Central Billing Office — We're Equipping Private MSK Practices to Meet the Challenges of Today and Tomorrow — Making Superior Care Good for Business
MedVanta’s suite of solutions go beyond that of a traditional management services organization, and are designed by independent physicians, for independent physicians.
We’re innovating with an eye on the changes to come, ensuring your care sets the standard for the future amid ongoing disruption in healthcare.
We take care of the business operations, so you can focus solely on why you got into medicine – caring for patients.
The CBO provides the following services: —
Front-end edits and management of front-end denial issues: CBO edits all outgoing claims to ensure that all data elements are present and conform to standards. CBO utilize the systems’ claim scrubber for correcting coding.
Initial claim submission: Outgoing claims passing the front-end edit are submitted electronically or in hard-copy within a timely manner.
Receipts accounting from a single lockbox for the enterprise tax ID: Collections of submitted claims will be received into a bank lockbox and this will expedite the receipt and credit of any collections as well as minimize the risk of loss.
Posting payments to patient accounts: The CBO receives the daily deposit file from the bank from which all collections will be reconciled and posted to patient accounts.
Posting contractual allowances, denials, co-pay amount, etc.: Based on the EOBS, CBO posts all allowances/denials/co-pay requirements.
Secondary claim submission: If a secondary payer is specified, CBO processes a secondary claim submission (electronically or in hard-copy) in a timely manner.
Denial management/appeal submission: In the event of a denial, CBO research the denial and either appeal the claim or take the appropriate corrective action. CBO utilizes the denial management software (ARM) that includes, but is not limited to, fee schedule validation and variations.
Collection agency relationship management: A relationship with a collection agency should be established for unpaid claims that may require legal involvement. Those claims will be remitted to the agency electronically, as approved by the divisions on an account by account basis or by policy set by division and providers.
Patient Services: CBO maintains a call center so that patients will have direct access to patient services representative during normal business hours.
Reporting: A list of recommended and specimen of reports is provided for review. The CBO provides divisions with multiple levels of access to data. The Analytic – Business Intelligences solution provides detailed dashboards and key performance indicators for the division to measure ad monitor performance. Dashboard can be tailored to division and a multitude of standard and custom reports will also be available through the same platform on a monthly basis.
The Central Billing Office (CBO) provides medical billing and accounts receivable management services to CAO. —
Our CBO offers 50+ years of billing services with our experienced staff. We streamline receivables, collect more money, and identify problems faster. We leverage staffing expertise (payer experts) and filter, sort & prioritize A/R collections based on patients’ payor mix. We help you gain visibility into every outstanding claim for every patient you have.
The CBO provides the following services:
- Front-end edits and management of front-end denial issues
- Initial claim submission
- Receipts accounting from a single lockbox for the enterprise tax ID
- Posting payments to patient accounts
- Posting contractual allowances, denials, co-pay amount, etc.
- Secondary claim submission
- Denial management/appeal submission
- Collection agency relationship management
- Patient Services
- Provider credentialing
- Insurance contracting
- Practice management consulting
- Workflow analysis
- Audit preparation