Medical Claim Care Professional Physician Services
FAQ
Q: What is the major cause fluctuations in revenue cycles?
A: Large fluctuations in revenue frequently begin within a practice. Untimely submission often frequntly is the number one cause of lost income due to a provider. Delayed or denied claims can lanquish in Accounts Receivable because the billing department lacks the time required to reseach and refile claims. Industry experts estimate that a single physician can loose as much as 10 percent of their income to the problem.
Q: Why should I want most of my claims to go electronically?
A: The answer to this question is rather obvious. Filing paper usually takes 3-4 weeks before you receive funds, using electronic filing usually will be paid within 4-5 days. And, any claims denied can be re-filed sooner, making cash flow improve and accounts receivable balance decrease.
Q: Collecting from patients is a problem, what can I do to improve it?
A: Studies have shown that on average, physicians only collect 49 percent of the money their patients owe them. Let assume that if just 15 percent of your patients do not pay you, that reprsents a huge chunk of money -- and here is the important part: that represents 15 percent represents your profits! Assuming you cover your costs with the money you do collect, that 15 to 49 percent that you are not collecting comes straight from your bottom line.
Q: Deciding what E&M coding to use can be perplexing at times, should I retain the services of a certified coder?
A: Yes. However this depends on the type of specialist you are. Primary care for example use a variety of codes, making the task even more daunting. Retaining the services of a certified coder may be similar to retaining the services of your accountant, you need professional advise to avoid any future challenges to the way you code.
Q: Why would outsourcing to Medical Claim Care benefit me?
A: Not only would your payroll, benefits and overhead costs be eliminated, but you would have a team of professional billers accessible. You also would receive advice from our certified coding staff to ensure you are receiving the reimbursments you are entitled to. Lastly, you would receive a leading state-of-the art partice management software at no cost. Best of all, you only pay a small percentage on what we are actually able to collect on your behalf.
A: Large fluctuations in revenue frequently begin within a practice. Untimely submission often frequntly is the number one cause of lost income due to a provider. Delayed or denied claims can lanquish in Accounts Receivable because the billing department lacks the time required to reseach and refile claims. Industry experts estimate that a single physician can loose as much as 10 percent of their income to the problem.
Q: Why should I want most of my claims to go electronically?
A: The answer to this question is rather obvious. Filing paper usually takes 3-4 weeks before you receive funds, using electronic filing usually will be paid within 4-5 days. And, any claims denied can be re-filed sooner, making cash flow improve and accounts receivable balance decrease.
Q: Collecting from patients is a problem, what can I do to improve it?
A: Studies have shown that on average, physicians only collect 49 percent of the money their patients owe them. Let assume that if just 15 percent of your patients do not pay you, that reprsents a huge chunk of money -- and here is the important part: that represents 15 percent represents your profits! Assuming you cover your costs with the money you do collect, that 15 to 49 percent that you are not collecting comes straight from your bottom line.
Q: Deciding what E&M coding to use can be perplexing at times, should I retain the services of a certified coder?
A: Yes. However this depends on the type of specialist you are. Primary care for example use a variety of codes, making the task even more daunting. Retaining the services of a certified coder may be similar to retaining the services of your accountant, you need professional advise to avoid any future challenges to the way you code.
Q: Why would outsourcing to Medical Claim Care benefit me?
A: Not only would your payroll, benefits and overhead costs be eliminated, but you would have a team of professional billers accessible. You also would receive advice from our certified coding staff to ensure you are receiving the reimbursments you are entitled to. Lastly, you would receive a leading state-of-the art partice management software at no cost. Best of all, you only pay a small percentage on what we are actually able to collect on your behalf.
