Vendor Education: ARMCO Partners provides healthcare revenue cycle assistance
ARMCO Partners, an ICAHN Blue Star Partner, provides high quality forensic billing, clinical abstracting, NCCI edit resolution/denial management, and ICD-10 medical coding services for hospitals, physician networks, and home health/hospice services. ARMCO Partners enables over 150 of the United States’ leading healthcare organizations at over 500 physical locations to resolve denials, improve cash flow, and obtain insights that help them better understand their business. Each of ARMCO's 400 full-time employees possess a four-year bachelor’s degree in nursing and several industry-standard certifications including AHIMA CCS, CCS-P, or CPC and/or CPC-H as well as HCS-D for home health/hospice accounts.
ARMCO Partners is led by an executive staff with extensive experience on both sides of the vendor-client partnerships – averaging 25 years’ experience in coding, billing, and revenue cycle operations. Many of their senior leaders have joined the firm from past clients, providing ARMCO with outstanding insight into the needs and expectations of new potential partners. This laser focus on establishing mutually beneficial partnerships on the front-end of engagements has led to ARMCO having a 100% customer retention rate since its founding.
By structuring many of its offerings on a contingency-based pricing model, the upfront capital required to deploy ARMCO's service offerings are close to or at zero dollars, which is a huge asset for often cash-strapped health systems in need of assistance. ARMCO structures its teams to function as a simple extension of the client’s existing onsite personnel and technology – meaning they make use of IT infrastructure and technology already in place, leading to rapid deployment and onboarding. Client data remains exclusively theirs and is never possessed or stored on ARMCO servers; rather, it is simply accessed via secure and remote VPN functionality allaying any privacy or data security concerns.
"ARMCO prides itself on being a niche RCM (Revenue Cycle Management) vendor focused primarily on health systems that are typically not on the radar of larger, one-size fits all RCM vendors (for example, small-medium sized independent health systems and rural/critical access organizations)," said Ryan Bush, Vice President-Sales, ARMCO Partners. "We only provide a handful of services, but we focus on being best of breed and on delivering immediate financial results as well as actionable data and insights that our partners often use for internal education and the betterment of antiquated or broken processes."
ARMCO Partners currently works with three ICAHN member hospitals assisting them with all manner of A/R cash acceleration – including claim status checking, account review, edits and rebilling, and clinical and technical denial appeals. In the 18 months ARMCO Partners has been engaged with ICAHN clients and successfully overturned more than 2,500 stalled or denied accounts worth $1,400,000 in bottom-line revenue for the three health systems of which they have currently partnered.