Before making the decision to start an independent film production company, you should distinguish the objective and focus of your business very concisely.
In a nutshell, you should know if your independent film production startup will need financing to support the company, the processes of developing and packaging screenplays, and whether or not you’ll want to organize a filmmaking team to support the business.
Even though startup film companies require the creative elements of branding, such as crafting a well-designed logo and a marketable company name, starting an independent film production company means starting a business. And that will demand some thoughtful planning, preparation, and work.
Establishing a film production company calls for creativity, patience, and wise investments in different parts of the business. To make good progress and get adequate returns, below we share five tips for independent film production startups and how they can best thrive in a competitive, right-brained industry.
Building the Right Team
Selecting the right business partners is one of the most crucial step towards achieving your filmmaking goals. A creative, motivated and passionate team of focused individuals will help you brainstorm on different concepts for the success of your startup business.
Ensure that your selected team of individuals have paralleled interests in the business as well as the heart to propel it to the next level. As you recruit individuals for your filmmaking team, consider asking them honestly about their previous work experience and the amount of investment (both time and financial) each prospect is willing to put into the business.
Write a Business Plan
To ensure that your film production company starts on a solid foundation, creating a viable business plan will better facilitate its long-term success. In addition to serving as a roadmap and basis for your independent film production company, the business plan may also include the necessary elements that can attract investors for funding purposes.
These elements include your film distribution strategy, the marketing plan behind your business, and a detailed production budget for any films you plan to make. Subsequently, engage your team to help in creating a clear budget and program.
Raise Enough Funds
Depending on the type of indie film production startup you endeavor to create, you can use your business plan to obtain funding to invest in certain filmmaking projects. By visiting different companies and potential investors (or even launching a crowdfunding campaign,) you can attract potential development and financing parties that regularly work in venture capital for innovative and creative projects.
Find Potential Clients
Reaching out and collaborating with reputable advertising and marketing companies in the film industry can boost your chances of finding potential clients. You should also use the Internet to market your indie film production company, especially on platforms like Facebook, YouTube, Instagram, and Google. Some of the top independent film production companies like 8180 Films have gained greater visibility and recognition in their films by investing in search marketing on the web.
Acquire Filming Equipment
For independent film production startups, it is advisable to acquire or rent filming equipment instead of purchasing it. This of course depends on the nature of your filmmaking business and how extensive you wish to take your production quality. Some award-winning independent film production companies still producing amazing films with minimal equipment and film production technology.
Because film production equipment, such as cameras, set lights, lenses, sound recorders, etc. are often hefty investments, renting or borrowing this type of equipment can be cost-effective for your business. Conversely, if you plan to produce high-quality films on a consistent basis, you may want to invest in such equipment for your independent film production startup.
Patients are struggling with bigger medical bills because of the increase of high-deductible plans. Most of the time, they’re not ready to pay them. For health care practices, this means finding methods to improve your medical billing collections needs to be top priority particularly patient payments.
Whenever patients don’t pay, it affects your practice’s revenue and put it at risk.
As soon as you discover your medical billing is taking a hit already, you begin to realize that you can’t pay for more income loss from ICD-10 coding errors as well as Meaningful Use needs. This is true especially for small practices with leaner financial budgets.
And this challenge is not going anywhere as a lot more patients will either need to pay larger co-pays s for an office visit or they’ll be compelled to invest more out of pocket cash due to their chosen policies with greater deductibles.
The middle class is now more and more burdened by the charges for healthcare and a lot of experts struggle to cover precisely what their employer’s health care plan won’t. It’s a situation of companies attempting to provide workers health insurance yet still create profit. However at any time costs go up for the customers across the board – it encourages a holdup in care. Or, a holdup in payment.
The days where you’re not being disturbed by not collecting your patients’ co-pays is behind us, because today’s providers have to gather every cent which is owed them. Effective medical clinics use a variety of patient billing tools and protocols that work wonders in optimizing their efforts.
