Family Practice Results

In early 2009, ABC Family Practice was hampered by cash flow issues and struggling to control inordinately high accounts receivable balances. The practice turned to MFM, which put together a custom set of solutions designed to enhance client cash flow via timely, accurate billing.

For starters, MFM conducted a thorough fee analysis, making sure that charges covered contract allowances adequately. MFM soon implemented a scheduling solution for the practice which integrated with MFM’s own billing software. As a result, the client was able to view, enter and modify patient demographic and insurance information as well as scan insurance and identification cards into the system.

In addition, the solution allowed practice personnel to see patient balances at the time of scheduling, giving them the opportunity to be proactive in pursuing past-due balances. The staff could also review accounts and information at any time. Meanwhile, the solution gave MFM professionals access to scanned card images, creating a new efficiency tool.

MFM rolled out additional process enhancements. The company began billing within 24 hours of receipt, stepping up the frequency of statements and sending bills to insurance providers every day. MFM also started comparing allowable remittance amounts against contract rates, making sure insurers paid the amount due. And MFM began conducting timely, effective appeals of denials.

These measures have been highly effective in meeting the needs of ABC Family Practice. In time, MFM’s billing services helped the office stabilize cash flow, drive down accounts receivable and improve the practice’s overall financial health.