Compass Revenue Cycle Management strives to offer accurate, efficient, and quality services to customers in the healthcare industry. Our services include billing and audits, rates and negotiation, and practice management and analytics. We will partner with you to keep the billing and money management side of your practice running smoothly so that you can focus on what’s important to you – providing quality services to your patients.
We cover all aspects of billing, patients to insurance companies, claims to payouts.
Save time negotiating payments and let Compass Revenue do they leg work.
We provide quick verification of benefits services to help the process run smoothly.
We manage all up-to-date documentation for auditing and reporting purposes.
We conduct primary source verification and contract agreements between all parties.
We will create and maintain proper documentation of your company's billing records.
We will reviewing instances of care while confirming the insurance company will provide payment.
Once you put your billing needs in our hands, we got it covered. Compass Revenue aims to provide accurate billing to ensure you get paid what you deserve and that your patients continue to trust you. We have developed a thorough and effective process for submitting and collecting payment so that nothing falls through the cracks. All services will be accounted for, and it will be done in a timely manner so that you can get paid faster. Our process works because we care.
With our services, each client will individually have their insurance eligibility and benefits verified through our system. Then, each of the notes from your service visits will be coded by a medical coder. Our medical billers will then process the codes and submit claims to insurance companies for reimbursement. This is only the first couple of steps of our process to ensure that you get reimbursed for your valuable services. We will continue to follow the claims that we submit by checking in on them consistently until they are paid by insurance. If the claim is not accepted by insurance for whatever reason, we will work diligently with the insurance company to rectify the situation.
Additionally, we will address any payment discrepancies with insurance companies to ensure you are getting paid what you are owed and what you deserve based on services provided and expertise. Once the insurance balance is paid, we will bill the remaining balance to the patient. We will continue following up with the patient to ensure they pay their balance as we did the insurance company. We will take care of collecting all payments and delinquent accounts. No box will be left unchecked.
Keeping track of insurance claims and patients’ bill status can be very time-consuming and confusing. We understand that your top priority is providing quality care, which means you don’t have all the time in the world to follow up on insurance claims and outstanding bills. Allow us to fulfill our main priority for you, which is providing accurate medical billing services. At Compass Revenue, we will use our proven process to ensure coding, billing, and reimbursement accuracy. In addition, we will perform regular audits of coding and billing to make sure that everything matches up from the service, to the coding, to the billing, and finally to the reimbursement. The benefit of these audits is to ensure that our services are accurate, you are getting the payment you are entitled to. Your patients continue to hold trust in you to bill their insurance for services rendered accurately.
Like billing and coding, we know that negotiating rates with insurance companies is also time-consuming and confusing. We will put in work to help you get reimbursed for what you are worth based on your credentials and expertise. We will do market research to identify the costs of similar services in your area and from professionals with similar credentials and backgrounds. Once we have compiled the data, we will analyze it and compare it to your rates. We will use this information to negotiate better rates between you and your insurance.
This can often mean noticing an increase in your rate. You may have had difficulty in the past negotiating a higher rate. You may have settled with the initial rate offered because you didn’t have time to do the research and negotiate a better rate, or you didn’t know how to go about it. Compass Revenue is knowledgeable and equipped to perform this research for you and assist you in being properly reimbursed for providing quality services.
As you are performing day-to-day tasks that you have learned to do on autopilot, we are collecting data from these daily tasks that you are doing. This includes scheduling, billing, note submissions, and other administrative tasks. While many may see these tasks individually as minute jobs, we understand that all of them together build a bigger picture of your practice. We will compile all of this data together so that you can use it to analyze various aspects of your practice.
Having this compilation of data will allow you to make better decisions and understand what problems may be present in your practice that you otherwise wouldn’t be able to notice with the naked eye. We also keep an eye out for any market changes and growth opportunities. We know the healthcare system and services within it are ever-changing. We help you to keep on track with these changes.
Here are just a few examples of data that we can track to examine how your practice is performing:
We can help you monitor the outcomes of patients that are participating in services within your practice. You can know from objective data the typical length of stay in treatment, improvement in scores on certain measurements, rate of successful discharges, and more. These data points can help you determine if your practice is overall performing well or if there are clinically some areas that may need to improve.
We can help you keep tabs on your overall budget through our compiled data. We can help you identify if you are on track to stay within your budget, if you’re going over budget, or if you’re doing so well that you have some money left over within your budget. We understand it’s important to keep an eye on this throughout the year.
Having access to all billing and coding data in your practice will allow us to help you identify any areas that are causing problems in terms of billing. For example, we can identify common errors that are made in regards to billing. This can include services that are being documented but not billed for, services that are being billed incorrectly and thus not charged appropriately, and more.
Running your practice efficiently in all aspects is important to keep in running smoothly for years to come. A smooth-running practice includes effectively managing staff, managing scheduling, other administrative tasks, rendering quality services, coding and billing, and more. However, all these tasks together take up much time, which can, in turn, take up a lot of precious time that could be used in offering additional services to your patients. We understand that it takes a village, so we’re here to provide services to help you excel further in your practice.
Compass Revenue Cycle Management specializes in offering medical billing services that are efficient and accurate. We have developed a process that has worked well for many other companies. We will ensure that billing is accurate, you receive payment promptly, and we will find opportunities for growth within your practice.
Contact us today to learn more about how we can help you improve your billing experience.