maximize profits - MDP Boston

Maximize Profits
In medical billing and healthcare change is constant

Change seems to be the only constant in healthcare today. The forms you were required to complete this month may be obsolete next month. CPT and ICD-9 codes are fluid. HMO's and PPO's may dramatically affect your practice's earning potential. Today there are also fundamental governmental changes on the horizon.

Does it seem the harder you work, the less you make? MDP can't change the sea of healthcare regulations, but we can help steer your practice so you receive every dollar to which you are entitled. Together, we can increase your revenue and maximize your profit. The following are some of the ways we can help:

• Analyze your fees. MDP conducts an annual fee survey of healthcare practitioners in the region. We can compare the charges, specialty by specialty, and provide you with a comparison of your rates to the prevailing market rates.

• Develop new fees for new procedures. Using Relative Value Studies, we can help physicians objectively create and adjust fee schedules for new procedures.

• Evaluate managed care and provider participation agreements. Because you may take a discount when you participate in these plans, MDP will evaluate the contract and advise you whether it is in your best interest. to participate. We can also represent your interest at the negotiating table with the numerous Managed Care organizations.

• Medical Coding Assistance: MDP has coding specialists who are accessible on an as-needed basis. We will teach you and your staff to code accurately. As part of our ongoing service, our consultants are available to answer difficult coding questions and advise on the correct codes for primary and secondary diagnoses. They will review charts and documentation to ensure accuracy and to determine that appropriate levels of care are reported. Possibly nothing done in your business is as important as coding accurately. Our goal is to help you bill the maximum-allowable amount under governmental and third party regulations. Your practice will be more efficient and therefore, you will increase your financial success.

• Credit and collection: We've developed and improved credit and collection systems for healthcare providers toincrease their collection ratio. We train our staff in appropriate credit and collection procedures and help them develop good relationships with insurance providers and benefit analysts. We work closely with you in determining if an account should be turned over to a collection agency.