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Revenue Cycle Management for Specialty Practices

All medical practices need to collect the income they are due to keep a positive revenue flow. However, in today’s complex healthcare landscape, ensuring you get paid correctly and on time is not a simple task. 

Specialty practices must align financial strategy, operations, and technology for effective and efficient revenue cycle management, ensuring correct and timely payment. 

Inefficient Revenue Cycle Management Costs More Than Money

Many physicians outsource their billing, hoping to ease administrative burdens and relieve headaches caused by complicated payer requirements. However, partnering with the wrong RCM provider can cost your practice in the long run. 

Contract creep from billers subtly introducing new charges under the guise of ‘enhancing outcomes,’ which quickly add up.
Inaccuracy increases administrative burden as your staff time is diverted to address inaccuracies caused by a billing partner (whom you ultimately hired to decrease these issues).
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Data blindness by not having clear insights to spot revenue leaks or inefficiencies. Your access to data is crucial for understanding past performance and shaping your future.

As healthcare evolves and billing requirements change, managing and understanding your financial success can feel overwhelming. By working with a revenue cycle management expert, you’ll be armed with the knowledge to fully understand the financial health of your practice.

We're here to help you build and strengthen your specialty practice to handle the future of healthcare.

Effective RCM Requires Cross-Practice Alignment

Traditional models of third-party outsourced billing providers and software-only solutions are inherently broken. Revenue shouldn’t be separated from your business operations and most out-of-the-box RCM solutions won’t have the tools needed to support your specialty-specific needs. We help our clients with their revenue cycle management by aligning across: 

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Strategy

Our expertise with specialty physicians and partnerships with payers gives us a comprehensive understanding of the healthcare landscape. This makes us uniquely positioned to understand the financial needs of your practice as we work with you to develop a strategy to meet your goals.  

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Technology

Our cloud-based solutions and dashboards let you know how your practice finances are doing in real-time including claims tracking, denial and rejection analysis, and custom reporting.

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Operations

Optimizing practice operations to support financial goals requires additional expertise not typically offered by traditional RCM companies. We work directly with your team to make sure everything is running smoothly.

Technology + Expertise

We support practices with a comprehensive approach to analyzing and maximizing practice opportunities. 

Data-Backed Solutions

Medical practice RCM solutions are a critical piece of practice infrastructure. We work with you to understand what you need operationally and then build a tech stack that works for you. We don’t just drop you with an out-of-the-box one-size-fits-all solution. We take a pragmatic approach to determining what you need based on the data you do (or don’t) currently have access to and understanding where you need to go from there. 

Building Your Strategy

Your practice finances are not something you should have to worry about in your day-to-day, and you should always be able to know where you stand. We collaborate with you to understand where your practice is now and where you want to be in the future. We combine your institutional knowledge about your practice with our expertise to develop a long-term strategy to strengthen your practice for the future.

QComplete: Everything You Need for RCM and More

TRIARQ Health's cloud-based RCM solutions are just one way we support specialty independent practices. Our comprehensive QComplete platform emphasizes automation and integration to streamline operations with outside payers and partners. It includes specific tools for revenue cycle management and a team dedicated to you. 

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Comprehensive dashboards with real-time data, claims, tracking, custom reporting, and more.
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Ongoing operational optimization to uncover new ways to expand automation, streamline workflows, and increase revenue.
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Non-Clinical practice administration to take some of the existing healthcare process headaches off your plate.
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Patient payment tools to streamline your collections of co-pays and patient responsibility payments.
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Prior authorization management, billing, and coding.  

At TRIARQ Health, we're committed to helping specialty practices get paid accurately and on time so they can focus on their patients

Want to know where you stand with providers and how the key components of your practice are impacting your finances?

Find out with a Comprehensive Practice Assessment that includes a clear roadmap for optimizing your practice's operations, understanding the competitive market, and identifying growth opportunities such as value-based care models.