Outline

Medical Financial Management, Inc. (MFM) is a medical billing service established in 1969. We have 11 employees and our employee/client ratio is 1:2.5. Our computer system is a HIPPA compliant and we submit 75% of claims electronically to the insurance companies. Our system monitors billed amount vs. expected payment based on information provided.

We have 35 years experience in billing and collection process. We have extensive knowledge on bundling of codes, modifiers, place of services and global periods for the procedures and multiple surgical rules. Currently we serve following specialties: Anesthesiology, Plastic Surgery, Oral Surgery, Gastroenterology, Pain Management, and Podiatry.

We will provide self addressed prepaid envelopes to be returned by physician and accompanied with a copy of the patient's admission record. (Face Sheets)
Computer printed bills are mailed to the patients after payment is received from their primary and secondary insurance company. Payments are posted to the patient's account and deposited in the bank of the physician's choice. Bank Deposit receipts and weekly collections of payment journals are forwarded directly to the physician.

Bills are issued at periodic intervals to the patient if payment does not result in zero balance. We offer a payment book plan on delinquent accounts. We have insurance turnover time of four weeks. The Doctors accounts are audited every 45 days. Our collection rate is 90% of expected rate. Payments for HMO's and PPO's are monitored to assure that we are being reimbursed at our contracted rate. Any errors are followed-up by telephone calls and/or letters of appeal to the insurance carrier. Degree of effort to contact patient before turning over to a collection agency. (Over 150 days)

Every month a ledger is produced and forwarded to the physicians detailing any outstanding Account Receivable information. Most important of all, we provide an extensive library of reports: Financial Statement, Collection Report Analysis. HMO vs. PPO reports, Provider Summary Report, and Underpayment Report. We can provide any customs report that you would need to run an effective practice.