HCS, LLC Practice Business Office Reviews

In general, medical practices would rather sell for cash than on credit. However, the third-party payer payment system forces medical practices to extend credit to most patients, creating an accounts receivable. Eventually, the patient or third-party payer will pay the account, at which time the medical practice receives cash.

The success of medical practice operations is dependent, in part, on the success in which medical practice clinical and business office staff collect practice revenues and decreases the receivables. Appropriate documentation, coding, billing and collection can lead to:

	Reduced Gross Days in Accounts Receivable Outstanding (GDARO), which allow optimal cash flow
	Bad debt and write-offs that are minimized
	Compliance with third-party payer regulations

By utilizing our physician consultants, you can ensure that you are obtaining optimum cash flow while maintaining compliance with third-party payer regulations. As part of our Practice Business Office Review, the following are performed:

	Review of physician documentation
	Assessment of coding and billing of medical practice claims
	Analysis of accounts receivable management, including an EOB analysis
	A cursory internal control review to establish potential problems with the protection of cash
	Education for medical practice clinical and business office staff

If your organization is interested in our Practice Business Office Review Services, you can reach us by telephone, fax or e-mail. Tell us about your practice business office concerns and we will give you an idea of how we can help. Please direct inquiries to Kam McQuay at (317) 633-4705, Ext. 311 or e-mail at kmcquay@hcs-healthcare.com.

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