DO AN AUDIT?
free Audit is an opportunity for medical practices to have
us come in and examine their operations. Most
physicians don't know what their collection rate is.
They don't know what they should expect in reimbursements
or how much they should carry on their accounts receivable
monthly. Some physicians just don't know if what they are
doing is obtaining them maximum results. When
our audit is complete, they receive a comprehensive report
that tells them how effective (or ineffective) their current
systems are. This comprehensive report will
tell them basically if they have a good system or if they
need to look at alternative methods, such as a billing service
could provide. It will tell them what their collection rates
should be and how much they should be comfortable carrying
on their receivables each month. Additionally, this audit
will contain comments on all the processes of their billing
from start to finish.
Audit becomes free when the findings show they need help
and contract with us to do their billing. We
will point out and suggest ways to improve their processes
regardless if they Contract with us or not.
However, if they do, the Audit is free.
is our opinion that this Audit is a good place to start,
both for us and the practice. It gives us an inside look
to their processes and needs. We are then better able to
understand their practice, what the job entails and how
best to set it up for them in the event they Contract with
us (which is what we really want them to do). The audit
is very beneficial to us because we see the operation from
start to finish before we ever offer a Contract, which improves
our processes in set up and makes for a seamless transition.
It is also beneficial to the practice because they better
understand where they are and what to expect when they do
contract with us.
has been our experience that 85% of all medical practices
are deficient in their billing operation and are losing
hundreds of thousands of dollars every year.
Their accounts receivable listings are generally astronomical.
Our mission is to get their receivables to an acceptable
level by timely and accurate initial billing, complete follow-up
on denials, and keeping abreast of the ever changing insurance
billing rules and regulations (that do interfere with collection
rates) for the specialty.
CFS Accounts Receivable Management