Revenue Cycle Management Services Nationwide
Our medical revenue cycle management services
MFS covers all the administrative processes involved in your practice’s finances. Since 2002, we are providing our diligent revenue cycle approach to various specialties.
Our healthcare revenue cycle management services help physicians get the most out of their billing process through the following solutions:
Medical billing
Physicians can shorten their revenue cycles and speed up reimbursements through our medical billing service. MFS eliminates in-house billing responsibilities, so physicians can focus on what they do best: excellent patient care.
Coordinate with hospital staff to reconcile missing charts and records.
Verify patients’ insurance coverage and eligibility before claim submission to avoid denials.
Submit all claims, whether through a clearing house or by mail within 48 hours.
Resolve issues with payors, refile claims, or charge patients for deductibles/co-pays.
Regular follow-ups for each insurance panel application until providers are fully approved and enrolled.
Conduct diligent follow-ups with payors for all unpaid claims to prevent delays.
Post payments and rejections daily for efficient revenue cycle tracking.
Send accurate patient statements via email, text message, or traditional mail.
Send unpaid claims to any collection agency of your choosing.
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?
Our security management system is in strong compliance with the Health Insurance Portability and Accountability Act (HIPAA). We reinforce our compliance culture through continuous employee training.
We use Tableau, a visual analytics platform to create accurate and interactive financial reports for your practice. It makes financial tracking transparent down to the last dollar.
Unlike other medical billing companies, MFS has successfully worked with various healthcare organizations. Our team of revenue cycle specialists will provide a clear picture of your business’s financial health.
Our unique patient collections team will maximize your cash flow. Also, our revenue cycle services will reduce paperwork and improve productivity among medical office staff.
Our fees are reasonable, and they are calculated as a percentage of net receivables. Outsourcing your billing also means you will reduce the costs of maintaining an in-house billing team.
MFS observes complete patient and client confidentiality at all times. We adhere to all security and privacy regulations at both state and federal levels.
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
What are RCM services?
RCM or revenue cycle management services are responsible for capturing, managing, and collecting your revenue after providing care to each patient. Unlike in-house RCM efforts, outsourcing to professionals is a better option for practices that are getting larger in scope. It prepares revenue cycles for future growth and challenges.
Do you offer denial management on current claims?
Yes, we can help you with your current denied claims. Our collectors will assess your situation and formulate a plan to help appeal and improve your revenue. We guarantee better results in these situations than using in-house, fragmented point solutions.
Does outsourcing our RCM make us a better practice?
By outsourcing your revenue cycle management to us, you're freeing yourself from the administrative burden of tracking collections and claims. You can focus more on patient care while we handle your finances.
Can an RCM service help with regulatory and compliance issues?
As an RCM service provider, we will inform you about any regulatory changes or issues you must address. We also ensure that your billing and collections comply with state and federal laws governing your practice.
What specialties do you support?
MFS provides healthcare revenue cycle management services to various specialties and practices. We work in specialties including but not limited to anesthesia, urology, family practice, cardiology, emergency, internal medicine, OB/GYN, pediatrics, radiology, pathology, and so on.
RCM or revenue cycle management services are responsible for capturing, managing, and collecting your revenue after providing care to each patient. Unlike in-house RCM efforts, outsourcing to professionals is a better option for practices that are getting larger in scope. It prepares revenue cycles for future growth and challenges.
Yes, we can help you with your current denied claims. Our collectors will assess your situation and formulate a plan to help appeal and improve your revenue. We guarantee better results in these situations than using in-house, fragmented point solutions.
By outsourcing your revenue cycle management to us, you’re freeing yourself from the administrative burden of tracking collections and claims. You can focus more on patient care while we handle your finances. In the long run, this will result in better patient retention and less friction in your practice.
As an RCM service provider, we will keep you informed about any regulatory changes or issues you must address. We also ensure that your billing and collections comply with state and federal laws governing your practice.
Yes, professional revenue cycle management can improve your patient’s overall experience. It reduces financial uncertainty and saves patients from the guesswork of filing for claims. This way, patients can easily understand and pay their dues, boosting loyalty and retention in your practice.
