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Industry Insights

Synergy Blogs

Check out the Synergy Blogs to learn all about the FQHC industry. We share insights on best practices, how to forecast claims, collecting aged receivables, co-sourcing, tips on preventing denials in your community health center and so much more.

 

Synergy Blogs
Industry Insights
Denial Prevention

According to the journal of the American Academy of Family Practice, it costs $25 to re-process a "clean" claim. You can see how potential claims revenue can be eaten up by reworking denials. Most Community Health Centers don't have the staff to fix claim denials received from insurance. It can be overwhelming since about 29% of claims are commonly denied by payers. THE SYNERGY BILLING APPROACH: Understand payer data requirements, create configuration, rules, and data requirements for each payer, and scrub claims for accuracy prior to submission. This approach is effective. 90% of the CMS claims that we submit are paid within 60 days.

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Forecasting FQHC Patient Service Revenue
As an industry-leading financial resource for community health centers across the country, we often get asked, “How much revenue should my FQHC be collecting?” Questions like this reinforce the complexity that is health center budgeting. That is why we work with CHCs to forecast revenue – so they know what to expect!
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Analyzing Gross Collection Rate Trends: FQHC Financial Health
Analyzing Gross Collection Rate Trends: Key Indicators for FQHC Financial Health. One critical metric that FQHC executives should closely monitor is the Gross Collection Rate (GCR). GCR measures the percentage of charges collected from patients before accounting for any adjustments, write-offs, or contractual allowances. Understanding GCR trends and their implications can significantly impact an FQHC’s financial health and long-term sustainability.
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The Power of Data: Understanding the Role of Paid Claims
If you’re an executive overseeing a Federally Qualified Health Center (FQHC), it is likely that your primary mission is to provide quality healthcare to the community. Robust billing systems and processes are essential to achieve this goal and ensure the center’s long-term success. One crucial performance metric that can guide your decision-making and provide valuable insights into your FQHC’s financial standing is the ratio of paid and unpaid claims.
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