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Webster's New World Dictionary defines the word ‘virtual' thusly: adj. being so in effect, although not in actual fact or name. Even this plaintive and somewhat ambiguous definition leaves much to the imagination, but the 21st century usage of the word suggests a high-tech, cutting edge and scalable business philosophy. And, of course, it was bound to eventually inch, scratch and push its way into the Revenue Cycle Management (RCM) industry's common lingo, so without further adieu, here it is: |
On behalf of the entire GeBBS Healthcare Solutions team, it is with great honor, and a little fanfare, that I introduce our exciting new Virtual RCMTM service model for Medical Billing Companies. You see, GeBBS' expert offshore BPO division caters almost exclusively to billing companies that support physicians and hospitals, and we pride ourselves on operating as a seamless ‘extension' of the expert RCM services provided to these medical groups by the billing companies. Why a Virtual RCMTM service model? Glad you asked.
The rationale here is actually quite simple: GeBBS will perform virtually any RCM service that is not deemed to be ‘customer-facing'; all customer-facing tasks, some of which may seem boringly common to the uninformed eye, are, in fact, critical in nature and represent the very lifeblood and well-being of a billing company. These tasks include Customer Service, Sales and Marketing, and Finance and Accounting. So, you implore, what about the Virtual RCMTM service model? Listed below is a general, albeit incomplete, compilation of the Virtual RCMTM services that GeBBS provides:
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Coding Services |
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Charge Capture Services |
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Demographic Capture Services |
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Payment Posting Services |
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Accounts Receivable Management (ARM) Services |
Obviously, this is not a comprehensive tally of all non-customer-facing RCM tasks provided to physician groups and hospital groups by billing companies, but the sophisticated readership of this newsletter undoubtedly catch my drift. Now, in order to qualify as the genuine Virtual RCMTM article, GeBBS must perform a predominance of the services listed above and exert significant influence on the dollar amount collected through our expert and politely persistent efforts. In this instance, GeBBS will charge our billing company client a modest percentage of collections, making this bold new business model not only highly compatible but completely results-oriented! Very gratifying for all participants and quite profitable for the billing company!
GeBBS' Virtual RCMTM service model is built on the premise that the proper application of domain knowledge, technology and offshore resources will result in every billing company's gold standard: Maximizing reimbursements while reducing expenses - and continuing to provide world-class Customer Service! When all is said and done, this business model will save you, Mr./Ms. Medical Billing Company Executive, about 50%, based upon the actual services rendered, to that critical bottom line acronym – your EBITDA. Guaranteed!
In fact, if a billing company is forward-thinking enough to take GeBBS up on this mind-bending, margin-altering offer, and doesn't realize the approximate savings indicated above after six months of utilizing the Virtual RCMTM service model, you can walk away with the full assurance that GeBBS will make any transition seamless. So, put the dictionary away and take your company's future to a brave new virtual world! Carpe diem! |