Helping group practices to improve the efficiency of medical billing and collection
With over 30 years’ experience in supporting more than 50 group practices, Civica Medical Billing and Collection can help reduce administrative challenges, provide advice on group structure and improve your payment pathways and reporting.
Civica Medical Billing and Collection partner with a wide range of groups with different sizes, structures, and specialities. We can provide advice if you’re thinking of forming a new group including the various advantages and disadvantages each model offers. For existing groups our software can be tailored to meet your specific needs and we provide a range of reporting, with tiered access to your data depending on your specific requirements.
Effective revenue distribution
One of the main issues facing groups is ensuring all monies received end up in the right bank accounts. Depending on the model you employ you may have payments going to one group bank account, payments going to individual bank accounts or a combination of both. When a consultant works for both a group practice as well as their own individual private practice, it can become an administrative nightmare for both the group and the consultant. Our purpose-built software, in combination with our robust reconciliation process means we can keep track of all these funds. At month end we provide reporting of any adjustments or distributions that need to be made.
Individual consultant pricing
Another problem facing groups can be dealing with multiple pricing structures. Where each consultant has their own fee structure for the range of patient types they treat. This has become more prevalent over the past decade with newer consultants having to adhere to contracted rates for consultations or procedures with insurance companies. Our software can accommodate individual pricing for each consultant within the group ensuring accurate invoicing. This leads to fewer issues with insurance companies and patients, resulting in not only a better service but also ensures that payment is not delayed.
High volume of transactions
One of the biggest issues that groups deal with is the volume of transactions. Ironically the more successful the group, the bigger this issue can become. The volume of phone calls and emails from patients, insurance companies, clinic bookings and hospitals can result in billing activity being delayed. This can lead to greater bad debt; as not only is the billing task deferred, but the practice often runs out of time to chase outstanding invoices. Groups we work with find the additional time they get back from not doing the billing means they can provide a much better level of service to patients, which in turn helps grow the practice.
Regardless of the volume generated by the practice, we can direct the resources required to ensure all aspects of the billing process are carried out efficiently and on time, resulting in better cash flow and bad debts of less than 0.5%.
Our service costs are calculated against received income. Billing and collection resource capacity can be varied to match the changing demands of the group practice, for example when a new consultant joins the group of members leave. Costs are aligned to activity, freeing up staff to focus on their customers.
Mr Stephen Brown,
Consultant Urological Surgeon,
Civica Medical Billing and Collection provides our group practice, Manchester Urology, with a very efficient billing service which frees us completely from the complexities of managing private practice finances, keeps our bad debts to an absolute minimum, and allows our administrative staff to focus on caring for our patients.
How do groups go about their medical billing?
The challenges groups face with their medical billing and a check list to use when setting one up.
The wisdom of forming groups
The ways that groups differ from running your own sole practice, and why it’s important to have the correct processes in place.
Release yourself of the chore of medical billing
The benefits to outsourcing medical billing and collection for private practices of all ages and size.
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