Practolytics - End-To-End Revenue Cycle Management Solutions
The financial stability of all healthcare systems depends on revenue cycle management, just as obtaining quality treatment and care is essential for optimal health. Although healthcare practitioners don’t tend to focus on revenue management, the system as a whole cannot ignore its significance. It’s not simple to organize medical supplies, acquire medical equipment, and pay wages to healthcare workers, especially when there is a population with a rising need for healthcare. Through its technology-driven and laser-focused approach to setting up procedures, Practolytics has a demonstrated track record of improving the financial health of several practices. They handle the administrative duties so that one may concentrate on providing high-quality care for the patients. A healthcare technology and management firm with over 20 years of experience is Practolytics. Practolytics partners with medical facilities to offer comprehensive solutions to the ever-changing landscape of healthcare payment. “A provider can have at its disposal the greatest, most effective treatment ever, but if he or she cannot get reimbursed by an insurer, it becomes impractical to offer it. It is the patients that lose. Practolytics will ensure that providers can offer such treatments to their patients and have the confidence that they will get paid for their valuable time and effort. It empowers healthcare practices by offering such services as medical billing, best practices consulting, and deep dive analytics, allowing practices to eliminate revenue cycle management inefficiencies. Through its specialized focus and expertise, Practolytics maximizes revenue and increases profitability for its valued clients”, says Manik Chawla, CEO of Practolytics.”
Pre-authorization enables the practice to prevent insurance denials for expensive procedures. The absence of pre-authorization very certainly prevents the claims from being paid. By providing the required documentation and securing the pre-authorization two days beforehand, they assist in taking on the load of pre-authorizations. Practolytics’ reliable and open system enables the practice to monitor the progress of all pre-authorizations that they have started on a daily basis. Their team of professionals works with all government and private insurance companies, including Cigna, Humana, Medicare Advantage Plans, Medicaid, and all commercial insurance companies, in their capacity as trusted partners and in accordance with established processes. Practolytics notifies the practices well in advance of the patient’s scheduled operation if the authorization needs peer review. This assists in preventing authorization denials. Practolytics’ staff has all the necessary tools and obtains the information needed to submit authorization requests by using online insurance portals. Their knowledge of working with insurance providers allows us to complete the task more quickly and effectively. They can assist an organization and handle the paperwork in a timely manner, whether they have a provider that is just getting started or whether they need help handling continuing activities like CAQH attestation or re-credentialing and revalidation with Medicare. When an organization uses Practolytics payor enrollment services, they help the organization make sense of the confusion. As Practolytics are familiar with the proper paperwork for the appropriate payors and are aware of their requirements and peculiarities, they can get an organization billable more quickly.
One can be sure that they are in compliance and that the quality of the work is not impacted by outsourcing to payor enrollment consultants. To make sure that every application is found, a bi-monthly progress report on credentialing will be shared with the practice along with the call reference number. Practolytics’ professionals make sure that CAQH attestations are completed promptly. This makes it possible for applications to be processed quickly. In 95% of the states, their direct interactions with insurance personnel enable us to go through the procedure swiftly and obtain results promptly. They guarantee quality, compliance, accuracy, fewer claim denials, and maximum reimbursement with their medical coding services. Practolytics’ coding specialists have AAPC, AHIMA, and specialty-specific certifications. To make sure that information about the patient’s evaluation, treatment, or monitoring is recorded during exams, charts are reviewed. For both clinicians and facilities, they have expertise in managing both inpatient and outpatient coding. When an organization uses Practolytics to handle the medical coding needs, they’ll streamline all of the submissions, shorten the TAT, and lower the expense of the administrative work. Their medical coding consultants follow state and federal insurance rules. Practolytics has a team of skilled medical RCM professionals with in-depth knowledge and professional skills who give the best quality of service, serving more than 28 medical specialties.