Practice Management, Inc.
Practice Management, Inc. Practice Management, Inc.(PMI) is dedicated to the successful business management and revenue cycle success of our clients. We can provide multi-specialty coding, billing, advanced denial management, practice management support, compliance support, sophisticated data analytics, and provider enrollment. Our customer service team is experienced in representing your practice in the most positive way to your patients.
We focus on the big picture for your practice; predictable and appropriate cash flow. Accurate claims submission, prompt patient statements and reasonable payment plans, electronic processes, customized programming, coding expertise, in depth payor knowledge, the highest accuracy benchmarks, and sophisticated denial management processes are all designed to manage your accounts receivable effectively and efficiently. With the anticipated changes in physician payment methodologies, we are proactively preparing to ensure your continued success.
Although industry statistics vary, 10%-30% of claims may deny for a wide variety of reasons, some legitimate and many not for valid reasons.
PMI places a high priority on analyzing denials and taking necessary actions to receive your payments. We aggressively pursue improper denials on your behalf. Our data analytics provide the necessary details by insurance plan, CPT, diagnosis, and reason for denial to allow you to make informed decision about participation and contracts.
PMI has a staff of certified professional coders with expertise in multiple specialties. Their accuracy and productivity is enhanced through software edits and coding assist tools. Because coding is a high risk area for any practice, PMI invests in ongoing coding education and specialty specific training. We maintain an extensive library of coding resources. Coders are routinely audited and must meet accuracy benchmarks at all times.
PMI is dedicated to compliance. Our compliance officer was involved in the drafting of the OIG Guidance for Third Party Medical Billing Companies. Unlike compliance in 1998, compliance today is driven by an ethical culture and informed and engaged employees. Our entire team is knowledgeable and diligent in assisting our clients in their compliance efforts.
PMI provides consulting and educational services to our clients, as well as nationally, on topics such as coding and billing compliance, regulatory compliance and other relevant issues to physicians and their revenue cycle companies. This allows PMI to provide a level of expert services over and above many revenue cycle companies that will benefit your practice.
PMI provides a variety of accounting support services, such as payroll, contract analysis, accounts payable and accounts receivable management. Our President is a CPA, with extensive knowledge and experience in this area that will benefit your practice.
PMI assists our clients in the required payor enrollment processes, from new providers through the CMS required revalidation process. Our expertise will enable you to streamline this process and verify claims will be processed and paid correctly.