Autonomous of accounting or billing, claims processing is the part of the revenue cycle where claims for reimbursement sent from a provider to a payer are taken in, verified, and paid.  As the healthcare system continues its transition to digital systems, electronic claims processing has become a much larger component of the industry. Long awaited efficiencies have come as promised as more and more health data become cloud-based, enabling providers and payers to access the same data instantaneously.
A new report from Black Book research finds that many Revenue Management Cycle platforms – some which are more than a decade old – are missing the advanced functionality needed to meet the demands of new reimbursement models. As healthcare leaders take stock of new financial software, much of which is still in evolving as details of value-based payments continue to come into focus, many are turning to outsourced services in the interim.
As hospitals and physician practices grapple with intense pressure to optimize revenue cycle management processes, many are outsourcing their medical billing to eChrysalis, Inc. which has emerged as a powerful solution to the challenges of a rapidly changing healthcare model.
eChrysalis’ Revenue Cycle Management Service manages the medical practice revenue cycles and provides consultative services to improve practice management operations and cash flow. Our service relieves the practice staff of monotonous claim adjudication processes, and significantly increases practice's bottom line.  eChrysalis, not only frees office staff to focus on scheduling office procedures, surgeries, obtaining authorizations and administering healthcare, but also maximizes the return from insurance carriers, and improves the operation’s processes and patient experience