Improving the Revenue Cycle with Automation at pMD

In a previous post, we discussed how workflow automation is at the core of creating a more efficient revenue cycle management (RCM) process. At pMD, we've experienced first-hand the transformative power of automation in RCM. By leveraging workflow automation and artificial intelligence (AI), we made significant strides in boosting efficiency and financial gains for both ourselves and our customers.

RCM at pMD Before Automation

Initially, like many other RCM companies, we were reliant on manual processes in various parts of the revenue cycle. Tasks such as collecting patient demographics, insurance eligibility checks, and claim submissions involved hours of manual work. While our team was committed and diligent, the time-intensive nature and the risk of human errors posed a challenge.

Identifying the Need for Automation

Recognizing these hurdles, we identified areas within our revenue cycle where pMD employees and customers were spending hours of manual labor, and where automation could be applied for maximum impact. Key areas included patient demographics collection, eligibility verification, and patient billing:

  • Patient Demographics Collection: Pulling patient demographic data and manually entering it into pMD used to take hours. We created an AI-powered tool, called pDemographics, that would pull demographic data from an uploaded face sheet and automatically update the patient record in pMD. This has drastically cut down the time spent on manual data entry and reduced human errors.
  • Eligibility Verification: Manual insurance eligibility checks were cumbersome and error-prone before automation. The implementation of pDemographics not only improved demographic collection, but has enabled us to instantly verify patient demographics and coverage details, reducing claim denials.
  • Patient Billing: Most practices we partnered with early on relied on mailed letters for patient payments. To cut down on lead time for patient payments, we built an automated system to generate and send electronic patient statements immediately, speeding up collections.

The move to automation has significantly transformed our RCM services, leading to efficiency gains and cost savings for our customers. We have seen a noticeable reduction in manual tasks, lessened chances of errors, and a more streamlined revenue cycle. The changes have not just enhanced our internal operations but also enabled us to provide better service to patients of our customers.

How pMD® Can Help

At pMD®, our mission is to streamline and optimize the patient care episode and the revenue cycle. Through our advanced, end-to-end practice management and revenue cycle solutions, we can help practices consolidate vendors, reduce costs, streamline workflows, improve patient care and satisfaction, and collect their maximum reimbursement more quickly.

Not sure what a vendor could do to improve your behavioral health billing? Contact pMD® for a no-commitment financial impact analysis by our team of healthcare RCM experts free of charge!

To find out more about pMD's suite of products, which includes our charge capture and MIPS registry, billing services, telehealth, and secure communication software and services, please contact pMD.

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