The Revenue Cycle Management (RCM) expertise to help you generate, capture, collect and protect your revenue, backed by a guarantee that goes right to your bottom line.
Revenue Maximization and Cash Management are the lifeblood of any healthcare provider. However, inefficient workflows, poor training, frequent staff turnover, and the lack of actionable intelligence lead to providers leaving revenue and cash on the table.
Today, providers are struggling to cope with new regulations and requirements such as ACO, PCMH, and value-based reimbursements. Further, CFOs are searching for solutions outside the traditional RCM process to efficiently make the move from the FFS to the P4P model.
IKS MARGIN is the ‘One-Stop’ solution for all revenue and cash problems facing healthcare providers today. At IKS, we align our success with our clients’ and ensure that our clients generate, capture, collect and protect their revenue cost-effectively. Through our proprietary tools, methodologies and expertise, IKS MARGIN guarantees a significant improvement in in our clients’ financial performance.
- Increase patient visits through referral management and patient scheduling
- Maximize net collectible revenue through contract analysis, charge capture and accurate coding
- Increase cash collections though IKS DARE’s informed billing, posting, denials management and A/R follow up
- Reduce revenue cycle costs through automation and process efficiency
- Grow practices and providers seamlessly without adding infrastructure
Scheduling & Eligibility/Authorization
Scheduling & Eligibility/Authorization services ensure that every patient interaction is treated as an opportunity to boost physician productivity. IKS MARGIN’s workflow process schedules patients with the right providers at the right time and reserves adequate space for walk-ins, ensuring schedules are fully and appropriately slotted. When combined with a comprehensive eligibility and authorization review, revenue is protected and enhanced and patients get the care they need.
Payer Contracting & Under-Payment Analysis
The IKS MARGIN proprietary Contracting Analytics identifies reimbursement rates, payment trends, rejection rates, denial rates, and denial resolution rates for providers in order to support payer negotiations. By identifying underpayments, initiating recovery from payers, and supporting provider enrollment and credentialing, IKS Health drives an aggressive under-payment recovery process.
Why receive less when others are negotiating better terms?
- Key indicators from both clinical and administrative systems
- Identify trends in contracted rates and payments to maximize revenue upside opportunities
- Fix revenue leakages through under-payments
- Prevent of future under and over payments
Charge Capture verifies that charges transition properly from the EHR to the Practice Management System. Service features include proactively detecting and eliminating errors in charge capture, minimizing claims in the EHR holding tank, delivering feedback to the practice to collect co-pays, and reducing denials through more accurate charge capture
A comprehensive audit process that includes correction of coding errors, as well as recommending additional codes as appropriate, revenue is captured accurately.
For providers that require a second opinion, IKS MARGIN offers professional Coding Review Services that delivers rapid feedback on coding accuracy and the appropriate adjustments as necessary.
The IKS Health clinician review team offers 24-hour or 48-hour turnaround as needed, and is CPC, CPC-H, and CCS certified.
Billing, Payment Posting & A/R Services
IKS MARGIN’s collections maximization suite includes full service billing, payment posting and AR follow up solution that maximizes cash collections for your organization. Denials and rejection information captured in the IKS DARE process and visible in the IKS DASHBOARD is applied to the billing function. IKS MARGIN proactively removes barriers to clean claim submission and resolves “global” billing issues (such as those related to File Maintenance) to maximize clean claims submission.
The IKS MARGIN payment posting process offers accurate and prompt posting and credit balance resolution, ensuring that account receivables data is clean, and patient statements are accurate.
With teams organized by payer and state, IKS MARGIN offers an expert internal knowledge base, the key to efficient A/R follow-up. Proprietary A/R work flow tools and the ability to monitor claims status, help us maximize A/R resolution.
Denials and Rejections Elimination (DARE)
Increasing First Pass Payment Ratio by preventing denials and rejections allows providers to collect more and collect faster with less rework and fewer handoffs.
IKS MARGIN focuses on preventing rejections and denials so claims are paid cleanly incorporating IKS knowledge gained by working with thousands of providers and ambulatory organizations nationwide. What’s our secret? IKS MARGIN incorporates analytics to identify root causes for rejections and denials so action plans can be put in place to prevent issues in the future.
Client Feedback: Pediatric physician practice looking for smart growth
Midwest multi-specialty practice
- 200 physicians
- 700,000 outpatient visits annually
- Non-Profit Hospital Owned
- Declining billings
- Rapid growth driven by an expanding physician base
- Implementing technology to meet regulatory requirements and streamline practice processes
- Reallocated billing staff to support EMR project
Revenue Cycle Tranformation
The IKS Impact
- Collections increased by 44%
- Revenue cycle management (RCM) costs reduced by 35%
- Revenue per provider increased from $25,000 to $36,000
- Receivables reduced from 35 days to 26 days