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Wednesday April 10, 2013
Are you leaving over 24% of your revenue uncollected?
Physicians today are facing a multitude of challenges as they struggle with payers and other challenges invariably leading to reduced quality of healthcare and informal processes resulting in loss of revenue.
Industry standards state :
  • Majority of physicians leave over 24% of their revenue uncollected
  • Various medical practices report a gross collection rate of 60% or less
Uncollected revenue can adversely affect medical practice especially as experts state that-
  • “Better performing” medical practices collect more than 15% above practices in similar specialty
  • Many of the high performing practices profit margins are atleast 30% higher than their peers
Why most practices are unable to collect maximized revenue?
  • Time constraints to regularly track - 1st time claims, denied claims and underpayments
  • Increased patient demands results in less time to manage....Read More...
How some practices manage to collect more?
  • Increased staff costs which helps increase profitability
  • Investment in Technology and Facilities
These practices help procure higher patient satisfaction and revenues.
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Improving your collections with MBC
MBC has helped it clients across all 50 US States across various specialties improve their revenue.
MBC’s billing model
People — Process — Technology — Work flow — Expertise
End to end Medical Billing Claims Management Denial Management services Technology Optimization Strategies ICD 10 Transition Support Regular Industry Updates Consultancy services.
Benefit with MBC’s billing model
Better visibility of the revenue cycle & better financial control Significantly reduced overhead costs for every claim Lower A/R days & improved cash flow
Dedicated billing consultant for revenue tracking & improved payer management Reduced technology costs & Increased resources for other strategic functions Improved compliance & adaptability to new regulations &  industry changes

The above processes and benefits help increase our clients’ collections by as much as 15-20%!

MBC has been providing revenue management services for over a decade now to healthcare organizations, small to large physician practices, hospitals and groups of all sizes.

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