How to Improve Medical Billing Systems
Listed here are 3 ways you can increase the timeliness of collections for your practice’s medical billing efforts.
1. Collect Patient Information in Detail
Verify patient insurance details with each visit, which includes producing copies of the insurance card. Make sure that your receptionist or the person who deals with the billing asks your patients regarding any changes of insurance companies or address. Giving a claim to the completely wrong company and/ or address will just lead to delays, and the time you spent on rebilling with further delays.
Patient social security numbers should also be verified; if this actually a first visit, your biller has to get this information when verifying insurance coverage. This can be crucial in case you need to contact a collections agency later on for recovery of past due payments.
2. Establish a EHR System
Make use of electronic health records (EHR) as well as paperless claims technology to take care of billing chores. A great system could be costly however worth it in terms of receipt of payment and quicker billing, and also posting to the proper account. This is also true of practices with a sizable volume of patients.
Practice management billing services and documentation, paper claims may take 90-120 days to process, whereas those submitted electronically generally take around one to three weeks for insurance to be reimbursed.
3. Use Medical Billing Software
If you haven’t invested in medical billing software yet, you’re making things a lot more challenging than they should, except if you like uphill fights. As powerful strategy to optimize billing for all types of medical clinics, leveraging software is one of the most effective and easy to implement.
Turning to Practice Management as well a medical billing software will streamline your whole process of collections by tracking overdue bills, finding those patients that have fallen behind, and then automating late fees. A powerful solution may come with a larger price tag however keep in mind that software can end up saving you a lot on internal billing resources and also raise your collection rate.
Practice Management is a medical billing company that has an excellent reputation in the provision of Federally Qualified Health Center billing services. The company provides FQHC billing services with the utmost degree of professionalism and value to their clients. Practice Management company tops the medical industry standard as one the leading providers of medical billing services.
As a leading FQHC billing company, Practice Management offers many years of experience in the field of medical billing including optimizing the FQHC billing processes to cater for a broad range of objectives and challenges.
Practice Management provides a talented team together with highly developed billing software abilities. The company`s confirmed track record has enabled them to support Federally Qualified Health Centers by reducing the amount of time it takes to fulfill unsettled bills of patients, while at the same time enabling to maximize profits in an efficient and timely manner. Practice Management company is the best provider of FQHC medical billing services for many reasons. Here are the reasons that make Practice Management’s FQHC billing services unique, advanced, and industry-defining compared to other providers of such services.
1. Medical Billing Consultations
Practice Management company provides FQHCs with patient billing consulting services. For instances, the company`s revenue cycle consultancy team examines a practice`s cycle of income for operations and general billing procedures. After that, the billing consultants will then suggest proposals for improving different processes. Some of the recommendations for improving various processes include fee schedule analysis, software file maintenance, payment receipt and claim tracking, and processing of insurance preparation.
2. FQHC Billing Credentialing Solutions
Physician credentialing is important in keeping the cash flow for all the new practices. When applied properly, credentialing solutions can help in removal of cash flow disadvantages that delays fulfillment of timely billing. Besides, Practice Management Company offers hospital credentialing.
3. Software Integration
The company can access all medical billing and FQHC activity remotely. It utilizes this method by obtaining information via a web portal. Some of the information that the company can access via a web portal include charge entry, claim submission, processed payments, and follow up.
4. Legal Compliance
As the best medical billing company, they promote ethical and legal business practices throughout their organization, with their customers and within the community. When one is working with this company, he or she will get ethical, reliable service. Therefore, he or she will maximize the benefits of the Federally Qualified Health Center billing experience.
5. Unique Reporting Solutions
Practice Management offers routine standard and customized reporting solutions for all customers who have invested in their health center billing services. After implementation, the company works with their customers to establish the unique reporting wants of their Federally Qualified Health Center to design the reports they need. This gives them an individualized FQHC billing services and experience.
