Billing and Collections
Can RBS help ensure I am capturing codes for all procedures performed?
RBS utilizes the billing management software which links directly to your linear accelerator and/or chemotherapy inventory. After radiation treatment or a drug is administered, the billing software updates the patient's charge history - which is audited daily by our team to ensure acceptability and reimbursement by the patient's specific insurance company PRIOR to charges billed.
This link between treatment administered and charges captured virtually eliminates human error and the possibility of over/under charging.
How often will RBS bill charges and post payments to accounts?
Charges are audited and billed electronically within 24 hours of service, and payments are posted to accounts the same day as remittance advices are received. This allows our team to supply your practice with real time financial data and analysis.
Will RBS be able to help collect on our existing accounts?
RBS takes the most cost effective and beneficial approach for your practice. RBS will take over the reimbursement function on a specific date while the existing billing team concurrently works old accounts. This approach maximizes cash flow for your practice.
Security, HIPAA Compliance and Auditing
Can RBS help analyze the current state of my financial processes?
RBS has developed a Key Indicator Survey, which allows us to quickly analyze the success of your current financial process. We then provide a specific action plan to help you implement the changes needed to address any areas that require improvement.
How will geographical distance between my practice and RBS affect results, communication of information and security of information transfer?
Our HIPAA-secure platform utilizes the latest and greatest security and technology to eliminate the barriers once faced by distance. This allows for real-time sharing and communication of information between your office and our team. RBS operates like an in-house financial team and acts as an extension of your practice. With the technology in place, our people and processes drive your results beyond an internal billing team.
What IT implications are there when switching to RBS?
We integrate and manage an always up-to-date cloud-based latest revenue cycle software around your practice. This software is specifically designed for and understands the complex nuances associated with specialty care financial workflows and billing.
Radiation Business Solutions Compared to In-house Billing Departments & Other Financial Service Groups
How does RBS differ from an in-house billing department and other financial service groups?
At Radiation Business Solutions, our number one focus is patient satisfaction through your financial success. Without the day to day interruptions of running a physician practice, our team is able to devote 100% of our energy and time in driving the financial success of your practice. As a full financial service company, we have the ability to supply real time financial data and analysis.
What financial reporting and data analysis can RBS offer? Is RBS able to create custom reports?
Our expertise combined with the use of Crystal Reporting and the IMPAC software can bring you such reports as:
- Revenue projection within 2% of actual
- Revenue by Referring Physician and account aging by Referring Physician
- CPT code usage by diagnosis, physician, location, etc.
- Accounting and Financial statements
- Other reports available as requested; may be subject to an additional fee
What other services can RBS offer besides financial services?
Our team is richly diverse in all aspects of healthcare management, extending our expertise to your practice in:
- Coding Services
- Consulting Services
- Revenue Cycle Audits
- Managed Care Contracting
- Marketing Strategy
- Management Solutions
- Front Office Training and Management
- New Provider Enrollment and Credentialing
- HIPAA Compliance and Consultation
- Accounting and Financial Statements
- Payroll Setup and Management
- New Center Development
- Interim Practice Management
- Physician Recruitment
- Radiation Oncology Recruitment
Cost Benefit
How will a change to RBS affect my employee overhead costs?
We understand that every practice is unique. A partnership with Radiation Business Solutions allows you to make the most of your employees’ time for the success of your practice. With access to technology, expertise and other resources, RBS is able to maximize your return on investment.
What impact will Radiation Business Solutions have on the overall satisfaction of my patients’ care?
Through our proactive processes, we work with your office to ensure ALL patient information and authorizations are in place prior to the patient's initial visit - minimizing patient wait time and increasing financial awareness and responsibility prior to start of treatment. We also supply ongoing financial counseling support throughout the course of treatment. RBS helps alleviate patient financial pressure and stress associated with radiation treatment, and increases overall patient satisfaction with your practice.
Will I be charged on a per claim basis, a percent of collections, or both?
Radiation Business Solutions charges a flat percentage of collections depending on the size and make up of your practice. There are no additional charges per electronic claim or paper claim sent - unlike many third party groups. In every instance, our platform has significantly reduced the total cost of billing for our clients. Our success is directly linked to your success.