TechStar MDs provides a comprehensive set of reports that provide insights into various aspects of the practice's financial performance, operational efficiency, and revenue cycle management. We provide the following reports that can help you gain a holistic view of your practice:
Revenue Report: Provides an overview of the practice's total revenue, broken down by payer, service, or provider. It helps identify the most profitable services or payers.
Accounts Receivable (AR) Report: Shows the outstanding balances and aging of accounts, allowing you to monitor cash flow, identify delinquent accounts, and track the effectiveness of your collections efforts.
Payer Mix Report: Analyzes the distribution of your revenue by different payers, helping you evaluate payer relationships and negotiate favorable contracts.
Denial Analysis Report: Identifies the reasons for claim denials and tracks the denial rate. It helps pinpoint recurring issues, implement corrective measures, and minimize revenue loss.
Claims Rejection Report: Provides details on rejected claims, allowing you to address root causes and improve claim submission accuracy.
Days in Accounts Receivable (AR) Report: Measures the average number of days it takes to collect payment, enabling you to monitor and improve revenue cycle efficiency.
Quality Measures Report: Tracks the practice's performance on quality measures, such as adherence to preventive care guidelines or population health management. It helps meet reporting requirements, enhance patient care, and participate in value-based reimbursement programs.
Compliance Audit Report: Assesses compliance with billing and coding regulations, identifying any potential issues or risks.
Why choose TechStar MDs?
TechStar MDs specializes in billing and revenue cycle management. We have dedicated teams of experienced professionals who are knowledgeable about the complex coding, billing, and reimbursement processes. Their expertise ensures accurate and efficient claim submission, reducing the risk of errors and claim denials. We have streamlined processes, advanced technology, and economies of scale to handle billing tasks efficiently.
By outsourcing TechStar MDs, you can focus on your core competencies, such as patient care and practice management. Medical billing can be time-consuming and requires continuous training and staying updated with changing regulations. Offloading these tasks to us allows you to dedicate more time and resources to delivering quality healthcare services. We have processes in place to streamline the claims submission and payment collection process. We ensure that claims are submitted promptly and accurately, leading to faster reimbursement. Our timely and efficient billing processes can significantly improve your cash flow. We always stay updated with the latest healthcare regulations, coding guidelines, and billing requirements. And ensure compliance with regulatory changes, reducing the risk of billing errors or non-compliance. This can help you avoid penalties, audits, and potential legal issues.
We adapt to your changing needs. Whether a practice is expanding, downsizing, or dealing with seasonal fluctuations, we can scale our services accordingly. This flexibility allows you to receive the necessary billing support without the challenges of staffing and resource management. Moreover, we provide regular reports and performance metrics, offering insights into the financial health of a practice. We generate customized reports that analyze key performance indicators, reimbursement trends, and claim denials. This data can help you make informed decisions and optimize your revenue cycle management.
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