PractiSource’s services simply allow you to focus on what you do best, and we take care of the entire revenue cycle management aspect of the business.
Outsourcing certain business functions to experts allows you to concentrate on your core area of expertise – providing medical care.
By concentrating on core competencies, businesses including medical practices and laboratories can achieve greater efficiency and greater profitability.
PractiSource’s services simply allow you to focus on what you do best, and we take care of the entire revenue cycle management aspect of the business. This leads to refined workflow, less stress, and proper payments.
Leonardo Da Vinci stated
“Simplicity is the ultimate sophistication”.
At PractiSource, we couldn’t agree more.
Access to Greater Resources
Billing, system, and human resources are expensive and often difficult to maintain. Quite simply, most medical organizations’ billing personnel do not have the experience, time, or resources to get the job done properly in-house.
When outsourcing to a reputable billing service and revenue cycle management company, you have more aggregate resources at your disposal. Since billing and reimbursement related systems and services is all we do, we are focused on getting claims paid on your behalf without all the distractions associated with in-house billing.
Insurance payers have tremendous resources aimed at not paying you. Shouldn’t you be well-equipped also? With PractiSource, you have tremendous resources at your disposal
Outsourcing to a reputable billing service often results in tangible results in terms of reimbursement. The folks here at PractiSource have a solid track record of maximizing revenue for our clients, and chances are we can do the same for you. It starts with proper, clean billing to insurance payers and patients resulting reduced denial rates. Aggressive insurance follow-up and appeals keeps sights set on limiting unadjudicated and misadjudicated claims, increasing payment and helping to prevent dollars from falling through the cracks. We’ll keep you informed and let you know how you are doing with Key Performance Indicators (KPI ‘s), advanced reporting and claim tracking capabilities
Mitigate Staffing Concerns
Hiring, managing and successfully maintaining billing staff for your practice is difficult. And be honest, are those staff truly experts, and what happens if they leave? Where does that leave you?
PractiSource helps eliminate these questions and uncertainties. Not only is it one less headache, but it is also ensures that you have experts handling your finances
Ease of Implementation
Regardless of whether you are a large practice or laboratory switching to an outsourced model, switching billing companies, or starting a new laboratory or practice, implementing a comprehensive solution with PractiSource is probably a lot easier than you may have imagined.
We take care of all the red tape, setup and training – so you can continue to serve your patients without skipping a beat. It is a customer service-oriented approach designed to take your practice to the next level, without placing an additional burden on you or your staff.
You probably know the costs associated with in-house billing and practice management systems. These include software expenditures combined with service fees, training, support fees and maintenance. And don’t forget the upgrades, too (or the cost of not upgrading which can be even more expensive). Now throw in other expenses like servers and networks and it all adds up to a substantial, and often uncomfortable amount.
PractiSource often almost completely eliminates these costs, while at the same time providing you with advanced financial management software systems. All of our solutions are web-native, all you need is PC’s and internet access. No servers to buy. For that matter, there are no software, support or upgrades to purchase either. We not only eliminates all of the hassles regarding billing , but can also takes care of your system concerns as well.
PractiSource provides solutions in a manner which is exceptionally cost effective. Many expenses normally associated with the billing cycle (such as staff, systems, hardware, maintenance, postage, EDI , paper, etc.) are all covered by our service plan. And since this amount is generally calculated on payments received by your office, it is extremely easy to budget. The costs are also in direct proportion to your actual income. If you make less, you pay less. Make more, pay more. That simply doesn’t happen with in-house billing where you are responsible for all of the costs, upfront and regardless of Income.
Pay us only once we get you paid. How many other things work that way? Not many. (You were only at home two weeks this month but because you were on vacation, why not just pay half the mortgage?)
Our structure allows you to combine integrated cost centers into one easily budgeted amount. We may not be the cheapest company, however, if your true goal is to increase actual net income, we might just prove to be your best business ally.
PractiSource is a solution that grows with your practice without the need for additional investment in staff, overhead, equipment or software.
Opening up a new location? Just put in a few PC’s with internet access and you are ready to go. No additional billing staff to hire, no software to buy, no additional space to build out. We take care of it all!
Some time ago the conventional thinking was that by outsourcing, a physician, lab or practice administrator would suffer a loss of control over the practice. After all, once the charge data was sent to the billing service, there was no efficient way to track data in a comprehensive way. Limited and often meaningless printed reports were about all you could expect.
How times have changed. Up to the minute financial, patient and system data is available 24/7/365 and provides you with detailed insight into your practice’s health. Additionally, there are checks and balances in place which ensure both internal and external fiscal compliance. With PractiSource, you don’t only maintain control over your practice – you increase it.
How much is your time worth?
Does managing your office billing staff take time from your patient care? If not, are they being managed properly in a way that ensures maximum revenues?
Our services not only make good business sense, but they also provide you with peace of mind and a substantial reduction in the day to day aggravations relating to systems, billing, insurance, managing or employee-related concems and obligations.
Partnering with PractiSource can increase financial performance, increase practice stability, and eliminate the associated headaches. We’ve got your back.
Contact us today for a free analysis and see if PractiSource is right for you.