Have you received a letter in the mail and would like to make a payment?
UFS is equipped to handle complicated medical billing processes, allowing your business to concentrate on what’s important – your patients. As your medical billing partner, UFS helps to implement best practices for patient intake, claims management, payment posting, cash handling, and more. Our billing department operates as an extension of your business office to improve your cash flow by making pre-collection calls. Your customers will appreciate the one-on-one customer service approach that UFS offers.
Universal Financial Systems provides doctor credentialing services for all specialties. Our services include provider enrollment and primary source verification, as well as credentialing for allied, alternative, and complementary practitioners. We assist with enrollment with all insurance networks including Medicare, Medicaid and commercial insurances.
Provider Compensation Modeling
The most advanced practices are moving to provider compensation models based on a combination of performance, receipts, RVU’s, industry benchmarks, and other performance-based metrics. Our experts can train your practice on how to implement a compensation model that will be mutually beneficial and surely attract more providers.
Billing & Coding Audit
If your practice is not currently auditing its billing & coding, whether your practice performs its billing in-house or has its billing out-sourced, you may be over-coding, under-coding, losing potential revenue or out of compliance. UFS provides various levels of billing & coding audit to fit your needs and give you peace of mind.
General Business Consulting
Dealing with complex business issues isn’t easy. As your company grows, so will the issues you and your management team will face. Our experts have decades of experience managing and consulting start-ups to large, established corporate brands. Our experts can help with finance, management, IT, marketing, strategy, and more.
UFS’ accounting team helps with bookkeeping, bill payment, budgeting & forecasting, invoicing, AR management, cash flow, debt reduction strategies, custom reporting, and general best practices. Our team of accountants can help your company take control of your vendors, customers and general accounting.
UFS is proud to be a member and partner with the following organizations:
Frequently Asked Questions
Why should I outsource my Medical Billing & Coding?
Medical Billing & Coding is a very complex process that requires efficiency, redundancy, and close monitoring. Some practices would rather concentrate their efforts on seeing and managing patients than negotiating with insurance companies.
How do I know if my billing needs help?
The most obvious sign that you need help with your billing system is when the bank account level drops. By the time this happens, it may be too late to recover without bringing in a professional team to correct it.
Whether your billing is in-house or outsourced, there are a number of reports that are fundamental to understanding the health of your billing system:
- Net Collections Performance: This measures how effective the billing team is at collecting revenue. For every dollar that is collectable after adjustments, how much is collected?
- Days Sales Outstanding (DSO): This metric measures how quickly your practice is paid on its services.
- Aging Summary: What does your aging look like? Do you know what to compare it against?
Can I have a free billing analysis performed on my billing team?
Universal Financial Systems offers a free billing analysis for all practices. We compare your results against MGMA (Medical Group Management Association) benchmarks, allowing you to know where your billing system stands.
Why does it matter that UFS does not outsource overseas?
When it comes to Medical Billing, you get what you pay for. Medical billing is the most important aspect of your practice, second only to the Doctors and their ability to see and treat patients.
Outsourcing overseas saves billing companies money, which translates into lower fees for the practice. Sounds good doesn’t it? While the practice saves initially due to lower fees, they quickly begin to suffer from inefficient follow-up on claims, increased AR, and the practice ultimately pays more due to lost revenue.
What does UFS charge for outsourced billing?
UFS’s fees are based on a percentage of your receipts, which encourages us to be as efficient as possible with billing processes. UFS does not get paid unless the practice gets paid. There are several factors that affect the billing rate, including specialty type, complexity of billing and coding, efficiency of the current systems in place, number of claims processed daily, and receipts to name a few. Please contact UFS for more information
Help! My billing system is on fire! What do I do?
Nobody changes billing systems when everything is running smoothly. UFS typically takes on billing systems when they are in turmoil.
UFS takes a proprietary “triage approach” to help stop the bleeding and a keep the practice for losing any more money.
While it typically takes roughly 30 days to on-board a practice, UFS has been able to bring on practices in as little as 1 week.