Accounts Receivable Medical Billing
Our Accounts Receivable Medical Billing Recovery Model
When you choose MedPro Services, Inc to collect on aged account receivables (AR), you are choosing a team of experts dedicated to recovering money that may have otherwise successfully may have been leaving on the table. MedPro Services Inc only hires the top AR Recovery specialists across the nation.
MedPro Services, Inc incentives our staff with monthly bonuses based on revenue collected for the client. When our team members successfully capture revenue for the client, they are also making MedPro Services successful and themselves. Our incentive bonus structure is a win for all involved with hard to recover claims.
Our expert team members will work with your team, do all the heavy lifting, and work on those troublesome claims.
Familiarity with Orthopedic Medical Billing
When it comes to Orthopedic billing, coding errors are among the most common reasons for claim denials. MedPro Services Inc has worked with Orthopedic surgeons and practices across the nation for over 30 years. When you choose MedPro Services, you are choosing Orthopedic billing professionals who are trained to stay up to date on the latest changes and billing challenges. Our team is knowledgeable of all the different aspects of correct coding and billing to ensure deserved reimbursements.
Process for Aged Medical Billing Accounts
How healthy are your practices account receivables? Here are some questions to ask yourself, What is the percentage of our outstanding revenue in 90, 120, and 150 days and older? What is our practice Net and Gross Collection? What is the average number of days it takes for a claim to process? Auditing your billing accounts is time if you cannot answer these questions. The sheer number of patients providers see in a year or even a few months can make it challenging to keep up with the claims volume, whether the claim is paid, outstanding, denied, or aging. Failing to track the stages for insurance claims follow-up could result in a large amount of lost revenue for a provider.
Even if the practice strives to streamline their billing, denied or outstanding insurance claims can continue to fall into aging categories when dealing with other medical billing issues. It is essential to work on those older insurance claims while still active, and potential revenue may still be collected. Unfortunately, many insurance carriers have set “timely” deadlines. Once an insurance claim fails to meet these guidelines, insurance carriers can refuse to reimburse the practices contracts with the insurance carriers. MedPro Services can help by first running a detailed AR aging report to review the percentage of your insurance claims sitting unpaid.
Our billing team will review and analyze the most current aged accounts receivable report. We will prioritize the report by insurance carriers and the oldest aged accounts that need to be worked on or corrected immediately. Our team will prioritize the aged accounts by reviewing the last date of follow-up and what actions were taken. If your current billing team does not have the experience or is overwhelmed to follow up on aged claims, it may be time for outsourcing. Overall, this process benefits your clinic, so you can focus instead on accounts that have not reached aging yet. MedPro Services Inc. offers a free medical billing assessment to see how much additional revenue our team can potentially make for you.
MedPro Services can work only your practices old AR over 90, 120, or 150 days and older or we can be considered an extention to your billing office and work all unpaid, denied or aged claims for your practice. For further questions or to discuss the next steps, give us a call.
Practice Administration
While most practices already have an Administrator or Billing Manager, some may lack the experience and leadership to organize office structure and implement the best medical billing practices to make your practice successful. MedPro Services has over 30-years of experience working with physician practices and managing non-clinical personnel. MedPro Services is your solution for creating and implementing clear Administrative Services for your practice. These include such things as:
- Creating non-clinical team member job responsibilities/descriptions
- Developing and implementing policies and procedures
- Organizing front-end and back-end workflow
- Coaching on communication between patients, providers, and front staff
- Training staff on patient payment collection and setting up patient payment plans
- Creating and implementing “In-House” forms* (e.g., superbills/specialty encounter forms, surgery coding forms)
- Teaching office staff financial report compilation
- Establishing guidelines within your billing department to meet MGMA guidelines on such things as aging, collection ratio, and days in AR
- Suggesting and providing technological tools for correct reimbursement
- Researching Electronic Medical Records (EMR) and Practice Management (PM) software to fit the needs of your practice
- Developing appointment templates based on the needs of your practice
- Researching correct coding
- Identifying aging account resolution procedures
- Front Desk Preparation
- Benefit Verification
- Chart Review
- Prior Payment to Appt
What Makes MedPro Services Different?
Since 2002 Our Mission has been to combine unparalleled service and support with advanced technology returning healthcare to an affordable and straightforward transaction between providers and patients.
MedPro Services has the expertise and the experience needed to provide outstanding service to all medical professionals. We bring over 30+ of experience in coding and billing to the table and we use only the latest and the best technology available.
Medical Billing Administration focuses on helping a practice with data and materials needed to organize their clerical staff and front office flow.
- HIPPA, compliant information
- EFT Information
- Bank PO Boxes
- Patient Payor Portals and more
- Insurance Credentialing information
- CAQH Registration
- PECOS Registration
- NPI Type I and NPI Type II
- NPPES Registration
- EFT Information
- Bank PO Boxes
- Patient Payor Portals and more
Exceptional patient care and customer service
Will set your practice apart from your competition. They will prepare you for the value-based program that payors are moving towards regarding reimbursement.
Communication with patients that conveys transparency clarifies expectations and removes the stress of the unknown will increase your “ratings” with patients. One way to accomplish this is through the creation and implementation of forms. MedPro Services can help create and implement needed documents within your office, such as:
- Patient registration forms that will flow with your practice management software.
- Disclosure forms
- Agreement forms
- HIPAA compliance forms
- Patient financial responsibility forms
- Advance Beneficiary Notice pre-filled forms
- Collection threat letters
