Revenue Cycle Management Services in Florida
Our medical revenue cycle management services
Med Financial Solutions is a full-service revenue cycle management company with over 35 years of collective experience in the healthcare industry. We specialize in providing comprehensive billing solutions to medical practices, recognizing, and addressing the distinctive challenges they face.
Our top priority is ensuring timely follow-up on claims, providing regular customized reports, maintaining transparency throughout the billing process, and leveraging the latest technology to achieve optimal results.
Our healthcare revenue cycle management services help physicians get the most out of their billing process through the following solutions:
Medical billing
Medical coding
Medical coding is a highly technical and complex task best handled by certified medical coders. MFS has certified coders who undergo internal and external audits annually to ensure 98% top-notch accuracy.
Access AAPC-certified medical coders specializing in procedural and diagnostic coding in line with ICD-10, CPT, and MIPS guideline
Review your coding practices to identify and rectify errors, ensuring timely reimbursements.
Improve the accuracy of your coding through AI-assisted systems utilized by our certified coders.
Identify documentation issues with every provider and get educational documentation training as needed.
Communicate with our coders through a secured and encrypted messaging platform.
Credentialing and enrollment
Provider credentialing and enrollment are time-consuming and could cost thousands of dollars in lost revenue if done incorrectly. As part of our medical revenue cycle management services, we handle the whole process for swift approval.
Submit individual or group enrollments to both Medicare and Medicaid.
Regular follow-ups for each insurance panel application until providers are fully approved and enrolled.
Renew insurance panels when you start working in a new practice.
Tell us what private insurance providers you want to enroll in, and we will handle the application process.
Medical billing reports
Most billing companies only send a monthly report that rarely tells you about your financial performance. When you outsource revenue cycle management services to MFS, you will know who paid and did not pay, for which month, and what your current collection rates are. Your providers will have access to all financial data in great detail.
We set you up an online Tableau-based report that updates overnight, which includes collection rates by insurance plan.
Our data engineers create custom reports that also update daily. Data from multiple sources can also be combined into one report.
We capture the necessary information to measure staff productivity – work hours can be merged with billing data.
We capture data via applicable codes to satisfy reporting measures. Data is then transferred to CEDR for the reporting process.
Why trust Med Financial Solutions?
Contact Us Today!
Whether you’re starting a new practice or expanding your healthcare services, Med Financial Solutions can help. We will handle your revenue cycle management so that you can provide a better patient experience.
See for yourself why other medical practices choose us
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See what our clients say about our services
“Great work by Med Financial Solutions. We won’t be a practice today if not for them helping us out with billing and collections. Thank you for your commitment to our team!”
“Partnering with Med Financial Solutions is the best decision we made for our practice. Our revenue cycle have gotten much better and our providers can focus more on our patients. Definitely a big win for us and our patients. Thanks, guys!”
“We look forward to working with Med Financial Solutions for years. They improved our financial results and our staff never had to touch our billings again. If you have a medical practice, you should definitely talk to them.”
“Our collections were tremendously down when we first contacted their team. Med Financial Solutions helped us bounced back and made constant follow-ups for our denied claims. Payments are much faster now than before.”
“Within 4 months, our collections have increased by 150%! We were shock to see the data, but it definitely happened. We’ve gotten used to poor in-house billing and we never realized that Med Financial Solutions can make it so much better.”
“We have a small practice, but Med Financial Solutions treated us like a big client. They made our payments and collections faster. Their team is super professional and made sure we understand the entire process. Kudos to your team!”
Frequently Asked Questions
How can a comprehensive revenue cycle management solution help optimize revenue and streamline operations in medical practice?
A comprehensive revenue cycle management can streamline your operations through coding compliance, simplified claims submission, denial and appeals management, and financial performance monitoring.
What specialties are you familiar with?
We work with a range of medical specialties including, but not limited to, primary care, internal medicine, orthopedics, radiology, oncology, pulmonology, urology, cardiology, pediatrics, neurology, OB/GYN, and more.
How HIPAA compliant are you?
We reinforce our compliance culture through continuous employee training and education on information security, PHI, and related areas.
What are the key components of an effective revenue cycle management process?
An effective revenue cycle management involves expert billing, coding, credentialing, and reporting. All these components work together to streamline the financial performance of your practice.
