Accounting: Medical Billing and Coding, Collections, and More
These accounting services maximize cash flow, not just maintaining a practice at its current level, but growing it—and its revenue—with scaled efficiency via sophisticated accounting and financial systems, ongoing training for the most up-to-date coding compliance, and a consistent focus on name and reputation. Each patient's visit is optimized for the best results possible in coding, collections, and more to ensure a healthy bottom line as physicians continue their high standards of care.
Partner with PhyNet Dermatology for medical billing and coding, collections, and other services. Find out more about accounting services for our affiliates. Call (615) 224-7755 or send a message online.
The Value of PhyNet's Medical Billing and Coding and Collections Services
Dermatology is first and foremost about helping patients, but money obviously does have to play a role in a practice's day-to-day operations. PhyNet affiliates are relieved of the direct push for a consistent and predictable cash flow to cover staff salaries, benefits, facilities, and other necessities, as well as for their own income.
Reliable medical billing and coding is crucial for a practice to survive and, ultimately, grow. Designed with security and stability in mind, PhyNet's services can increase reimbursements and revenue simply because we have experience in accounting best practices, as well as a commitment to fast, accurate medical billing and coding. Our large network allows for the regular and timely submission of claims, as well as follow ups to insurance companies for cases that are covered. Experienced professionals also work directly with patients paying out of pocket.
Not only does efficient medical billing and coding encourage prompt payments, but it minimizes the chance of larger accounting-related problems developing. Beyond the benefits to a practice's bottom line, focused financial management and oversight reduces the risks that arise in money-related practice administration because mistakes in medical billing can result in regulatory compliance headaches that range from audits to fines and other penalties.
No matter how careful and thorough a team is, there are times when even accurate medical billing and coding does not yield prompt payments. Outstanding bills represent a twofold drain on a busy practice, given that they keep expected revenue from coming in and can eat up staff members' time and energy. The collections process can also be unpleasant on anyone tasked with tracking down the parties behind delinquent accounts.
PhyNet approaches these problems with a twofold solution: Our network keeps the stress of collections away from the physicians and successfully resolves issues to increase revenue beyond numbers typically reached by an unaffiliated practice. PhyNet also handles claims appeals and communications related to statements and other financial-related paperwork.
Accounting Services Beyond Medical Billing and Coding
In addition to collections and medical billing and coding, PhyNet handles the countless tiny and complex details required by any accounting department at a dermatology practice, from month-to-month bookkeeping to managing files for annual taxes. PhyNet affiliates benefit from professionals whose focus is tracking money and maximizing revenue—not fitting in account oversight where possible in the middle of a busy day at the practice.