Cash is the lifeblood of any business, and healthcare services are no different. Whether care is provided by a hospital, physician practice, or other ancillary service provider, there are numerous obstacles to successfully navigating the medical billing process. Engaging The Fox Group to deploy its team of seasoned medical billing and collections consultants in your healthcare business means that you will benefit from industry leaders who have time and again successfully helped providers to streamline their revenue cycle management and improve their results.
Sample warning signs of problems with your medical accounts receivable ...
- Patient visits are stable, but the dollar amounts of accounts receivable keep growing
- The percent of overall accounts receivable that are over 120 days old is greater than 25%
- Days in accounts receivable are in excess of 60
Improve Your Revenue Cycle Performance with a Medical Billing Audit
A medical billing audit will assist your organization in identifying the underlying issues that may be keeping it from realizing its true financial potential. To that end, The Fox Group will assess your operation and measure performance from first point of contact to fully paid claims ... and everything in between.
Below is a sample of what our medical revenue cycle analysis will encompass ...
- Patient intake/eligibility verification
- Patient referral authorizations
- Patient copay
- Advanced beneficiary notice (ABN)
- Coding analysis and trends
- Charge capture assessments
- Patient charge ticket tracking
- Pre-billing review
- Clearing house communication
- Electronic claim submission
- Patient Intake
- Patient and insurance payment posting
- Patient account adjustments
- Unpaid and underpaid patient claims
- Denied claims
- Patient accounts receivable reporting and analysis
- Collections prioritization
- Practice management software analysis
- EHR/EMR integration issues
- Medical fee schedule analysis
- ... and more.
A Medical Billing Consultant Who is Outcome Driven
A medical billing and accounts receivable audit conducted by The Fox Group focuses on uncovering the opportunities for elevated financial performance. Our staff of professionals also stand ready to assist you with the implementation of our post audit recommendations and are focused on outcomes that will serve you for years to come. Through improved workflow processes, staff retraining, and the establishment of financial reporting systems, you can expect improved cash flow, superior internal control, and staff who are organized and productive.
We work throughout the U.S., so contact us and let us help you unlock the potential of your healthcare billing and collection processes.