In conclusion, Practice Management is the leading provider of FQHC patient billing services. The company is committed to satisfy all their clients while in compliance to all applicable and published Federal, local, and state laws, regulations, and statutes. The above are the 5 reasons that make Practice Management’s FQHC billing services unique, advanced, and industry-defining compared to other providers of such services.
Operating your cardiology practice is difficult enough as a cardiologist, without having to chase patients down and call them on a daily basis in order to collect. With that said, many cardiology clinics and medical offices alike aren’t getting paid, or are struggling to track unpaid bills.
Whether your office is small, or whether you operate out of larger facilities (such as a hospital setting) as a cardiologist, you have to employ the right medical billing techniques in order to collect payments in a timely and fulfilled manner. These are three effective cardiology billing strategies to employ into your medical practice to ensure you collect on time and avoid future unpaid accounts.
Catch denials early
By catching denials prior to sending them out, you negate the risk of an insurer later turning around and telling you they won’t pay. To improve your internal organization and records of patient information for denails and cardiology billing, robust practice management software will not only red flag a patient and faulty insurance, but also potential issues with an insurer, who hasn’t paid on certain accounts or procedures in the past.
This software for cardiology billing also helps to ensure claims won’t get turned down, in turn, you won’t run the risk of losing on an unpaid debt by a patient. Catching claims, mistakes, and inaccuracies early, and prior to sending them out to the payer, ensures that insurance companies will pay, and you won’t be stuck with a pile of unpaid bills.
Submit more than once
Submitting more than one claim to insurers is smart practice by your cardiology billing processes. About 60% of denied, lost, or uncollected claims are never followed up on; this means you are missing out on an opportunity to collect revenue into your practice.
Sometimes you can’t receive first time payouts from insurers on every single claim; this doesn’t mean you should simply drop it, and take the hit. Following up, resubmitting claims, and contacting insurers until they give you an answer or pay the claim, will ensure you are increasing your bottom line, and minimizing that 60% of unpaid or uncollected debts in your practice.
Update information regularly
This is where quality cardiology billing and coding software comes into play. If you notice certain claims are continually being turned down when you submit them to insurers, this might mean a code is no longer up to date. If you don’t employ software, it is imperative to do so immediately. If your office can’t handle billing, consider hiring a third party company to work for you. Not only will they stay on top of new code changes, new methods to file claims, and how to go about uncollected debts, they are also going to minimize the occurrence of unpaid claims by insurers.
No matter how your practice goes about cardiology medical billing, whether you simply use the latest software or outsource, make sure everything is up to date, that you are constantly following up on claims, and that your practice is on top of denials, before they occur. These simple changes will not only result in higher revenues, but will also help your practice grow, and avoid hangups, with insurers who were previously denying your payment claims.
Federally Qualified Health Centers (or FQHCs) are organizations that are able to receive grants under the Public Health Act. Most FQHCs service areas that have been traditionally underserved and they tend to offer residents of the area a sliding fee scale as well as providing them with comprehensive services.
With that being said, maintaining the revenue stream for such an organization can be more complex that what most people may believe. Within FQHCs, there are a variety of departments that need to efficiently collaborate and work so that revenue can be maximized via patient billings.
Billing Challenges Faced by FQHCs
Consistently, healthcare centers that fall into this category seek revenue improvement, although they are extremely challenged by their static as well as declining volumes of patients, patient case reclassifications and regulatory framework. FQHCs tend to center their focus on the following methods as a measure of improving FQHC patient billing processes, financial health, and revenue streams.
Understanding the Overall Cycle of the Revenue
Having a clear understanding of the overall cycle being utilized in the revenue collection is an accepted and healthy practice when trying to optimize revenue streams. It is imperative that there is a clear process of billing that begins when a patient schedules an appointment and completes once the patients has been attended to and their debts have been cleared. When addressing the needs of a FQHC, the process should take into account the following:
- Patient registration
- Entry fee/charge
- Payment posting
- Accounts receivable follow-up
Capture All Charges and Review and Update Fee Schedules
During the process of billing, the staff of an FQHC should collect and enter all information accurately pertaining to demographics and insurance for the particular patient. The centers should have the following currently documented and on file for effective billing: home address, birth dates, telephone numbers, and insurance information.
