In The News

Is outsourcing to a revenue cycle management company right for your practice? This is a question that can be heard throughout the country. Our goal here at SyMed Corporation is to help you make an informed decision. In this article we will outline the benefits of outsourcing to a revenue cycle management company and describe in detail how outsourcing can help increase your revenue and time for patient care.

• Better accuracy with claims keyed. The billing staff is made up of professionals with years of experience and knowledge.
• Staff are not distracted or pulled from their desks to check in patients or take vitals like they might be if you had your internal staff juggling multiple duties such as billing and patient care. This insures uninterrupted focus and caution when entering patient demographics and charges.
• Up to date technology used to process claims. Some companies like SyMed Corporation even use software that was specifically developed by their company for their company (ClaimsManager Pro)!
• Claims are released more frequently, there by keeping your revenue flowing!  Billing companies typically release claims electronically daily.
• Combined knowledge of the billing staff. This often includes data entry billers, accounts receivable specialist, certified coders all in addition to administrative staff and managers to oversee that it all runs smoothly.
• Frequent account analysis’ to recognize issues such as coding and reimbursement errors early through reports tailored to fit your practice. By catching issues early, they can be corrected and resubmitted quickly to maximize your profits.

A concern your practice might have with outsourcing is the feeling of lack of control. You send your billing off to an entity outside of your own walls and your comfort level may not be as at ease with trusting another company to manage your source of revenue.  But fear not, clearly the positive aspects noted above outweigh the concerns. There is added security provided when it comes to your finances when outsourcing since you have a second set of eyes checking to make sure everything balances, if there are inconsistencies they will be caught early ensuring there is no fraud.  For more information on how SyMed Corporation can help increase your cash flow and time for patient care please contact us at (707) 255-3300.

SyMed is in production in the ASC 837 v5010A1 electronic claim format! Our software ClaimsManager , ClaimsManager Pro and TripManager Pro, approved for ASC X12 837 Health Care Claim version 5010A1 Errata Medicare EMC capabilities to submit claims to Medicare J1 Part B as early as last April, is in general released and on the Part B Approved 5010 Errata Vendors list.  

 Check us out on the 5010 Vendor List:

 5010 Vendor List

 5010 Questions? CustomerService@SyMedCorporation.com

SyMed is 5010 ready and now our revenue management software SyMed’s Manager Suite is available to all support customers and for purchase for all those needing the new 5010 billing format. We have tested with all our partners and are ready to offer the software to our customers. If you are a support customer you can call in and schedule an upgrade to be performed by our support personnel. If you do not have a support agreement or are a new customer you can call in and make arrangements to get the new 5010 version of the software. Don’t be late to the game. Medicare and most other commercial insurances are requiring you to use the new 5010 format as early as January 1st, 2012.

SyMed’s award winning PcDoc software is 5010 ready and with this release we are also changing the name of the software. Previously PcDoc came in three versions. There was SE our single practice edition; XE our Transportation Edition and BSE our Billing Service Edition. Now it is time to unveil SyMed’s Manager Suite our Revenue Management Software package. Manager Suite has the same three different versions as before, but all have had a name change.
SE is now Claims Manager our light weight introductory revenue management software package. This is an entry level software package that has everything you need to do medical billing. The software is inexpensive to acquire requiring only a monthly lease fee to use.
XE is now Trip Manager Pro a fully featured revenue management software package specifically designed for NEMT or BLS revenue management.
BSE is now Claims Manager Pro our most complete revenue management system. Claims Manager Pro can handle all your revenue management needs and it can grow with you. Priced by the number of providers that you will be supporting you can get just what you need when you need it.

SyMed announces a planned release date of December 1st for our 5010 ready software.  SyMed has been diligently at work with our trading partners making sure our software meets the stringent standards of the ANSI 5010 format, submitting to Medicare as early as April of this year!. Our December 1^st release date allows our customers adequate time to test the 5010 format with any agency that requires one.  This should be worry free test for our customers as we have already tested with all supported EDI receivers. Additionally, as we are fully 5010 compliant, any additional payers or clearinghouses our customers may need to transmit to would be fully supported.  If you are a current customer and need help sending in a 5010 test claim after upgrading to the 5010 version of our software, just call us and we will walk you through it.  SyMed Corporation: striving to maintain our leadership in compliance and preparedness in medical revenue cycle management.

January 1^st, 2012 is the date. Federal law will require all health plans, providers, and clearinghouses to use a new standard in electronic claims submissions, claims remittance, eligibility and claims status requests. The new standard, the ANSI 5010, will influence a practice’s reimbursement and revenue stream. If you are a health care provider you will have to update software systems and adjust for changes in workflow. SyMed is already 5010 compliant and will be ready to transition to the new format in January.

As the deadline quickly approaches, health care organizations will need to test their claims management systems to accommodate 5010 and prevent cashflow disturbances. SyMed is working hard to ensure that our clients will experience a smooth transition with minimal impact to their billing.

Questions about 5010 compliance? CustomerService@SyMedCorporation.com

Each month our clients notice an increasingly number of patients paying by credit card or with HSA cards. Many patients are beginning to ask about electronic bill pay options. SyMed has found the Vendor that will concentrate on service, cost, and compliance. Our clients will continue to take credit card transactions but also expand payment options as well.

Some advantages of electronic payment solutions:

• Generate revenue by improving collections
• Increase your practice visibility with your own customized and branded Internet payment site
• Ensure the receivable by setting the payment plan to automatically charge a credit card
• Improve patient satisfaction by providing a simple online option to pay rather than call the office.
• More timely payment deposits
• Deliver a more satisfying patient experience by offering flexible payment plans to make it easier for patients with high balances

Questions about Billing Services? CustomerService@SyMedCorporation.com

SyMed Corporation has a new revamped website! The new site offers Clients and Visitors a fresh look into SyMed. Since our first website back in 1999 (12 years ago!)  technology has changed and developed rapidly. This latest version of our site reflects SyMed’s diversity in medical billing and software services and the ever changing healthcare community.