Using a top medical billing services company can provide you with ROI (return on investment). Most physicians, clinics, and groups that perform medical billing in-house incur high costs and collect a significantly lower percentage of claims then which they are entitled to . They have to incur the costs of personnel, software, and hardware, which can costs tens thousands of dollars per year, at a minimum.
At MpowerMed, we collect greater than 98% of claims we process and our fees are based solely on the amount of successful collections by us. We process and collect claims in an average of 30 days resulting in faster and more positive cash flow to you
What would your specific ROI be if you used MpowerMed as your medical billings company? Give us a call, and we’ll be happy to run the numbers for you.
Our Billing and Collections Services Include:
- Track demographics, insurance information and charges.
- Bill self-pay and third party payers.
- Perform follow-up/collection of outstanding claims and posting of payments.
- Track receipts of EFT and Lock Box payment.
- Establish/maintain charge master file (includes standard gross charges and Medicare fee schedule).
- Calculate, pro-rate and post third party payer receivables.
- Maintain/supervise receivables (includes follow-up activity, payments and adjustments).
- Meet with clients on a monthly basis to review account status and activity.
- Design superbills.
- Generate monthly productivity and financial reports.
- Enroll in ERA and EFT.
- Clearing House set-up.
- Send out patient statements on monthly basis.
- Create and evaluate fee schedules.
- Track claims directly from clearing house.
- Record and reconcile insurance and patient payments.
- Prepare appeals for denials; challenge insurance companies to receive the correct reimbursement.
- Scrub the claims.
- Transmit electronic billing.
- Generate Practice Analysis reports.
- Scan for speedy submission of second claims.