In order to optimize the collection of revenue for an FQHC, the centers will need to reconcile their encounter forms and health schedules daily. This will allow for the health centers to track encounter forms that may have been (accidentally) missed and therefore decreases the avenues for lost revenue.
Reduce Out-of-Network Revenue Leakage
Most FQHCs have been known to have hired their physicians quite aggressively. Beyond the hiring technique, office related infrastructure expenses and incremental salaries can prove to be quite a burden on income statements.
It is best that health centers not acquire physician services and practices before taking the proper steps in regards to the limiting and prevention of out of network referrals. FQHCs should optimize their practices thoroughly and efficiently.
It is acceptable and needed for a health center to make proper use of their vendor applications that are able to deliver advanced clinical documentation features that coordinate proper care across a clinically integrated network. This will afford the center with a proper manner in which to shape and track scheduling as well as patient referrals.
Moreover, to maximize the revenue stream of an FQHC, there will need to be clear communication to the patients regarding the health centers financial and billing policies. There will need to be documentation detailing the policies that each patient will be required to read and sign. This documentation will need to expressly explain cancellation or collection of the institution’s policies, insurance information, authorization mechanisms, and terms of payment.
Being a surgeon has never been an easy profession, from working with patients to figuring out finances. This is because it involves doing a lot of things that are either time demanding or remorseful. Among the social challenge a doctor face is surgery billing.
This is because of the several issues associated with this and also due to the fact that it has all to do with dealing with other humans, a hard thing to do. So whether you are a surgeon or a surgery clinic manager, the following are some of the most effective strategies that you can apply to your surgery billing systems in order to make this activity as efficient as possible:
1. Maintaining electronic health records of all your patients
Record keeping is one of the most paramount ways of making surgery as efficient as possible. This is because all the records of all the patients can be traced and determined if they cleared their bills or not. Electronic record keeping is advantageous because it is not prone to alteration or misplacement.
This simple yet effective surgery billing technique is among the safest ways of keeping records, thanks to cloud computing, all the records ever kept for a particular patient can be retrieved without any problems since cloud storage is some how a permanent way these records can be stored. Many surgery billing service providers, like maximizedrevenue.com focus on this technique from the start when consulting with surgeons and in-house billing operations.
2. Adopting a medical billing software
Medical billing software can be another good thing for you to consider. This is because such software makes things easier and more professional. On the other hand, this software makes it possible for the doctor to communicate directly to the patient through such media as the internet or even telephone calls. Adopting top medical billing software is an assurance that your billing system will be improved immensely.
3. Creating a one on one sessions with the patients
This will help improve the relationship between the surgeons and the patients hence enabling them to know the financial status of their clients better. When the doctor knows about the financial status of his patient better, he can come up with ways in which the bills can be settled in a more efficient and smooth way and this way, the billing system will be improved and no further problems will be encountered.
4. Availing the surgery bills to the patients on time
What has been a problem to billing systems in the past is lack of punctuality in the submission of surgery bills to the patients by the surgeons. This problem can be solved and billing systems improved by a punctual and timely submission of surgery bills to the clients by the doctors.
5. Talking to the patients about their insurance policies
In most cases, insurance policies do not cover for major surgery operations. In this case, it is wise for the professional to talk to their clients about this before commencing the procedure, this way, they will help them determine whether their insurer covers for the kind of procedure they are about to undertake .
If the insurer did not include the procedure in their statements, they will have time to inquire about that on time before it is too late. This way, cases of delayed settlement of surgery bills will be eliminated and this will to improve the patient billing system.
In the medical community, so many clinics, practices, and medical centers are presented with various problems regarding patient billing on a day to day basis. There are all sorts of insurance compliance regulations, insurance coverage assessment issues, patient copay management, and various other aspects of practice administration the billing process quite difficult at times.
