Revenue Cycle Management

RCM

Fox Meadows staffs a team of professionals responsible for executing all the key components of your revenue cycle. With a wide variety of specialty and primary clinics and a client list from coast to coast, our team has experience with all the pitfalls that independent practices face. In order for physician practices to remain independent and in business, cash flow and compliance are critical. Successful adjudication by the insurance companies and optimal patient collections are the keys to success.

 

Fox Meadows averages a denial rate 47.77% lower than the national average. Our clients see on average a 33.44% decrease in their days in A/R.

How many of these issues apply to you?

Click on an Issue to read Our Solution
Issue: Our billing department expenses are too high and staff turnover is an issue within our specialty.

Solution:  Overhead expense reductions and reassigning staff to other revenue generating opportunities are real possibilities. You will no longer have to fight the turnover and recruitment battle.  The Fox Meadows RCM team has over 20 years of experience in billing for numerous specialties and maintain an aggressive continuing education schedule to stay on top of the latest rules, guidelines, and trends.

Issue: Our billing staff does not have enough time to post charges, payments, and work our pending accounts receivable.

Solution:  We will staff your account with the precise amount of resources necessary to work your revenue cycle in its entirety every day.  In addition, we will assign an account manager whose sole job is ensure you are receiving maximum reimbursement for the services you perform.  Your account manager will analyze billing trends, help improve staff workflows, and alert you to any corrective action needed in a swift and timely manner.

Issue: Our current software or RCM company over promised and under delivered in terms of service level.

Solution: We are a complete RCM solution.  We enter charges, payments, file all claims, and work any rejections or appeals.  Your patients will contact our team with any questions regarding their statement.

Issue: Our current billing service is not forthright with information concerning our financial status.

Solution:  We firmly believe in complete transparency.  You will have 24/7 access to all of your financials.  Many providers manage their business based on bank balance.  We will teach you how to easily look at your practice management financials and verify the quality of work performed.  You will meet with your account manager once a month to review previous month results and any other agenda items.

Issue: Our accounts receivable grows on what feels like a daily basis.

Solution: While the working of A/R is the most time consuming part of the revenue cycle, we focus on getting your claims out clean and paid the first time.  However, if we do receive a denied adjudication we will quickly work it to closure.

Issue: Our provider cannot properly code their office visits and miss modifiers that result in rejections and reduced reimbursement.

Solution: We have certified coders on staff that can provide resources to reduce coding frustrations and to help make sure you are billing for all services performed.

Issue: Our current billing staff struggles with charges for services that take place outside of the office.

Solution: We understand that paper will continue to exist for encounters such as hospitals and nursing homes.  All you have to do is drop that information in the scanner upon return and we will take care of the rest.

Issue: Our Insurance EOBs are not posted properly which result in patient calls when we send statements.

Solution: Not correctly posting can lead to cash flow interruptions, compliance issues, and confused patients.  We take every measure possible to ensure that EOBs are accurately posted, which results in you being confident in the statement a patient receives.

Issue: Our billing staff is overwhelmed with paper from EOBs to Superbills.

Solution: We will convert your EOB’s to electronic remittances so you are not burdened with paper.  We will implement a provider friendly electronic superbill that will replicate your current superbill.

Issue: Our billing staff does not have any workflow for prior authorizations.

Solution: We provide an authorization tracking module which will keep your pre-authorizations well organized and simple to track.

Issue: Our providers don’t have time to review complicated reports.

Solution: We will provide Dashboard Reporting and as much detailed reporting as you need to feel confident in the financial status of your business.

After reading these issues and our solutions, do you think we can help your business achieve better financial outcomes?  If so, please schedule a consultation today.