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How does a physician get involved with PhyFocus?
First, a preliminary phone interview enables physicians to evaluate their current billing status and needs. Then, during a follow-up meeting with PhyFocus staff, a detailed plan is developed. Experts from PhyFocus test a practice's existing computer hardware and data lines for adaptability to the PhyFocus system and make recommendations for upgrades or changes, if necessary. If additional hardware is required, PhyFocus can assist in acquiring, installing and maintaining it. They also install software and establish master files for the practice, and provide initial training for practice staff in how to use them. Once up and running, clients have access to the wealth of technical support, advice and other resources available through PhyFocus; and they have peace of mind knowing all their billing needs are in good hands.
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| 2. |
What does CBO stand for?
Central Business Office
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| 3. |
What does MSO stand for?
Management Services Organization
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| 4. |
How can I compare my gross collection rates with other providers?
To more accurately compare your gross collection rate to others, you will need to know:
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How the other provider's fee schedule is built, compared to how yours is built |
| 2. |
About your competitor's payer mix and how that compares to yours |
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| 5. |
What is the Medical Group Management Association (MGMA) standard for Days in Accounts Receivable?
The 2003 MGMA mean is 62.85, based on 2002 data.
As of December 2003, PhyFocus's group mean is 39.0.
Several PhyFocus clients have Days in Accounts Receivable in the high 20s.
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| 6. |
As a client, who would I contact with questions regarding my practice?
Your Practice Support Representative or appropriate department manager.
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| 7. |
How does PhyFocus calculate Days in Accounts Receivable?
PhyFocus calculates Days in Accounts Receivable as: current Accounts Receivable divided by the average of the last four months of gross charges. |
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