Running a gastroenterology practice today means balancing tight margins with complex payer requirements. Between a list of revenue cycle management acronyms, a wide range of procedures, and ever-changing stipulations regarding which billing codes to use, you’ve got your work cut out for you. Fortunately, there is a way to simplify gastroenterology revenue cycle management.
Investing in RCM gastroenterology software is a high-ROI move that can be great for your practice. With the right tools in your corner, you can simplify revenue cycle management for gastroenterology, reduce the administrative burden, and make smarter financial decisions. Here’s what you need to know.
Patient revenue cycle management for gastroenterology practices is filled with challenges, including:
Colonoscopies, upper endoscopies, and other procedures require extensive documentation. Staff often juggle pre-authorization, prep instructions, and payer-specific coding, creating a heavy administrative burden. The result? Complex payer revenue cycle management for gastroenterology practices.
If your practice is still juggling this high documentation load manually, you are setting yourself up for denials and payment delays. Stop bleeding revenue and start using modern RCM gastroenterology software.
Gastroenterology coding is complex, and payers regularly adjust the rules. Even a minor error in a CPT modifier can lead to a claim denial, slowing down reimbursement. Winning at gastroenterology revenue cycle management means getting to the bottom of these issues and removing points of friction from your RCM workflows. You can’t afford to have anything standing between you and getting paid.
Revenue cycle management for gastroenterology is doomed to fail if it hinges on spreadsheets and basic clearinghouse tools. Without automation, your team will waste hours re-entering data, tracking down denials, and generating estimates. This leads to burnout and lost revenue.
Top solutions allow you to sort and filter through revenue cycle management metrics so you can slice and dice data on your own terms. These capabilities allow you to dig deep into data and uncover the root cause of revenue cycle challenges. The right gastroenterology revenue cycle management software will also equip you with these features:
By empowering you with these tools and features, a modern gastroenterology revenue cycle management platform gives you end-to-end visibility into your RCM workflows. If your actual revenue isn’t aligned with your projections, you can get to the bottom of why and resolve the problem. The ability to dig into the data gives you an edge over the competition while also promoting better patient experiences.
Additionally, effective GI RCM software should promote compliance with regulations like the No Surprises Act. Giving your patients a transparent look into their out-of-pocket expenses will promote trust and compliance while also protecting your practice from fines.
Rivet Health’s platform was designed with specialists in mind, so it’s a strong fit for GI practices. The platform’s Revenue Diagnostics service helps you pinpoint exactly where money is being lost and where you can make improvements. Features include:
Integrating Rivet with your EHR or EMR system allows you to create seamless workflows. You can avoid the headache of disconnected tools and unlock the full revenue potential of your business.
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Implementing revenue cycle automation and diagnostics tools from Rivet provides immediate short-term gains and long-term benefits. Mid-market and smaller practices in particular benefit from streamlined workflows and clearer financial visibility. Perks you can unlock with Rivet include:
The outcome is simple. Your practice spends less energy and resources on financial firefighting. Instead, your team can devote its time and attention to recapturing revenue.
Many practices still rely on clearinghouse bolt-ons or partial RCM tools from larger vendors. These “check-the-box” solutions often lack depth, leaving practices with gaps in reporting and denial management. Rivet takes a different approach:
Rivet simply outpaces the competition, making it the clear choice for gastroenterology practices. Download an Ebook to learn more about what Rivet Health brings to the table.
Implementing efficient patient revenue cycle management for gastroenterology practices means more than just avoiding denials. You’ve got to maximize revenue, keep patients informed, and reduce stress on staff. With Rivet Health, you can:
Rivet Health’s healthcare revenue cycle management solutions are designed to help Gastroenterology practices identify gaps in their RCM workflows, recapture more revenue, and grow their practices. Want to take your practice to the next level?