Revenue / Cash ManagementRevenue Cycle Managment Today, even the best-run physician practices are facing increasing financial challenges. Medical Practice Profits'™ preferred vendors combine advanced revenue cycle management technology and transactional support that can help you improve billing and coding, cliam submission, collections and cash flow - all resulting in enhanced reimbursement entitlements, faster processsing, higher percentages of collections, and enhanced profits. Electronic Claims Submission One of the fastest and easiest ways to dramatically impact cash flow is through the adoption of electronic data interchange (EDI) processing within your practice. With just your PC and internet access, we can provide electronic links with participating payors (Aetna, HealthNet, United Healthcare, certain BCBS programs) all at NO COST to your practice. By signing up for our NO COST electronic payor interface program, you can realize:
Receivables Financing / Medical Factoring Although we can help you speed processing of your medical claims, there are still times when you just can't afford to wait for the insurance providers, HMO’s or Medicare/Medicaid to decide to send you a check. Managing cash flow can be one of the biggest challenges that healthcare providers and medical office managers face in today’s tough environment. Because of the payment terms provided by medicare and insurance carriers, many doctors are waiting 60, 90 or even 120 days before getting paid for services rendered. Medical receivables factoring provides you with an advance payment based on your billings. This eliminates the cash flow challenges that are created by slow paying insurance companies and enables you to meet on going obligations, such as rent and payroll. It also allows you to invest in your business and grow it. Other types of practice financing for:
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