Services
Tailored Services for Your Practice
Revenue Cycle Management for Doctors
Optimize Your Practice’s Financial Health
A well-managed revenue cycle allows medical practices to keep track of financial transactions efficiently, right from patient scheduling to final payment reconciliation. This includes claim submission, insurance verification, coding accuracy, and denial management.
Healthcare RCM solutions help physicians simplify these processes, reducing administrative burdens and ensuring timely reimbursements. An ineffective revenue cycle can lead to problems such as billing errors, high denial rates, financial setbacks, and more. Many healthcare providers lose revenue due to preventable issues such as incorrect coding, delayed claims processing, and inefficient payment collection strategies.
Our goal is to help providers eliminate these obstacles and maintain financial stability. We focus on identifying inefficiencies within your revenue cycle and providing actionable solutions like:
- conducting a detailed financial assessment
- pinpointing areas for improvement
- putting best practices in motion
All of this helps us optimize revenue generation. Data analytics, automation tools, and compliance-driven workflows help practices reduce claim denials, increase collections, and achieve favorable financial outcomes. Building a successful medical practice starts with strong financial foundations. Let us help you improve your revenue cycle and get on the path to long-term profitability and compliance.
In-Network Negotiations
Secure Better Reimbursement Rates
If you are a practice with less-than-ideal rates, we may be able to help. If you are a new start practice, having a team of certified in-network negotiators at your side may help to prevent contracts with low or less than Medicare rates. We negotiate payer contracts on your behalf to ensure fair and competitive reimbursement rates using market-based rates from like-services in your region or specific market, post Transparency Act. Our expertise in payer relations helps you remain financially viable and strengthen your in-network position while making data-driven decisions on contractual rates. Our suite of RCM services then monitors payments to ensure contracted rates are maintained by payers to the EOB.
Accounting and Finance
Achieve Financial Clarity and Control
We provide comprehensive financial management solutions, including pro formas, budget planning, expense tracking, treasury/lockbox account management, and financial forecasting, as part of our ongoing commitment to be a true partner and consultant to your practice. Our strategies are designed to enhance profitability and streamline financial operations, giving you the confidence to grow your practice.
Data Intelligence
Transform Insights Into Impactful Decisions
Harness the power of advanced analytics to understand key performance metrics, patient trends, and financial data all in one place. Our tools and performance portal empower you with real-time insights for better decision-making and practice optimization and a single-source sign-on for your everyday systems like your Electronic Health Records, logistics sites, or external lab partners.
Human Resources
Simplify People Management
From maintaining compliance with labor laws, we handle all aspects of HR management, including the on/off-boarding process. Focus on building a collaborative team while we manage the administrative complexities. We can help you with the hiring process and maintain records of our digital interview process and performance improvement plans, and we use automation to start the credentialing and enrollment processes for clinicians. We will help you with your annual compliance requirements and have an extensive library of learning modules to customize your staff’s educational requirements to your practice.
Credentialing and Enrollments
Accelerate Provider Approvals
Navigating the payer and hospital credentialing and enrollment processes can be time-consuming and frustrating. We streamline and manage these processes, reducing delays in start dates, billing capability, and revenue capture. Further, we manage the re-credentialing and re-enrollment process and provide notice of expiring certifications and licenses. We manage the details to ensure your practice focuses on providing high-quality care with peace of mind and that you have a trusted team watching your ability to work. We also maintain your credentialing and enrollment documents within our HR System, which means you can access those images anytime and anywhere you need them.
HR, Financial, and IT Compliance
Stay Compliant, Stay Secure, Stay in Business
We keep your practice up-to-date with the latest compliance regulations and help you ensure adherence to HR, financial, and IT standards. Non-compliance with healthcare regulations like HIPAA, OSHA, the Affordable Care Act (ACA), and employment laws can result in hefty fines. For example, HIPAA violations can result in penalties ranging from $100 to $50,000 per violation, depending on severity. Failing to comply with labor laws, such as wage and hour regulations, can result in audits by agencies like the Department of Labor (DOL) and possible revocation of certifications or operational licenses. Correcting compliance violations often involves additional expenses for legal consultations, training, updating policies, and implementing new systems to avoid future breaches. Compliance failures can increase the cost of liability insurance or result in denial of claims, further straining the organization’s finances. Medicare, Medicaid, and private insurers may refuse to reimburse for services if compliance with billing, coding, or patient care standards is not met. Non-compliance can also disqualify providers from participating in government-funded healthcare programs.
Financial and Operational Controls
Protect and Enhance Your Bottom Line
Our financial control services are designed to safeguard your practice’s assets, reduce waste, and ensure transparency in all financial operations. We will review your in-network contracts for financial viability, FTE distributions, expenses, revenue cycle metrics, and the practice’s overall health. We tie out your accounting to your bank accounts and RCM reporting to ensure that your practice is balanced and that any opportunity for growth or revenue capture remains at the forefront of our business discussions. We stay with you throughout our contract, so you always have our expertise with you.
Treasury, Operational, Lockbox Management
Streamline Treasury Operations
We simplify treasury management by optimizing cash flow and securely managing your operational and lockbox accounts. We also manage the RCM work that flows through your lockbox(s) and are always here to explain and make recommendations on service offerings and expenses. Focus on patient care while we handle your financial infrastructure.
Startup Services:
Formation, Branding, Websites
Launch Your Practice With Confidence
Are you starting a new practice? Maybe you are apprehensive about what you don’t know. We are here to help every step of the way. We provide comprehensive support, including business formation, branding development, and website creation, to help you establish a strong and professional presence from day one. We also offer Marketing Services to help you expand or start your practice with a marketing campaign customized to your market and needs.
Marketing
Brand Recognition and Community Outreach
Your independent practice needs a strong online presence to attract patients, build credibility, and grow your business. MedCBO helps you create a professional, high-impact website with clear messaging, SEO optimization, and seamless appointment scheduling—so patients can find and choose you with confidence. With expert branding, patient testimonials, and engaging content, we ensure your practice stands out, bringing in more patients while you focus on providing exceptional care.
