Frequently Asked Questions (FAQs)
Helping health care organizations streamline their complex revenue cycle processes.
Commonly Asked Medical Billing Questions
At PhyTech Solutions we have found medical and lab billing can be a complex and confusing process, with many common questions that patients and providers often have. This FAQ section aims to address some of the most frequently asked questions in the medical and lab billing industry, providing clear and concise answers to help you better understand your billing and insurance coverage.
PTI’s differentiator lies in our commitment to quality over cost. We prioritize accuracy, compliance, and reliability to ensure you receive the best possible results. The concept of the “Iron Triangle” in project management represents the interplay of three key factors: quality, speed, and price. Maintaining high quality often requires an investment of time and resources, potentially affecting the speed of project completion. Conversely, striving for a faster turnaround may impact quality and cost, as shortcuts could compromise the end result. PTI’s efficiency allows us to maximize our client’s A/R through proper follow-up and claim denial management.
Balancing these elements effectively is essential in meeting project goals while satisfying stakeholders’ expectations.
Because PhyTech has clients, coast to coast / tip to tail, we maintain a national database on most insurance companies’ historical payment patterns. We use these payment patterns to customize our Accounts Receivable follow-up queues so that each open claim is worked within a strict timeframe. At a minimum, all open accounts are worked (not just touched) at 20 days after claim submission, however the bulk of our accounts are statused and worked within the 20 day threshold.
PTI’s laboratory billing solutions are designed for accuracy and optimization. We navigate the complexities of laboratory billing, helping you secure maximum reimbursement. We accomplish this by focusing on medical necessity, setting proper client expectations and “squeezing the turnip dry” with our exhaustive revenue cycle process.
Absolutely. PTI tailors technology integration solutions to meet your unique requirements, ensuring seamless operation. We have worked with most of the country’s leading EMRs and LIMS systems to maximize their offerings.
We have a dedicated compliance team that stays up-to-date with regulatory changes. Our services are designed to keep you in compliance at all times. PTI employs the use of Artificial Intelligence search engines to scour payor websites in search of material changes and updates which are quickly communicated to our clients. This removes the guesswork out of the revenue cycle process.
PTI’s reconciliation services ensure that your financial transactions are error-free, which is crucial for accurate accounting and financial health. PTI reconciles the daily production of our clients to compare our charges against this work. This ensures that no claim is missed. PTI also works with our clients to ensure that payor/patient deposits are reconciled against our payment posting process.
Yes, our experts can not only provide you with data but also interpret it, helping you make informed decisions for your practice or laboratory.
PTI was intentionally designed to be scalable and can be customized for practices and laboratories of all sizes. We have clients ranging from solo practitioners to health systems to large, independent laboratories and medical groups.
Contact us through our website or give us a call. We’ll schedule a consultation to assess your needs and provide a tailored solution. Our typical client installation ranges between 30-45 days, however we understand that many clients need to move faster. PTI is designed with speed and quality first, so we are able to move mountains, if necessary.
Our client-centric approach ensures that your specific needs and goals are at the forefront of our services, leading to a more personalized and effective partnership.
Leveraging our years of experience, we understand, and stress the importance of, communication. Based on this experience in knowing what works and what doesn’t, PTI has a dedicated Client Services Manager on each account who serves as the “Great Communicator.” We host weekly meetings with each client to update them on what we see from our end. The goal is to remove the proverbial “Black Hole” of billing and keep our clients over-informed at all times.
Yes, we have a proven track record of helping healthcare providers and laboratories achieve success through our services. Our executive team has well over 100+ years of combined experience. We do not learn on the job…
