Practolytics is a 20+ year-old healthcare technology and revenue cycle management services company providing medical billing service solutions to 180+ practices of all sizes spreading across 31 states and serving more than 28 critical specialties. The diverse geographical presence helps Practolytics better understand and manage to the nuances of all major insurances.
Practolytics processes more than 2.5M claims annually, collecting more than $50M for its clients. End-to-end services include medical billing, medical coding, chart audit, credentialing, eligibility, benefits verification, and preauthorization services. Practolytics is pioneering healthcare consulting and practice analytics in unique ways that allow practices to eliminate revenue cycle management inefficiencies. The company’s diverse background in every aspect of healthcare allows it to maximize revenue and consistently deliver optimum results.
The Practolytics one-stop revenue-cycle-management solution with expert guidance helps its clients navigate through complex healthcare reimbursement processes and improve workflow efficiency and healthcare business profitability.
Key Medical Billing Services Offered through Practolytics
Practolytics is one of the leading multi-specialty billing companies serving more than 28 medical specialties across 31 states. Practolytics bundles AdvancedMD software with billing services along with credentialing, patient customer services, benefits and authorization. Practolytics helps you maximize reimbursements with its expert medical coding assistance and powerful analytics tools as well.
Specialties Benefitted from Practolytics RCM Services
Practolytics services individual doctors, group and multi-location practices offering services to patients in outpatient (clinic), hospitals, ambulatory settings and also DME (durable medical equipment) companies across United States.
Benefits of Outsourced Medical Billing through Practolytics Billing Services Company
The Practolytics meticulous approach to delivering revenue cycle management services allows clients to focus on patient care. With proven technology solutions, Practolytics is focused on improving the efficiency and productivity in each area of service for your practice.
Practolytics Statistical Snapshot
- 5M claims processed annually
- 5% year-over-year client retention
- 1400+ active providers
- 180+ happy customers
- Serving customers in 31 states
- Servicing more than 28 specialties
- 100% HIPAA compliant
While working with different specialties in multiple states, Practolytics has built a unique denial scrubber which helps to avoid getting repeated denials. First pass ratio of 95% in first 75 days along with 98.5% + collection rate makes Practolytics one of top national billing service companies that is helping independent practices achieve high revenue performance. Since 2019, 65% of Practolytics customers have achieved contract renegotiated with insurance companies with the help of a dedicated analytics team, that continues to analyze different trends of the industry.
Practolytics has Partnered with AdvancedMD for High-performance Billing
Many years ago, Practolytics selected AdvancedMD as it is one of the most robust and reliable cloud platforms available in the revenue cycle management industry. With excellent customer service, integrated clearinghouse and customized workflows, AdvancedMD helps billing services and practices improve efficiency at the frontend as well as backend to maximize the profitability of practices. Simply put, AdvancedMD and Practolytics combined create a powerful technology and services bundle that yield very favorable billing and collections outcomes for physicians.
Specialties Served by Practolytics Medical Billing Services
- Addiction medicine
- Allergy & immunology
- Behavioral & mental health
- Dermatology & cosmetic
- Family practice
- Hospice & palliative care
- Internal medicine
- Laboratory & pathology
- Oncology & hematology
- Ophthalmology & retina
- Pain management
- Physical medicine
- Physical therapy, chiropractic & rehab plastic surgery
- Spine & thoracic surgery
- Urgent care
Markets Served by Practolytics Revenue Cycle Management Services
Practolytics has extensive knowledge with national and state-specific commercial payors in Alabama, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, and West Virginia.
Typical Client Services Offered by Practolytics
- Medical billing
- Medical coding
- Chart audit services
- Eligibility & benefits verification
- Credentialing services
- Preauthorization services
- Practice consulting services
- Patient call center
- Accounts receivables
- Charge/payments posting services
For new customers that get onboarded this month, Practolytics is offering following services for free ($10,000 value):
- Data migration from current system to AdvancedMD practice management
- Charts migration from current EHR (up to 2,000 patients)
- Template creation (up to 10 templates per practice)
- 20 hours of customized AdvancedMD training & implementation for EHR and practice management
- Credentialing services (for up to 2 physicians and 10 insurances each)
- Free real-time eligibility check
- Free 2-day onsite implementation for practices with collections above $200,000 per month
Learn more about Practolytics medical billing and revenue cycle management services.