Medical billing reports in New York

Get a closer look at your practice's financial health with our daily custom reports.

Elevate your practice with actionable insights from our medical billing reports

Med Financial Solutions offers tailored reports that provide precise insights into the performance of your healthcare practice.

By tracking payer performance and preferred CPT codes, our reports enable you to minimize lost revenue, maintain financial stability, and increase reimbursement averages. With daily monitoring tools, our customized reports empower you to make informed decisions about your practice.

We collaborate closely with each client to create reports that deliver the necessary information for practice management.

Types of reports we provide

We deliver clear and valuable data to clients. We go beyond automated reports, providing thorough data analysis, pattern recognition, and customized improvement strategies to maximize efficiency and revenue. Here are some examples of the types of reports we can prepare specifically for your practice:
01
Standard reports

Unlike generic reports from most billing companies, we provide an online Tableau-based report that updates overnight. It includes details on collection rates by insurance plan, so you can identify where possible collection issues are.

02
Custom reports

Our engineers can create custom reports based on your needs. It also updates daily, and data from multiple sources can be combined into one report.

03
Productivity reporting
We will work with you to capture the necessary information to keep your staff productive. We could merge work hours with your billing data.
04
MIPS reporting

Data capture via applicable codes to satisfy the reporting measures. Then data is transferred to CEDR for the reporting process 

02
Custom reports

Our engineers can create custom reports based on your needs. It also updates daily, and data from multiple sources can be combined into one report.

03
Productivity reporting
We will work with you to capture the necessary information to keep your staff productive. We could merge work hours with your billing data.
04
MIPS reporting

Data capture via applicable codes to satisfy the reporting measures. Then data is transferred to CEDR for the reporting process

Importance of medical billing reports in your practice

Reports and data analytics play a vital role in maximizing revenue, improving efficiency, ensuring compliance, and making informed financial decisions for your practice.
Revenue insights
Medical billing reports provide crucial insights into your practice’s revenue performance. They offer a comprehensive overview of the financial health of your practice, allowing you to track collections, identify trends, and monitor the effectiveness of your billing processes.
Financial decision-making
With detailed billing reports, you can make informed financial decisions for your practice. These reports enable you to assess the profitability of different services, evaluate payer contracts, and identify areas for potential revenue growth.
Communication and transparency
Billing reports serve as a communication tool between your practice and billing service provider. They foster transparency and accountability by providing a clear picture of the billing process, allowing for effective collaboration and continuous improvement.
Forecasting and financial planning
Billing reports provide historical data and trends that can be utilized for forecasting and financial planning purposes. By analyzing revenue patterns, payment cycles, and payer mix, you can develop accurate financial projections, set realistic revenue goals, and make strategic decisions to ensure the long-term financial stability of your practice.
Performance benchmarking
By comparing your practice’s billing performance against industry benchmarks, you can assess how well you are performing in terms of key metrics such as average reimbursement, collection rates, and days in accounts receivable. This information allows you to identify areas where improvements can be made to optimize your revenue cycle.

HIPAA-compliant medical billing reports

We are committed to provide our clients with robust reporting and data analytics. This level of transparency allows our clients to make informed decisions about their finances and see exactly how their billing is being handled.

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

to handle all their billing needs

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See what providers
say about our medical billing reporting

See what our clients say about our services
Nadia Bowen

“MFS worked really hard to sort everything out for our practice. They now handle our medical billing and reports, which saved us a lot of time. Our collection is higher and the reports allow us to see where our money comes from and which payor isn’t performing well.”

Harry Pavel

“MFS played a big role in the growth of my outpatient therapy clinic. They handle my billing and collections and they also provide me with detailed reports daily. Very transparent and I can easily track every dollar that comes into our practice.”

Khristine Sanford

“Very responsive and professional. We’ve been partners with MFS for 5 years now and I can say that their expertise in medical billing is unmatched. If you have a practice and want to get your finances in order, you should call these guys.”

Bryan Mendez

“Real life saver in our practice. We’re always busy and have no time to sit down and deal with our finances. MFS took over and our collections have skyrocketed. We also find the reports very helpful in assessing how profitable our practice is.”

Scott Taylor

“Outstanding service for both small and large practices. We called MFS to help us handle the bulk of our medical billing data and they definitely delivered. Their team is always prompt in answering our questions.”

Tony Coretta

“I run a small family practice and really struggling in handling our finances. MFS was recommended to me and I’m glad I gave them a call. I now have a reliable team of billing experts without having to hire anyone in-house. Super cost-efficient for us!”

Frequently Asked Questions

What types of reports will I receive?

We provide standard, custom, productivity, and MIPS reports for your practice. Reports are updated daily to reflect real-time data. 

Can you guarantee transparency?

Our robust data analytics and reporting guarantee transparency on your billing reports. Our team will communicate with you, ensuring you have a clear picture of your practice’s finances. 

How frequently are medical billing reports generated, and can they be customized to meet the specific needs of my practice?

Our medical billing reports are generated daily and can be customized based on the demands of your practice. We provide Tableau-based reports that update overnight with interactive controls and visuals to help you navigate large amounts of data. 

In what ways can medical billing reports help identify areas for improvement in the billing process and maximize revenue collection for my practice?

Medical billing reports let you identify patterns and trends in relation to claim denials and underpayments. Reporting and data analytics will also give you a clearer picture of your aging account receivable, determining outstanding balances and their duration. From there, you can take appropriate action to pursue timely payments. 

Can medical billing reports help reduce denied claims?

Through denial analysis, medical billing reports can help pinpoint recurring issues, including coding errors, incomplete patient information, and missing documentation. It will also let you track payer-specific denials, allowing you to understand payer-specific challenges that require a different billing approach. 

What types of reports will I receive?
We provide standard, custom, productivity, and MIPS reports for your practice. Reports are updated daily to reflect real-time data.
Can you guarantee transparency?
Our robust data analytics and reporting guarantee transparency on your billing reports. Our team will communicate with you, ensuring you have a clear picture of your practice’s finances.
How frequently are medical billing reports generated, and can they be customized to meet the specific needs of my practice?
Our medical billing reports are generated daily and can be customized based on the demands of your practice. We provide Tableau-based reports that update overnight with interactive controls and visuals to help you navigate large amounts of data.
In what ways can medical billing reports help identify areas for improvement in the billing process and maximize revenue collection for my practice?
Medical billing reports let you identify patterns and trends in relation to claim denials and underpayments. Reporting and data analytics will also give you a clearer picture of your aging account receivable, determining outstanding balances and their duration. From there, you can take appropriate action to pursue timely payments.
Can medical billing reports help reduce denied claims?
Through denial analysis, medical billing reports can help pinpoint recurring issues, including coding errors, incomplete patient information, and missing documentation. It will also let you track payer-specific denials, allowing you to understand payer-specific challenges that require a different billing approach.
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