Medical Billing
Over the last several years, members of our leadership team observed a disturbing phenomenon. In our roles as practice manager and controller, audits of our clients’ third party billing services revealed that an alarming number of claims were not getting paid. Even worse, a significant number of claims were not being billed at all! As a result, we formed Precision Medical Billing to provide health care professionals with an ultimately reliable and completely transparent medical billing service.
Studies—and audits of our own clients—show that approximately 25% to 30% of all medical practice income is lost due to under pricing, under coding, missed charges or un-reimbursed claims. Under coding alone can cost a single physician $40,000 in lost revenue each year.
- Are you sure that your current billing company is actually billing?
- Are you sure that your services are being coded correctly?
- Are you sure that your billing company is doing enough to collect outstanding payments and to resubmit claims?
Precision Medical Billing will give you peace of mind that absolutely everything is being done to collect the revenue you have earned as quickly as possible. We become intimately familiar with your practice and are personally invested in your success. What we do for you…
Auditing and Training
To prevent errors involving missed charges, we continuously audit coding, demographic recording, etc. and work with your staff to provide training and advice about proper coding and procedures.
Any Software, Any Claim
At Precision, we do not require your office to conform to a particular billing software. Rather, we work with whichever software you and your staff prefer. We also file paper claims at no additional cost. We handle occupational and workers compensation claims as well.
Claim Submission & Review
When claims are received in our office, they are processed by the following business day. An experienced account specialist reviews every claim using state-of-the-art medical coding software. Meticulously attentive to detail, our team ensures that every claim is instantly checked and cross-referenced against the latest coding procedures so that every claim we file is accurate and compliant.
Comprehensive Follow-up
Our dedicated follow-up and customized service is what truly distinguishes Precision Medical Billing from the competition. Some medical billing services concentrate their efforts collecting primarily from the initial electronic claim filing because it is the easiest to collect. But, at Precision, this is just the beginning.
Our dedicated follow-up includes:
- Claims inquiry shortly after submission
- Secondary claim filing
- Patient balance billing
- Insurance inquiries and appeals
- Reminders for patients in arrears
- Creation of patient payment plans
- Continuous billing cycles for patients
- Recovering accounts receivable
- Resolving past due claims
- Managing collections
While other billing services may make a limited number of attempts to collect past due accounts, Precision Medical Billing will make every attempt to collect payment from insurance companies and patients. At Precision, we are committed to diligent follow up on ALL outstanding claims, no matter the charge or reimbursement until payment or processing is finally resolved.