Maximize Reimbursement while Reducing Overall Costs
Revenue Cycle Management Services
At your service
For over 50 years, Kovo RCM has set the standard in revenue cycle management services. By joining our expert team, you partner with professionals dedicated to optimizing your revenue cycle. See why countless healthcare providers trust us to handle their medical billing with excellence and reliability.
Personal Service
From scheduling to zeroing claim balances, Kovo RCM delivers unmatched professional revenue cycle management. Furthermore, this includes eligibility verification, accurate patient data collection, and full medical billing support.
Forward Thinking
With new payment plans and the shift to pay-for-value models, revenue cycle management now demands advanced skills. Additionally, care providers face increasing financial risk from evolving payor mixes and methodologies.
Robust Technologies
MACRA, MIPS, APMs, P4P, ACOs, E-Prescribing, EHR meaningful use, and capitation are now key components of successful revenue strategies. Furthermore, advanced technologies and analytics are essential tools for effective management.
Revenue Cycle Management Services We Offer
Revenue Cycle Management
From appointment scheduling through zeroing out claim balances, Kovo RCM Services delivers professional revenue cycle management (RCM) with personal service.
Read More
We work with our providers to verify eligibility and accurately collect all necessary patient information. Additionally, we manage every step of the medical billing process.
New third-party payment plans are emerging as the healthcare industry shifts from traditional fee-for-service to pay-for-value models. As a result, successful revenue cycle management now demands a more complex skill set.
Consequently, conventional revenue streams are being replaced by more complex payor mixes and payment methodologies. Many of these models shift the financial risk of providing care from payors to physicians.
For example, MACRA, MIPS, and alternative payment models (APMs) are increasingly important in shaping a healthy revenue structure. Other key elements include pay-for-performance (P4P), accountable care organizations (ACOs), E-Prescribing, EHR meaningful use, and capitation. Together, these components are transforming how revenue is generated and managed in healthcare.
Therefore, new and robust technologies and analysis tools are now considered standard equipment for smart managers.
Give us a call or send us a message. Let’s discuss how Kovo RCM can help you thrive in these changing environments.
Status is a comprehensive application for claims management, submission, and remittance that integrates with our Revenue Cycle Management (RCM) suite.
It provides higher first-pass acceptance rates, faster delivery to payers, and superior denial management. This is achieved by detailing each event within a claim’s lifecycle.
Using Status, we quickly identify problem claims and take steps to ensure timely processing.
We monitor the medical claim throughout its lifecycle. Our automatic follow-up tools help billing specialists resolve claim denials and payer issues, supporting our revenue cycle management process.
Credentialing. Just the mention of the word can strike fear in to the hearts of your back office staff, yet credentialing can make or break a practice. Good credentialing that is complete, accurate, and up to date means clean claims will be paid. Bad credentialing can mean a complete stall of revenue from the associated payors, no matter how timely and accurate the billing.
If your office is struggling with a credentialing back log, call Kovo RCM today. Our practice management staff offers credentialing services to lighten your paperwork and ensure quick claim payments.
Payor contracting is a difficult and often one-sided proposition. Insurance companies have access to extensive data, including your fee schedule and reimbursement information. They also possess similar data for all of your colleagues and competitors.
Our revenue cycle management analysis tools equip independent physicians with the information needed to negotiate third-party payor contracts effectively. These tools provide accurate reimbursement data for all of your payors across any CPT code.
With over 50 years of experience providing practice management software and medical billing services, we have gained invaluable expertise. We understand the complex environment in which our clients operate.
We are not just a medical billing service; we are experts in healthcare revenue cycle management. By analyzing your data, we offer valuable insights to help you make informed business decisions for your practice.
Our comprehensive approach to practice management is often the difference maker between moderate success and a truly thriving practice.
High patient co-pays and deductibles are shifting financial risk to providers. We prioritize creating easy-to-read statements to simplify the payment process for your patients.
We offer solutions such as online bill pay, HSA payments, credit card acceptance, and payment plans. These options are designed to make paying for services as convenient as possible.
RCM Practice Metrics and Analysis
Kovo RCM is more than a medical billing company. After nearly 50 years in practice management, we have developed a deep understanding of how successful practices operate.
Furthermore, we know the critical information physicians and managers need to make informed decisions for their practice.
Read More
We mine data from multiple sources such as our billing system, your EHR, clearinghouse data, and 835 electronic remittance advice. Moreover, we go beyond standard end-of-month reporting and dig deep for the practice intelligence you need to thrive.
Knowing what to charge for your medical services can be a shot in the dark. Our practice management consulting team can perform a fee schedule analysis for your practice. Additionally, we provide valuable insights into how your fees compare to Medicare and other payors.
Our practice management experts help you make sense of the data using long term trends analysis reporting. Examples include Five Year Modality Trends by Charges, Payments and Allowances (Radiology) and Long Term Payor/CPT analysis.
Don't see the information you need in our scores of on-demand and end-of-month reports? As your data company we can create the exact report you need to make informed decisions about your practice.
At your request, our team of IT and programming professionals can create custom reports tailored to your needs. These reports can address either ongoing information requirements or one-time analysis.
We will do everything we can to provide valuable data and meaningful analysis to our clients!
