FAQ's

Technology

Billing

Collections

Accounting

Reporting

Customer Service

Questions And Answers

Technology

Will Practice Management be equipped to keep pace with industry software requirements and coding regulations changes?
Yes. Our human and technology resources are on the forefront of medical billing. By staying one step ahead of industry requirements, our services will save you valuable time and money. You will receive peace of mind knowing your accounts receivable is in good hands. We stay up-to-date on coding requirements and medical policies specific to each payer.

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What information systems does Practice Management use?
We use HEALTH PAC.

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Do your clients have remote access to their office's data?
Yes.

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Does Practice Management use direct electronic submission when billing third party payers (TPPs)?
Yes. We submit electronically to Medicare, Blue Cross/Blue Shield, Commercial Payers, and the Illinois Department of Public Aid.

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What data security measures are used and how often?
To gain access to our system, each user is required to utilize their own unique user ID and password. User-specific passwords are promptly removed if the user should cease employment with Practice Management. Clients or remote users only have access to their own practice's data.

Back-up data files are made daily, which are then taken off-site for further protection. On any given day, two back-up files are guaranteed to be located off-site. In addition, we have a secure off-site back-up service.
 

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Can Practice Management work within with my Electronic Health Record (EHR)?
Yes. Practice Management can work within the practice management portion of any EHR.

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Billing

How does Practice Management receive the billing information from the physician's office?
Practice Management can receive electronic files from the physician's office via HIPAA compliant methods:  a secure encrypted site, Priority Mail or another similar service. If Priority Mail is used, Practice Management pays for the cost to deliver all necessary billing information. Frequency of delivery is related to practice volume: smaller practices will require delivery once or twice per week; larger practices, three times per week or more.

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What is the turnaround time from services being rendered to the first bill being generated?
An initial statement is sent when the patient's balance appears on their account; follow-up statements will be sent every 30 days thereafter. Insurance claims are filed daily.

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Who codes the diagnosis (ICD-9-CM or ICD-10-CM) information on the bill?
The physician indicates the diagnosis in their Electronic Health Record (EHR) program or checks off the diagnosis code on an encounter form/super bill.  However, if diagnoses are hand-written, Practice Management is proficient in coding them for the physician.

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Are bills mailed first class?
Yes.

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What is your fee for billing services?
Our fee is based on specialty, payer mix and volume. Complete the Practice Consultation Worksheet for a free, no obligation proposal specific to your practice. Click here to download form.

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What is your fee for credentialing?
Our credentialing package for new clients is $895 per provider per location for the first year and $500 per provider per location for subsequent years. Fees vary by carrier without credentialing package.

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How long will it take for the billing services to be implemented at my practice?
It typically takes 7-14 business days to be up and running if the practice is already credentialed with the plans; however, it is possible to begin immediately if needed.

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How do I get started?
Complete the Practice Consultation Worksheet. Upon review, a Service Agreement with fees specific to your practice and a Business Associate Agreement will be sent to you.

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Collections

At what point does Practice Management consider a patient or third party payer (TPP) delinquent?
If payment is not received within 60 days of the initial statement date, the payee is considered delinquent and their account is moved into pre-collection status.
 

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Once an account is moved into pre-collection status, what procedures are in place to secure payment on the account?
Once a patient's account is given pre-collection status, we begin a systematic process to secure the payment. This patient receives three statements as a reminder of their overdue balance, and as motivation to settle their bill. Next, we follow-up with a series of automated phone calls to the patient, and finally, a delinquency notice is sent. If payment is still not secured after this process is completed, a list of accounts intended for collection is presented to the client for approval on a monthly basis.
 

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Accounting

How frequently are a physician's accounts posted?
Daily. Patient visits and charges are entered as the information is received. Typically, accounts are posted within 2 days of receiving billing slips or sooner if the practice submits billing information electronically.
 

