IMPORTANT QUESTIONS TO ASK A THIRD PARTY RCM VENDOR

1. Vendor call centre questions: Where are the call centre employees located? A growing number of RCM companies employ people abroad, a fact that they should disclose. Practices should find out what the call centre hours will be, the employees’ language skills and their knowledge of local laws and regulations.

2. Industry best practices: Are employees certified and familiar with industry best practices?

3. Vendor reports: What reporting is provided? The most effective way for a practice to assess its vendor’s performance is through reporting. Reports should be provided on a regular basis.

4. Transparency questions: In addition to receiving reports, is there an analyst assigned to your practice to walk you through the numbers and answer any questions? Do you work with one team, or will you be passed among many different people? A good RCM vendor will assign you a team to work with, so you can build a relationship with them.

5. Money transfers: Where to and how often is money transferred? Does the RCM vendor first collect on behalf of the client and then send them a check? Does the money go straight to the practice? Is the money sent to a lock box? The way an RCM company handles this could affect a practice’s ability to meet its financial obligations.

6. Clearinghouse: Do you have a fully integrated clearinghouse? Clearinghouse integration enables a more efficient process for the entire revenue cycle.

7. Practice management system: Would you purchase this vendor as your PM? If you are not comfortable with the PM system, you should not trust the vendor with your finances

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