Revenue Cycle Powered by mds:practice, mds:chart & mds:patient
You code your visits and we take care of the rest by using our advanced technology, process and knowledgeable team
Specialized Billing & Collections Staff
Billing Rule Engine
Denials and Claim Rejections
Insurance and Patient Payment Posting
Software Services Included
Designated Account Manager
MD Synergy continuously measures, audits, analyzes and improves all key areas that impact your clinic's financial performance.
Q. How frequently do you submit claims?
A.We scrub and submit claims within 1 to 2 business days of receiving the charge information from physicians.
Q. How frequently do you re-submit file rejections?
A. In order to get your practice reimbursed as quickly as possible, we clear all rejected claims within 24 hours.
Q. How often do you mail patient statements?
A. Patient statements are sent within 2 business days.
Q. What are your clients’ average AR days (Days Accounts Receivable Outstanding)?
A. The best managed practices in the country have an average AR days between 35-40 days. The national average AR days, however, is nearly 50 days. We believe there is substantial room for financial process improvement in the vast majority of medical practices.
Q. What are your clients’ average percentage of receivables over 120 days?
A. The MGMA cites that receivables over 120 days are only 20% collectible and should not exceed 10% of the total. We strive to meet or exceed that benchmark with every client.
Q. Do you compare my negotiated fee schedule against the actual insurance reimbursement?
A. We provide and utilize MD Synergy's Practice Management software. We actively compare every reimbursement against the negotiated fee schedule and re-submit any claim paid below that fee schedule.
Q. Can you suggest process improvements in my practice to enable higher and more timely reimbursement? What are some examples of improvements you have suggested to other clients?
A. We conduct a detailed Personal Practice Analysis with every client. We review that analysis with the Practice Manager and Physician and detail actionable suggestions for improvement. One common, but crucial improvement in practices we have worked with is ensuring that the insurance and prior authorization data being entered is as accurate and complete as possible.