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Tackling missed revenue opportunities at your practice!

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In order to tackle missed revenue opportunities, medical practices will have to bridge gaps in medical billing, integrate clinical and billing processes and focus on enhancing their revenue cycle management. With annual payment cuts, rising costs and ICD-10 looming on the horizon, providers cannot afford to lose more money..

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Tackling missed revenue opportunities at your practice!

  1. 1. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 1 of 7 Tackling Missed Revenue Opportunities at your Practice! In order to tackle missed revenue opportunities, medical practices will have to bridge gaps in medical billing, integrate clinical and billing processes and focus on enhancing their revenue cycle management. With annual payment cuts, rising costs and ICD-10 looming on the horizon, providers cannot afford to lose more money. Industry Standards  As per the final rule, SGR pay cut for 2014 will be approximately 24% which will affect the financial health of medical practices  Implementation of ICD-10 in 2014 will not only lead to system re-designing but
  2. 2. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 2 of 7 also result in disrupted cash flow  Fee-for-service contracts have been negotiated with physicians by third party payers. This has resulted in reimbursement at less than 100% of charges Why does a practice lose money?  Inefficiency in the medical billing process is the main reason due to which practices are missing opportunities to maximize revenue and minimize claim denials  Providers who fail to tackle same-day collections, clean claims, underpayments and preventable denials are facing annual revenue losses
  3. 3. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 3 of 7  Bad debt recovery, coding errors, time-of-service collections, managed care contracts, work flow, adjusted collections are some of the areas where providers should look for missed revenue opportunities  Lack of internal control and missed charges that not only present missed opportunity for revenue collection but also missed tracking of resources and supplies  Inefficiency in collection of upfront payments also needs to be addressed in order to tackle missed revenue opportunities
  4. 4. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 4 of 7 Don’t miss opportunities to collect revenue at your practice: Providers can improve the financial standing of their practice by handling the below- mentioned opportunities in the right manner-  Hire experienced coders to reduce the chances of inaccurate and incomplete coding  Improve patient schedule system, send reminder calls to patients 24-48 hours before their appointment and bill them a no show fee for missing that appointment  Ensuring that unauthorized patient procedures or services don’t lead to denied claims  Getting rid of outdated fee schedule  Timely appeal for denied claims  Reduce the occurrence of missed charges on patient accounts
  5. 5. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 5 of 7  Collecting upfront payments, deductibles, co-insurance and co-payments Tackling missed revenue opportunities with MBC! Practices can tackle missed revenue opportunities by choosing a medical billing company like Medicalbillersandcoders.com that will not only optimize billing processes but also offer effective revenue cycle management. Use of latest technology: you don’t need to worry about investing in latest software and systems. MBC makes use of all the necessary resources and processes to enhance collection rate and minimize claim denials Error-free claim submission: MBC has the largest consortium of billers and coders who
  6. 6. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 6 of 7 can help your practice collect maximum revenue through error-free coding and billing Customized services: MBC offers specialized billing services customized as per your management needs. You can either take the entire suite of services from MBC or choose certain services as per your practice requirements Effective solutions for revenue generation: MBC not only helps practices identify areas that need improvement for better collection rate but also offers effective solutions to overcome challenges, if any The expert team of coders and billers at MBC has been successfully helping practices identify missed revenue opportunities. MBC = Optimize Billing Processes + Increased Revenues
  7. 7. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 7 of 7 Related Posts:  Sail Through Family Practice Billing with an Experienced Billing Team  Should you be Training your Dental Biller for ICD 10 Changes?  Enhance Cardiology Billing Process with EMR & EHR Implementation

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