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Frequently Asked Questions (FAQ)

Medical Revenue & Practice Management will meet with you to conduct an operational analysis to determine your needs and then work with you on reducing costs and increasing revenues with the long-term goal of building a successful business.

How do you stay current with changes in billing regulations?

MR-PM is committed to staying current with the ever changing third party payer regulations. We have teamed up with PPM Connect, one of the most state-of-the-art internet based billing software systems Together we are dedicated to maintaining our billing software current with all regulatory and compliance changes. We also keep abreast of updated news announcements via our professional organizations and the American Society of Anesthesiologist (ASA) as well as the American Association of Nurse Anesthetists (AANA).

What do you consider acceptable days in A/R?

Days in A/R may vary from client to client primarily depending on the automated systems in place with each client. If a client has systems in place for electronic transmissions in all key phases of the billing process ie., demographic downloading, claims submissions and remittances then MR-PM would strive for days in A/R to be in the 30-40 range. The other key component that affects days in A/R is, each clients’ payer mix. If a client has a large Medicaid HMO, Auto or Work Comp patient base, days in A/R would tend to be higher in these instances. MR-PM is dedicated to work with each client to ensure the lowest possible days in A/R for their specific practice.

What are Medical Revenue & Practice Management’s fees for providing billing services?

Many companies will advertise that they guarantee the lowest fees while other companies will say “you get what you pay for” therefore, justifying higher rates. MR-PM is committed to delivering superior services at the most competitive rates for the services we mutually agree to provide. Contracts and agreed services will vary by client and we are dedicated to reaching a contract where both parties are completely satisfied. For example, billing for the practice is tailored to the client’s preference, allowing them to choose the number of statements their patients may receive and standard time periods you want us to work with patients on payment of their outstanding balance. Examples of different contracts include types of professional service provided. We will perform periodic auditing of our services and provide you with our performance results and guarantee

MR-PM typically will offer a contract fee percentage for billing based on payments posted. However, we also have contracted our billing services based on a fee per claims submitted.

Why should we select Medical Revenue & Practice Management?

The experience level of the MR-PM family is outstanding. We have worked together for many years specializing in anesthesia and pain medicine billing and practice management. It is standard practice for our staff to work each account to completion including challenge all usual and customary denials, ensuring all collectible dollars are received. We have developed excellence in our provider/patient relationships, are vigilant in our efforts to collect from insurance companies and as a result have a superior net collection ratio for our clients.

MR-PM has teamed up with BAS (Bolder Anesthesia Solutions) to give us a state-of-the-art internet based computer software that specializes in anesthesia and pain management billing. We have the most advanced systems in place that gives our staff the knowledge and instant access needed to follow up with third party payers and patients. We also have the most sophisticated software available that enables us to provide our clients with numerous financial reports immediately

We also have extensive background in contract negotiations with Hospitals and third party payers and offer a full range of practice management and consulting services.