Medical Billing Services for Radiology Practices

Our End-to-End Solutions Help Radiology Practices Minimize Billing-Related Risk and Improve Cash Flow

Radiology practices face the same challenges and risks as most other types of medical practices. These include challenges and risks related to medical billing. Billing errors and ineffective medical billing management can lead to unnecessary delays and denials—and they can expose radiology practices to recoupments and other consequences in the event of an audit or investigation.

At Fortis, we provide end-to-end solutions that help radiology practices minimize their billing-related risk. Our services also help improve our clients cash flow by reducing their percentage of denials and their average number of days to payment. By utilizing our medical billing platform and relying on our consultants centuries of combined expertise, radiology practices and other businesses have achieved an average of:

• 15 percent increase in net patient revenue
• 33 percent reduction in average number of accounts receivable (AR) days
• 85 percent of claim denials overturned
• 88 percent clean claims rate
• More than 98 percent of claims paid in 90 days or less

If your radiology practice could benefit from these types of improvements, we invite you to get in touch. We will schedule a time for you to speak with one of our expert consultants about the solutions we offer and the specific ways we can help you manage your practices medical billings more effectively. This initial consultation is complimentary, and we will help you make an informed decision about which services and solutions make good business sense for your practice.

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Our State-of-the-Art Medical Billing Platform

Our state-of-the-art medical billing platform is the heart of our end-to-end solution for radiology practices. This platform allows radiology practices to fully manage all aspects of their billings in a single application, with automation and artificial intelligence (A.I.) tools that eliminate the risk of many mistakes while streamlining billing management. We rely on this same platform when providing consultation and managed billing solutions to our radiology clients, and it has consistently proven to be an effective tool for maintaining billing compliance, addressing reimbursement delays and denials, reducing our clients days to payment, and improving our clients cash flow.

When you choose our medical billing platform for your radiology practice, you will benefit from:

• Billing Automation – Our medical billing platform automates many aspects of the billing process. This both increases efficiency and reduces the risk of financial loss due to human error. With billing automation, you can save time, reduce uncertainty, and increase your radiology practices rate of payment without the need for additional collection action.
• I. Assisted Coding – With A.I. assisted coding, you can choose the right billing codes faster and more easily. Our medical billing platform is programmed to help radiology practitioners select billing codes based on the pertinent billing rules as well as the most common codes used in radiology.
• Cloud Storage and Mobile Integration – Our medical billing platform is cloud-based, which means that you have access to your radiology practices billing data 24/7. Additionally, with full mobile integration, you and your team can access your practices billing data on all devices without the need to purchase new hardware.
• Full Customizability – With a variety of customization options, you can tailor our medical billing platforms functionality and interface to your personal preferences and your radiology practices specific needs. Our consultants can assist with setting up our platform in the way that makes the most sense for managing your practices billings on a day-to-day basis.
• Enhanced Data Security – With enhanced data security, you can feel confident that your radiology practices billing data are in good hands. Our medical billing platform meets or exceeds all relevant industry data security standards.

Our Medical Billing Services for Radiology Practices

In conjunction with our medical billing platform, we offer radiology practices a suite of services that further enhance their billing efficiency and reduce their billing-related costs. Our services for radiology practices include:

Pre-Bill Services

Effectively managing your practices billing program and mitigating your practices billing-related risks starts at the pre-bill stage. To help you bill correctly, streamline payment, and measure improvement, our expert consultants will assist with:

• Credentialing and contracting
• Eligibility verification
• Benchmarking
• Compliance program assessment and development

Billing and Coding

Billing and coding errors can lead to payment delays and denials. They can also lead to audits and investigations. As a result, billing and coding compliance are both extremely important, and radiology practice owners need to be confident that their billing teams are consistently billing for eligible services with the correct billing codes. Along with helping your billing team implement our medical billing platform (or managing the platform for you if you choose our managed billing solution), we will also assist with identifying the codes your practice can use and when you can use them.

