Full-Service Revenue Cycle Management
In an era of declining reimbursements and high-deductible health plans, profit margins are tighter than ever for most medical practices. That’s why having an effective revenue cycle management system is so important.
Positive Daily Cash Flow
Our expertise in managing medical insurance claims, billing and accounts receivables for all healthcare specialties, such as ambulatory surgery centers (ASC), chiropractic, dental, durable medical equipment (DME), neurology, neurosurgery, optometry, ophthalmology, pain management, radiology and more, means more accurate coding, fewer denials and increased cash flow.
More Time for Patient Care
We’ll take care of all the administrative details—even eliminating the hours you and your staff spend on the phone with insurance companies. The result: more time to see more patients and generate more revenue.
No need to worry about delayed payments, planning for staff vacations, unplanned sick days, staff turnover or costly re-training.
We eliminate the PHI worry factor by complying with the highest levels of privacy and security at every point in the revenue cycle management process.
Services tailored to your practice
Eligibility and Benefits Verification
Verifying a patient’s insurance eligibility and benefits is a critical first step. We ensure that demographic and insurance data are correct by verifying plan coverage and the amount a patient may owe (e.g., co-pays, co-insurance and deductibles).
Patient Demographics and Charge Entry
We take the worry out of entering error-free patient demographics before we file insurance claims. We understand the importance of accurate charge entry so your practice can collect maximum reimbursements, decrease payment denials and increase profitability.
The first step in the revenue cycle management process is making sure the provider has been approved by the insurance carrier. Our credentialing specialists simplify the process by submitting and tracking provider credentialing applications based on insurance plan requirements.
Our certified coders have extensive experience in all healthcare specialties. They’re well versed in CPT and ICD-10 coding, billing with code modifiers, electronic data interchange (EDI) processes, industry standards and maintaining 100% HIPAA compliance. We will bill the best way possible, adhering to strict coding and audit guidelines.
We know the ins and outs of your payers best. We’ll make sure your claims are clean and free from errors before we submit them—delivering a consistent and positive cash flow for your practice. Once we file claims electronically, most of our practices see insurance payments in less than two weeks instead of the 3 to 4 weeks that top commercial payers take.
Secondary Claims Filing
If a patient has secondary insurance, you can run into timely filing denials. Many payers require you to bill a secondary carrier within a specific period, after you receive the primary payment. We’ll keep those remits posted and claims processed daily.
We post payments that come in through Electronic Remittance Advice (ERA) and standard paper Explanation of Benefits (EOB) within 24-48 hours directly into your practice management system, so you have accurate and up-to-date accounts.
We can help you reduce the number of hours you spend each day on the phone with insurance companies, so you can see more patients and increase revenue. We’ll verify receipt of claims with insurance companies for you too.
Avoid delays in reimbursements with claim audits. Fast Pay Health specialists are experts at making sure your insurance claims are clean and free from errors. We review accounts receivable aging claims daily to see why open balances are still outstanding. We believe that preventing those rejections in the first place is the best way to expedite revenue recognition.
Accounts Receivable (AR) Clean Up
We review accounts receivable and aging claims daily to see why open balances are still outstanding. We analyze unpaid claims then take the necessary steps to recover the amount due.
Researching unpaid or denied claims is a time-consuming process. We analyze all unpaid claims and EOBs and take the necessary steps to correct and reprocess rejected claims to recover the maximum payment possible.
We believe in cross-checking every process, so our quality review team monitors every step of the revenue cycle management process.
Our comprehensive financial and performance reports analyze business trends, activity and the work completed for your practice, providing you with the insight into business strategies that will help you move your practice forward.