Financial Management
The effectiveness of your practice's financial management has a direct impact on its level of profitability. However, with so many other tasks requiring your attention, coming up with the resources to manage your finances on your own can be a challenge. As a result, many practices find themselves using incorrect codes, dealing with frequent claim denials, losing money in audits and giving up on overdue accounts simply because they don't have the time or money to pursue them.
Practice Provider eliminates all of these problems by bringing together industry experts and innovative financial management solutions that even the smallest practice can afford. If you choose financial management services from Practice Provider, we will provide you with the tools and assistance you need to achieve maximum profitability and efficiency. Our team will:
- Develop and implement revenue cycle management and accounts receivable management.
- Evaluate and improve front-end operations, including scheduling, insurance verification, authorizations, co-pay collection, medical record process, etc.
- Audit medical record documentation, encounter forms and coding.
- Evaluate charge audit, charge entry and fees.
- Implement accounts receivable follow-up, including paid claims, unpaid claims, denied claims, insurance collections and patient collections.
- Review net charges and cash collections trends, days in accounts receivable and the percent of accounts receivable aged more than 90 days.
Failing to manage your finances properly can lead to lost revenue, problems with compliance and the ultimate failure of a business. Enjoy increased profitability and reduced risk with a customized financial management program from Practice Provider.
