Frequently Asked QuestionsWhy choose Financial Medical Partnership?
Why choose Financial Medical Partnership? We provide a cost effective solution for your medical billing requirements. We provide a flexible service, tailored to your requirements. The staff at Financial Medical Partnership are experienced and specialised in medical billing, accounting and bookkeeping. Financial Medical Partnership can save your practice time and money on its medical billing requirements. We offer a complete patient billing solution. We can improve the efficiency, productivity and patient relations of your private practice, leading to increased profitability. How are you able to provide medical billing services at such competitive rates? We are able to reduce costs and maximise our efficiency by using Healthcode, the state of the art electronic patient billing system owned by the major UK Healthcare insurers. We receive billing information via scanner, e-mail, fax and post from our clients without having any of the billing documentation leave their offices. Accurate electronic patient billing and tracking with billing frequency as often as required. Which medical specialties do you bill for? We can bill for any medical specialty, from individual practitioners to large group practices. How do I send my billing information to Financial Medical Partnership? Billing information can be sent by e-mail, fax and post. How may insurers does Financial Medical Partnership deal with electronically? We can produce electronic invoices for BUPA, AXA PPP, Norwich Union, Standard Life, First Direct, BUPA International, First Assist, BCWA, Exeter, Friendly, HSA and CIGNA. What are the benefits of electronic patient billing? Traditional paper invoice submissions take 3 to 6 weeks to process and be paid. Standard electronic claims filing allows payment from insurance companies within 5-10 working days. This drastic reduction in time is due to the many added features available on Healthcode. Where will the insurance companies send the payments? All cheques and payment information will be sent directly to you as normal. We can arrange for a copy of this information to be sent to Financial Medical Partnership for those clients wanting the invoice and reconciliation service. How do I reduce the problem of non-payment amongst my self-pay patients? The best way to eradicate this problem is to insist on patient pre-payment before consultation or treatment take place. The majority of patients are happy with this arrangement and it is standard practice in private hospitals. Financial Medical Partnership offer this service and allow patients to pay by a variety of methods including credit card, debit card, cheque, cash, BACS and bankers draft. How long is the set up process? We can start the set up process immediately upon signing the contract. What if there is any information missing from the billing information sent to Financial Medical Partnership? Invoices are generated but stored as draft invoices until the relevant information can be added. The invoice is then electronically submitted. How can you reconcile the invoices? If choosing the invoice and reconciliation service, we can arrange for duplicate payment advice notice to be sent to Financial Medical Partnership, which is reconciled with Healthcode, indicating that an invoice has been paid and allowing payment tracking.
How can fixed price invoicing from Financial Medical Partnership save me money versus paying a percentage of invoices? Examples of differences in charges for medical billing for a variety of different procedures. For illustration, BUPA codes and fees are used.
These savings on individual consultations and procedures can quickly multiply into substantial monthly and annual savings. Examples of differences in charges for medical billing for a variety of different procedure types.
20 Mar 2008 - CIGNA joins Healthcode electronic patient billing |
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Financial Medical Partnership Limited, 29 Harley Street, London, W1G 9QR
Tel 0845 846 0036 Fax 020 7182 7018 |