Tech Med Solutions

Comprehensive Medical
Billing Services for Large
Practices

A Strong Billing Infrastructure is Key to Our Medical Billing Services

Large practices encounter numerous challenges, from patient registration to claims submission and follow-up. A major struggle is managing multiple claims alongside other administrative tasks.

A strong billing infrastructure fosters transparency, affordability, and flexibility, addressing inefficiencies in the billing process. This is where TMS Tech Med Solutions steps in. Our billing services leverage efficient systems, up-to-date denial management tools, and a skilled team, offering solutions and 24/7 support to streamline your billing operations.

8 Key KPIs for Maximizing ROI

Track these essential metrics to optimize your billing process and accelerate revenue cycle efficiency for your large practice.

4 Key Metrics to Audit Billing and Boost ROI for Your Large Practice

These metrics account for 60% of your billing process’s efficiency, productivity, and financial performance, based on real-world data from our clients.

Days in Accounts Receivable 30-40

Accounts receivable tracks the average number of days it takes for your practice to collect payments. We maintain a lower accounts receivable days ratio, ensuring quicker reimbursements.

 

Net Collection Rate - 98%

The net collection rate reflects the total collections from both patients and insurers. We ensure timely payments, maintaining a high net collection rate for your practice.

 

First Pass Rate - 97%

Also known as the first-pass clean claim rate, this metric measures the acceptance rate of claims on their first submission. Our quality revenue cycle management services help achieve a high first-pass clean claim rate.

 

Claim Denial Rate - 1%

The denial rate shows how effectively your revenue cycle management is working. We actively follow up on denied claims, identify and correct errors, and maximize revenue generation.

Medical Billing Services to Streamline Revenue Cycle Management for Large Practices

Simplify the complexities of medical billing and enhance your financial and healthcare productivity by opting the following billing flowchart for your large practice.

Ensure prior authorization and verify insurance eligibility for medical services such as diagnoses, procedures, and treatments.

Collect, verify, and enter the data into the system to ensure accuracy and error-free billing documentation.

With a 99% clean claim rate we submit accurate claims to ensure a high first-time pass rate so you get the maximum collection rate.

We deploy expert coders and billers to prevent errors and inaccuracies in diagnostic and procedural coding.

Rectification of the root cause of the denial leads to accuracy and successful denial management.

Payments received from the insurer or the patient are posted into the system for record keeping and informing the patient if there’s co-pay.

We follow-up on pending payments and accounts receivables for reimbursements and remaining collections.

Patients are billed with accurate charges to cover their bills against the services they have availed.

By proactively engaging with providers, we help to understand patient's financial obligations and encourage timely payments.

Our Streamlined Process for Faster Goal Achievement

24/7 Access to Cutting-Edge Technology

Leverage advanced billing technology, coding tools, and robust infrastructure to streamline operations and customize billing and revenue cycle management for large practices. By outsourcing to TMS Tech Med Solutions , you gain access to these resources without the need for costly software or hardware investments

Continuous Auditing for Perfected Billing

Our routine internal audits uncover inaccuracies and highlight areas for improvement in billing processes. By correcting patterns and implementing strict quality controls, like double-checking claims and conducting detailed reviews, we minimize revenue gaps and billing errors.

Effortless Communication

Building strong, trust-based partnerships requires open communication between insurers, administrators, and billing teams. By fostering clarity and understanding, we minimize errors and ensure smooth, long-term collaboration.

Expertise That Reduces Denials

Our team of trained professionals excels in coding, billing, and claims submission, ensuring fewer denials and compliant billing practices for your large practice.

 

Streamlining Complex Coding Systems

We stay current with regulatory updates and coding guidelines, using expert coders skilled in ICD-10, CPT, and HCPCS to ensure accurate coding and faster reimbursements.