Physician Medical Billing Services
If you are tired of seeing the money you work hard for every day flushed down the toilet by bad billing,even worse collections, and no patient follow up? How long will you continue to allow your practice to fall apart around you while you continue to work hard every day?
Mad? Angry? I hope so. Because you have to get angry before you can fix something this big.
Are you being squeezed by the insurance companies? Do you feel like your hard earned money is just being thrown away?
If this is how you feel, you should consider outsourced physician medical billing services. Take charge of your billing, and stop throwing money way each month.
If you had depression you would see a psychiatrist. If you had digestion issues, a gastroenterologist would be the one to see. These are specialists. Quality physician medical billing services are specialists. Why would you let your medical billing be handled by someone who isn’t a specialist? Someone who doesn’t go to school to keep current?
Billing for physicians requires a special person. It takes someone who can keep organized. How many people has your practice gone through? How many were organized?
Here are some benefits of outsourced physician medical billing services
- No staff turnover…Don’t worry about hiring and training new staff
- Don’t have to pay employee benefits
- Don’t have to be worried about your billers missing work
- No interruption in cash flow due to missing work
- Increased and more predictable cash-flow
- We stay current on the newest regulations and coding requirements
- Increased accountability
- Full-time attention given to your cash flow
- Claims filed daily
- Increased patient satisfaction (due to prompt and accurate claim filings, monthly and timely statements, and their calls answered by a real person)
- Let’s you get back to taking care of your patients
WARNING! Not all physician medical billing services are created equally!
There are many schools that produce “medical billers”. They have 4 weeks of training and then they start the own at home physician medical billing services. Your finances are too important to put into the hands of someone like this.
Here are some things to consider when hiring a physician medical billing service -
- How long have they been in business? Our company has been in business for 13 years.
- How large is their staff? Our company currently has 18 people on staff.
- Can they provide referral? Yes, absolutely.
- Are any of their billers certified? Yes, all have various levels of certifications.
- How often will you receive reports? Daily.
- Do they charge for reports? No.
- Do you have access to your data? Yes, its on your computer in your office.
- Who owns your data? You do.
If a physician medical billing service can’t answer these questions, run away as fast as you can.
Ok, so you’re interested and would like to know more about our process.
How does it work?
Think of your practice as a bucket holding water. The water represents the money you are bringing in. Now think about that this bucket has holes in it allowing the water to drain out. Every practice is different. Some have small holes and some huge gaping holes that allows money to just gush out. Most practices leak some money, its just a matter of how much.
Iron Comet offers the StopLeak Physician Medical Billing Services ©. Our services act as plugs to these holes. We do an assessment of your current status and then put a plan together to plug the holes of your individual practice. Not all of these will be directly related to the submission of insurance claims. There are many other ways that practices can leak money.
Examples include -
- Poor follow up on denials
- Improper pre-certifications
- Statements not being sent timely if at all
- Patient collections
We will work with your practice to address the leaks specific to your practice and begin plugging them so you can retain your hard earned money.
Medical Billing Process
Your information never leaves your practice. We will remote into your server and perform the work on your computers. We will transmit your claims from your computer. This way, you are always in total control of your data and are free to log in and pull your own reports to verify everything we provide to you.
All superbills and EOBs will be scanned at your into your server. We will access them remotely from our office here. That saves postage to mail everything to us.
Once we receive your daily charges, we enter them into your system and transmit the claims. Claims are transmitted within 24 hours of us receiving your scans.
You will receive a daily report on what claims were received that day, what we transmitted, how much was collected, and what we are missing for claims (demographic information, missing superbills, etc.) See example daily report.
All payments and EOBs will be delivered to your office. We do not receive those in our office.
Each month, you will receive a monthly report, a deposit report for the month, and an AR report. You are able to access your own system at any time to verify the information we provide.
We send statements once per month to all patients with a balance.
Included with our physician medical billing services
- Verifying patient demographics for completeness and thoroughness
- Posting charges
- Corrected denied claims
- Claims submission
- Carrier billing
- Insurance and patient follow up
- Patient billing with monthly statements
- Appeals for denied claims, when necessary
- Pre-authorizations and pre-certifications (for an extra charge)
What are the costs for our physician medical billing services?
There are no upfront or setup fees. The fees for our collections are determined by the size of your practice. The higher your monthly income, the lower our fees for service is.
We do not charge for co-pays or self-pay patients. We only collect a percentage on what we actually collect for you.
- $0.00 – $74,999 = 6 percent
- $75,000 – $199,999 = 5.5 percent
- $200,000 – $299,999 = 5 percent
- $300,000 – $399,999 = 4 percent
Statements are $0.70 per statement