Staying on budget and managing cash flow can be difficult when juggling expenses, collections and reimbursements. A lack an understanding of revenue cycle management can cause internal billing and coding errors, a failure to prioritize patient collections, not properly educating patients about payment policies or not verifying insurance for every patient.
Revenue cycle management is a complex interaction of services, billing codes, benefit analysis, and successful invoicing. Now that high-deductible health plans are more common, reimbursement patterns started shifting and doctors must develop good ways of interacting with patients to encourage payment of their bills. TFG Health Professionals can help you put a financial policy in place. We can design an audit process to help you track delinquent accounts prior to patient visit, and have our accountants analyze financial reports at month end to identify problems. Help and a more profitable practice is just a phone call away.
Is it time for your healthcare practice to have a check-up?
We have solutions to help you protect and enhance your bottom line so you can spend more time practicing medicine and taking care of patients.
Look to TFG Health for advice on: new payment models and care paradigms, revenue builders, cutting expenses, insurance planning, buy/sell agreements, new hiring physicians and mid-level providers properly, maximizing patient collections, preventing fraud in your practice, adding new products and services like telemedicine to increase profitability, Stark Law updates, and more.