Noremac has created a utilization tool that can evaluate your practices’ utilization with similar peers by specialty across the country. This benchmarking tool is essential for determining outlier providers and coding trends and is an effective way to identify any potential compliance issues within your medical group and/or practice.
Additionally, this tool will identify any areas of which there is potential lost revenue in comparison to peers within your geographical region.
Noremac has had enormous success minimizing backlogs and account receivable list.
Accounts receivable management is biggest area of lost revenue for most practices across the country. Noremac provides a overview reimbursement analysis of your medical practice to determine the quality of your group’s billing process and chart flow, while analyzing the accounts receivable system including billing and denial workflow processes as well as an overview analysis any applicable coding & billing software currently being used by the practice.
Noremac has had enormous success with minimizing medical groups’ backlogs and account receivable list.
A poorly negotiated fee schedule could result in unrealized revenue loss.
One of the most important attributes of a successful medical practice is an awareness of how the group’s negotiated fee schedules compare when benchmarked to Medicare and other payers. A poorly negotiated fee schedule could result in unrealized revenue loss that in time could result in a devastating deficit for the practice.
A complete fee schedule analysis should be conducted on an annual basis to identify potential undervalued fees.
Noremac offers a simple process in which we will conduct a fee schedule analysis of the medical group’s top payers and analyze the current contracted amounts and compare with Medicare fee schedule and local fees based on the group’s location.
Noremac will determine whether or not payments are in line with the negotiated fees by carrier.
Noremac offers a unique service that can improve the efficiency of your staff by streamlining operations of the revenue collection process. In essence, Noremac will review 500-1,000 EOB’s (Explanation of Benefits), based on the group size, and determine whether or not the current carrier payments are in line with the negotiated fees by carrier. This service will:
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