Medical Financial Reporting Services
Did you know that behavioral health facilities need annual financial checkups?
For a treatment facility to remain in business in today’s competitive world, it is crucial that its management team is aware of the state of its finances at all times. That’s why complete and comprehensive financial reporting is necessary for the well-being of any health care organization.
But monitoring and managing a facility’s revenue can often be tedious, complex, and time-consuming. That’s where Coast to Coast Medical Solutions comes in.
Medical financial reporting can provide insight into how a treatment facility is performing on measures such as the number of insurance claims awaiting payment, and how often and well your business is reimbursed by various insurance companies.
How We Can Help
Coast to Coast’s financial reporting specialists make it simple for your practice by providing customized financial reports on a weekly, monthly, quarterly and yearly basis. We deliver the most relevant and important information directly to you.
We offer a number of different customizable financial reports and key performance indicators, including but not limited to:
- Accounts Receivable Reports: Monthly A/R reports detail how old open claims are – by patient and insurance company.
- Balance Report: These monthly reports are a line-by-line account of open insurance claims, including helpful information regarding your facility's average reimbursement based on insurance type and level of care.
- Practice Analysis: A pie chart of services rendered, this monthly report identifies where you’re spending most of your time.
- Billing Report: A weekly report of insurance claims billed the previous week and status of each outstanding claim. Billing reports offer total transparency to behavioral health facilities on where the money is going.
- Negotiations Report: This reflects case-by-case rate negotiations, including trending data by the insurance company, third-party pricing company, and MRC2 reimbursement rates. These reports are run on a monthly and annual basis.
We’re also able to offer future budgeting abilities based on trending payment status including issued payments when the payments were made, and to whom the payment will be dispersed (facility, patient, co-insurance, or deductible).
Financial reports are key to helping medical care providers understand the health of their business operations. To learn more about our financial reporting services, call Coast to Coast Medical Solutions at (561) 855-2728.