Elite Management Solutions LLC is a professional billing service dedicated to meeting all of the insurance and patient billing needs of your practice. We would like to first welcome you to our company site. At Elite Management Solutions we strive for excellence. We are dedicated to solving your practice needs because we care.

With all that is going on in healthcare today, it can be hard to stay abreast with the changes. With that being said, we are now four months into ICD10. This is the optimal time to assets your current billing and account receivables  to ensure you are get the most out of ICD10 code. With the ICD10 transition you want to make sure your denials and rejections have not increased. You can optimize your revenue cycle management by analyzing reports, performing a coding audit and reviewing your A/R processes.

You can run denial reports on a quarterly basis to look for trends and patterns for why claims are being denied. Some denials can be prevented by simple staff education. Auditing your code against your medical records for accuracy and specificity on a regular basis will also help with this. This should also be done on a quarterly basis to keep it manageable. With the changeover to ICD10 this is an ideal time to do this.

Did you know that medical practices never collect on an estimated 18% of claims. 70% of claims are paid the first time they’re submitted. 30% are either denied (20%) or lost or ignored (10%). 60% of those 30% are never resubmitted to payers. It is advantageous for a practice to keep or with their A/R weekly.

This is where Elite Management Solutions would like to help. Give us a call or contact us here and let us see how we can improve your revenue cycle.