Outsourcing your Revenue Cycle Management (RCM) may feel like a leap into the unknown—but with NewportMed, it’s a streamlined process designed to set your practice up for success.
Taking a structured, step-by-step approach ensures a smooth transition while delivering measurable results. This guide walks you through what to expect during onboarding, from the initial setup to long-term process improvement.
Step 1: Operations (First 30 Days)
The first 30 days are all about setting a solid foundation for success.
- Process Initiation: Transitioning critical data and integrating NewportMed’s systems with your practice workflows.
- Data Input Focus: Collecting and validating patient records, payer information, and historical claims.
- Operation Awareness: Conduct collaborative meetings to align your practice’s goals, challenges, and unique needs.
Communication is the key. We provide you with a single point of contact so you’ll know who to call when you have questions. Regular check-ins ensure a seamless transition.
Step 2: Steady State (30-60 Days)
By the second phase, your RCM operations start to stabilize and optimize.
- Operational Excellence: Refining workflows for seamless collaboration between your team and NewportMed.
- System and Data Validation: Ensuring all systems function correctly and claims are submitted accurately.
- KPI & TAT Targets: Establishing benchmarks for metrics such as denial rates and Turnaround Times (TATs).
You won’t lose visibility into financial operations—as we improve your cash flow with faster processing, your dedicated point of contact keeps you informed through regular updates.
Step 3: Coding & Analytics (90 Days)
At 90 days, NewportMed shifts focus to deeper analysis and optimization.
- Coding Feedback: Identifying errors and improving specialty-specific coding for reduced denials.
- Billing Overview: Analyzing billing practices and payer trends for enhanced claim success.
- Ongoing Monitoring: Providing actionable insights through continuous financial data analysis.
Is RCM outsourcing just about managing claims? NewportMed goes further by providing strategic insights that enhance overall practice performance and efficiency.
Step 4: Process Improvement (120 Days)
The final phase focuses on continuous improvement to maximize your financial outcomes.
- A/R Reduction: Shortening accounts receivable (A/R) cycles to improve cash flow.
- Refining Appeals: Streamlining processes for denied claims to secure additional revenue.
- Actionable Data: Delivering regular, data-driven recommendations to keep your practice thriving.
Outsourcing doesn’t mean autopilot. NewportMed remains a long-term partner, continuously adapting to your evolving needs.
Your Smooth Path to RCM Success
Outsourcing doesn’t have to be overwhelming—NewportMed ensures every step of the onboarding process is designed for clarity, efficiency, and measurable success.
Ready to transform your practice? Visit newportmed.com/connection to learn more about our onboarding process and take the first step toward stress-free financial management.
Picture this: less financial stress, more time for patient care, and a thriving practice. NewportMed makes it possible.