Do you have the skills? What are the processes? How does all this work? We know you’re shopping around looking for a service, otherwise you wouldn’t be here. We’ve put together a comprehensive list of subjects we typically encounter when a potential client calls us. If you don’t see what you’re looking for, reach out to us. We’ll be excited to hear from you!
So What's All This Cost?
Our belief is that building a team approach with your front office & our billing staff will lead to long-term success and a healthy partnership with your practice. We will train your staff on proper demographics entry, document submission, and give constructive feedback on office workflow based on detailed system analysis. Our professional billing team will work closely with your front office to ensure claims go out quickly and cleanly.
We understand that filing insurance claims in a timely manner is the key to maintaining a steady cash flow. Claims are submitted electronically, either exported from your facility in an electronic format or imported from your EHR system. Billing is processed within 1 business day or as quickly as a few minutes from the patient visit, if you are using one of our interfaced EHR platforms for charge submission.
Our billing team uses payer-integrated management software to reduce denials & limit rejections. At our satellite office, we will review billing code usage & scrub claims for CCI Edits prior to submission. Within 24 hours, we receive electronic insurance correspondence from the appropriate payers.
Electronic funds transfer (EFT) enables providers to receive claim reimbursement safely and securely by direct deposit to a designated bank account at the financial institute of the providers choice. Enrolling in EFT means you will receive payment days sooner than receiving payment by mail.
Quicker access to your reimbursement – no longer will you have to wait for your checks to arrive.
Increased administrator efficiencies – let the insurance carrier make the deposits for you.
Eliminate lost or stolen checks – lower your embezzlement risks.
Increased security of patient information – decrease the risk of fraud.
Once insurance has paid and our staff has posted payment, we will follow-up with patient responsibility (if applicable) through weekly statements and courtesy phone calls. All statements include our toll-free number for patients calling in with related billing questions and payment information. Our operators follow strict rules with disclosing patient information in accordance with HIPAA guidelines.
We also work with your existing policies regarding patient payments and discounts (as necessary) to ensure we collect remaining balances from patients according to your desires and expectations.
Did you know the national average of denied claims rate is 30%? Did you know of that 30% only 50% of those claims are resubmitted? We have a dedicated team following up on pending claims, initiating collections, finding out reasons for denials of claims, and tracking outstanding receivable balances. We make your receivables turn into cash.
Ready to have a team of billing scientists behind you?
When you partner with us, you don’t just get a billing company. You get a team of Accounts Receivable Specialists, Claims Processors and a Management Team to guide you through the steps of working with us.
We know everything comes down to cost. At Physicians Advantage, our pricing is customized to your needs. Want ePrescribing? We’ve got that. Automatic eEligibility review? Check. Looking to change your EHR? Let’s go.
Our average billing fees range from 4.1% to 10.2%, and this includes a lot of cool stuff like eDocument storage, clearinghouse fees, on demand reporting, 24hr access to your data, Practice Management licensing and your own team of collection experts.
We’re sure you have additional questions, and we’d love to hear from you. Go ahead, ask away.