Optometry RCM Expertise Across the Eyecare Industry
No Matter Your Practice Setting, RevCycle Partners Can Address your RCM Challenges
Our experience in nearly every type of optometry practice setting gives our team an expertise that benefits your practice, no matter the size or focus. We’ve partnered with eyecare practices in a variety of optometry practice settings and relieved the stress of inefficiency, staff turnover, and cash tied up in aging claims.
Optometry Practice Settings We Serve:
Local Private Practices
Local private practices form the core of RevCycle Partners’ customer base. We serve a range of private practices: from solo practitioners with a small staff wearing multiple hats to large multi-location, multi-provider practices with a full-time practice administrator and specialized staff roles.
Our private practice customers have varied focuses. Most have a significant medical component to their practice in conjunction with an optical dispensary. RevCycle Partners serves practices with specialties such as vision therapy, medically necessary contacts, surgery co-management, dry eye, DME, and more.
Our customers participate with a wide range of insurance payers based on their geography, patient demographic, and practice strategy.
Private practices come to us with a wide range of needs. Staff turnover, growth challenges, lack of expertise in a certain area, short term projects as well as long term strategic needs, practice transitions – all drive practices to work with RevCycle Partners.
The optometry industry is changing with the influx of private equity (PE) investors. Practices are being acquired and consolidated as investors seek to scale.
Growth through acquisition produces significant operational challenges to the parent organization. Practice acquisitions and rapid provider hiring create a never-ending set of credentialing work. Transitioning the acquired practice to a standard software platform adds stress for the acquired staff. Not only must staff learn a new software platform, they must continue to work the AR on the old platform.
Staff turnover at the practice level is not uncommon for aggregators, leading to more RCM challenges.
RevCycle works with both national and regional practice aggregators. The types of projects and on-going services we take on depend on how the parent organization has structured its RCM team. Whether it’s billing for a set of locations, credentialing for every new acquisition, providing AR cleanup projects after software transitions, or working custom projects – we strive to assist our partners in the various needs which their growth demands.
Cold Start Practices
Opening a cold start practice is an exhilarating venture. But it is also nerve racking.
When you’re in start-up mode, there are a thousand little details that vie for your attention. ODs taking on this challenge will, by definition, be dealing with topics they have not taken on before – that’s part of “the fun.”
With cold start practices, however, it’s easy to let details slip, simply because there is so much to do. One area that often suffers is RCM. Timing is everything.
Credentialing is a key area RevCycle Partners assists with for cold starts. Getting properly credentialed in a timely manner helps avoid billing issues and cash flow delays in those critical early months. Utilizing an outsourced partner to handle billing tasks can delay the need for hiring full time staff and allows the doctor and small staff to focus on more important patient facing activities.
The landscape for doctors preferring to practice in a corporate affiliate setting continues to expand. While running an independent practice inside an established retail location may look a little different than operating out of an independent brick and mortar, the focus is the same: great patient care.
And the RCM challenges are similar too – aging claims, credentialing issues, claim denials, keeping up with the EOB posting. The corporate affiliate doctor often practices with a small staff making these tasks a bit more challenging. They often fall to the doctor to take care of.
RevCycle works with corporate affiliated ODs in a wide variety of corporate environments, including Lenscrafters, VisionWorks, Walmart, Target, Costco, and Sam’s Club.
Schools of Optometry
It’s a privilege to work with an optometry school given they are creating the next generation of eyecare providers. Clinics run by a school of optometry have similar RCM needs to those of other eyecare practices. But they often are large, high-volume clinics with increasing billing complexities.
A university healthcare setting is fundamentally multi-discipline and often requires back-office coordination with a campus hospital and other clinics. Also, in learning environments, student doctors often make billing mistakes. Extra focus placed on claim scrubbing and providing feedback at an aggregated level can assist the school in educating its students.
RevCycle Partners crafts custom solutions to fit the unique needs of schools of optometry.
Nursing Home Practices
With the elderly population rapidly growing, many optometrists are extending their practices to provide optometric care in nursing homes. Others are opening practices with the sole focus of serving this community.
For many optometrists it’s not just an opportunity. It is a calling.
ODs with a nursing-home only practice typically do not have a brick-and-mortar setting and often have limited staff. RevCycle Partners enables these practices to have access to billing experts to handle the complexities of Medicare and Medicaid billing. RevCycle can scale its resources to meet the growth needs of these practices.
Revenue Cycle Management Services for Your Optometry Practice
RevCycle Partners provides revenue cycle management services for optometry practices in a variety of practice settings.
Does your practice need relief from the ongoing demands of revenue cycle management?