Precise Billing for Maximized Psychiatry Revenue.
Efficient Billing, Faster PaymentsReduce Denials, Increase RevenueStreamlined Claims, Optimized CashflowExpert Management, Financial SuccessFinancial Clarity
Ensure your Psychiatrist practice‘s financial health with our specialized Medical Revenue Cycle Management. We provide accurate billing, efficient claims processing, and comprehensive revenue tracking, allowing you to focus on delivering exceptional patient care.
Altrust Services offers specialized Medical Revenue Cycle Management (RCM) tailored specifically for psychiatrists. We understand the unique billing challenges in psychiatric care, including complex coding and frequent changes in insurance regulations. Our team of experts is dedicated to ensuring that your billing processes are accurate, efficient, and fully compliant, reducing the risk of denials and delays. By partnering with Altrust Services, you can focus on providing vital mental health care to your patients, knowing that your practice’s financial operations are in skilled hands.
When Altrust Services manages your psychiatric billing, your practice benefits from increased financial efficiency and stability. Our comprehensive RCM services streamline billing workflows, reduce claim denials, and ensure timely reimbursements, allowing your staff to concentrate on patient care rather than administrative tasks. We provide in-depth financial reporting and analysis, giving you valuable insights into your practice’s revenue cycle. By minimizing billing errors and optimizing cash flow, Altrust Services helps your psychiatric practice thrive, enabling you to focus on expanding services and improving patient outcomes.
WhAT SERVICES OFFERED IN AltruST
Optimize billing, reduce denials, and maximize practice revenue.
Patient Registration and Eligibility Verification
Accurate capture of patient demographics and insurance information during registration. Verification of patient insurance eligibility and benefits to ensure coverage and reduce claim denials.
Charge Entry
Accurate entry of charges for medical services provided, ensuring that all billable services are captured. Review and validation of charges to prevent errors and ensure proper billing.
Claims Submission
Preparation and submission of claims to insurance companies and payers. Use of electronic claims submission (EDI) to expedite the payment process and reduce the risk of errors.
Payment Posting
Posting of payments received from insurance companies, patients, and other payers to the appropriate accounts. Reconciliation of payments to ensure accuracy and identify any discrepancies.
Denial Management
Identification and analysis of claim denials to determine the root causes. Implementation of strategies to appeal and resolve denied claims, reducing the impact on cash flow.
Accounts Receivable (AR) Management
Monitoring and follow-up on outstanding accounts receivable to ensure timely collection of payments. Implementation of strategies to reduce AR days and improve cash flow.
Patient Billing and Collections
Generation and distribution of patient statements for any remaining balances after insurance payments. Follow-up on unpaid patient balances and management of payment plans to ensure collection.
Reporting and Analytics
Generation of detailed financial reports and analytics to provide insights into the practice’s financial performance. Analysis of key performance indicators (KPIs) such as AR days, denial rates, and collection rates to identify areas for improvement.
Compliance and Regulatory Support
Ensuring that all RCM processes adhere to healthcare regulations, including HIPAA, and other relevant laws. Implementation of best practices to maintain compliance and reduce the risk of audits and penalties.
Revenue Optimization Consulting
Providing strategic advice on optimizing revenue cycles, including improving billing processes, reducing denials, and enhancing overall financial performance. Identification of opportunities for revenue growth and cost reduction.
Getting Started
Schedule a Free Consultation
Contact us to discuss your Psychiatric practice’s needs and goals.
Initial Assessment and Proposal
We’ll conduct a thorough assessment and provide a customized proposal.
Onboarding and Strategy Development
Begin the onboarding process and develop a detailed marketing strategy.
Implementation and Optimization
Implement strategies, monitor performance, and make adjustments as needed.
Continuous Monitoring and Support
Receive regular updates and support to ensure ongoing success.
Ready to elevate your Psychiatrist practice with expert Medical Revenue Cycle Management? Contact Altrust Services today to schedule your free consultation and start achieving your goals.