New temporary Accounts Receivable, Staffing, and RCM services are designed to help practices facing current staffing or financial challenges
AgilityMD and PractiSource are ready to assist any and all medical practices which use the AdvancedMD software platform during the COVID-19 pandemic (other platforms are also available, as listed below). We realize that many practices are facing an unprecedented situation filled with unforeseen patient care, staffing and financial challenges. While caring for your patients is always paramount, times like these require that medical professionals collect revenues properly for the hard work they perform since without that, they cannot pay for the resources required to provide care to their patients. And this comes at a time when patients will be leaning on their providers for help more than ever.
AgilityMD, an AdvancedMD partner, is now providing medical practices which use AdvancedMD software with three new temporary services to help improve revenue collections. These include Old Accounts Receivable Cash Recovery Services, Temporary Billing Management Services, and Full Service Medical Billing functions.
Before we continue – a few quick words regarding profiteering. To some, our offer to assist practices and labs during this time may have the initial outward appearance of profiteering from the COVID-19 pandemic. Nothing could be further from the truth. As a healthcare revenue cycle management and medical billing company, our revenues are only in direct proportion to the revenues received by our clients. When our clients have to reduce patient loads, change business models or even shutter their doors temporarily, our revenue drops in direct proportion to theirs. So the reality is that now, more than ever, we are all in this together. AgilityMD, a PractiSource division, is a family-owned company which treats all of our employees and clients as family. By providing these services we simply help medical providers as well as our employees.
So, now more information regarding these services:
Old Accounts Receivable Cash Recovery Services
From our experience, fewer than one quarter of medical practices on AdvancedMD do a good job of properly going after their old AR (Accounts Receivable) to maximize revenues. The upshot is that many practices are therefore leaving money on the table (or more accurately – leaving it with the insurance payers), money that truly belongs to the practice. The longer it stays in your AR, the less likely it is you will get paid.
AgilityMD can help retrieve many of these dollars which may otherwise never be collected.
There are no startup, staffing, or processing fees. You simply pay us only after we’ve collected your funds. So there is no financial risk to the practice – only potential upside.
The process is simple. After a brief phone call and signing of privacy forms, the AgilityMD Team will review your Accounts Receivable online. Once this is complete we simply schedule a second call to review our findings and determine with the practice if our AR services would likely be of benefit. If it is, we can get started right away. Our highly experienced RCM specialists will immediately start contacting insurance payers, filing appeals and taking the necessary steps to get your old claims paid. There is no charge for the analysis, no obligation and no long term commitments.
The AgilityMD Team has been maximizing revenues for practices using AdvancedMD since the very first day AdvancedMD came into existence. Our Old Accounts Receivable Cash Recovery Services allow you to put the power and experience of that team to work for you today.
Temporary Billing Management Services
We realize that many medical practices are struggling right now. Many have been forced to close their doors or drastically reduce their patient load. Consequently, medical practices have been forced to layoff or furlough staff.
This goes for billing staff as well. Without a fully-staffed billing department, revenue declines disproportionately as functions such as payment posting, secondary payer billing and outstanding claims follow-up no longer take place as needed. During these times it is essential that the billing and revenue cycle management process continues – and does so optimally.
AgilityMD is now offering temporary medical billing management services to medical practices facing these challenges. Our team can provide as much or as little support as needed to help your practice get through these challenges. Just reach out to us today and we can put together a custom plan to help your billing operations continue without disruption.
Temporary Full Service Medical Billing
While Full Service Billing and Revenue Cycle Management services are the centerpiece of AgilityMD’s AdvancedMD related services, we are now going to offer services to practices which are being impacted by the COVID-19 pandemic with temporary terms or reduced requirements. By custom tailoring these services to each client, we can help practices maintain billing continuity, while also reducing system, labor and other associated expenses.
During this pandemic, medical practices are realizing one main benefit to outsourcing their billing to a trusted partner – expense proportionality. With traditional in-house billing models, medical practices pay mostly static costs such as salaries and system costs. In the current difficult time when practices are cutting hours, those costs do not change and physicians are forced make difficult decisions, many related to staffing. In contrast, full service outsourced medical billing models have related expenses which are typically in direct proportion to revenue and which are only paid once payment has already been received by the practice from payers. Therefore, should a practice experience decreased revenue due to unforeseen circumstances (like the current situation), or even planned events (ie. reduced visits due to vacations..etc.), then the expenses incurred for these activities are automatically reduced in direct proportion.
AgilityMD full service medical billing services not only have the benefit of expense proportionality, but also provide medical practices with much greater resources and billing experience than they typically could ever match on an in-house basis. AgilityMD is offering a free consultation to any medical practice which would like to explore whether our temporary services might be a good fit – or if they just want some free advice.
Specialties Served and Availability
AgilityMD and PractiSource Temporary Accounts Receivable, Temporary Billing Management Services, and Full Service Medical Billing services are available to medical practices of all specialties, sizes and geographic locations within the United States which currently utilize any of the following software platforms:
Meridian / VertexDr Software
For a free, personal consultation regarding any of the above services (or if you just want some advice), please just call us at 860-840-2244 or request a consultation online at https://www.agilitymd.com/contact
During this difficult time, please know that PractiSource has your back – now more than ever.
About PractiSource and AgilityMD
AgilityMD is a division of PractiSource, LLC is a full-service medical billing and revenue cycle management (RCM) company dedicated to maximizing medical provider reimbursement with the highest levels of concierge-style customer service and support. The company provides services to physician groups and clinical laboratories. With offices in Springfield, Massachusetts and Tolland, Connecticut, PractiSource serves clients nationwide. Visit us at www.AgilityMD.com or www.practisource.com