Medical Billing Gold Standard Services
Together with our partners Cascade Solutions we are able to assist our clients interested in converting to a connected health solution and in enhancing the financial performance of their practice with a Gold Standard for Billing. In essence, Gold Standard means collecting 98% of allowable in less than 35 days, and with accounts receivable over 120 days below 5% of monthly collected revenue average.
To achieve Gold Standard every step in the revenue cycle must be administered with excellence. By its very nature, it requires teamwork between the front office, clinical and billing staff so demographic data accuracy and correct coding make it possible to achieve 90% first pass payment. We are not purists regarding first pass payment and essentially our measure is 90% + claims will be paid by the primary payer within 30 days.
We know if a practice can achieve this standard, the doctor will be paid for the full amount they have contracted, the average days in AR will be less than 35 days, and their cash flow steady and reliable.
Our account managers will be held accountable by the practice and our joint management for Gold Standard performance for each of our assigned customers, regular communications will ensure customer satisfaction.
