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How Medical Billing Companies Help FQHCs Improve Revenue Cycle Management

Most of the FQHCs in the U.S. face serious challenges in maintaining their patient billing systems and also in managing their revenue cycles. As a result, many FQHCs seek the services of medical billing companies in order to address these challenges.FQHC billing team

Medical billing companies help FQHCs with their patient billing systems and overall revenue cycle management by taking the following measures:

1. Ensuring proper registration by using checklists – By so doing, the companies enable FQHCs to reduce the claims that are usually rejected because of ineligibility, non-authorization of services or missing patients’ information.

The officer who registers the patient usually obtains photocopies of the patients’ insurance cards and also verifies personal information, contact information and identities of the patients.

2. Practicing pre-admission contact – Most of the medical billing companies have embraced pre-service/pre-admission contact for scheduled/elective procedures. In such cases, the patient is contacted in advance and then requested to update any information that may be missing/ out-of-date. The two parties also make payment plans, whereby the prospective patient is asked to pay long before the procedure is carried out or on arrival at the FQHC.

3. Establishing a retail mindset – Typically, the contracted companies enhance FQHC billing systems by devising ways of effectively collecting payments without necessarily damaging existing relationships with their clients, and this is achieved by embracing what conventional retailers do.

This usually involves one or more of the following actions; providing prospective patients with detailed information concerning the upcoming procedures and the respective payment expectations, offering small gifts when asking for payment, informing them that they can pay using credit cards and establishing payment collection systems as routine parts of the registration work-flow.

4. Establishment of strict regulations to guide the claims submission process – By meeting proper regulations, medical billing companies enable FQHCs to avoid factors that usually result in denial of claims by the parties that are supposed to reimburse the FQHCs.

Some of the factors that are thus avoided (by establishing strict regulations to guide the claims submission process) include; patient eligibility, coding errors, incomplete patient information, claims presented to the wrong parties, missing supplemental attachments, submission of duplicate claims and incomplete service information.

5. Regular examination of contracts with main suppliers – By taking this measure, medical billing companies help FQHCs by ensuring that they get paid in time and according to the conditions stated in the contract, and that the FQHCs always bill the creditors correctly. They also ensure that creditors don’t intentionally or unintentionally make mistakes when making payments to the FQHCs, and that they always get value for their money.

6. Replacement of manual systems with electronic payment systems – Electronic systems are better than manual systems because they are more efficient, safer, more effective, cheaper, and more reliable. Electronic systems are also less susceptible to manipulation by dishonest employees, and can be simultaneously used by different parties even if they are in different physical/ geographical locations. This measure can significantly enhance FQHC billing systems.

7. Matching electronic remittances with actual payments received – most of the companies boost FQHC billing systems by ensuring that electronic remittances always match/correspond with actual payments received. They rarely post/submit the electronic remittances before receiving/confirming actual payments. This helps in avoiding unfortunate incidences whereby the A/R is updated and yet the money hasn’t actually reached the bank account.

By taking the measures explained above, medical billing companies effectively help FQHCs with patient billing systems and overall revenue cycle management.

Advanced FQHC Billing Services by Practice Management

Practice Management is well-versed in providing Federally Qualified Health Center (FQHC) billing services with a high degree of effectiveness and professionalism. As one of the leading medical billing firms in the nation, Practice Management offers vast experience to optimize the FQHC billing process for many types of health centers.Practice Management Billing Services

With its talented team of billing experts and advanced billing software capabilities, the company has a proven track record in helping FQHCs decrease the time it takes to fulfill outstanding patient billings, while enabling them to maximize revenue in a more timely manner.

Practice Management’s Medical Billing Solutions

There’s a reason why so many medical clinics and FQHCs choose Practice Management for their billing services. Below are core capabilities that make-up the company’s comprehensive medical billing solutions.

Individualized FQHC Billing & Coding Services

The medical billing company works with FQHCs individually to ensure that the highest quality service is delivered. Clients can meet with specialists of Practice Management to devise the optimal comprehensive billing solutions that meets the individual needs of certain practice. They analyze various medical billing and coding strengths and weaknesses, and identify areas that need improvement. As a result, they improve the operating efficiency of health centers in the best way to ensure that they actualize more fluid payment processes, while also experiencing increased revenue, among other benefits.

Credentialing Solutions FQHC Billing

Physician credentialing is vital task to keep cash flowing for new and growing practices. When properly implemented, credentialing solutions can help to eliminate cash flow pitfalls that hinder timely fulfillment of billings. Practice Management provides well-versed credentialing services designed for various types of physician billing clients as well as hospital credentialing services. Practice Management maintains contact and progress of all enrollment until completion, and they keep a record of all credentialing information.

Electronic Management of Health Records

Practice Management is able to efficiently conduct all FQHC and medical billing activities by remotely accessing a practice’s current platform through a secure web portal. Some of these electronic-based billing activities include: charge entry, claim submission, payment posting and follow-up.

Nationwide Medical Billing Services

The medical billing company provides FQHC billing services for health centers across the nation spanning from Florida to California. They maintain solid communications with clients by using electronic data transmission, telephone, and video conferencing technology, among others throughout the billing process. In addition to FQHC billing, Practice Management also specializes in billing services for many other types of health and medical practices ranging from chiropractic to pediatrics.

Medical Billing Consulting medical billing service

Practice Management also provides medical billing consultancy services for FQHCs. Their revenue cycle consultant group will study a practice’s revenue cycle operations and overall billing procedures. The billing consultants of the company will then give recommendations for improvement of various processes, some of which are listed below:

  • Maintenance of software files
  • Charge capture procedures
  • Analysis of fee schedule
  • Process of insurance preparation
  • Receipt by payer and claim tracking
  • Other additional services available

Why Recruit Practice Management for FQHC Billing Services?

Practice Management is highly experienced in handling a wide spectrum of FQHC billing needs, and as a result, health centers can leverage some of the benefits listed below.

  • Reduced payment delays
  • Reduced overhead costs
  • Increased revenue
  • Higher levels of patient satisfaction

The company provides routine and customized reporting for every billing service client. After strategic implementation, Practice Management works with clients to come up with unique reporting requirements as needed. As a result, Practice Management is able to offer clients personalized medical billing services backed by a high level of experience.