Even well-run organizations need occasional help evolving and fine-tuning their operations. Coding, billing and collections are familiar targets for improvement. But there are other areas of practice management in which Brault can readily assist you, places where even small strategic or operational refinements can produce positive results. Examples include:
Hospital Contract Management
Like any business, your practice is challenged by competition which means hospital contract management should be core to your business strategy. Drawing on decades of firsthand experience, Brault can help you develop strategies that result in more equitable contract and payment terms, reduce your group’s reliance on subsidies, and improve your long-term contract retention strategy – all without compromising your existing hospital relationship or patient satisfaction.
Fee Schedule Management
Once you partner with us, Brault will provide a revised fee schedule for your review, and annually thereafter. For each CPT code, we will identify the practice’s current fee, if one exists, compare fees charged by other physicians in your area, and check other relevant industry reference points. We will review the schedule with you and incorporate any changes requested, prior to your approval. We will also suggest periodic revisions, including annually, when the AMA revises and issues its new CPT manual. We will delete outdated codes and add new ones, and suggest fees that are appropriate for your market area.
Brault’s extensive claims-review process was developed specifically to account for each payer’s rules toward denying and under-paying claims. Our detailed reports allow for plan-specific interventions, gathering all data necessary to achieve a full settlement.
This ability to identify patterns in denials and down coding, allows us to take a more aggressive approach to delinquent claim management, aggregate claims processing, and complaint filing with the various state regulatory agencies that oversee unfair payment patterns. And, over the past several years, we have successfully secured millions of dollars’ worth of payer settlements for our Clients.
To provide a clear picture of where you are financially, Brault can produce a monthly financial-statements package that includes a P&L statement, a balance sheet, and cash flow reporting. We can also prepare a monthly variance and trend analysis, an amortization and pre-payment schedule, and related journal. Other available support includes preparing and posting payroll journal entries, reconciling your payroll bank account and all balance sheet accounts.
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