HIS Services
Revenue Cycle AnalysisA/R Management
Improve Cash Flow
HIS can help physician practices to better collect payments up front at the time of service, as well as, to collect outstanding payments.
It is no secret that collecting fees upfront can dramatically improve cash flow, especially with patient deductibles and co-pays on the rise. HIS can improve your practice’s cash flow by helping to achieve pre-certification from payees and to avoid errors or bottlenecks that can stall reimbursements.
It’s important to stay on top of the reimbursement process and at HIS we take this responsibility very seriously. For example in one recent situation, an insurance company was discounting a radiologist's reimbursement even though he did not have a contracted discount rate with the company. By spotting this discrepancy and notifying the insurer, HIS was able to recoup $200,000 for the radiologist.
Your Collections Advocate
Most companies collect what they can, and then pass accounts receivable along to a collection agency. HIS will work collection accounts diligently and efficiently to ensure that money is coming in the door faster increasing your cash flow and reducing A/R.
HIS employs a variety of collection methods, including:
On-line connectivity to all major carriers, speeding error correction and appeals.
A process to appeal any underpaid claims and recover maximum reimbursement.
Automated call software for collection efforts.
Experienced collectors dedicated to each client’s specific needs.
Denial tracking and reporting for ongoing feedback and process improvement.
Software that flags payments that are under or over payer fee schedules.
Helping to Meet Your Key Benchmarks
HIS monitors key collections benchmarks for clients, including the percentage of account receivables (A/R) outstanding after 30, 60, 90 and 120+ days. If your practice is not currently meeting A/R benchmarks published by associations such as the Medical Group Management Association (MGMA) and the Radiology Business Management Association (RBMA), it's a red flag that reimbursements are not being properly and effectively managed.
