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Revenue Cycle Management Q&As
Choosing the right Revenue Cycle Management (RCM) partner is a critical decision for any healthcare practice. The questions below help evaluate an RCM vendor’s expertise, transparency, and ability to optimize your revenue cycle. By asking these key questions, you can assess whether a provider—like BlueFish Medical—offers the technology, support, and strategic approach needed to improve cash flow, reduce denials, and maximize reimbursements.
Does the candidate vendor outsource or offshore any portion of their business to overseas vendors?
BlueFish Medical emphasizes the importance of utilizing a domestic labor force due to the myriad challenges posed by offshore labor, such as language barriers and training deficiencies, ultimately impacting service quality. Offshoring by revenue cycle management services vendors prioritizes profit over quality, while investing in a skilled and motivated U.S. labor force ensures higher performance standards for long-term business success.
What KPI reports do they provide monthly?
While many revenue cycle management services vendors neglect monthly KPI reporting and customer training, BlueFish Medical prioritizes informed clients for satisfaction. We offer comprehensive monthly KPIs, management reports, and consulting to track metrics, RVU earnings, and peer comparisons, ensuring transparency and client empowerment.
How much experience does the vendor have serving customers in your particular specialty?
Specialty experience matters; inquire about your candidate vendor’s track record with similar practices. At BlueFish Medical, our nearly 50 years of combined healthcare experience sets us apart, ensuring expert support for your specialty needs.
What performance guarantee does the vendor offer?
We offer the BlueFish Medical Performance Guarantee for our revenue cycle management services clients, promising minimal rejected, denied, and appealed claims. If we surpass agreed-upon claim thresholds or maximum ages, we credit your next bill. Ask your current vendor about their guarantee, and expect silence in response!
Does the vendor provide adequate analysis of key performance data and regular help developing action plans to improve results?
BlueFish Medical provides detailed management and consulting reports to help practices improve results, offering analysis and actionable suggestions for the next reporting period, along with monthly calls to develop plans for enhancing financial outcomes. Continuous improvement is key at BlueFish Medical for achieving better financial results.
Even though our Accounts Receivable (AR) has always been well maintained by BlueFish Medical, our practice has never had the mindset of turning over our AR Collections to a vendor and then taking a passive role. My partner and I closely monitor our claims, but if we ever have a question about a claim, we usually find that BlueFish has already taken action. They are truly our partner in the management of our practice and not just another vendor.
Every month, BlueFish Medical provides us with great data and insights, including Key Performance Indicator (KPI) measurements, RVU totals, and AR and Aging analysis. This gives us an overall picture of the financial health of our practice and helps identify areas for improvement.
Learn More About Revenue Cycle Management
28 February, 2025
07 February, 2020
