What is medical billing “reporting”?
Through financial reports such as profit and loss statements and accounts receivable aging summaries, Millenium assists healthcare practices in assessing their financial performance. These reports help identify revenue trends, strengths, and areas that may need improvement. Additionally, Millenium's reporting capabilities extend to claims analysis, allowing practices to closely track claim submissions, their status (e.g., paid, denied, pending), and reasons for denials. By analyzing this data, practices can identify billing errors, patterns of denials, and opportunities for optimizing claims submission for faster reimbursement.
Millenium also supports healthcare practices in monitoring provider and payer performance. They help practices evaluate the productivity of individual providers and assess the performance of insurance payers based on claim acceptance rates and reimbursement timelines. Moreover, Millenium's reporting services play a crucial role in ensuring compliance with healthcare regulations like HIPAA, helping practices identify and address potential compliance issues. Overall, Millenium's reporting services are a cornerstone in empowering healthcare providers to make informed decisions, streamline operations, and maintain financial stability in an ever-evolving healthcare landscape.
Benefits of Hiring Millenium For medical billing reporting
Who Millenium helps with medical billing reporting
Our comprehensive reporting services extend to various other specialties, such as dermatologists, who rely on us for reduced administrative load and consistent revenue collection. Ambulatory services and urgent care clinics also appreciate our support, which streamlines financial operations and minimizes errors in billing processes. Millenium's commitment to understanding the unique needs of each specialty empowers healthcare providers to deliver superior patient care while maintaining financial stability. We offer tailored billing solutions to optimize revenue collection for an array of healthcare specialties, from acupuncture and pediatrics to gastroenterology and beyond.
- Ambulatory Services
- Cosmetic Surgery
- Dental Sleep
- Dentistry (Frenectomies)
- Family Practitioners
- Fertility Specialists
- General Surgery
- Hormone Replacement
- Mental Health
- Occupational Therapy
- Orthotics & Prosthetics
- Pain Management
- Physical Therapy
- Physician Practices
- Speech Therapy
- Urgent Care
Why choose Millenium for medical billing reporting?
Entrust your reporting needs to Millenium, and focus on what truly matters: delivering exceptional patient care.
Frequently Asked Questions
Why outsource your billing to a Medical Billing Company?
Medical Billing regulations tend to be complex and are ever changing. MMB stays up to date on the latest rules and requirements in order to maintain maximum reimbursement. Outsourcing your medical billing provides you more time to concentrate on your patients and practice.
Is there a contract?
There is no time binding contract you are free to cancel at any time.
How is the information transferred from your practice to MMB?
MMB utilizes any method convenient for your practice. For example: mail or courier service, fax, email or web based programs
When is billing submitted?
Billing is submitted within 24 hours.
Is there an initial set up cost?
No, there is no initial set up fee required.
What is the turnaround time on claims?
Turnaround time can be as quick as two weeks for electronic claims.
What is the cost for our services?
MMB charges a percentage based on what is collected each month. An invoice is sent to the client at the end of every month. Our fees are competitively priced and vary based on the size of your practice, and the scope of services provided.
Can MMB facilitate out of state contracts?
Yes, we absolutely can & we do! Our clients are located through out the Unites States.
Can MMB furnish references?
Yes, we absolutely can upon request.