Precision Practice Management provides a full range of revenue cycle solutions, medical coding and charge coding, credentialing, and technical support to medical practices in major metropolitan areas in New York, including New York City and Buffalo. Precision can also support medical practices anywhere in the state of New York, including small towns.
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No matter where your medical practice is located, whether in a major metropolitan area like New York City or a smaller market like Buffalo, Precision Practice Management can provide the revenue cycle support you need.
The proportion of New York’s population 60 and older is growing more rapidly than other age groups. The U.S. Census Bureau estimates that nearly 25% of New York’s population will be 60 and older by the year 2030, an increase of 30% from 2012. As one of the most populous states in the Northeast, New York is home to many specialty medical practices. These practices are faced with the challenge of serving a growing, aging population with diverse medical needs.
Medical practices in New York may face billing and revenue cycle management challenges that impact day-to-day operations in a variety of ways. Due to the constantly changing medical billing landscape, it can be difficult for practices to keep up while also supporting patients' needs. Some benefits of outsourcing your medical billing to Precision include high level clinical consulting, patient balance processing, and custom financial reports, among other areas that can help optimize revenue cycle processes and workflow.
Optimizing revenue cycle management is always a matter of managing many items that collectively produce a measurable improvement in profitability. These may include educating providers on coding changes, recommending changes to EHR software templates, developing software system interfaces that eliminate redundant data entry, enhancing patient statement and delinquency letter protocols, establishing collection agency and patient refund protocols, monitoring and updating fee schedules, and providing more effective and timely reporting. All of this facilitates better financial and clinical management decisions and contributes to profitability.
Precision’s revenue cycle services are comprehensive in nature, and our work often starts with supporting our client’s clinical objectives. Precision has implemented electronic health record systems for clients for many years and has the full clinical and technical expertise and capability to do so efficiently and effectively. We provide technical assessments, system customization, ongoing technical support, and training services for a range of electronic health record systems.
Precision offers a variety of coding and auditing services to assist New York medical providers with documentation of professional services. PPM coding services are provided by expert staff who carefully review documentation to ensure that accurate codes are billed.
Precision has a dedicated credentialing department, with significant experience in credentialing, focused on making sure that this all-important but often overlooked requirement is properly and timely managed. Our medical practice credentialing services for New York providers cover hospitals, group practices, and individual providers.
The Quality Payment Program consists of two tracks: Advanced Alternative Payment Models (APMs) and the Merit-based Incentive Payment System (MIPS). Most medical practitioners will be subject to MIPS, though not hospitals or facilities. MIPS has four major provisions: Eligibility, Performance Categories and Scoring, Data Submission, and Performance Period and Payment Adjustments. Precision Practice Management can help ensure that your practice is in full compliance. Read more about MIPS here.
We understand how important it is to have timely support and top-notch expertise available when and where you need it. Whether you are located in New York City, Bufalo, Brookhaven or even a small town, our technical support team is here for your medical practice 24 hours a day, 7 days a week.
"My pediatric practice, Children's Clinic, has worked closely with Precision for many years in an effective partnership that has contributed greatly to the management of our practice. In order to best serve patients, the "business side" of things must run extremely well. Precision appeals insurance low pays on drugs and provider services, communicates coding updates and specialty-related and billing changes, tracks office collection of copays and patient balances, compares our coding levels to national distributions and identifies our denial and rejection issues, to name just a few. Monthly meetings with Precision allow us to review month end reports, identify opportunities for improvement and constantly "raise the bar" on our performance as a practice. In today's difficult economic environment, Precision is a business partner we can count on."
