Health Care Revenue Logic, LLC (HCRL) has been established to assist
physician practices who are faced with daunting challenges in the current and evolving
health care environment. Revenue cycle management is the heart of a Physician
Practice. The ability to cover expenses and meet the physician income expectations
is continually strained by the pressures of today's economic climate as it relates
to reimbursement and the ever-expanding costs of resources to do business. The
commitment of our team is to focus on providing the best possible management
services and on-going education to the providers and their staff engaged in any
component of the revenue cycle with a focus on cost containment and revenue cycle
To refine the revenue cycle healthcare leaders need new levels of analytical tools to quickly identify problem areas, establish strategic plans for process improvements and to be able to respond immediately as business situations fluctuate.
Our team takes a comprehensive approach that evaluates, improves, and manages all components of the revenue cycle to help physicians create a simplified, integrated workflow design that will optimize and expedite reimbursement in the physician practice.
While many billing services currently exist to manage medical practices, typically these services relieve medical professionals of tedious detail work, but rarely do they offer a means to substantially maximize the practice's bottom line. HCRL will not only free office staff for more crucial tasks, but will also maximize return from insurance carriers. Statistics show turnaround time on an outdated practice management system could be 30, 60 or even 90 days, creating seriously aged outstanding receivables for a medical practice. Submitting claims electronically through a "state of the art" practice management system that not only transmits your claims, but evaluates claims for correct coding edits prior to submission, will significantly reduce claim rejections, reduce outstanding receivables, and tremendously improve cash flow.
Historically, physicians graduated from medical school with the goal of establishing and running their own "practice." Many basic administrative procedures were overlooked or they embarked on this with little to no formal business training and thus were ill-equipped to truly run a business enterprise. Examples of such are:
For many offices, outstanding receivables grew tremendously and large bad-debt write offs became routine. Inadequate profit margins allowed medical practices to ignore sound business procedures. Medical practice complacency toward industry change is a luxury of the past. With the introduction of current and future Accountable Care and modified Manage Care Organizations into the industry, physicians are finding profit margins shrinking. They are now keenly aware that in order to remain in business they will have to adopt more efficient business practices. HCRL is prepared to assist local health care providers' transition to more effectively run practices that will optimize business success and, in turn, enhance quality health care for their patients and communities.
811 Redgate Avenue
Norfolk, Virginia 23507