Practice Management: Making Medical Billing Easy for FQHCs

Practice Management has been cultivating expertise in medical billing management for more than 2 decades now. With their experience in billing for FQHCs and various other medical practices, the company has been in a position answer more than 100 frequently asked questions about Federally Qualified Health Centers medical billing and all aspects of the health facility revenue.

Medical facilities and healthcare service providers are often faced with a dilemma of which services are eligible for FQHC billing. Consultants at Practice Management have diversified their services to helping clients with reimbursement, patient claims, etc. This company knows that numerous medical issues arise, and most of them are unique to the hospital or service provider. Therefore, it's the medical billing company's responsibility to determine whether the new or unique services are eligible for billing hence reimbursement under the FQHC patient billing.

The scope of the Practice Management is to help FQHCs maximize their revenue from the services and treatment they offer all of their patients. This company utilizes state of the art modern medical billing software technologies that make the process of recording, submitting and following up on claims quick, transparent and easy. The company has dedicated staff who deliver more than their client’s expectations when it comes to identifying and updating health services that are eligible for claims.

An Influencer in the Medical Billing Community

As a leading FQHC medical billing company, Practice Management is always ahead of the community when it comes to the latest information and medical billing practices. The company must know the progress in the health sector with regard to the purpose and function of different stakeholders. For example, both the insurance companies and the federal government update their health policies. Financing and spending are always a highly sensitive topic.

For this reason, a medical biller should bring to the table, interpret and execute the updated financial and non-financial policies for the healthcare provider. Practice Management is up to this task and is likely to update the billing system to include at least two new inclusions to the billing system for the healthcare services provider.

If your healthcare facility is FQHC approved, experts at Practice Management will be quick to remind you that insurance companies will not come up front to suggest the new inclusions in billing. You're responsible for billing and submitting your claims, but your billing company is more responsible is assisting you to do this. Practice Management is best at this.

FQHC Billing Consulting Services

The best FQHC medical billing consulting company in the U.S. market today is responsible for health facilities sustainability. Patients, employers who are submitting employee medical insurance and insurance companies who are reimbursing health charges will not be quick to submit funds to health care facilities for any services.

Each of the above stakeholders is working to protect their economies. Health facilities, being polite and providing humanitarian services, will be vulnerable. It won't be a good picture to offer high-class health services, without watching the impact of insufficient funding.

Practice Management deploys highly qualified accountants who will review and audit the FQHC health facility’s revenue cycle to determine the correct maximum income that will favor the facility’s economy. To learn more about Practice Management's FQHC billing services and consulting programs, visit MaximizedRevenue.com.

Effective Medical Billing Strategies to Increase Healthcare Reimbursements

It is an undisputed fact that the healthcare reimbursement system (as it is) can be described as brutal. The present set of processes and rules that some payers and insurance companies have put in place are not only complex but also confusing. This leads to the emergence of other problems like underpayments, denials, ignored or at times lost claims.

This has hugely contributed to issues when it comes to paying doctors in time as well as medical practices getting the revenue they generate in full.

This begs for there being in place effective strategies and insights that will help medical practitioners and health centers to improve their patient billing processes. This will help them generate more revenue as well as increase their healthcare reimbursements.

Use of Technology

Whenever a medical practice realizes that a claim is not paid for when they submit the claim for the first time, they should brace themselves that it will not be paid. In order to escape losing out on claims like this, the practice has to find ways that will help it establish potential denials before even submitting their claims. Medical practices could be able to achieve this feat by incorporating software in their systems that is capable of identifying claims with a high probability of being denied automatically.

This billing software utilizes an engine that is intelligent and one that adapts and updates itself constantly thus helping practices to stay informed and alert about denial trends that are latest in as far as claims are concerned. This will greatly improve the rates at which practices collect their revenue. This software is generally able to help the practices improve on the speed at which they collect, decrease the need of having in-house staff as well as increase first pass resolution rates.

Tackling Underpayments

Payer underpayments are another issue that keeps medical practices from collecting their full amounts of revenue. This is largely due to the different individual contracts doctors often enter into with different payers. Underpayments are far too common in situations for health center billing, specifically federally qualified health center billing (FQHC billing), as these community health centers are focal to serving low income patients who utilized Medicare and Medicaid.

This is the key reason why medical practices receive different amount of monies from the different payers. This makes it hard for the practice to keep track of the payments and hence making it even harder for them to realize when they are being underpaid.

It is for this reason that practices ought to turn to using medical billing software that is able to compare the payments it is receiving against the figures agreed to in the contracts automatically. This will largely cut short the number of payer underpayments scenarios. It will also increase the net collection rates, increase organization and efficiency of the practice and make it possible for the practice to forecast its collections in future.

Reporting

In order for a medical practice to realize its position as far as payer payments and collection rates are and the areas that need an improvement, reporting ought to be embraced. This can be done with software that is capable of allowing scheduled reports on the practice to be done at defined intervals.

This will give the practice the opportunity to have certain reports in an instant whenever it is needed. These reports make decision making easier, increase productivity (as it reduces staff requirements and make it easier to spot payer underpayments and other mistakes.

All the above solutions will ensure that your practice is able to collect more revenue thereby turning them into more revenue generating practices. They will also ensure that the practice increases its healthcare reimbursements. It also makes the collection of monies owed to the practice easy, fast and efficient.

For more quality information on how medical practices and health centers can improve healthcare reimbursements, visit MaximizedRevenue.com