Revenue Cycle Management for Medical Practicesââ
park medical billing
Revenue Cycle Management for Medical Practices
How much can we improve your revenues?
HELPING YOU GROW FINANCIALLY
Why Choose Park Medical Billing Company?
Most practices donât need an out-of-the-box or cookie-cutter solution! They need a reputable and customizable processes that can meet the unique needs of your medical practice. Only the best medical billing agency can offer that.
Park Medical Billing is a leading name in medical billing services and is dedicated to offering quality billing solutions that add value to healthcare physicians throughout the US. If recovering uncollected money is a concern to you, then Park Medical Billing is the right choice for your business.
We have the experts, knowledge, technology, and commitment to providing 100 percent customer satisfaction. We leverage high-level data mining, intuitive reporting, and aggressive claims follow-up to strive for a 95% monthly collection rate.
This is how our HIPAA-compliant medical billing service can help recover whatâs due to you.
Latest Healthcare Technology
Our cutting-edge technology and billing solutions set Park Medical Billing apart from a typical medical billing company. We utilize the latest technology to prevent the most common billing and coding errors to maximize output. Let our future-focused and tech-savvy billing solutions save you valuable resources and time. Our experienced and trained medical billers apply the latest billing guidelines to ensure a 95% clean claim submission. Park Medical Billing also provides automated AI data entry by integrating your electronic health records to provide transparent Revenue Cycle Management reports in real-time.
Medical Billing Services That Increase Your Revenue
Our focus is to increase your practiceâs profitability by maximizing each claims reimbursement. Let us take care of the business side of the revenue cycle by implementing the best billing processes and developing suitable workflow plans for your employees to focus on what matters most, providing exceptional patient care. Capitalize your revenue today and rest assure that your partnerâs at Park Medical Billing in New Jersey are working diligently so you can continue to offer quality care to patients.
Not Just a Billing Service
Park Medical Billing offers not only medical billing and medical coding services. We also provide credentialing, revenue cycle management, state-of-the-art EHR, and practice management solutions that ensure your organization achieves all its benchmarks.
Medical Billing Agency That Offers Reliable Client Support
Park Medical Billing prioritizes quality customer service and support. Our mission is to help you grow your medical practice, and we are always there to provide the support and assistance you need.
No Long Term Contracts
There is no legal obligation for your medical practice to remain with our medical billing company. We are pretty confident that you will stay with us when you partner with Park Medical Billing. However, if you decide to leave, rest assured there will be no penalties or hassle. We only have monthly contracts, and there are no hidden fees with our billing service - Park Medical Billing discloses all our charges to you upfront.
Real-time Tracking
Offering customized and easy-to-read reports are our forte. Our web-based dashboard offers interactive charting at your fingertips. With the capability to produce fully customized reports along with revenue cycle management, insurance reimbursements and provider performance to provide complete in-depth analytic insights you can use to improve your processes.
How Park Medical Billing Increases Your Practice Revenue
Integrated Systems
Successful medical billing starts at the data entry stage. We leverage automated integration and the best software to transfer your billing information securely from your EMR or EHR to our system. This system integration makes: billing simpler, reduces data entry errors, expedites claim submissions. For you, it means that your medical billing cycle is substantially shortened.
Custom Scrubbing
We are a reliable medical billing company in NJ and NY that uses certified professional coders to scrub claims before sending them off to payors. Park Medical Billing submits clean claims â complete and correct the first time. If you work with us, you will have your own scrubber, updated with the latest insurance regulations, rules, and your practiceâs unique preferences and needs. This is ideal for larger medical practices and leads to faster claim processing and fewer rejections.
Daily Denial Emails
We use custom algorithms to create our unique Daily Denial Reports. We email you these reports every morning. These reports cover the previous dayâs denials from all ERAs that came in, making revenue cycle management and practice management simple and more efficient. This is because these unique emails save countless hours of work, so Park Medical Billingâs billers can dedicate their valuable time and energy to working these denials to increase your reimbursement and improve your business bottom line.
Real-time Reporting
When it comes to offering transparency, value, and business insight, our intuitive reporting sets us apart from other medical billing companies in the area. We share financial reports to demonstrate impressive returns on investment and show your medical practiceâs financial information. This allows you to see all aspects of your billing cycle.
our services
Park Medical Billing Company offers comprehensive revenue cycle management right from the moment your patients walk in the door until the payment for your medical or healthcare services are received. We offer:
Healthcare Billing Services
Being the best medical billing company in NY and NJ, we offer medical practice billing services that streamline your account management and improve efficiency from initial contact to payment and beyond. We offer customized Revenue Cycle Management solutions for various healthcare providers, such as physical therapists and mental health professionals.
Medical Credentialing
We obtain and negotiate contracts with insurance payors and make sure that your medical facility or physicianâs contracts with insurance providers are up to date and accurate. Let the credentialing experts at Park Medical Billing in New York and New Jersey facilitate your relationships with insurance providers and patients, allowing you to eliminate confusion, serve more patients with quality care, and achieve the highest reimbursement rates.
Revenue Cycle Management
We offer single healthcare providers and group practices in New Jersey and New York reliable and affordable revenue cycle management services to help them achieve better business performance. With a shorter revenue cycle, your medical practice accelerates cash flow and can keep impeccable records for every account in real-time.
how we measure up
In-house Billing vs Medical Billing Company Cost Analysis
** Figures based on a national industry averages using 3 providers w/ $2.1 million billed annually
| Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â COSTS | Â Â Â Â Â Â Â Â In-House | Â Â Â Â Â Â Â Â Â Â Â Â Â Park Medical Billing |
|---|---|---|
| Billing department costs | $118,000 | $0 |
| Software and hardware costs | $7,500 | $0 |
| Direct claim processing costs | $3,600 (Clearing house fee) | $127,500 *Fee is varied by reimbursement per visit |
| % of billings collected. | 70% | 90% |
| Collections | $1,599,380 | $2,056,500 |
| Collections costs | $129,1000 | $127,500 |
| Collections, net of costs | $1,470,280 | $1,922,880 (24% Revenue Increase) |
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