Setting up an effective revenue cycle for your Department of Labor patients can be challenging. This is especially true if you’re doing it on your own! We’ll cover what outsourcing RCM services can do in a moment. But first, let’s talk about what you can do to start setting up an efficient system at your own practice.
How to Setup a Revenue Cycle For Your Department of Labor Patients
To begin getting your revenue cycle management on track, be sure each of these steps are taken into account:
- Pre-registration for Department of Labor patients
- Registration
- Case Management
- Prior Authorizations
- Charge capture, whether automated or manual (This is often where charges are missed)
- Claim submission
- Remittance processing
- Insurance follow up to identify denials and claim appeals
At first glance, each of these steps might sound pretty straightforward. But at the end of the day when paperwork piles up in front of you, it’s easy for these tasks to become overwhelming. Even worse, they could be completely overlooked!
The problem is, when every step of the revenue cycle for Department of Labor patients isn’t covered, your practice misses out on multiple revenue-generating opportunities.
DOL Billing
Department of Labor billing can be a full-time job on its own. From keeping up with the medical fee schedule and everything else that goes into RCM, it can all be too much for one practice to manage alone.
To give you a head start, take a look at some helpful information about billing for Department of Labor patients:
- The Department Of Labor pays every Friday
- The average time cycle for DOL RCM is 14 days
- It takes approximately two weeks to be credentialed for DOL
- The DOL Fee Schedule averages 160% of your regional Medicare allowable
How RevStream Can Help with Billing Department of Labor Patients
We promised to tell you more about outsourcing your RCM services and the difference it can make for your practice. When you choose RevStream Services for billing Department of Labor patients, we help you focus on patient care by knowing your billing and case management needs are met.
At the same time, our comprehensive understanding of the Department Of Labor (DOL) revenue cycle and how it can be improved for patients, claimants, and providers helps you maximize this additional revenue stream for your practice.
Get Started
If you’re ready to learn more, contact us today! Once you reach out, we will follow up quickly by phone or email. Then, we will gladly share helpful information and answer any questions you might have. Next, it is our turn to ask you questions! This is when we collect practice and provider information to put together a unique service proposal for your practice.
From there, we create a service proposal with your unique needs in mind. Then, once you’re signed up, it’s time to launch and start reaping the ongoing rewards of RCM services for your healthcare practice.