, Office Manager, Advanced Orthopaedics & Sports Medicine
Benefits for your practice:
- Included Electronic Medical Record and Practice Management software
- Decrease Practice Overhead
- Increase Practice Efficiency
- Avoid Negotiating with Payers and Credentialing Bodies
- Complete Transparency
- Collaborative Engagement of IT/Technology
- Best Practice Training Included
- Achieve Positive ROI
- Easier and Successful ICD-10 Transition
- Prepare for Value-Based Reimbursements
- Reactions to the Affordable Care Act
- Connect Reimbursement to Quality Care
Typical results to expect:
Reduce Administrative Costs by Over 50%
20-30% Decrease in A/R Over 90 Days
17% Increase in Net Collections
Decrease Average Number of Days in A/R <= 30 Days
Reduce Billing Costs to Only 4-7% of Collections
We manage your billing, collections and more so you can put the focus back on your patients. To speak with a medical billing services expert and learn more about how ChartLogic can save your practice time and money, click here.