Tag: finance

Finding The Right FQHC Billing Company

The reality that any FQHC would need the services of a professional FQHC billing company is undeniable. With a good billing company, FQHCs are assured of efficiency, customer satisfaction and increased revenue.FQHC medical billing

Nonetheless, with medical billing companies mushrooming every day, it is painstakingly difficult for health centers (especially startups) to choose a billing company that will meet their needs. One thing is for sure, each billing company presents itself as the cream. To discern chaff from grains, there are a couple of factors to look out for when choosing a billing service.

Bespoke FQHC Billing Services

Each FQHC has its own set of services. Though most of them share billing problems, each has unique billing needs. To this end, billing companies need to tweak their services to suit needs of each of these health centers. With tailor-made services, you are assured that you are covered for any billing problem you may have in future. A good billing company is one that will work with a health center in a bid to identify and overcome FQHC billing challenges facing them and opportunities they have and then make a plan to curb challenges and take advantage of opportunities.

Collection Criteria

One of the main reasons why health centers need FQHC billing companies is to assist them in self-pay collections. This is why reputable FQHC billing companies like MaximizedRevenue.com thrive in the markerplace for billing services. Instead of health center employees following clients to collect any cash they owe the facility, billing companies do the follow-up to ensure that patients pay all their dues. A good company should have a follow-up plan put in place.
On the same point, billing companies need to provide as much information to their clients as they can. This helps clinics make major decisions, analyze cash flow, identify challenges and opportunities and even make a budget. A billing company that offers regular reports helps a clinic change their operation techniques for the better.

Industry Experiencemedical FQHC billing experience

Experience is key. This is indisputable of any company that produces goods or offers services. A billing company that has been in operation for a long time (especially one that has operated for more than a year) and has handled a couple of clients successfully is better placed to offer quality services than one that has just kicked off. Nevertheless, you need to look beyond their length of operation and look at what they have achieved with their clients and their mode of operation. You need to assess their use of technology and how swift their services are.

Customer Support and Prices

If you want quality services from a FQHC billing company, prices will not be a problem. But then again, you need to know their pricing options and compare their prices with other companies in their level. Every billing company should (at all times) offer excellent customer support. This is an attribute that you should never beg for. If there is no customer support, a clinic is as better as handling their own billing problems.

What Services do FQHC Billing Companies Offer?

A good billing company should offer at least three main FQHC billing services; patient invoicing and support, claim generation and submission and collection services. They perform exemplary in following up insurance providers for claims in process. Other services you should expect from your billing service provider include credentialing, insurance eligibility confirmation, medical coding and scheduling of appointments among others.

An Inside Look at Hometown Community Banks of Illinois

Hometown Community Banks of central Illinois are all branches of the Morton Community Bank. Morton hometown community banksCommunity Bank is an independently owned bank that was founded in Morton, IL in 1961. It has an effective management team that aims at helping support the financial needs of businesses and residents throughout the area.

Hometown Community Banks works to support you in your financial endeavors, from buying a dream house, opening a new business, seeing your child through school, and so much more. It is a bank that simply wants to be part of your community and its progress.

Financial Services of Hometown Community Banks

Hometown Community Banks offers quite a number of financial services, such as personalized cash management services. This is a suite of services and products that are specifically customized for all your business needs so as to give you the extended control you need over your business banking operations as well as your finances.

The team of specialists responsible for cash management can review your business operations and effectively come up with a custom program of services and products specifically designed to meet all your business needs. The bank also offers other financial services like payroll services where you are in a position to set up direct deposit employee payroll, debit payments directly from customers accounts, and make direct payments to vendors.

Additionally, offers a host of other financial services for businesses and individuals, such as free checking accounts, savings accounts, money markets, COD’s, insurance and investment services, and HSA’s, to name but a few.

Personal & Business Lending Options

Hometown Community Banks of central Illinois also offers lending options for anyone who is interested in some financial aid. They have a lending program for small business loans where they finance both existing and start up small businesses at affordable low interest rates and with flexible payment terms that appropriately work for your cash flow.

