Complete Practice Management. MBM offers a complete array of practice management arrangements fully customized to your needs. To learn how our professional services will benefit your medical facility regardless if its size, please review the topics below.
Cash Flow - Increase your cash flow by outsourcing your medical claims processing to Medical Claims Clearing houses. We professionally edit for potential rejection problems then submit all claims electronically providing for 100% error free processing with the medical provider being paid within 7 to 14 days! Paper claims have a high rejection rate on average of 25% to 30%.
Claims are paid in 7 to 14 days versus 2 to 3 months
Claim rejection rate of only .02% versus 25% to 30%
Substantially reduce aging balance accounts versus heavily managed aging accounts. Even your toughest rejected Claims get paid!
Electronic Claims Submission: Electronically edited claims submission is the most accurate and time proven way to submit claims for payment.
Detailed Financial and Patient Reporting: As part of the claims management process, MBM tracks medical claims receivables and provides you with up to date financial information to facilitate better management of your cash flow.
Eliminates training and cross training: Use your staff to increase productivity and patient care. The MBM staff stays abreast of the changes in the industry.
Patient billing: In addition, we offer patient billing services along with a variety of financial services to increase your productivity and profitability.
Merchant account available: We accept all major credit cards for your patients convenience when we handle your patient billing.
Reimbursement Management - Optimizing reimbursement is like trying to piece together a puzzle with a lot of pieces. Not only is there a lot of complexity, but change is continuously occurring. One of the main things that we at MBM have learned from experience is that there is no single answer, system or formula for health care providers to improve the amount of reimbursement on their insurance claims. There are a number of important factors. The first and perhaps one of the most common reasons is taken care of by the MBM Code Analyzer Program which is updated monthly from government sources Our procedure code analysis will identify if providers are using invalid, obsolete or deleted codes and the average fees nationally. Some other reasons are outlined below:
1. The code and
fees may be okay, but providers may be losing charge information,
missing superbill fees or billing insurance carriers wrongly or
2. The practice is not well-informed about current coding and billing issues.
3. The practice doesn't have and/or doesn't follow written policies and procedures which support the billing, coding and collections processes.
4. Not participating in Medicare may allow providers to bill higher fees to patients, but this may not be in the best interests of their practices.
5. Poor understanding of how insurance carriers work and ineffective strategies and systems for dealing with them.
6. The practice is not using forms and documents which are current.
In general, the basic tools needed by health care providers for optimizing reimbursement are:
A thorough understanding
of the billing process and related terminology.
Procedure coding and diagnostic expertise.
A well-designed superbill.
A fee schedule based on relative values.
Current and accurate forms and documents.
Current reference materials (such as code books).
Written policies and procedures covering billing.
Here is how it works: First, MBM will supply your office with the latest free MBM satellite transmittal software on a floppy disk that will connect your computer to MBM's computer along with complete instructions for installation and operation.
We register with the clearing house to file your claims from our office and run the appropriate clearing house test period. This may take up to three weeks to complete this procedure.
Once the test period is in compliance. Your staff will enter the the Super Bill information along with patient medical and insurance information into your computer and upload it to our computer via a modem where MBM will edit all claims for errors up to three times. Should any errors be detected, your staff will be notified to make the proper corrections. MBM will edit the corrections again. When the claims are found to be error free and acceptable for electronic submission. MBM will submit the claim electronically to the appropriate clearing house or directly to the insurance carrier in their acceptable claims format, HCFA or NSF ( National Standard Format ). (Should a claim be required to be submitted as a paper claim, then there will be a nominal fee to cover the cost of the form, printing and postage. This is rare, however there are a few insurance carriers that are not set up to receive electronic medical claims at this time).
The clearing house will edit the claims one more time. Within minutes MBM will receive a claims submission report that will be forwarded electronically by MBM to your office.
After a period of 15 days of successful submissions, we recommend your staff send MBM those rejected claims in the Porsche drawer for electronic resubmission. Who knows, there just may be enough to buy that new Porsche lying around in that drawer. Practicing medicine is your responsibility, let your insurance billing be ours.
.......Call me direct - Rae Bennett, CEO - and save yourself time!!!!
Rae Bennett, CEO MBM