I’m still not sold on outsourcing. Why should I consider it?
Keeping up with complex, fast-changing compliance regulations and wrestling with claims denials, late payers and expensive industry technology isn’t what you had in mind when you invested in medical school. Expert-level staff can be time-consuming and expensive to train and keep motivated, and software can be buggy, hard to use and unreliable.
Outsourcing to Fi-Med means you hand it off and forget about it. While you’re moving on to the next patient, we’re moving fast on your claims, applying any new regulatory conditions so they’re sent out clean and compliant the first time, and getting revenue flowing back into your practice in as little as 24 days.
How do you charge for your services?
We charge a straightforward percentage of the billings we collect on your behalf, depending on the complexity and size of your practice. Charging this way is a smart, pay-for-performance model that saves you money and guarantees we’ll work hard to make sure you receive every dollar you’re entitled to…fast.
Do I have to pay extra for financial reporting?
Fi-Med provides all of its clients with customized financial reports – monthly and annually – to suit the needs of each practice at no additional charge. As part of that process, we also provide state-by-state and national standards comparisons so you can see how your practice stacks up against others in similar specialties. More importantly, we also identify areas of compliance risk and make recommendations that will help protect your practice and improve its financial health.
Are you HIPAA compliant?
Yes! We keep on top of HIPAA updates and comply with all related privacy and security regulations.
Will I have to switch banks?
No, your payments will be securely deposited into the bank and account of your choice.
What is a lockbox and why do I need one?
A Fi-Med lockbox is the fastest and most secure way to receive your payments. Our bonded lockbox specialists scan deposits and record payments, making them viewable to you via secure internet connection. Funds are sent by ACH directly into your bank account on file. You’ll receive instant email notification of the deposit, and are able to view your EOBs right online. Clients using Fi-Med’s lockbox service usually receive their money a full week faster than without it.
Sounds great, but why Fi-Med?
Other medical billing companies focus on technology, still others focus on people. But no other medical billing and financial management firm can provide the unique combination of skilled specialists and top technology that Fi-Med can. Our certified, experienced, thoroughly-trained coding and compliance officers are experts at what they do, and get to know your practice inside and out. Armed with the same cutting-edge technology that powers large medical facility accounting teams, we level the playing field between independent physicians and insurance companies.
For groups, labs, surgical centers and hospitals, we act as your comprehensive in-house team – freeing up your staff, space and budget for other important projects. We’ve won numerous small business awards, including the exciting Inc 5000 in 2008, and we’ve been growing the Fi-Med family for more than 15 years.
What specialties do you provide services for?
Thanks to our high-volume technology, Fi-Med is equipped to provide services to all medical specialties, from solo practices and surgeons to ambulatory surgical centers (ASCs) to labs to hospitals. Some of the specialties we currently serve nationwide are:
Ambulatory Surgery Centers (ASCs)
Anesthesiology
Assistant Surgeons
Dermatology
Family Practice
General Practice
Internal Medicine
Nephrology
Neurology
Neurosurgery
OB-GYN
Orthopedic Surgery
Pain Management
Pathology Labs
Physician Assistants
Plastic/Reconstructive Surgery
Psychiatry
Vascular Surgery
