Hospital Recovery Services
Every year, an astounding $125 billion is left unclaimed due to inadequate medical follow up practices.
Recapture the revenue your hospital is due! In the face of changing regulations, claim rejections, misfilings, and collections inaccuracies, your hospital cannot afford to navigate the complexities of collections alone.
At Precision Medical Billing, we specialize in comprehensive A/R management, enabling hospitals to boost their cash flow and refocus on what truly matters.
At Precision Medical Billing, we understand the challenges and complexities that healthcare providers face in staying compliant with ever-evolving regulations. With the recent implementation of the No Surprise Act, it is now more critical than ever for medical practices to ensure they are adhering to its guidelines and protecting their patients from unexpected medical bills.
Our primary goal is to help healthcare providers avoid fines and penalties associated with non-compliance with the No Surprise Act. With our comprehensive approach to compliance, we offer a range of services to ensure that your practice remains fully compliant and minimizes the risk of fines. Here's how we can help:
Thorough Compliance Assessment: We begin by conducting a thorough assessment of your billing processes and procedures to identify any potential areas of non-compliance with the No Surprise Act. By understanding your current practices, we can proactively address any issues and implement necessary changes to align with the Act's requirements.
Policy and Procedure Review: Our experienced team will review your existing policies and procedures related to billing and provider networks. We will work closely with your practice to update and establish robust policies that align with the No Surprise Act. This ensures that your team follows proper billing procedures, reducing the risk of fines resulting from inadvertent billing errors.
Real-time Updates on Regulatory Changes: Healthcare regulations, including the No Surprise Act, may undergo updates or modifications. We stay vigilant in monitoring any changes to ensure your practice remains up-to-date and compliant. By promptly adapting your policies and procedures to new regulations, we help you avoid potential fines resulting from outdated practices.
PMB COLLECTED OVER $1 BILLION IN RECEIVABLES FOR OUR CLIENTS SINCE 1995!
Precision Medical Billing is a leading national medical billing and training company. Precision Medical Billing has been helping medical providers improve and simplify their medical billing processes for over 20 years. With Precision Medical Billing, you get the expertise of a dedicated billing partner, complete with a team of professionals that will work for you to maximize your revenues; giving you the peace-of-mind you need to focus on providing exceptional quality healthcare to your patients.
Your patients’ first visit to the hospital is the ideal time to create a detailed and accurate file for their future payments. PMB will be your in-house administrative staff members and coordinate registration personnel to ensure your recordkeeping is pristine and useful during collections. Depending on your needs, administrative management can include:
- Front Office
- Registration
- e-Scheduling
Changing regulations, updated reimbursement requirements and similar hurdles have made it more difficult than ever to receive payment for services provided. Our team works with you to evaluate your current processes, eliminate factors to reduce your revenue and ensure you capture every dollar you are owed. Total A/R Management includes:
- Billing/Collections
- Denials/Appeals Management
- Early Out and Self Pay
- Audits/ A/R Cleanup
Let PMB handle over-payments and keep your books balanced, all while remaining in compliance with federal regulations. Our credit balance services include:
- Timely Reporting
- Processing Credit Balances
- Patient Credits
- Secondary Insurance Payments
MyClearVisit- Patient In-take services
*Patent Pending Process
Precision Medical Billing has implemented a new front desk software called, MyClearVisit. By using this new process, your practice will reduce the time your patients experience sitting in the waiting room, they will be able to fill out paperwork when it is convenient for them and we make them aware of their estimated financial responsibility before they arrive at your office for their appointment.
We are committed to making their visit to your office convenient and registering as simple as possible!
MCV allows your patients to choose a time to see you seamlessly, either by calling or virtually choosing a time that is convenient for them and your practice-scheduling and confirm appointments
MCV will retrieve all your patient’s demographics, their signed consents and even their chief complaints for coming in to see you giving you the opportunity to proactively triage each patient before their visit.
MCV will verify and gather all of your patient’s insurance benefits information including front and back of insurance cards, proof of identification, copays and deductions.
MCV, when needed, will communicate with your patient’s insurance company to get authorization in advance of you performing any service or procedure to ensure payment to your practice.
MCV will speak with your patients, when needed, to explain any of their insurance questions they may have regarding their benefits and costs when it comes to being serviced by your agency.
The patient will receive written cost estimations prior to their first visit.
MCV collects the estimated Patient Responsibility amounts prior to the nurses first visit such as co-pays, deductibles and co-insurance
MCV promotes a calm, pleasant arrival and experience for your patients allowing them to skip the waiting area process.
Triage emails for HMO referrals from PCP, faxes, voice mails, follow up on no shows and rescheduling. Ensure all information is in the EHR.
Our Proven Process
To ensure accuracy and timeliness, we utilize a 6 step process that is both efficient and effective.
- Step 1: PMB submits claims electronically
- Step 2: PMB follows up on all claims.
- Step 3: PMB provides consistent reporting on all claims.
- Step 4: PMB resolves all claim issues.
- Step 5: PMB meets with clients to discuss overall account.
- Step 6: PMB successfully gets claims paid.
Since 1995 PMB has been a global leader in revenue cycle solutions. Speak with an account representative today and begin getting your claims paid.
Commitment to Quality
At Precision Medical Billing, we recognize the significance of precise and prompt physician billing. We are devoted to offering quality services that ensure accuracy and compliance, executing all physician billing services with diligence and integrity.
Utilizing the latest technology, resources, and best practices, we deliver physician billing services that enhance reimbursement rates and enable you to focus on your patients.