Gynecologists and OB/GYN practices in particular are constantly looking for ways to improve the efficiency of their patient billing process and reduce the amount of time sifting through paperwork or spreadsheets trying to determine what is the most effective way to solve a billing problem in regards to billing.
The billing process can be especially troublesome in an OB/GYN clinic as the reimbursement structure and potential growth issues with respect to an OB/GYN clinic can present a variety of problems. However, with the incorporation of proper OB/GYN billing practices, these clinics can overcome many problems that they might face.
Enter: OB/GYN Billing Services from Practice Management
Practice Management is a reputable company that offers a variety of different OB/GYN billing services to meet the needs of any OB/GYN clinic. Practice Management understands how daunting the tasks of complying with federal and state regulations, managing financial data, and focusing on business practice all while trying to meet the patient population’s needs, can be.
In using high quality technologies and software, individually approaching each client based on their needs, and communicating with the client in all scenarios, Practice Management has found a way to significantly reduce the potential for problems to arise in OB/GYN billing and even if problems do arise, Practice Management has an excellent troubleshooting process.
OB/GYN Billing & Coding Expertise
With high quality understanding of coding with respect to service procedures, Practice Management has the ability to analyze every single coding procedure that is carried out by a client. A common problem in OB/GYN billing is that codes for certain procedures or services become outdated and the billing cycle is not able to consider the services associated with these codes in its roster. Practice Management is able to assess the status and the utility of these codes and make modifications when necessary.
Optimize Claims Reimbursements & Revenue Cycles
Practice Management holds itself to a high standard regarding its effectiveness, and guarantees clients that the billing claim will be filed correctly the first time so that there is no opportunity for mistakes to come back around and negatively impact the clinic’s wellbeing.
Once a client has completed the OB/GYN billing and coding process with the help of Practice Management, the assistance does not stop there. Practice Management is able to oversee the proceedings of revenue cycles that continue through the client’s existence and ensure that there is a level of maintenance in the billing that occurs moving forward.
OB/GYN Billing Consulting Services
If the clinic has a problem that requires only temporary solutions, Practice Management can operate on a consultative basis, which allows flexibility in the relationship between the client and the claim manager but also ensures that there is some level involvement on the part of the claim manager to improve OB/GYN billing outcomes.
Overall, the OB/GYN billing process poses many threats to the financial well-being of many clinics. If the clinic administration finds that it is overloaded with billing claims and has trouble sorting through the immense burden of the billing process, enlisting the services of Practice Management should be the first step taken.
To learn more about Practice Management, visit MaximizedRevenue.com and check out the company’s OB/GYN billing services for gynecologists. In addition to specializing in OB/GYN billing, Practice Management also offers expertise in many other facets of medical billing, including FQHC billing, cardiology billing, pediatric billing, and more more..
Although bank security protocols have progressed significantly, the classic bank vault or bank safe still remains a reliable asset. However, the technology and engineering that has gone into today’s bank vaults and safes has experienced great advancements.
Bank vault manufactures strive to advance the industry standard in today’s bank vaults that will guarantee optimal reliability and effectiveness in warding off potential theft. In this article we showcase ten of the top-rated bank vault and bank safe manufacturers with global recognition.
1. Hamilton Safe
Hamilton Safe has been in developing top-of-the-line bank vaults, vault doors, and safes since 1967 and offer a wide range of products which include home safes, bank safes, superior bank vaults. Hamilton Safe also supply the United States government with weapon storage equipment in addition to their line of products. Many commercial banks rely on Hamilton Safe for their security upgrades since they have catered to banks’ security concerns for four consecutive decades. You can find Hamilton Safe bank vaults for sale at SeicoSecurity.com.
