Billing and Revenue Cycle Management for Physicians

Focused on maximizing practice revenue, enhancing cash flow and cost efficiency, MED3OOO delivers timely, accurate and affordable physician billing and collection services along with the monitoring tools to measure performance and improve revenues and patient care.

The MED3OOO Billing & Revenue Cycle Management team uses leading-edge technology and proven skills in revenue collection to deliver the information and support physician practices need to improve their billing performance and grow revenues.

Most MED3OOO client practices enter patient demographic data and billing information in the practice management (PM) information system (provided by MED3OOO ASP) through scheduling, registration, treatment, discharge, and charge entry. The MED3OOO Central Billing Office staff then accesses the billing information, via the practice management system and manages the remainder of the billing and collection process.

For added efficiency, many MED3OOO clients integrate CodeScan®, a powerful scanning and coding solution that eliminates manual charge entry while providing an intuitive tool for charge editing.  CodeScan® works as a front-end editor and processor and eliminates the need to manually key data into the system; saving time, increasing accuracy, reducing audit exposure, and improving productivity.

MED3OOO billing systems accommodate multiple fee schedules and provide secure electronic data interchange, meeting Medicare and HIPAA compliance requirements.

MED3OOO Reports Track Practice Financial Performance and Identify Growth Strategies

Identifying and taking action on billing and collection improvement opportunities requires accurate timely data. MED3OOO M3/IQ™ Data Warehouse Billing (M3/IQ).

Reports provide our clients with on demand access to accurate practice information they require to evaluate performance and implement operational improvements. Billing and collection performance results, sorted by physician, location and practice, are benchmarked against MED3OOO’s uncompromising standard, and displayed in clear, comprehensive tables and graphs.

Billing performance measures, including total collection rate, days in A/R, A/R over 120 days, denial rate and many more, are reported automatically by the MED3OOO M3/IQ™ Data Warehouse, saving hours of management analysis. These hours can be redirected toward performance improvement.

MED3OOO M3/IQ™ Data Warehouse reports highlight practice performance measures which do not achieve benchmark standards for rapid problem identification and clear communication.  Our M3/IQ reports identify capacity issues, revenue growth strategies, quality measures, and patient care opportunities for strategic decision support and growth planning.  Combining this program with M3/Connect Proactive Patient Outreach and Communitcation tool, your group can improve financial results by increasing visits and physician productivity which proactively managing your patient population and streghening patient compliance.