It also has another lending program that caters for businesses that are looking for a better way to deal with daily fluctuations when it comes to cash flow. All you need to do is have a line of credit that can help you borrow the cash you require. This is a flexible way of borrowing and repayment, with competitively low interest rates and you only pay interest for what you borrow.

Hometown Community Banks also offers home mortgage loans that give the community a chance to own their dream houses. This mortgage loan program is community friendly, has a number of options that will fit your life stage and at favorable low interest rates. Whether you have located the ideal house or not you can still acquire a pre-qualification letter confirming the amount of money you are in a position to borrow.

Rewards Credit Cards

Among the most incentivizing offers of Hometown Community Banks is their reward credit card programs. Their Hometown Visa Gold Card gets you amazing rewards once you use it to purchase, you can choose between Scorecard rewards or Cash Back.

For the Scorecard option you earn points whenever you use it to purchase and later the points are redeemed into Scorecard rewards like air travel, cruises, hotels stays and dining, vacation packages and gifs. While as the Cash Back option makes it easy for you to keep money back into your pocket, each purchase you make with the card earns you an annual cash back reward. Hometown Community Banks of central Illinois have solutions to all your financial challenges.

5 Insight to Improve Your Company’s Client Billing System

Client billing and fulfilling invoices can often turn into a nightmare for small businesses and large enterprises alike. The billing process can be cumbersome for firms with a limited workforce that prefers to pay more attention to company growth than putting the invoices out. Even if the invoices are sent out promptly, it’s not certain that the client will pay on time.

Importance of Billing company billing

A company’s billing process and customer interface is as important as its service or product. Prompt billing is crucial to realize optimum cash flow, especially if the company is working on different projects simultaneously.

For accurate invoicing, you require precise data about varying factors. For instance, different rates may apply to different individuals, or the time of the same person could be billed differently. Prior to invoicing, calculate the rates and hours.

If done manually, the process could be tedious and slow. And any re-entry of data may lead to errors. Such issues accelerate with more workers. And if the billing is incorrect, payments may get delayed and client loyalty and confidence eroded.

Your goal is to ensure the client is happy with the payment terms and at ease with the payment methodology. The easier and sooner the bill, the quicker you’ll have revenue added to your working capital. Simply put, your firm’s profitability hinges on this “cash flow” function. Therefore, streamlining the billing process is vital.

The following are a few tips to improve your billing structure:

Prioritize Invoicing

Though this sounds like simple advice, make invoicing for the job your highest priority as soon as the project work is completed. In a business, workload keeps increasing and things could escape through the holes. Billing is not the reason why you started the business, so it’s likely it could be among the first casualties.

Proper & Timely Billing

Clients usually get miffed if the billing is not done on time and the details not presented the right way. Bill only those hours the client finds productive or offering some value.

For instance, do not bill your employee meeting hours or don’t start the billing clock as soon as the employee swipes in his card. Ideally, the bill shouldn’t include items such as team meeting, office conference, review of file, attempted to call, etc. that do not directly add to the file’s progress.

Do not bill until the client has seen the work product. Send the work summary to the client before he needs to make the payment. This demonstrates value and also indicates monetary gain is not your only motive. Bill on time and adhere to the structure. Timely billing helps the clients view their position and which increases your chances of receiving payment.

Provide Incentives

If a client pays on or well within time and resorts to your preferred payment method, let him know you’re happy. A good tip that many professional billing companies recommend is to offer prepayment discounts and coupons if the client is paying well in advance consistently. Such positive reinforcements won’t just ensure prompt payments going forward, but also a repeat customer.

Keep Some Leverage

Don’t deliver completely if your industry or service is based on multiple payments. If you deliver the entire product without receiving payment in full, getting either the product back or payment on time can be difficult. If your business is part of an industry where payment post work completion is normal, work with clients with good credit history.

Schedule Deadline Reminders

You need not keep pestering clients about billing and outstanding invoices. Reminders a day or week before deadline is reasonable and also often appreciated. Find out what shapes out perfect for your clients and business. Reminders are especially important if your company charges late payment fees.

