We ARE Different! Knowledge and experience are the keys to MBR's success. But there are other factors that set us apart from other medical billing organizations.
High Collection Rate
Medical Billing Resources collection rate is significantly above the 92% national average net rate (payments divided by gross charges minus adjustments) MBR's 95% -- 98% collection rate alone can add 3% to 6% to your bottom line.
The bottom line in medical billing is the collection rate. How much money is collected compared to how much was billed. Medical Billing Resources' collection rate is significantly above the national average. First you should define "collection rate". The "Net" definition is defined as: payments divided by gross charges, minus adjustments. Our average "Net" collection range is 95% to 98% of your allowed amounts (based on payer contracted rates) and specialty. The National Average for Primary Care providers is 92% for Net, and 65% Gross collections.
We are persistent and thorough in pursuing claims.
ADVANCED COLLECTION TECHNIQUES
Secondary Claims - If two insurance companies cover a claim, there is a tendency to ignore the secondary claim, especially if it is only for a small percentage of the overall cost. We go after the entire claim, from all insurers.
Rejected Claims - Too often a claim that is rejected is never collected. We go after rejected claims immediately, because the longer a rejection sits, the less chance it will be paid.
Edits - An edit means the insurance company is questioning something in the way the claim is filed. Just as with a rejection, it can mean delay or denial of payment. We work closely with insurers to minimize edits and to resolve them quickly when they do occur.
Accuracy
With the volume and complexity in medical billing today, accuracy is at a premium. Any error can cause a delay in payment or a loss of revenue. At Medical Billing Resources, we don't just say we are accurate- we prove it.
Blue Cross of Michigan has named Medical Billing Resources one of their top ten billing services, based on the fewest number of errors.
Speed
All of our claims are billed within 24 hours of when we receive them. That means no payment delays for you.
State-of-the-Art Computer Network
Our advanced computer system is another reason we can process claims so quickly and efficiently. That system includes:
- High Speed Servers and High Speed Workstations
- Daily back-ups of all client information
- Weekly offsite disaster recovery back-ups
- Secure remote connections for patient accounts and balances
- Electronic Medical Billing Records (EMBR)
- In-house IT staff to ensure consistent support
Our Virtual Private Network (VPN) allows you to view all your records electronically. We also offer:
- Electronic Remittance Notification (ERN), which allows you to receive information on processed claims, which can be used to automatically update your patient record
- Electronic Claims Status (ECS), which allows you to obtain the status of claims which are at least 14 days old, but have not yet been finalized, eliminating the need for telephone inquiries
- Electronic Rejects, which allow you to receive information about claims rejected by Medicare's front end edits
HIPAA
HIPAA policy is strictly adhered to in every function of our business. Our compliance program was developed in conjunction with industry standards. Furthermore, MBR'S software is fully HIPAA compliant. Medical Billing Resources policy includes the following:
- Strict compliance with all local, State and Federal regulations.
- Compliance with Healthcare regulations to avoid fraud and abuse.
- Appropriate business and professional coverage and standards of conduct.
Service
We pride ourselves in a high level of customer service. We work closely with your staff to ensure your expectations are met. We will periodically review your billing records and continually look for ways to improve the operation.
We provide either electronic transfer of data directly into our servers for us to process or in most cases we provide convenient daily, biweekly or weekly couriers that pickup your billing at your office so there are no delays in your billing process.
Reports
Medical Billing Resources offers numerous timely reports on all of your billing activities.
- Activity by patient
- Medical diagnosis/procedure
- Charges
- Coverage by insurance
- Payment by patient
- Accounts receivable aging report
- Referral reports by physician
Our reports are detailed, accurate and timely.