Login

Blog

Ideal Medical Practice to Improve Productivity and Revenue

Ideal Medical Practice

MDofficeManager, located just five minutes away from downtown Louisville, KY, is a complete and customizable healthcare IT solution provider, and, utilizing a cloud-based system, allows for us a distinct advantage in being able to speak with individual practices, hospitals, ambulatory care centers, and many other healthcare entities.  Our unique model is based upon our ability to cover the continuum of service offerings, e.g. coding/billing, transcription, credentialing, accounts receivable, credentialing, PMS, EHR, FREE interfacing with a current EHR that a healthcare entity may already have in place.  Our goal is to be a consultative partner, and to be a “solution-oriented, problem solver” organization which can assist within any facet where a particular challenge or “pain point” may be present. MDofficeManager’s core philosophy is to generate a greater revenue stream, cut costs, and to improve efficiencies.  With all three working in synchronicity, then BOTH productivity and revenue are the positive beneficiaries.

If you are like most primary care physicians, you probably have had enough of third parties injecting themselves into the front lines of medical care in ways that offer marginal value and drive up costs. Pre-authorization requirements, productivity benchmarks, competing clinical guidelines and pay-for-performance initiatives are just a few of the challenges we face as primary care physicians.  MDofficeManager has the capability to not only address, but to RESOLVE all of these challenges.

What can physicians and providers do to ensure adequate compensation for their work? They have to redesign their practices to optimize efficiency and show that they can not only deliver superb care but also lower the total cost of health care. The “ideal medical practice” model can move us closer to this goal.

What is an ideal medical practice?

What do you get when you mix low overhead with high technology and wrap it around an excellent physician-patient relationship? In one word – MDofficeManager. In an ideal medical practice – a practice model designed to enhance doctor-patient relationships, increase face-to-face time between doctors and patients, reduce physician workloads, instill patients with a sense of responsibility for their health and cut wasted dollars from the entire system. The key principles ideal medical practices pursue are high-quality, patient-centered, collaborative care; unfettered access and continuity; and extreme efficiency.

THE MARK OF AN IMP (Ideal Medical Practice)

 Ideal Medical Practices

Typical Practices 

Care is driven by the patient’s needs, goals & values Care is driven by the patient’s priorities
Access is 24/7 Access is 9-5
The care team uses technology to its fullest (e.g. EHR, email, Internet scheduling) The care team avoids new technology
Overhead is low Overhead is high
Patients are seen the same day they call the office Patients typically wait for an appointment
Physicians are able to see fewer patients per day of visits per day to cover overhead Physicians must generate high number
Practices measure themselves regularly data Practices have little or no performance
Practices are proactive in their care of patients with chronic illnesses Practices are reactive in their care of patients w/ chronic illness
Physicians are satisfied and feel in control Physicians feel harried & overbooked

What is important in an IMP (Ideal Medical Practice)

  1. Efficiency
  2. Access
  3. Quality
  4. Care coordination

Revenue Cycle & Productivity Management

MDofficeManager, has led the charge in higher revenue, in conjunction with higher productivity in healthcare facilities throughout the USA.

The revenue cycle management for medical practices has become more complicated than ever. With ever-changing insurance, company policies, government policies, compliance regulations and healthcare reforms, it has become difficult for physicians and their staff to keep pace. This results in incorrect or delayed filing of claims and poor reimbursements. Good medical billing services can help you streamline your revenue cycle and get better reimbursements, thus saving you precious time and effort and letting you concentrate on patient care!

With our premium online medical billing services, collection rates will dramatically increase, as will your peace of mind. Also, processing costs are reduced by as much as 60%. We file both electronic claims and paper claims to over 1500 payers across the United States. We have certified medical billing experts at our disposal who focus only on billing, so unlike your front office staff, who have to take care of other things in your practice, we bill accurately, dropping the rejected claims rate to 2%-3% and not 30%.

We file both electronic claims and paper claims to over 1500 payers across the United States. You have certified medical billing experts at your disposal who focus only on billing. We bill accurately the first time, dropping the rejected claims rate.

Our Complete Medical Billing, Coding System and Credentialing includes the following:

  • Patient Registration and Verification: We enter the patient demographic information and verify its accuracy.
  • Eligibility and Benefits Verification: We check the benefits and eligibility of the patients before the provider renders service and records it in the Practice Management System.
  • Coding: Coding for diagnosis, services rendered, and appropriate modifiers is verified and set.
  • Charge Posting: Charge information is entered into the system for medical billing claim generation after a thorough reconciliation from both the provider’s office and MDofficeManager.
  • Claims Management: E-claims and paper claims are generated and sent out to payers via a medical billing clearinghouse. Claim receipt acknowledgements are checked and unsent claims are re-filed. Payer responses are checked and processed.
  • Payment Posting: ERAs and EOBs are processed and payments are posted into the system.
  • Denial Management: Claims denied on EOBs are corrected and re-filed or appropriately appealed.
  • Reports: Monthly billing summaries with collections, billables, and outstanding AR’s will be provided. Client-specific reports are also submitted monthly and/or yearly. You can generate 250+ different reports and see what we do anytime.
  • Credentialing/Re-credentialing Services: We make sure your provider’s record is up to date with all insurance companies.
  • Clearinghouse or statement mailing there are NO added charges for these services.

The MDofficeManager medical billing company provides integrated revenue cycle management, practice management to ensure the financial growth and success of your practice.

 

Leave a Reply