Radiology Results

In order to enhance cash flow using timely, accurate billing services, MFM first analyzed the radiology group’s business to devise a custom solution. MFM followed up with a thorough fee analysis to ensure charges adequately covered contract allowances.

After establishing an electronic system to access client data, MFM began verifying appointment eligibility in advance, reducing the number of exams written off due to authorization issues. And MFM used eligibility information to determine amounts to be collected at each exam, improving cash flow and reducing bad debt.

MFM sped up other functions, including taking demographic data and loading it into the billing system within 24 hours. By accessing reports as soon as they were dictated, the company began to accurately code and bill for each exam, also within 24 hours. In addition, MFM compared scheduled to billed exams, confirming all exams were billed.

Meanwhile, MFM enhanced cash flow via daily insurance billing and frequent statement generation. The company also checked contract compliance, comparing remittance amounts against contract rates. And MFM began aggressively challenging denials, issuing timely and effective appeals.

In the end, MFM’s multi-faceted, custom strategy provided our client with better cash flows and improved collection percentages while driving down both bad debt and accounts receivable balances.