LEARN HOW FAST TRACK CAN HELP
LEARN HOW FAST TRACK CAN HELP
Focus on Practicing Medicine…Not Processing Claims
Fast Track understands that physicians require two things: to save time and money and to partner with medical billing professionals who provide a quick return for the investment. Fast Track Medical Billing addresses all facets of the medical billing process and offers tailored solutions that best meet the practice’s requirements.
With ever-changing insurance rules and HIPAA regulations, handling healthcare reimbursement and processing medical claims in-house is too complex to maintain. Outsourcing the medical billing function to Fast Track enables physicians to focus on the critical care of their patients instead of administrative tasks.
When medical billing falls behind, payment is held-up. Fast Track is here to ensure this does not happen to your practice.
Full Revenue Cycle Management
Fast Track Medical Billing’s services encompass the entire reimbursement cycle – from claim submission to collection. Only pay for what Fast Track collects. This stake in your cash flow paired with an aggressive follow-up, ensures that claims are submitted and paid in a timely manner.
Charge Capture
Review and enter charges on a daily basis.
Charge Posting
Post charges automatically or manually (depending on EHR).
Claims Submission
FTMB scrubs and submits claims electronically to all accepting insurance companies. Submitting claims with fewer mistakes in an approved HIPAA format results in a faster return on profit to the practice.
Payment Processing
FTMB posts all insurance carrier and patient payments and notifies the patient of any required deductible and/or co-pay.
A/R & Denial Management
Fast Track conducts all of the necessary follow-ups for claims – researching and reviewing unpaid and denied claims in order to ensure maximum insurance reimbursement.
Patient Statements & Inquiries
Fast Track invoices patients after insurance payment and respond to patient questions.
Strategic Billing Services
Fast Track has a vested interest in their client’s efforts to build a successful practice and assists in all aspects of practice management in order to streamline systems and maximize reimbursements.
Practice Management Consulting
FTMB provides claims management advice, and problem solving strategies for the practice, as well as staff training.
Customized Reporting
In addition to standard monthly financial management reports, receive customized reports which are a valuable tool to analyze the practice’s financial health.
On-going Analysis
Fast Track speaks-up if we spot an opportunity to improve front-office operations and reduce the amount of denied or underpaid claims.
Frequently Asked Questions
Fast Track’s fees for medical billing services are based on a percentage of the gross amount collected for medical services. Fees are dependent upon the practice’s volume of claims and any additional services that are contracted. Fast Track’s success is dependent upon the success of its clients so FTMB strives to leave no claim unpaid, thus ensuring a flourishing cash flow for all involved.
Fast Track’s phone number is included on all patient statements. You may refer your clients directly to FTMB for patient billing inquiries and requests.
Within 24 hours of receipt.
Payment will be received, on average, within 7-21 days.
Normally, patient billing is triggered automatically when the payment is posted by the insurance company, assuming there is a balance due. If the claim is subject to contractual limits, FTMB will credit the patient’s account accordingly and bill for the balance. If a co-payment is made at the time of service, Fast Track will need to be notified in order to credit the account properly. Fast Track then follows up on outstanding patient accounts at 30, 60, and 90 days in accordance with standard practice.
Normally the provider receives payment directly from the insurance companies. In most cases, payments are posted through electronic remittance advice. In some cases, paper EOBs are required and in order to apply proper credit and adjustments, FTMB requires a copy of the EOB. When private payments and co-pays are made to the physician, FTMB requires a copy of the receipt and/or checks in order to credit the patient’s account.
The choice is up to the physician and dependent upon the volume of claims that the office generates. FTMB can establish a pick-up schedule, or the information can either be scanned or sent by U.S. Postal Service to FTMB’s office. All claims are processed within one business day of receipt. If the need should arise for additional information for a claim to be processed, FTMB will contact your staff.
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