Outsourcing your billing allows you, as the provider, more time to concentrate on providing the best care and treatment to your patients. Fairbanks Billing Services will continuously pursue insurance companies or patient balances.

 

The BENEFITS of Fairbanks Billing Services:

• Improved cash flow with continuous expedient billing
• Save thousands of dollars on purchasing computers, software, training staff, upgrades, maintenance, repairs and support
• Improve your productivity
• Boost your revenue
• Decrease labor cost, staff recruiting, supply costs, and overhead expenses
• Diminish your claims rejection rate
• Ability to provide better customer service to your patients

 

FACTS:

• Over 50% of claims that are “lost” or are underpaid are never pursed by a physicians office for payment
• It costs the average insurance company about $25 each time a representative has to get on the phone and discuss a lost or underpaid claim with a medical billing specialist
• Payers “grade” each provider, the lower the grade the more likely the payers are to lose or under pay the providers claim. (This is why all claims that we bill for are called on at day 45 and followed up on each month thereafter until paid)

 

STATISTIC:

More than 70% of consumers fall victim to a misleading classified ad or internet opportunity for medical claims processing. Many individuals have suffered tremendous financial losses due to being persuaded to invest in software that suggest quick profitability. (from HBMA website).

 

THE OVERALL BENEFIT TO YOUR PRACTICE:
(information from Medical Claims Billing Services Guide 2003 review)

• Your revenue will improve approximately TEN PERCENT
• Reduction in staffing costs will improve approximately 45 PERCENT
• Decline in other overheads will improve approximately TEN PERCENT
• Time savings for senior management (physician) approximately TWENTY PERCENT