Tackling missed revenue opportunities at your practice!

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Tackling Missed Revenue Opportunities at
your Practice!
In order to tackle missed revenue opportunities, medical practices will have to bridge
gaps in medical billing, integrate clinical and billing processes and focus on enhancing
their revenue cycle management. With annual payment cuts, rising costs and ICD-10
looming on the horizon, providers cannot afford to lose more money.
Industry Standards
 As per the final rule, SGR pay cut for 2014 will be approximately 24% which will
affect the financial health of medical practices
 Implementation of ICD-10 in 2014 will not only lead to system re-designing but

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also result in disrupted cash flow
 Fee-for-service contracts have been negotiated with physicians by third party
payers. This has resulted in reimbursement at less than 100% of charges
Why does a practice lose money?
 Inefficiency in the medical billing process is the main reason due to which
practices are missing opportunities to maximize revenue and minimize claim
denials
 Providers who fail to tackle same-day collections, clean claims, underpayments
and preventable denials are facing annual revenue losses

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 Bad debt recovery, coding errors, time-of-service collections, managed care
contracts, work flow, adjusted collections are some of the areas where providers
should look for missed revenue opportunities
 Lack of internal control and missed charges that not only present missed
opportunity for revenue collection but also missed tracking of resources and
supplies
 Inefficiency in collection of upfront payments also needs to be addressed in
order to tackle missed revenue opportunities

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Don’t miss opportunities to collect revenue at your practice:
Providers can improve the financial standing of their practice by handling the below-
mentioned opportunities in the right manner-
 Hire experienced coders to reduce the chances of inaccurate and incomplete
coding
 Improve patient schedule system, send reminder calls to patients 24-48 hours
before their appointment and bill them a no show fee for missing that
appointment
 Ensuring that unauthorized patient procedures or services don’t lead to denied
claims
 Getting rid of outdated fee schedule
 Timely appeal for denied claims
 Reduce the occurrence of missed charges on patient accounts

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 Collecting upfront payments, deductibles, co-insurance and co-payments
Tackling missed revenue opportunities with MBC!
Practices can tackle missed revenue opportunities by choosing a medical billing
company like Medicalbillersandcoders.com that will not only optimize billing processes
but also offer effective revenue cycle management.
Use of latest technology: you don’t need to worry about investing in latest software and
systems. MBC makes use of all the necessary resources and processes to enhance
collection rate and minimize claim denials
Error-free claim submission: MBC has the largest consortium of billers and coders who

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can help your practice collect maximum revenue through error-free coding and billing
Customized services: MBC offers specialized billing services customized as per your
management needs. You can either take the entire suite of services from MBC or choose
certain services as per your practice requirements
Effective solutions for revenue generation: MBC not only helps practices identify areas
that need improvement for better collection rate but also offers effective solutions to
overcome challenges, if any
The expert team of coders and billers at MBC has been successfully helping practices
identify missed revenue opportunities.
MBC = Optimize Billing Processes + Increased Revenues

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Tackling missed revenue opportunities at your practice!

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Tackling missed revenue opportunities at your practice!