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Billing Consulting for Medical Practices
For the management teams of most small- and medium-sized medical practices, billing is one of the biggest administrative headaches. You didn't go into medicine to navigate the twisted paper trail of insurance carriers and co-payments, and their ever-changing requirements don't help matters either. As a result, your billing system, procedures, and contracts may be inefficient, outdated, or otherwise inadequate for running as profitable a business as possible.
PCG can not only eliminate this pain, but also turn billing into one of your greatest opportunities for growth. Our billing consulting service enables you to provide excellent customer care, increase the efficiency of your administrative staff, and virtually eliminate write-offs that could be collected simply through better compliance and data processing. Through our medical billing best practices, we help deliver measurable savings to your bottom line, and far better cash flow than you ever expected.
We have expertise in all aspects of medical billing, including coding and charting compliance, and the checks and balances required to reduce fraud. We also know the best approaches to managing insurance carriers, and maintaining compliance with all government health regulations. Some of our specific services include:
- Accounts Receivables auditing to clean up your medical records and get you on track to more systematic, efficient collections
- Contract evaluation and renegotiation to ensure you get the most favorable terms
- Outsourced billing services and patient accounting to take the workload completely off of your staff
- Strategic planning to create a medical billing department that's proactive and "right sized" for your operation
- Reduced vulnerability to change. Every time Medicare makes an administrative policy or procedural change, your billing system will be equipped to handle it. Claims will go through properly, no longer denied because you weren't up-to-date on the latest policy.
- Increased compliance with insurance provider coding policies. As you've probably experienced before, non-compliance causes denied claims that often require months to resolve; in the meantime, your cash flow can be seriously disrupted. Our process helps ensure that your claims are done correctly the first time, and that you get paid on time.
- Maximized reimbursement rates. By reviewing and renegotiating your contracts, we'll make sure you're receiving the highest reimbursement rates possible.
- Increased administrative efficiency. We can help you cut the processing time required for daily transactions by an order of magnitude or more through proven, cost effective electronic data transfer and remittance systems. We'll also teach you how to focus on claims that can be recovered, so that you don't waste time resending bad claims.
Please contact us to discuss your medical billing practices and arrange an initial meeting. We also encourage you to learn more about our Accounting Services, which are often highly complementary to our Medical Billing solution.
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How effective is your medical billing process?
Take this quick quiz to see...
- When were your insurance contracts last reviewed or negotiated?
- How old is your oldest account receivable?
- What checks and balances do you have in place to reduce the risk of fraud?
- What happens to your cash flow when A/R goes on vacation?
If you can't
answer any one of these questions—or if you're not happy with your answers—PCG can help! Please contact us to learn more.
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