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Where are the checks sent?
Checks may be sent directly to the physician or to Practice Management. If you decide to have the patient checks and insurance checks go to your address, we would need to receive copies of the checks, the statement remittance stubs and Explanation of Benefits (EOBs). If you want the patient checks and insurance checks to be sent to us, you would need an account at a bank that has national branches so we could deposit on your behalf. Currently we deposit weekly at Bank of America, Chase Bank, Harris, and PNC for our out of state clients. If you do not have an account at one of these banks, we can check for a local branch of your bank.

 
 

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How often are deposit tickets and other remittance advice given to the physician?
They are passed on to the physician as they are received. Typically, they are sent on a weekly or semi-weekly basis. Frequency is dependent on volume.
 

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How often is a physician's office invoiced for your services?
Monthly.

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Reporting

What reports are typically sent with billing invoices?
  • Annual Report
  • Periodic Audit Recap Report
  • Procedure Productivity Report
  • Aged Trial Balance by Insurance Carrier
  • Aged Trial Balance by Patient

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Are additional monthly reports or custom reports available?
Yes. Our information system is capable of utilizing hundreds of variables to create reports specific to your practice's needs at no additional charge. Custom reports are also available, but may require an additional fee depending on the report complexity and programming time required by our software vendor.
 

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Does your system have the capability to provide physicians with information regarding the financial class of TPPs (e.g. PPO, Indemnity, Medicare, Medicaid)?
Yes. We also have the ability to track your contracted rates vs. actual payments. Should actual payments/allowed amounts come in below your contract rate, we pursue this directly with the carrier.
 

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Do your reports include counts of individually CPT coded services per month?
Yes. The Procedure Productivity Report details this information by period as well as year-to-date total.
 

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Customer Service

Do you have a customer service phone line for patient questions?
Yes. A customer service phone line will be assigned for your patient questions.

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What are your customer service hours?
Monday thru Friday, 9:00am to 5:00pm

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What is the client to representative ratio?
This is dependent on the client's patient volume. For example, one representative may be responsible for a single high volume physician; another representative, several lower volume physicians. Large multi-physician clients may require several representatives to service their account. All service representatives are cross-trained in order to provide our clients with consistent coverage in the event of vacation or illness.
 

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Among your representatives, what is the average length of service?
On average, our representatives have been with Practice Management for 3 years.
 

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What type of training do your customer service representatives receive?
Whether it is answering patient questions regarding their statements or questions about their insurance coverage, our representatives provide superior customer service to your patients. Representatives are able to resolve routine and non-routine patient questions promptly. With extensive training in the areas of HIPAA and Compliance, representatives understand all patient communication is to remain confidential so no personal health information is disclosed to the public. Practice Management maintains ethical standards and remains fully compliant with all state, federal, and local laws and is continually monitored by its own in-house Compliance Committee.
 
Cross training of duties and software is also mandated in the event a representative is absent or busy with another task. While training is done prior to employment, representatives pursue professional excellence with ongoing training in the areas of coding, billing, insurance, rules and regulations.

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What type of training do your billing and coding representatives receive?
Our medical billing and coding representatives are experts in the industry as they have received training in a multitude of areas prior to employment, and receive continuous training as employees of Practice Management. To ensure all representatives keep pace with industry software and coding requirements, ongoing training in the areas of coding, billing, insurance, rules and regulations is required. They receive intensive HIPAA and Compliance training as it is pertinent for the individuals to understand who is permitted to view medical information and the steps taken in order to guarantee no patient files reach the public domain. Compliance training allows the representatives to be knowledgeable of how to achieve precise coding, sufficient documentation and ensures all aspects of medical billing, coding and collections are handled within the industry laws and regulations.
 
Cross training of duties and software is done in the event a representative is absent or busy with another task. This ultimately makes Practice Management more productive and leads to better service for our clients.

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Practice Management | 300 N. Martingale, Suite 150, Schaumburg, IL 60173 | Ph: 800.395.7780
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