In today’s healthcare landscape, the effective management of the revenue cycle is more crucial than ever. Wflair, a distinguished provider of virtual talents specializing in Revenue Cycle Management (RCM) services, offers a unique solution to address the challenges faced by medical practices.
Amid the ongoing COVID-19 pandemic, which has resulted in a decline in patient traffic and payments, healthcare professionals are reevaluating their RCM strategies. If your current in-house revenue cycle management setup could benefit from enhanced efficiency, now is the ideal time to explore the advantages of leveraging Wflair’s high-quality virtual employees.
Costs Extend Beyond Finances to Time and Effort
Wflair understands that many medical practices prefer to enhance their core competencies by directing staff energy away from the complexities of billing to focus on patient care. Considering the substantial staff attention required for various billing tasks, the option of incorporating Wflair’s virtual employees becomes particularly appealing. Wflair excels in efficiently handling key RCM tasks, including insurance verification, patient demographics entry, charge entry, claim submission, payment posting, follow-ups, denial management, and reporting.
Pricing Concerns and the Potential for Revenue Boost
While concerns about the cost of outsourcing billing may arise, Wflair’s virtual employees prove to be a cost-effective and high-quality solution. Internal billing departments come with various expenses, including salaries, healthcare, taxes, training, and ancillary office costs. Outsourcing to Wflair not only ensures more accurate and efficient billing but also has the potential to increase revenue significantly.
Calculating the Costs of Leveraging Wflair’s Virtual RCM Workforce
Wflair’s transparent pricing model ensures that healthcare organizations fully understand the value they receive. Losses from denied medical billing claims and patient missed payment deadlines amount to $125 billion annually. Wflair’s fees, which may include administrative costs, vary based on the size of the practice and patient volume. Whether opting for flat fees or a percentage of collected revenue, the goal is to increase income by reducing the percentage of unpaid claims.
Comparing in-house processing costs to leveraging Wflair’s virtual workforce reveals significant savings. Wflair’s expertise in RCM services ensures a higher collection rate compared to in-house processing, leading to a substantial net gain for healthcare organizations. Additionally, the reduced employee turnover and continuous training of Wflair’s virtual workforce contribute to long-term efficiency.
Preparing to Leverage Wflair’s Virtual RCM Workforce
With over four decades of experience, Wflair, through its MedicsRCM platform, has assisted numerous healthcare organizations in seamlessly incorporating virtual employees into their RCM processes. MedicsRCM pricing, based on a percentage of the amount collected, is designed to align with the unique needs of each client.
The decision to leverage Wflair’s virtual workforce for your healthcare practice’s insurance billing warrants careful consideration. The potential improvements in the bottom line, coupled with the expertise and reliability of Wflair’s virtual employees, make it a strategic move to secure your practice’s financial future. Explore the comprehensive insights in our free ebook, “From In-House to Wflair’s Virtual RCM Workforce: Everything You Need to Know,” to guide your decision-making process effectively.