Practices that use the NextGen Revenue Cycle Management solution see an 81% decrease in A/R days and achieve net collections of close to 98%. The solution’s first pass claim rate is as high as 97% and overall revenue increases by about 4%. The software offers a unified billing and collection service that takes over revenue collection while the practice can concentrate on handling their patients. Even regulatory issues are simplified. A large number of medical practices trust NextGen with their medical billing and collections and have commented positively on the advantages they have gained.
The benefits of using the NextGen RCM start even before medical practices begin using the solution. NextGen credentialing processes simplify provider enrollment and take these complex tasks away from the practice. A professional approach to credentialing saves money, time and malpractice suits that may arise due to incorrect credentialing.
Many medical practices struggle with the rising costs of running a practice and with frequent turnover of administrative staff. NextGen minimizes operating costs with their billing services and practices no longer have to worry about staffing issues. All critical billing work is handled by NextGen with well qualified and experienced staff that understands billing and coding and can customize the solution to meet any specific requirements your practice may have.
Fees are based on a fixed percentage model that ensures that NextGen only gets paid out of the revenue that the practice generates. This provides comfort that no cash outflow occurs from the practice just because a billing service has been contracted.
The NextGen RCM solution integrates with all NextGen products as well as with any third-party tool your practice may be using. The solution is fully certified for Meaningful Use Stage II and supports ICD-10. . The solution is cloud based, implying that users do not have to procure any additional hardware to run it. In addition, any other regulatory changes will be implemented by the solution team and users will not be required to take any actions to upgrade their solution.
Given the challenges, I hesitate to recommend this company or its software, especially when there are comparable options with superior features at similar price points.
When considering this healthcare, be patient with the benefit approval process. On the positive side, the coverage for most co-pays is noteworthy.
The Average Wheelhouse score for the Medical Practice Management category is 8.2
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