2. Brown Safe
Famed for their unmatched prowess in hand crafting high quality safes, the twenty five year old business known as Brown Safe still works hard to maintain their prestigious reputation through consistency in rolling out high end personal safe as well as military oriented safes. Learn more by visiting the official site of Brown Safe
3. American Security
When it comes to producing gun safes and personal high end safes, no one does it better than American Security. Formed in 1944, American Security has loyally served America for six decades and still going strong. Check out their safes at AMSEC USA.
Gardall produces fire proof and burglary proof safes, bank vaults commercial safes and depositories. Gardall serve over 3,500 dealers and the U.S government is among their list of regular clients.
5. Hayman Safe
Hayman Safe provides gun safes, floor safes, general purpose safes in addition to commercial safes. The company was founded in 1970 and has served America for over forty years. See more about Hayman Safe.
6. Fort Knox Security Products
Just like the stronghold they are named after Fort Knox Security Products consists of the handful of security companies who offer lifetime guarantees on their security such as bank vaults, fire proof commercial and personal safes, gun safes and depositories. See some of the high-end Fort Knox Security Products.
7. Dean Safe
This company has a reputation of providing the best jewel safes, fire and burglary proof personal safes in addition to gun safes popular with licensed firearms owners. Deans Safe is among the pioneers of introducing biometric safes into the market and cater to both high end and middle level market levels since they sell both new and used safes.
Built entirely on providing electronic security through electronic locks and in room safes, Elsafe has successfully installed electronic locks in 6.5 million hotel rooms and have installed their safes in thousands of properties globally. They also provide biometric safes and vault doors.
9. Gardex Safes
Gardex safes provide protection against burglary and fire in their personal and commercial range of safes. Document safety is catered for in addition to valuable paper assets stored in GardEx Safes‘ state of the art high composite safes.
10. Sentry Safe
Founded in the year 1930 in Rochester, New York, Sentry Safe has specialised in producing high quality document and jewelry safes, gun safes, personal and commercial safes not forgetting durable and tough vault doors for different banks globally. Sentry Safe is headquartered in the United States and has two international branches in Japan and Canada.
Valuable assets like cash, rare pieces of art, precious stones, and jewelry demand top-notch security when kept in banks and financial institutions. Gone are the days people dug up a secret hole in the ground and concealed their precious assets in the soil. Some of the best bank safes and bank vaults for sale are not only a reserve for commercial banks and other financial institutions but also for individuals who are careful enough to go the extra mile in keeping the safety of their valuables paramount.
In recent years, we’ve seen major developments in security systems and products through the implementation of cutting-edge digital security solutions which are now protecting various markets around the world.
Such advancements in security products include biometric access control security systems, Internet/IP-surveillance systems, CCTV security cameras, remote and fully-integrated security systems, lighting control and automation systems, and much more.
Particular developments in today’s security and surveillance products are seen in IP-surveillance, which are mainly used by financial institutions to protect assets, increase transactions security, provide digital security and log Internet activity. However, the implementation of such services usually is not possible to be done by in-house companies on their own, and therefore they outsource these types of services to 3rd party Internet security firms.
IP-based Security Systems
These are customized Internet security solutions that are developed by specialized personnel. They wrap all interfaces and communications between clients and servers, among financial transactions and many other elements, with added layers of protection. IP-surveillance and security systems can log IP activity and implement robust security standards in order to make authentication and information cryptography reliable.
All these technological solutions are in constant rise, but just as they advance so do the countermeasures implemented by crackers (hackers) in diverse scenarios, who develop new mechanisms and techniques in order to breach IP-based secure transaction systems. That raises the need for companies to constantly develop new technology to stay ahead of the curve, making their dominion a secure one from all perspectives.
The main concepts of IP-surveillance and security systems are to assist in network security protocols. They are layered around the flowchart of processes in any given financial organization, with the intent to provide reliable services that are state of the art.
Video Surveillance Monitoring
Also, banks not only make their business transactions secure on the Internet level, but also on the physical scenario as well. In recent years, the latest technological advancements have allowed for video surveillance systems to be enhanced in diverse elements in order to reduce surveillance and security costs, and serve as a force multiplier.