Additionally, our Client Portal provides dozens of configurable reports and charts that show data using user selected criteria.
Medical Coding and Compliance Program
The Kovo RCM team was, notably, instituting corporate compliance programs long before it was a standard industry practice.
Read More
Through proven programs and approaches, we provide confidence to our clients that they are protected against abuse and fraud.
All physician dictated reports are reviewed for accuracy. Routine audits are performed by our in-house certified medical coders. These audits ensure that coding errors are eliminated and maximum payment is received for services rendered.
Client accounts are audited from point of entry through the final payment.
At Kovo RCM, you can be assured that we follow the highest code of ethics. Our compliance program protocol includes:
- Confidentiality agreements with all employees
- Secure off-site and electronic data storage
- HIPAA Compliance and HITECH Compliance
- Data Encryption Secure firewalls
- Timely refunds Payment posting verification
- Regular medical coding reviews
- Routine internal audits
- Mandatory employee training in compliance programs - including regular compliance meetings
The complexities of medical coding are increasing and payers are requiring finer and finer specificity.
The Certified Professional Coders (CPC) at Kovo RCM can provide physician education and expert advice for your medical coding needs. They also verify that your ICD-10 coding accurately represents your dictated record.
At Kovo RCM, we take pride in our strong relationships with physicians. They trust us as their single source for practice management services.
Kovo RCM is committed to the highest standards of medical coding certification. All of our medical coders carry professional medical coding certification including membership in AHIMA®, the American Health Information Management Association.
Client Portal
The Kovo RCM secure Client Portal ultimately provides our clients the information they need, when they need it.
Each month you receive a comprehensive set of EOM reports detailing valuable information about your practice in graphical and column formats. Our standard package can be augmented with custom reports to fulfill your specific information needs. A typical month-end report suite includes:
- Overall A/R
- Transaction Analysis
- Units of Service (broken by provider and location)
- Charges by Referring Physician
- Original Payor Production
In addition to EOM reports, our clients enjoy access to a host of powerful on-demand reports through our client portal. On-demand portal reports provide a deeper look at what's behind the EOM numbers and snap shots of daily and month to date activity. On-demand reports include:
- 12 Month A/R Analysis
- Charge Volume by DOS
- Claim Adjustment/Denial Reason Breakdown
- Collection Analysis
- Current A/R by Location
- Current Insurance Aged A/R
- Daily Transactions for Billing Month
- Location MTD/YTD Production Report
- Location Charges and Payments Graphs
- Modality Reports (Radiology)
- Payor Transaction Analysis Reports and Graphs
- Provider Statistical Production and Analysis
- Top 50 Diagnosis Codes
- Top CPT Usage
HIPAA and HITECH mandates demand safeguards for protecting PHI. Our client Document Vault provides a compliant, secure repository for sharing reports, spreadsheets, EOB images, ect. - anything that would include PHI or practice sensitive information - and allows clients to access it from anywhere.
We maintain a complete history of all ERAs that come to us, allowing our clients to review EOBs at any time, for any date.
Advanced Billing Technology (Turning Data into Dollars)
Essentially, smart revenue cycle management is about using your data to obtain optimum reimbursement.
Read More
As your data company, we’ll help you discover long-term trends and analyze practice metrics, statistics, and key performance indicators. Ultimately, we provide you with the knowledge you need to make sound decisions.
Because EHR systems collect diagnosis and CPT information as part of the medical record, many EHR vendors have incorporated modest medical billing modules into their systems. The logic is simple enough, and these "bare bones" systems seem like a natural outgrowth of collecting diagnosis and CPT data. However, experienced practice managers know that effective medical billing and revenue cycle management (RCM) goes far beyond producing an electronic claim file.
Kovo RCM is working with several EHR vendors to integrate patient demographic and medical coding data with Kovo RCM Suite. Using standard HL7 interfaces, data necessary for billing is captured to the Kovo RCM software where medical billing specialists eye the data and the process of claims filing and accounts receivable management begins. EHR end-users need not touch the billing process at all, and the seamless flow of charge data keeps revenue cycle management in the hands of committed professionals.
There is a prevailing myth that new technologies are making all data easily portable and that data accessibility happens like magic. Not true.
In real life, portability of healthcare data only happens when skilled HL7 programmers make it happen. The programming team at Kovo RCM will interface or import patient demographics, dictation, patient appointments, or integrate with your electronic health records (EHR) system to keep your data moving.
One of the most significant advantages of working with Kovo RCM comes from the fact that our medical billing software has been developed in-house and is continually refined. That means we are able to produce custom reports and analytical data for our clients when they need them.
Additionally, our easy to use Client Portal provides you with a wide range of On-Demand Reports, End-of-Month Reports, Applications, News, and other useful information. Many of these are available as a report, chart, pdf, or spreadsheet.
Don't see the information you need in our scores of on-demand and end-of-month reports? As your data company, we can create the exact report you need to make informed decisions about your practice.
At your request our team of IT and programming professionals can create custom reports to meet either on-going information requirements or one-time analysis. We will do everything we can to provide valuable data and meaningful analysis to our clients!
Additionally, our Client Portal provides dozens of configurable reports and charts that show data using user-selected criteria.
Solutions that Fit You and Your Team