Precision Medical Billing was formed to provide healthcare professionals with an ultimately reliable and completely transparent medical billing service due to the observation of 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. On top of that, a significant number of claims were not even being billed.
Studies show that approximately 25% to 30% of all medical practice income is lost due to under coding, missed charges or unreimbursed claims. Under coding alone can cost a single medical provider thousands of dollars in lost revenue every year.