Find answers and solutions to your common medical billing and IT challenges. If you Can’t find an answer, contact us and we will happy to help you.
What are you looking for?
What advantages do healthcare providers gain from outsourcing medical billing?
Outsourcing medical billing enables healthcare providers to save time and resources, lower administrative expenses, and enhance collections and cash flow.
What forms of assistance do you offer for claims that have been denied or rejected?
We offer comprehensive claim reviews and appeal services for denied or rejected claims, collaborating with insurance companies to address any issues and recoup lost revenue.
How do you manage the process of obtaining insurance pre-authorizations and submitting claims?
We ensure our team is knowledgeable about insurance requirements and submission procedures, enabling us to handle pre-authorizations and claims submissions promptly and effectively.
How do we get claim/charge information to you?
Typically, we utilize your system to transmit claims directly from your EHR/EMR. Alternatively, you can securely email or fax data to our HIPAA-compliant fax system.
How do you keep client and patient information secure?
We take data security very seriously and use industry-standard encryption and storage methods to protect all client and patient information.
What sets your company apart from other medical billing companies?
Our commitment to accuracy, timely results, and exceptional customer service sets us apart from other medical billing companies.
What is your average collection rate?
95%. Defined as (Payments/Charges) – Adjustments by posted dates.
How do I know that my patient data is secure?
We use and maintain HIPAA compliant solutions and methods of communications at all times.
Where does my money go?
Straight to your bank account. All paper EOBs/ checks go to you.
Do you transmit claims electronically?
Yes. This is our preferred method.
Will I have a dedicated resource to our account?
Yes, at all times! We assign 2-person teams at a minimum to all practices. This enhances redundancy.
Should we continue to work our previous billings/collections once you take over?
We prefer to work and take over your past collections.
How do you ensure accuracy in billing processes?
We have a team of certified medical billing professionals and use the latest software to ensure accuracy in all billing processes.
How do I know that you will be more effective than our own office staff?
You can always provide us a first pilot project for 30 days.
How much experience do you have with my medical specialty?
We cater and serve most specialties and have access to specialty specific resources that help guide our methods and practices.
What does having Managed IT Services cost?
Our service model uses a fixed monthly fee, which is based on the size and complexity of your particular network. Once contracted, your Managed IT Services will cover maintenance and support for every component of your network, providing you with peace of mind and the ability to accurately forecast your IT maintenance costs.
I’m new in my practice—How do I set my fees and will you assist in watching reimbursements?
We specialize in credentialing new providers. We understand the pain and headaches involved in setting processes and workflows.
How do we get our existing patient data to you?
All paper EOBs can be mailed/emailed/uploaded to us. All data residing in other billing software’s can be imported manually. We can help you with that.
What should I do before I call for help?
When possible, write down any information about error messages and take screen shots your issue. Next, attempt to recreate the issue. Often times, it helps to close the program and restart the computer to reset the system, and possibly resolve the problem.
Given that almost a billion dollars are lost every week due to billing errors in the US healthcare system, what strategies can healthcare practices implement to mitigate these losses?
Addressing this issue requires a multi-layered approach. Practices should consider integrating practice management systems that improve data accuracy and optimize the billing process. For instance, systems that provide comprehensive solutions can automate many repetitive tasks susceptible to human error. These systems also enhance claim tracking and manage patient appointments, which are often the starting point of the billing process. Additionally, intelligent data analysis technology can alert practices to frequent errors before they lead to rejected claims.
How does incorporating advanced technology into billing operations impact medical debt recovery, and what changes can it bring?
Advanced technology plays a crucial role in optimizing billing operations. By incorporating intelligent automation and real-time data analytics, practices can foresee and rectify issues that cause underbilling or claim denials. Technology also helps identify inefficiencies and uncover insights that guide actionable improvements. By converting raw data into a strategic asset, practices can shift from being reactive to being proactive in their financial management.
Revenue Cycle Management (RCM) is essential in the healthcare sector. Can you explain how effective RCM practices can improve financial health and lower medical debts?
Effective RCM requires a thorough understanding of the billing cycle, from the initial patient appointment to the final bill payment. Ensuring that every step is carried out with precision and attention to detail is crucial. Regular audits help minimize incorrect coding and non-compliance with payer policies. Automating parts of this process ensures that claims are submitted on time and followed through to resolution, positively affecting the bottom line.
The expertise of billing staff is vital for successful financial operations. How should healthcare practices approach staff training and development to enhance billing efficiency?
Ongoing education is essential. The healthcare billing landscape is continually changing, and keeping staff informed about the latest software tools and compliance regulations is imperative. Creating a robust training program that includes continuous support, refresher courses, and updates on industry changes is crucial. Practices should foster a culture of learning and adaptability, encouraging staff to stay updated on new billing methods and technologies that can streamline their work and improve accuracy.
What are the benefits of forming strategic partnerships with technology providers, and how can they help improve billing processes in healthcare practices?
Strategic partnerships go beyond merely outsourcing services or acquiring technology. They involve aligning with partners who have a deep understanding of the financial and administrative needs of healthcare. For instance, Revantage Healthcare can offer insights into operational efficiencies, help navigate complex payer policies, and provide solutions tailored to a practice’s specific needs. True partnerships involve working together to identify cost-saving opportunities while maintaining high standards of patient care.
How can healthcare practices utilize data analytics to gain insights into their billing processes, and what improvements can this lead to?
Data analytics can significantly enhance billing operations. Systems offering robust reporting capabilities allow practices to thoroughly analyze billing data, uncovering patterns that often lead to claim rejections or underpayments. Identifying trends, such as consistently under-coded procedures or common reasons for claim denials across specific payers, empowers practices to refine their billing processes, conduct focused staff training, and negotiate with insurance companies from a well-informed position.
With healthcare regulations constantly evolving, how can practices ensure compliance and minimize the risk of revenue loss due to non-compliance?
Ensuring compliance requires a proactive approach. Practices should implement a solid system for regular policy reviews and compliance checks. Keeping billing systems and procedures updated with the latest regulations helps prevent costly mistakes that result in penalties and lost revenue. Additionally, fostering a culture of compliance within the team, where every member understands the importance of following regulations, is crucial for mitigating risks.
Considering these insights, what is the overall impact of strategic billing on medical practices, and how does it affect patient care?
Strategic billing profoundly impacts both the financial health of medical practices and the quality of patient care. By reducing errors, streamlining processes, and recovering more debt, practices can achieve financial stability. This stability allows them to invest more in patient care and services. When a practice is not burdened by financial inefficiencies, it can focus on providing exceptional care to patients. Efficient billing operations create a virtuous cycle, leading to better healthcare outcomes.
