MIMIC IT
Revenue Cycle Management
Mimic IT is your trusted partner when it comes to Revenue Cycle Management (RCM). This widely used process is prominent in the healthcare industry and is used to manage financial operations connected to billing and collecting revenue for medical services. RCM begins when a patient schedules their first appointment and it concludes when the final balance is resolved through insurance payments, patient payments, and everything in-between.
RCM can be a difficult thing to manage for those who do not have significant experience in this field. Fortunately, our team at Mimic IT is here to assist. Our experts will provide highly effective RCM strategies and support to give your organization everything you need to be successful. Also, our team at Mimic IT will work with you to create customized solutions that are sure to keep all patient information organized and secure.
What You Can Expect from Mimic IT
At Mimic IT, we understand the balance of delivering premium patient care while still maintaining the financial health of your medical practice. That’s why we provide RCM solutions that are tailored to your specific needs. With cutting-edge technology and top industry practices, we provide efficiency and accuracy every step of the way.
We provide the following benefits:
RCM solutions can make for your organization.
Import and Validate Bulk
Electronic Payments
Hundreds of Electronic Remittance Advice (ERA) payments can be submitted and imported into a specific management software on a nightly basis. Some payments are ready to validate while others must be manually validated. A well-designed automation can securely remote into the client’s environment, login, and submit all payments that have been validated. This allows users to focus on anomalies and incomplete transactions, which can be re-imported once completed for automated validation.
Pre-Authorization/Validate
Medical Coverage
Certain employees must validate Medicare or Medicaid coverage on an external website to verify coverage for an insured. Mimic IT can make this process easier by gathering a list of patients to lookup, logging in to the appropriate website, and retrieving the proper coverage details. This will help users quickly locate important information, such as start/end dates and coverage type.
Retrieve/Review Visit Notes
Some medical visits require the use of anesthesia, which should always be indicated on the patient’s chart. Employees must manually review the chart notes to determine if and how much anesthesia was used. With Mimic IT’s advanced solutions can automatically review the chart notes for specific keywords and determine which patients used anesthesia during their visit. By capturing this information, employee time and effort can be saved for other tasks that require more manual effort.
Catching Standard Denials
Medical claims are often denied due to missing information, incomplete information, and missing documents. This dilemma often results in a back-and-forth process between the insured and the person trying to process the transaction or claim. Finalizing all the details can often take weeks; fortunately, Mimic IT can quickly help determine why the claim is denied before it is submitted to the insurance company. The claim can be flagged for human review before it is officially submitted. This often results in more accurate claims and timely payments.
