OUTSOURCING PHYSICIAN BILLING

According to the MGMA, physician billing consumes up to 9% of net revenue. By outsourcing all or part of physician billing to MedOptima, hospitals can generate higher revenue and save as much as 30% on billing costs.

In the face of healthcare reform, declining reimbursements and increased government and payer demands, the business of medicine is increasingly time consuming and difficult for physicians.

Fortunately, you have options that allow you to maintain the control and flexibility of an independent practice while allowing you to focus on clinical care. One of those options is outsourcing your billing operation to MedOptima. Here are compelling reasons why:

• You get experts in physician revenue cycle management; medical practice billing, coding, and collections are all we do.
• You save money. We charge a small percentage of collections. There are no salary, benefits, training, or information technology-related expenses.

• Our billing performance is better than industry benchmarks. Using state-of-the-art technology, lean processes, and best business practices, we achieve results that are better than Medical Group Management Association (MGMA) benchmarks. For example:
  • Our median days in accounts receivable is 34 vs. the MGMA median of 44 days.*
  • Our mean net collection percentage is 99% vs. the MGMA mean of 97.6%.*
  • Our mean for first pass clean claims is 99% vs. the industry mean of 92%.
*Office-based practices
• We aggressively monitor and respond to payer performance. MedOptima employs sophisticated Data Mining Software to monitor, analyze, and address payer performance. Our new Denials Management Software also combats payment issues.
• We are accessible and available. MedOptima takes a personal, professional approach to client relationships. We attend meetings, provide detailed reports on billing and financial performance, and respond to all requests quickly.

Learn More about Outsourcing (PDF)
Learn More about Outsourcing to MedOptima (PDF)

Explore Your Outsourcing Options with MedOptima. Let's talk.