An Effective Blueprint for a Medical Billing Company to Increase Client Practice’s Loyalty

Your pitch presentation went well and the client is interested in your Medical Billing Company, what next?

Allow me to share with you a firm way to deepen their trust. Propose them with a plan. Establish action points and work together to attain what your client expects.

RCM Result Framework

Simply sharing what you plan to do can be acceptable over a cup of coffee but professionalism demands that you present them with a proper action plan, based on an attainable time line.

RCM Result framework is used by numerous successful RCM companies so that a better assessment of their resources can be done. With this framework you are not just sharing a plan of action but a plan of care for your clients, keeping goals SMART with efficient resource allocation.

This not only keeps you on your toes to deliver the promised but keeps the client on alert as well. RCM result framework compels you to team up with your client, keeping both parties true and accountable towards the desired goals.

The first thing you need to do:

1. Analyze their business problems and select which ones to target

Take for example a client whose

1. AR over 120 days is 54.5%

2. DAR is 85 days

3. First Time Pass Rate is 63%

4. Resolve Rate is 66%

All these paints a drastic picture showing that client not only needs assistance to formulate an efficient billing process but a push to sustain this process further as well.

Conducting a thorough business analysis will help you prioritize the problems. It will enable you an insight as to why these problems exist in the first place and how can they be solved.

2. Link the targeted problems with their correlating KPIs

Now on the basis of the problematic features, formulate a framework showcasing how and when will the client get the expected results

Taking the example mentioned above,

Show them how you will help increase their Clean Claim Submission rate which in result will improve the First Time Pass Rate for them.

Be clear about how you will attain this and in how many days will the solution be noticeable.

3. Map out the KPIs in the RCM Result Framework with timeline

Shortlist the KPIs on the left side of the RCM Result Framework and keeping your Client Practice in the loop, build a thoroughly timed action plan.

Download the RCM Result Framework by clicking the button below.

RCM Result Framework

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4. Deliver the desired results with an optimally timed action plan

The advantage of having a time line based, resource allocated action plan is that it keeps the client as well as yourself clear on the requirements and fast on the planned results. Any missed step can be tracked, monitored and corrected. More so, based on the actual work conditions, the plan can be tweaked to match the pace of the business.

RCM Result Framework will help your client view you not just as your Medical Billing Company but as your partner, improving their trust in your business and allowing you space to function with comfort and confidence.

AltuMED prioritizes performance measurement processes, ensuring optimal productivity. With this METRICS driven approach, we challenge ourselves and our clients to shoot for the BEST. Set up a call with one of our experts to find out how we out-perform industry benchmarks.

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