IN FOXIBE INNOVATION
ABOUT OUR MEDICAL BILLING SERVICES
We specialize in providing customer focused Healthcare Revenue Cycle Management
Services and Data Entry Services. Healthcare's current economic situation is such that
even established service providers are finding it difficult to maximize their potential and
make sustainable growth. Along with this, healthcare providers need to look for outside
solutions to issues like the rising cost of operations, lowered reimbursement rates,
shortage of skilled labor, high staff turnover, the expense of training, and increased
regulations
Medical Billing Service refers to the process by which a health insurance claim is prepared
and submitted to a third party payer for reimbursement. The health insurance claim is
generated in a prescribed format.
Functions of a billing company:
A medical billing center, or medical billing outsourcing agency, gathers patient
information and billing details from a physician and submits these details to insurance
carriers for payment. A billing center may also submit statements to patients for
payments of their portion.
Enrollment:
Takes care of enrolling new physician in a contract.
Coding Department: Here, charge sheets and super-bills are coded for Procedure Codes
(the treatment that took place) and Diagnosis Codes (the reason for the patient's visit to
the doctor).
Demographics Entry:
All-patient's personal information like his Name, DOB, address, phone #, guarantor name, employer details, and Insurance details will be registered.
Charge Entry:
Generating a claim for payment by billing procedure codes.
Transmission of Claims:
Transmission of claims to Insurance Companies.
Cash Posting:
Update payment records and zero out the balance.
Accounts Receivable:
Follow up on pending claims and generating ageing reports.
Medical Billing services @ Foxibe Innovations:
Foxibe Innovations specializes in providing customer focused Healthcare Revenue Cycle
Management Services. Healthcare's current economic situation is such that even
established service providers are finding it difficult to maximize their potential and to
make sustainable growth. Along with this, healthcare providers are looking for outside
solutions to issues such as the rising cost of surgeries, lowered reimbursement rates,
shortage of skilled labor, high staff turnover, the expense of training, and increased
regulations.
Associating with Foxibe Innovations for outsourced services will provide the opportunity to:
- Reduce payroll & operational costs.
- Boost revenues & maximize shareholder value.
- Improved patient and physician satisfaction.
- Reduce staffing issues and training time.
- Maximize efficiencies and economies of scale
- Improve workflows; centralize services & specialization of tasks.
As a single outlet for all primary healthcare business services - transcription, coding,
billing, AR follow up and Denial management - Foxibe Innovations offers reliable and
cost effective solutions to today's busy healthcare industry.
We are HIPAA compliant and have a large pool of highly trained and process oriented
personnel to ensure strong and timely deliverables.
We are dedicated to improving the way providers/practices operate on a daily basis. We
leverage leading internet technologies to provide more efficient, quality driven and cost
effective healthcare services.
We can help reduce existing payroll costs, boost provider’s revenue cycle, and assure
accuracy and compliance, enhancing both patient & physician satisfaction by:
The need for professional Medical Billing centers has emerged from
- The need for doctors to maintain fiscally healthy practices.
- Increased requirements by all insurance companies.
- Government regulations that require doctors to file Medicare claims for their patients.
- Detailed paper work that requires trained personnel, which are not typically included on a doctor’s staff.
- The necessities of electronic insurance claim filing by all health care providers.
Transition Methodology - The 4 phases of the transition process:
- Pre-Analysis (Plan)
- Analysis (Design)
- Transition Management (Implement)
- Ongoing Operations (Manage)
During the Pre-Analysis stage we perform analysis of the feasibility of outsourcing and
understanding your business needs.
The team from Foxibe will assess business needs, identify areas to improve, and prioritize
which areas to address first. The Analysis stage will also prepare a finer process
implementation plan.
In the next phase of Transition Management, we will adapt the process plan as indicated
by you and emulate its process. When you have reached the On-going operations phase,
you are fully integrated
Summary
Foxibe Innovations with its team of qualified and experienced personnel would provide
an ideal platform to the service provider, to partner for better reimbursement of the
service billed, with good Turnaround Time (TAT) and great quality of work.
Foxibe Innovations would like to tap into the highly potential market of global healthcare
industry. With raising healthcare costs, increased government regulations, human
resources – administrative and management challenges and ever-increasing denial of
claims from insurance companies, it is time for the service providers to outsource the
RCM services.
COVERED IN THESE AREAS
MEDICAL BILLING
About our Medical Billing Services:
Medical Billing Service refers to the process by which a health insurance claim is prepared and submitted to a third party payer for reimbursement.
Functions of a billing company
A medical billing center, or medical billing outsourcing agency, gathers patient information and billing details from a physician
Medical Billing services @ Foxibe Innovations
Foxibe Innovations specializes in providing customer focused Healthcare Revenue Cycle Management Services...