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Megfin India

Rajarhat, Kolkata, West Bengal

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Megfin India - Service Provider of medical coding services, payer verification services & accounts receivable services in Kolkata, West Bengal.+ Read More

Nature of Business

Service Provider

Medical Coding Services
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Medical Coding Services

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MFI keeps constant vigilance on the industry standard practices and employs trained and certified professional in all our positions. We adhere to HIPAA guidelines throughout our workflow and that is strictly maintained across all product lines. MFI keeps tight control over any variances and always provides legal and ethical services at all times. Our team of certified and professional coders have industry standard accreditation from AAPC. Rest assured that we will find out any discrepancies and errors in the billing process and provide you with pinpoint accuracy at all times.

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Payer Verification Services
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MFI keeps a large database of continuously updated information of payer information that drastically speeds up the billing and verification process. Healthcare customers and providers both benefit from this. We employ dedicated research teams exclusively for processing insurance and payer verification services. Armed with the correct and relevant information at all times, we are constantly on our feet against denials and processing failures. MFI ensures that patient information is collected and retained in its entirety at all times, leading to effortless billing and claims processing.

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Accounts Receivable Services
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Accounts Receivable is the most significant asset and the largest singular chunk of revenue for most healthcare service providers. That is why MFI employs a team of highly trained professional analysts to manage any scenario involving accounts receivable and client cash flow systems. We specialise in payment recovery and acceleration of cash flow while minimising AR times by ensuring fast and guaranteed claims processing, denial management, and relevant follow ups with patients and insurance vendors. MFI’s long time in the industry allows us to gain specialised insight into this highly complicated process and deliver the fastest services that are also the most accurate.

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Revenue Cycle Management Services
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MFI conducts frequent and comprehensive evaluations of the services we provide so that we can ensure that they are always in the interest of our clients and aid them in tendering effective healthcare services at all times. We have enabled clients to cut overhead and redundancies effectively, saving up to 70% in operational costs and streamlining the overall process.

A) Insurance eligibility & benefit verification: Web sites, Automated Voice Responses and Calling to :

  • Insurances (Medicare, Medicaid, BCBS, Railroad, Cigna, Aetna, UHC, Work’s Comp…)
  • Validate the insurance information, if found incorrect correspond to patient, correct & revalidate

B) Patient Guarantor Demographic & Insurance information data entry Verification of Residential address :

C) Medical coding and auditing :

  • (CPT, HCPCS, PQRI, ICD-9/ICD-10) by experienced CPC certified professional through surgical note, medical record or transcription reports.
  • Quality Analyst with industry standards accuracy and Quartely quality audit review process.

D) Charge entry to Billing system :

  • Patient/Guarantor Demographic, insurance Pri/Sec & other billing data like CPT, HCPCS, PQRI, ICD-9/ICD-10…., Work’s comp, Authorization…
  • Quality Analyst to ensure clean claim with 99% accuracy.

E) EDI/Paper claim submission, editing and audit to ensure seamless transmission of claims to payers.:

  • Reconciliation of submitted claims per the EDI transmission reports and working on rejections (if any) and resubmission of corrected claims.
  • Quality Analyst with overall 99.9% accuracy.

F) Payment posting:

  • ERA/EFT
  • Lock box
  • Credit card, Cash & check (deposits via fax or courier)
  • Reconciliation of daily deposits through bank statement (login required for access to bank portals) and EOM payment closing with all discrepancies for future adjustments (Refund, overpay adj., wrong payments etc..)
  • Quality Analyst to ensure payment posting with 99.9% accuracy.

G) Under payment Monitoring, analysis and follow-up with payers:

  • Analysis of under paid accounts and follow up through insurance calls and correspondence
  • Monthly payment analysis of paid claims with all insurances Reimbursement rate
  • Quartely Audits: Q1-Q4 to ensure that insurances are paid per contract rate.

H) Refund process: Identification of refunds through correspondence & credit balance report:

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Billing And Claims Generation Services
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MFI takes care of accounts generation and entry of relevant data right from the beginning. This includes keeping constant track of the medical services tendered in accordance to the coding standards in force. These data are then used to actually process the reimbursements towards the physicians and medical practitioners towards their services as well as billing the patients in a fair and ethical manner for the services provided to them. Our coding and charge entry teams are in constant communication and cooperate extensively to reduce any chances of error or discrepancies. We ensure that claims are processed without hassle and as soon as possible.

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