Tag: medical billing

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.

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.