Making The Right Choice For Your Practice
The business of medicine is becoming progressively more complicated every day as insurance reimbursement rates decline, operating costs go up, and administrative challenges increase. From intricate and mandatory compliance requirements to IT-related issues like security and reliability, it is becoming increasingly difficult to manage your practice without losing focus on what is most important to you: the quality of care your patients receive.
The importance of managing your business operations is vital. If administered incorrectly, it can cause lost revenue, decreased cash flow, increased costs, and too much time and attention spent on administrative matters, which ultimately results in the lowering of your bottom line.
Most, if not all, practicing healthcare providers believe that medical billing is one of the most complex and crucial components of their business. As the management of medical practices evolves with the introduction of new technologies, government requirements, quality assurance measures, and financial limitations, practices often find themselves having to make crucial decisions to both save expenses and generate revenue.
Growth At Your Pace
THE SMALL PRACTICE
Just like no man is an island, no solo practice is truly solo. The differences between solo and group practices are not differences in kind but of degree and application. Rx Billing Specialists is big enough to have a powerful impact, yet small enough to genuinely care, and when you partner with us, we join your team as an extension of your office.
We match our services to your needs, providing an honest, hardworking team with specialized skills to create an efficient work flow. Rx Billing Specialists is locally owned & operated, working alongside physicians for more than 15 years. We make it possible for you to stop hiring, managing, and training billing staff, avoid delays due to vacation, sick time, or staff turnover, reduce costs associated with salaries & benefits, hardware & software, office space, and supplies. When you partner with us, you can focus more time and energy on what you do best: practicing medicine.
ASSESS YOUR PRACTICE
Is your AR aging out of control?
Are more claims being denied?
Is your collection rate declining?
Are some of your charges not making it to payers?
Are you spending too much time on the business aspect of medicine?
Do you want to focus more time on patient care?
Are you frustrated with the effectiveness of your billing process?
Are you having trouble hiring experienced & qualified billing staff?
Does your team lack a certified professional coder?
Are you planning to expand your practice?
Are hardware, software, and IT issues disrupting the operation of your practice?
Are you short on space?
Do you believe that your practice’s cost structure is too high?
Your Success Is Our Business
National statistics show that only about 70 percent of insurance claims initially submitted by providers are ever processed and paid by insurance carriers. With electronic submissions, tracking tools, and active denial management, Rx Billing Specialists can greatly increase the percentage of claims paid.
THE OTHER GUYS
Traditional medical billing companies charge on an outdated per-claim submission basis. After claims are submitted, they leave the crucial responsibility of claim follow-up and patient AR management unresolved and unmanaged. With no real personal relationship with their providers, their corporate policies and needs often supersede your own.
The staff at Rx Billing Specialists has more than 30 years of experience in medical billing, coding, credentialing, and payer relations. This experience, coupled with a tenacious attitude toward pursuing claims and a personal rapport with our physicians helps us work as an extension of your office and maximize your practice’s success. We don’t get paid until you do.
We Support Both Provider & Patient
Patients who are highly satisfied with a physician’s billing practices are more than 5 times as likely to recommend the physician to a friend. As patient perceptions of the billing office decline, their satisfaction with the practice as a whole deteriorates. It has been shown that continuity of care greatly affects patient welfare, and poor billing practices can jeopardize this relationship.
Healthcare Providers’ primary goal is to care for patients. This becomes difficult when faced with countless variables in insurance policies and ever-changing terms resulting in nearly 30% of claims submitted by providers being denied on the first attempt. Often these claims are immediately assigned to patient responsibility instead of being corrected and resubmitted. This puts financial strain on both the physician and the patient.
Rx Billing Specialists understands the delicate balance with maintaining patient relationships and collecting on past due balances. While we work with insurance companies to collect the maximum reimbursement possible, we provide a gentler response to patients with options for settling their account.
Put Us To Work For You
WHAT WE DO
Complete revenue cycle management is the process that keeps track of the claims process at every point of its life. Rx Billing Specialists follows the process and addresses each issue, allowing for a steady stream of revenue. Our services reduce your AR backlog and uncover opportunities to resolve accounts and increase reimbursement. This system helps provide you with a comprehensive solution for medical billing:
Locally Owned & Operated
15 years in business with over 30 years of experience
Big enough to have a powerful impact, yet small enough to genuinely care as though an extension of your office
Our efficient workflow is produced by specialization among our staff
Complete AR management
Active claim denial prevention and management
Thorough provider credentialing with insurance networks
Certified Professional Coding
WHAT YOU CAN EXPECT
We get your outstanding AR caught up and managed
We provide balanced support for both physicians and their patients
Stop hiring, managing, and training billing staff
Avoid workflow interruptions due to vacation, sick time, or staff turnover
Reduce costs associated with salaries & benefits, hardware & software, office space, and supplies
Our fees are a percentage of collected revenue, not a fixed cost
Daily posting and deposits
Proactive regulatory compliance
Increased opportunity to spend more time and resources on patient care