Posting and AR Management

We can assist with managing your radiology practices daily deposits and reconciling your practices payments and claims. Through this process, we can also identify any accounts receivable that are past due, and we can address any reimbursement denials promptly. This type of proactive approach to AR management is essential for avoiding unnecessary billing-related losses and achieving the results listed above.

Reimbursement Tracking

By tracking your radiology practices reimbursements throughout their lifecycle, we can identify trends in delays and denials, and we can use this information to help your practice improve its clean claims rate. A variety of issues can cause payors to challenge their reimbursement liability, and understanding—and addressing—these issues is essential for ensuring that payors consistently pay your practices claims on time.

Collections

When payors refuse to pay despite liability, taking action to collect is the next step. But, determining the most effective means of collection requires industry knowledge and insights gained from decades of experience. At Fortis, we know why payors deny reimbursement, and we are able to use our medical billing platform to demonstrate our clients billing compliance. Whether we need to pursue an appeal or insurance recovery, we can use our experience and your practices data to collect as efficiently as possible.

Consulting

As a radiologist or radiology practice owner, you need to be informed about your practices billing efforts, and you need to be confident that these efforts are both effective and compliant. Our experts can provide you with the insights you need to manage your practice with confidence.

Billing and Coding Audits

Before entering the private sector, several of our consultants served as federal agents with the U.S. Department of Health and Human Services Office of Inspector General (DHHS OIG) and other agencies. In this capacity, our consultants oversaw thousands of federal audits and investigations focused on uncovering billing errors and other forms of healthcare fraud. As a result of this experience, our consultants are uniquely positioned to help radiology practices examine compliance and address any billing-related risks through comprehensive medical billing and coding audits.
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Our Full-Service Managed Billing Solution

Along with these services, we also offer a full-service managed billing solution for radiology practices. With this solution, we take your practices billing program off-site and manage it completely on your practices behalf. This is a cost-effective option for many radiology practices; and, if you are interested in having Fortis manage your radiology practices billing program for you, we can perform an assessment to determine if this option makes sense for you.

With our managed billing solution, we handle all aspects of your radiology practices billing and coding on an ongoing basis. This includes (but is not limited to):

• Setup and implementation of our medical billing platform for your practice
• Pre-bill credentialing, contracting, and verification
• Billing and coding compliance
• Posting, reimbursement tracking, AR management, and collections
• Benchmarking, reporting, and recommendations for further maximizing the profitability of your radiology practice

Why to Choose Fortis for Your Radiology Practices Medical Billing Needs

Lots of companies claim to offer medical billing services for radiology practices. So, why should you choose Fortis for your practices medical billing needs? Here are just some of the factors that set us apart from other companies:

• Our Consultants Centuries of Relevant Experience – Our consultants have centuries of experience in the medical billing and healthcare compliance fields. This includes experience as federal agents assigned to healthcare fraud audits and investigations.
• Our State-of-the-Art Medical Billing Platform – Our medical billing platform provides the functionality, customizability, integration, and security you need to manage your radiology practices billings all in one place.
• Our End-to-End Medical Billing Solutions – With our end-to-end solutions, you never have to wonder if your practice is doing enough to stay compliant and maximize its billing efficiency.
• Our Specialty-Specific Medical Billing Services – We tailor our medical billing services to each specialty, ensuring that our clients receive all of the services they need and none of the services they dont.
• The Results We Have Achieved for Our Clients – As discussed above, our results speak for themselves. When you choose Fortis, you can be confident that using our systems and following our processes will help reduce your radiology practices billing-related risk and improve its cash flow and profitability.

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Start a Conversation with a Senior Consultant at Fortis Medical Billing

If you would like to know more about our medical billing services for radiology practices, we invite you to get in touch. Call 866-808-4160 or contact us online to start a conversation with a senior consultant at Fortis today.