The main elements seen on the rise of video surveillance advancements include:
- video analytics
- standardized security managements systems used in various sites
- higher quality video recordings, and leveraged remote video recording capabilities
- enhanced sensors consolidated on multiple systems managed through a centralized security management platform
Security & Surveillance for High-Profile Applications
While leveraging remote video capabilities, banks are allowed to make enhanced monitoring of financial transactions that take place at ATMs and branches. With these advanced bank security systems, customers are securer as their financial transactions are monitored and validated. Also, once suspicious activity is detected, it is even possible for 24 hours banks security management teams to analyze transactions as they are happening through a live feed. Then they can also take proactive measures such as activating local police authorities to help their customers, as well as blocking credit cards, bank cards, passwords and many other types of steps.
This scenario proves that the ever evolving IP-based Internet security system as well as the CCTV camera systems will continue to work together to provide security on diverse levels, across many niches in the industry, allowing transactions to take place around the world with the latest cutting edge technologies that become available.
Federally Qualified Health Centers (FQHCs) have been the backbone of the healthcare provider system in the United States for almost 50 years. Initially called Neighborhood Health Centers, FQHCs treated nearly 22 million patients in 2012 alone. Even more, they are there to provide health care services to our nation’s neediest population. An average FQHC is always a nonprofit organization. It also has an independent governing board of directors.
With that said, FQHCs provide health and medical treatment to an underserved area or population, providing comprehensive services and offering a sliding fee scale. Sliding fee scale is required as it offers discounts based on patient’s family size and income in accordance with federal poverty guidelines. Health centers must be open to all, regardless of their ability to pay.
However, many patients are unable to pay for their care services even at their discounted rates. Due to this, there are challenges FQHCs experience collecting payments at the time of service. It’s essential for all FQHCs to maximize insurance billing revenue and implement collection procedures properly.
Issues Surrounding FQHC Billing
The average health center has an insurance billing and collection rate of around 70%. Slide patients and self-pay patients are not included. As FQHC is tailored with many components, sometimes it’s quite challenging to identify breakdowns and bad chains in the FQHC billing process.
There are several causes of lost revenue. In many cases, these causes are outlined below.
- Failure to obtain current patient information
- Failure to collect on previous patient account balances
- Failure to collect co-payments and minimum fees
- Not filing claims timely
- Not working denials timely
- Physicians not recording all services performed during the office visit
- Failure to redirect claims properly
In order to maximize medical billing revenue streams, FQHC billing systems should require:
- An adequate and competitive fee schedule
- Timely follow-up on all uncollected amounts
- A corresponding schedule of discounts
- Billing of patients in accordance with the schedule of discounts
Even more, in order to maximize revenue, there need to be some consequences. Past balances cannot be ignored. If needed, attorney and collection agency should be invited. That’s because there’s a misconception that FQHCs are free clinics. Providing health services to the underserved community requires dedication, staff, resources and budget. While federal programs help offset certain costs, FQHCs are expected to pay their fair share based on their ability to pay.
Professional FQHC Billing Services & Training
Since the revenue stream in an FQHC center is the lifeblood that keeps the center active, it often makes sense to consult industry experts. Below are discussed top 3 billing training providers.
Practice Management offers the much needed experience and resources to improve FQHC billing systems. They are well-versed in providing a wide range of medical billing services, with expertise in FQHC billing services. Practice Management is reputable medical billing company with a proven track record in maximizing revenue as well as decreasing collection turn-around time.
Visualutions is a well-established company that wants to help your health center prepare and train for billing collections. You need to provide them with a few details so they can assist you in coordinating the training to your system. As their name implies, they are interested in solutions.
Synergy Billing is the industry’s leading FQHC billing company with the best collection rates. As the FQHC billing process is sometimes complicated, community health centers face a number of billing challenges. Synergy Billing has lots of experience in helping community health centers maximize their FQHC billing revenue. They believe there are effective ways to collect every dollar for your health center.