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Many physicians and managers have concerns as to whether or not they are doing a good job of maximizing their reimbursement while controlling their operating expenses. Practice Management Services, Inc. utilizes several, sophisticated, analysis systems which incorporate actual charges and reimbursements on an insurance company level basis, to report and evaluate this. Data may be analyzed for the frequency and level of a charge for various office and hospital patient encounters. After which, discussion with the client often reveals that a much higher level of service was provided to the patient then was ever billed to the insurance carrier. Instruction to the physician and office staff is then provided to ensure that the level of care is being accurately documented and that the practice is billing for the degree of care they are actually supplying.

A comparison of the payment structure of the client's major insurance companies is also provided as part of the practice analysis. Many times, physicians are asked to sign a contract with a new insurance carrier or to renew an existing one, provided only with a list of certain procedures and the amount that the insurance company proposes to pay. When this occurs, the physician has no idea how these proposed payments compare with that of other insurance payers. Practice Management Services, Inc. provides a comparative analysis of the practice's historical reimbursement for each procedure billed to major insurance companies. This data then provides the physician or manager with a strong bargaining position based on actual reimbursement rates from other local carriers when negotiating compensation, prior to signing a new contract or renewing an existing one.

Analyzing operational standards is sometimes difficult for a physician, who is primarily concerned with patient care. Issues can range from managing the flow of patients through the office and policies to collecting their co-payments and deductibles, to the process of pre-authorizing surgical and diagnostic procedures. Practice Management Services, Inc. can assist our physicians and office managers in determining whether their patients are being seen in the most efficient manner, while making sure that the front desk and billing department are screening the patient's insurance coverage and associated paperwork. By assisting to build this bridge, PMSi aides in maximizing the probability of securing payment from the insurance company or other third-party payor.