Accounts Receivable Management

With growing payment ambiguity, co-pays, co-insurance and other factors that drive up costs in healthcare delivery, the management of the accounts receivable process is crucial. With industry averages of 30% in denial rates and estimates of 15% in lost revenues annually for many practices, we know most management processes currently in place are inadequate. According to most industry publications, the majority of medical providers collect only a portion of their charges within 60 to 70 days from the date of service. Not surprisingly, a number of physicians have turned to Dominion Medical Management to maximize their collections while eliminating the financial and human resource headaches.

Client-Specific Guidelines

Dominion Medical works with new Clients to develop a highly-detailed Billing Rules & Coding Guidelines document which covers site and payor specific coding and billing guidelines as well as the group’s practices. Clients don’t have to guess at what our goals are because they help set them.

99%  Charge Resolution

Our proprietary PRISM billing software makes short work of this complex process and allows Dominion Medical to excel in revenue recovery since less than 1% of rejected claims go unresolved, while other solutions struggle with denied claims as high as 10% of the total.

Payor Response Tracking

Lack of payor response automatically creates a follow-up activity in the system.  Re-submittals are minimized by the effective use of insurance claim status inquiries. The system generates customized follow-up letters automatically. Clinical denials are routed to the coding staff for adjudication; financial denials are routed to the insurance follow-up department for further processing.

Payment Variance Tracking

Payments are tracked at the CPT level in our proprietary contractual reimbursement tracking module. Dominion Medical responds directly when variances are noticed. In addition, we have a separate module to track Client fee for service accounts, allowing for easy auditing, invoicing and payment reconciliation.