Each year, $125 billion is left on the table due to poor medical billing practices. Put the money you’re owed back in your hospital’s pocket! Between changing regulations, rejected claims misfiling and inaccurate billing, your hospital can’t afford to take on complicated billing by itself.
At Precision Medical Billing, we specialize in total A/R management so hospitals can increase their cash flow and get back to what matters.
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:
- A/R Reporting for 30/60/90 days
Your patients’ first visit to the hospital is the ideal time to create a detailed and accurate file for their future payments. PMB will train 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 Practices
- Business Office Management
Don’t write off collectable debt when insurance companies avoid or delay payment for a claim. PMB will recover the money you’re owed by working with insurance companies on your behalf. Our appeal services allow you to collect on denied claims without wasting the time and energy you should be devoting to your patients.
Let PMB handle overpayments 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
If your payers are reducing their fee schedules, you must implement aggressive negotiations to keep it from impacting your revenue. PMB will respond to contract negotiation notices and keep an eye on existing contracts so we’re ready to negotiate any percentage changes.
- Expected Payment Reporting
- Up-To-Date Payer Matrix
- Renegotiation Reminders
- Medicare Schedule Analysis
- Existing Contract Evaluation