Tag Archives: billing

How to Find a Competent FQHC Billing Company

An FQHC billing company may be the solution you need for your local health center or FQHC practice. FQHC stands for Federally Qualified Health Center, and there are many specialized billing companies that can take care of your FQHC billing needs.

When FQHCs hire the services of a FQHC billing company, the physicians and medical staff of the practice can spend more time focusing on their patients’ needs and the health practice as a whole rather than worrying about the billing process of their practice.

What Defines Specialized FQHC Billing Companies?

FQHC billing companies staff experts that specialize in the unique and challenging billing processes of both FQHCs and related health practices. They provide for their customers (both doctors and patients) highly-specialized billing services that target the specific challenges and hurdles that FQHC face in getting timely payments from patients.

Such a company’s FQHC billing services are all in accordance to all state legal regulations as well as ethical regulations of industry set guidelines to avoid you getting in legal trouble. They provide service and experience to train you in the use of technology, pricing and an increase of new clients.

The FQHC billing companies offer solutions to practices that enable them to be able to become more capable and efficient every day while making the most out of your returns, increment your income, improve your billing services for faster pay and claim submissions to accelerate their reimbursement.

What To Look For In A FQHC Billing Company

Some of the things you want to look for to determine the competence of a FQHC billing company is the jobs they offer; some of these include but are not limited to: data transmission- entry, update of old data and storage of new data, information sharing, security and recovery process, the filing of reports, credentialing, analysis, and promotion of business within their community and customers, coding and access to web portals as well as patient invoicing and billing follow up to ensure the payment of clients.

Another thing to look for while you are in search of the best company for you is the customer support they provide; ask yourself or them questions like, how can I contact you? Where and when can I contact you? Do you offer one on one consultation? Make sure they answer in ways that make you feel safe and make sure you feel they can guide you through both problems and solutions.

What To Expect From Your FQHC Billing Provider

Your FQHC billing company should help you from the very beginning of establishing a more effective billing system. They should also help throughout the course of their services, from getting you started with enrollment, training of your office, processing, electronic billing – payment processing and posting. The billing company should also help facilitate information technology updating, statements, claim follow-ups, consultations, tracking, analysis of patient records.

In short, your FQHC billing provider should excel in claim generation and submission plus the follow up they require and internal auditing. Make sure you do not only take into account the amount of years the FQHC billing company has had in the market but rather study its history in the different areas, what is your practice’s main procedure, do they cover it? What areas do they excel or have more experience in? How are they charging you –percentage, fee or a flat amount for their services?

We recommend you to make a list of these questions so you can be better prepared when choosing your FQHC billing company make sure you feel trust and have enough background knowledge of the company you will choose to have your back as well as your clients!

7 Billing Strategies to Improve Your Practice’s Cash Flow

medical practice billingLike any business, cash flow in a medical practice is quite vital for the health and sustainability of the organization. Maintaining sound cash flow is one of the most essential strategies over the short term, but also has long-term implications regarding the viability and profitability of a medical practice. This particularly the case for specialized practices, such as local health centers, surgeons, cardiologists, and other types of medical practitioners.

Medical billing is perhaps the most important aspect that influences healthy cash flow. There are several billing strategies that help to boost and also sustain the cash flow for health and medical organizations. Here is brief guide on how to improve billing efficiency and efficacy to better optimize the collection processes as a medical practitioner.

1. Regularly Update Patient Information

One thing that affects the response of the patient is the content of their data in their medical files. If the information is obsolete, the patients might lose interest in them. There will also be less trust of the patient, in the given medical institution.

2. Take Preliminary Steps

You will also need to take necessary steps when making a claim. In case the claim is not paid when it has been submitted, it might never be paid in the future. Usually, many people tend to ignore stuff, which makes it challenging. A great way to optimize medical billing processes for your practice is by catching any possible rebuff prior to submitting the claim.

3. Consider Full Payments

Underpayment is a major challenge when the practitioners are collecting their money. This will generally affect the process, whereby, the money will keep accruing and the final amount might not be fully paid. Since the medical practices give individual contracts, there are compensation of a different amount, so it won’t be easy to track down underpaid returns.

4. Check For Any Error In Coding Along With The Deadline

Any slight error made in the coding can affect the final amount, which will mean that the payment made will not be accurate. This will also mean that there won’t be a healthy cash flow. You should also ensure to check for all the related deadlines.

5. Always Report & Communicate

It is quite vital to make rational decisions, which allows you to achieve data for the collection and billing of trends. This helps to determine where the practice can enhance. You can use a reliable software system that will schedule the reports that are to be created in a specific period of time. The report will be created in specific periods and also, it helps to specify the information that is most urgent. This will help to avoid any miscommunications or troubling situations.

6. Utilize The Medical Claim Denial Appeal

This helps to take the load off your shoulder, you will be able to have more claims covered and it will also boost your cash flow. This is because as more claims are made, they will also be fully paid. For more insight on this, check out this great blog post on appealing denied health insurance claims.

7. Seek Billing Services From a Professional Agency

As a medical practitioner or health and medical organization, you may not have the internal resources in place to effectively improve your practice’s medical billing procedures. In situations like this, we highly recommend hiring or outsourcing medical billing services to a professional agency or specialists.

The nice thing about today’s highly specialized medical billing profession is that you can find services that are specific to your medical practice. For instance, if you are a surgeon, you can find surgery billing services that closely aligned with your billing practices. Furthermore, if you are a cardilogist, you can find cardiology billing services that provide high-return solutions to optimize your medical practice.

You must always ensure that you have stable strategies to increase cash flow and ensure that the collection is also well taken care of. The health and medical industry is constantly evolving, requiring practices to adapt to not only survive, but to thrive.