The Evolution of Patient Billing Processes for Health & Medical Practices

The complex nature of medical billing and coding has changed extensively over the years. These changes in medical billing have taken place directly alongside the ever evolving technology of computer, digitization, and new ways of doing business. medical billing and coding

This trend is likely to continue as new ways and methods of handling medical billing and coding have arose and continue to evolve in modern business and work environments. As the frameworks continue to expand, so does the number of specialized billing consultants who offer focused expertise in certain areas of health care, such as surgery, chiropractic, OB/GYN, pediatrics and pain management.

What the future will bring to medical billing and coding is slowly taking shape and medical practices now are embracing the changes taking place within the industry.

Highly Specialized Billing Consultants

Soon there will be more and more medical billing consultants who specialize in helping the different types of practices. With the federally qualified health center reimbursement practices already in place, more and more qualified FQHC billing consultants will become available to the practices that need them and their help. Such is also the case with community health center (CHC) consultants as the CHC neighborhood health centers network has and continues to grow along with federally qualified health centers (FQHCs).

The fact that community health centers serve underprivileged persons such as those who have little or no income, those who do not have medical insurance or less than adequate health insurance as pertains to their individual needs and is available in areas where there is little access to primary health care. Low income families and individuals tend to need health care the most and the fact that there is a network in place to help them means the need for billing and coding specialists will only become greater as it has in recent years.

Mitigating Low Income Medical Billing for CHCs and FQHCs

The populations designated by the Health Resources and Services Administration are defined as having too few primary care providers, high infant mortality, high poverty and/or high elderly population. Health Professional Shortage Areas are designated by Health Resources and Services as having a lack and shortage of primary medical care, dental and or mental health providers.

As a result, these groups, depending the geographic location of a county or general service area, comprise of a demographic consisting of a low income population. These groups often rely on certain medical institutional environments like comprehensive health centers, federally qualified health centers, or other public facility serving the low income demographic.

With community health centers receiving funding from the federal government and also being locally funded, some of the health clinics within the network are quite surprisingly modernized with electronic medical records and new equipment and this trend is expected to continue due to the financial backing the clinics have which allows them to serve the many underprivileged patients who without programs being in place would rarely be able to afford to get the care they so desperately need.

FQHCs and CHCs are here to stay and will only expand thanks to the financial support already in place. The fact is medical billing and coding outside of medical offices and providers serving the wealthy and well off will see advancements in all parts of the medical industry mostly because health care is being provided and paid for.

However, for FQHC billing and community health center billing, the changes will be even more drastic. Whether by patients and insurance companies or by government assistance, science and medicine will only develop further which in turn will create a demand for more medical billers and coders and more efficient medical billing practices to maximize effectiveness.

Advanced Bank Security Systems for High-Profile Financial Institutions

Advanced Security Systems for Banks and FinancialBank security systems have drastically evolved over the past several years. More and more need for top notch security systems has grown, which has led to the various innovations in the technology of bank security and surveillance equipment.

The following are some of the most advanced bank security systems being used by high profile financial institutions as well as small credit unions and local banks alike.

Digital IP Surveillance Cameras

Nowadays, the adoption of user friendly and efficient digital IP surveillance has revolutionized the banking industry. 24-hour surveillance solutions have been adopted by both the banking and financing sector. This has made it easy to curb the problem of crime which has become a real menace, particularly with online transactions.

Digital IP surveillance systems are now being used in the identification of individuals whenever they enter an online banking platform. These are becoming a stable among innovative bank security systems, and they are being adopted by all high-profile financial institutions.

Advanced Video Surveillance Systems

There are high class video software that enable DVR/NVR configuration, live video viewing which can also be recorded for future reference, event search, system logs and firmware. The videos give alerts whenever any crime is committed and gives complete analysis of the surveillance taken.

Improved Visibility and Modes of Operation

The most recent security systems have enhanced vision and operations. The give vision of larger geographical areas and give comprehensive analytic rules. To boost operations, the video recorders have enhancements like high-quality imagery, high-class bandwidth utilization, operating systems are very secure and embedded and the interfaces are the best in the industry.

