Medical Billing Services
for Large Practices –
Cut Annual Payroll
Costs by 30-60%
SMBT and Large Practices Share Common Goals
Accelerated Cash Flow
Billing and Coding Precision
Enhanced Patient Experience
Complete Denial Management
Regulatory Compliance
Significant Cost Savings
A Strong Billing Infrastructure is Key to Our Medical Billing Services
Large practices encounter numerous challenges, from patient registration to claims submission and follow-up. A major struggle is managing multiple claims alongside other administrative tasks.
A strong billing infrastructure fosters transparency, affordability, and flexibility, addressing inefficiencies in the billing process. This is where SMBT steps in. Our billing services leverage efficient systems, up-to-date denial management tools, and a skilled team, offering solutions and 24/7 support to streamline your billing operations.
8 Key KPIs for Maximizing ROI
Track these essential metrics to optimize your billing process and accelerate revenue cycle efficiency for your large practice.
4 Key Metrics to Audit Billing and Boost ROI for Your Large Practice
These metrics account for 60% of your billing process’s efficiency, productivity, and financial performance, based on real-world data from our clients.
Days in Accounts Receivable 30-40
Accounts receivable tracks the average number of days it takes for your practice to collect payments. We maintain a lower accounts receivable days ratio, ensuring quicker reimbursements.
First Pass Rate - 97%
Also known as the first-pass clean claim rate, this metric measures the acceptance rate of claims on their first submission. Our quality revenue cycle management services help achieve a high first-pass clean claim rate.
Net Collection Rate - 98%
The net collection rate reflects the total collections from both patients and insurers. We ensure timely payments, maintaining a high net collection rate for your practice.
Claim Denial Rate - Just 1%
The denial rate shows how effectively your revenue cycle management is working. We actively follow up on denied claims, identify and correct errors, and maximize revenue generation.
Personalized Medical Billing Services to Enhance Your Billing, Coding and RCM
We recognize that one-size-fits-all solutions don’t work for large practices. That’s why we provide customized, transparent, and error-free services. We audit your billing process, identify and correct errors, and manage unpaid and aging claims effectively.
Your large practice faces numerous challenges, from patient registration to claims submission and denial management. We handle your non-clinical responsibilities, allowing you to focus on delivering exceptional patient care.
Our advanced billing, coding, and RCM systems are designed for large practices. With a clean claim submission rate of over 99%, timely claim processing, daily follow-ups on aging A/R, and strategies to maximize reimbursements, we optimize your revenue cycle for success.
Streamline Revenue Cycle Management for Large Practices
Simplify medical billing complexities and boost both financial and healthcare efficiency with our tailored billing flowchart for large practices.
Insurance Verification
Secure prior authorizations and confirm insurance eligibility for diagnoses, procedures, and treatments to streamline patient care and billing.
Patient Registration Services
Accurately collect, verify, and input patient data to ensure seamless and error-free billing documentation.
Claim Submission Services
We maintain a 99% clean claim rate, submitting accurate claims to achieve a high first-time approval rate and maximize collections.
Expert Coding Services
Our expert coders and billers ensure accuracy in diagnostic and procedural coding, minimizing errors and maximizing efficiency.
Denial Resolution
Identifying and addressing the root causes of denials ensures accuracy and successful claim resolution.
Payment Posting
Payments from insurers or patients are accurately recorded in the system, ensuring proper documentation and notifying patients of any co-payments due.
A/R Follow-Up Simplified
We proactively track pending payments and accounts receivables to secure reimbursements and recover outstanding collections efficiently.
Patient Billing Made Accurate
We ensure patients are billed precisely for the services they received, eliminating errors and ensuring transparency.
Education & Outreach
We engage with providers to clarify patient financial obligations, promoting understanding and ensuring timely payments.
Streamlined Workflow for Faster Goal Achievement
01
Round-the-Clock Access to Advanced Technology
Leverage advanced billing technology, coding tools, and robust infrastructure to streamline operations and customize billing and revenue cycle management for large practices. By outsourcing to SMBT, you gain access to these resources without the need for costly software or hardware investments
02
Consistent Auditing for Flawless Billing
Our routine internal audits uncover inaccuracies and highlight areas for improvement in billing processes. By correcting patterns and implementing strict quality controls, like double-checking claims and conducting detailed reviews, we minimize revenue gaps and billing errors.
03
Seamless Communication
Building strong, trust-based partnerships requires open communication between insurers, administrators, and billing teams. By fostering clarity and understanding, we minimize errors and ensure smooth, long-term collaboration.
04
Specialized Expertise for Fewer Denials
Our team of trained professionals excels in coding, billing, and claims submission, ensuring fewer denials and compliant billing practices for your large practice.
05
Simplifying Complex Coding Systems
We stay current with regulatory updates and coding guidelines, using expert coders skilled in ICD-10, CPT, and HCPCS to ensure accurate coding and faster reimbursements.
Comprehensive Add-On Services for Complete Billing & RCM Solutions
Maximize your revenue and optimize care with our customizable add-on services, available individually or as a complete package.
Streamlined Prior Authorization
Secure upfront approval from insurers for treatments to eliminate delays, save time, and reduce costs.
In-Depth Analysis & Reporting
Receive regular audits and detailed reports to track revenue cycle performance and make data-driven decisions.
Verify Insurance Coverage & Benefits
Ensure patient coverage and benefits are confirmed to enhance cash flow and minimize claim denials.
Hassle-Free
Credentialing
We simplify the credentialing process, ensuring your practice stays compliant with verified physician qualifications and licensing.