Dependable Surveillance for High-Profile Applications

This is essential for bank security systems to be top notch for high-profile applications such as financial transactions taking place in ATMs. This makes customers feel secure and confident to make business with the banks. Surveillance also makes it possible to monitor transactions and this makes the management team have a complete analysis 24 hours. Dependable security systems for banks and ATMs are vital for these organizations.

Safe Deposit Boxes

Developments have been made in these deposit boxes by enhancing the aluminum doors to have larger thickness that makes it hard to break through. The key slots are also being made unique in that one is different from one another. The addition of aluminum in the boxes makes them become heavier which is also a security feature that high-profile financial institutions have used to their advantage. This is because the boxes become heavy for them to be moved from the place that they have been put. This ensures customers’ valuables are safe.

Bank Vaults bank vault

These are crucial areas in any high-profile financial institutions. This is because they are used to safely secure vital assets of the company. The various security systems in place for vaults are the installation of strong and sturdy doors. These doors make it a nightmare for criminals to break.

The doors also stand the test of fire hence your assets will be secure in case of a fire outbreak. The panels are also thick and the locks can be reset easily by the owner to prevent access by unauthorized individuals. Some of the best bank vaults and doors for sale are Freedom and Legacy model bank vaults. You can see some of these advanced vault doors and bank vaults for sale at SeicoSecurity.com.

The above developments in security systems have offered security solutions to most of the high-profile financial institutions. This has enabled the institutions protect their assets and those of their consumers.

5 Tips to Improve Health Center Billing Practices

Keeping on top of your health center’s medical billing procedures is essential for maintaining and growing its revenue stream. Today, integrating technology is key to revamping the medical billing of any health care practice, along with making patient communication as clear and concise as possible.health center

In addition to improving efficiency and the work environment in general, employing techniques to improve your health center billing processes can equal a significant increase in revenue. Here are five ways to improve your health center billing practices.

1. Electronically organize patient health records

It’s true that keeping hard copies of medical records is a good practice, and even a legal requirement in many cases, but this method of organization should primarily be used for storage. For the day-to-day use of patient records, electronic organization is not only more efficient, it is the best way to keep patient health records secure.

Rather than sending files from practitioner to practitioner, or moving this information around internally for review when processing claims, having patient information available at the click of a button will lighten your health center billing work load. Electronic organization also allows for patient records to be updated almost instantly, which helps make billing and patient care more efficient. When investing in health center billing services, these solutions are typically a part of the program.

2. Use high quality medical billing software17 OTIxMDYxMzM3OC5qcGc=

Note that the suggestion isn’t to simply use medical billing software, but to make sure that it is of high quality. With all of the ever-changing billing codes for various insurance plans, Medicaid, and Medicare, choosing billing software that includes frequent automatic updates can be a great convenience. The more up to date your software is with the latest medical billing rules, the less likely it is that your health center’s claims will be denied.

3. Clearly communicate with patients

When patients know what is expected of them in terms of payment, as well as what billing options your health center offers, they will be more apt to not only take care of their medical bills, but to do so promptly. It’s best to not only provide billing and payment information in patient contracts and paper handouts, but to also post it in patient waiting and check-in areas, your reception desk, and you can even post this information inside exam rooms. Use layman’s terms, avoid technical jargon, and aim to make your health center’s billing and payment terms as visible and understandable as possible.

4. Make use of data mining

Pulling accurate reports improves the level of service that your health center provides, and it can also be invaluable when it comes to decision making. If you choose good medical billing software program, it will likely come with the ability to create custom reports manually or automatically. These reports can then be analyzed to check for payment and billing errors — reducing billing errors is an important part of increasing your health center’s revenue and percentage of approved claims.

5. Aim to get billing right the first time

Each error or piece of missed information makes it more likely that claims will be denied, which is a sure way to see your health center’s profits and efficacy tumble. Careful attention to detail on the part of staff is one part of the equation, but an efficient electronic patient records system and high quality billing software can help ensure that manual and technical errors don’t go unnoticed before a claim is initially submitted.