Medical Billing Companies & Consultants in Northbrook, IL

Precision Medical Billing Services is an Illinois revenue cycle management firm that takes on the billing and administrative side of healthcare for independent practices and other providers. Although its marketing centers on the Chicago market, the company runs its operations from an office in Northbrook and says it works with clients nationwide. Its main customers are ambulatory medical practices and physicians, and it also supports suppliers of medical products and agencies that deliver care in the home.

Leadership and Background

Irina Martynova founded the company and serves as its CEO. She holds the Registered Health Information Technician (RHIT) credential from AHIMA and has a background in administering billing and coding. The firm presents her as someone who treats each client relationship as a partnership, using financial and operational tools to help providers strengthen revenue and run their offices more efficiently.

Client testimonials on the site describe lower accounts receivable, quick answers to questions from physicians, and help building a new practice from the ground up beginning in 2016.

Services Offered

The company handles the full claims cycle, from coding and submission through to collections, and adds advisory work on the business side of a practice. Its main offerings include:

• Physician and practice medical billing
• Medical coding
• Full revenue cycle management
• Credentialing and enrollment with payers
• Fee schedule review and practice consulting
• Practice management support
• Performance reporting and KPI analysis
• Billing for medical supplies
• Durable medical equipment (DME) billing
• Home care billing

How They Work With Clients

Precision describes itself as an outsourced extension of the practice's own staff. Claims go out electronically to Medicare, Medicaid, Blue Cross Blue Shield and commercial insurers within two days of the firm receiving them. Clients get secure online access to their billing records, so they can look up account details and pull reports, including patient ledgers, on their own.

The team also creates and maintains a custom superbill for each practice and keeps watch over managed care contracts on the provider's behalf. A review of the client's fee schedule comes as part of the standard revenue cycle package, because the firm sees pricing as central to an independent practice's financial health.

What Sets Them Apart

Transparency is a recurring theme. The firm shares detailed performance reports and reviews key performance indicators with clients so that each target is tracked and gaps can be addressed together. Pricing is offered either as a flat percentage or on a sliding scale, and the company states that it will try to beat rates quoted by competitors.

Buyers who want a local, Illinois-based team led by a credentialed founder, with coverage that includes physician billing as well as DME, supply and home care claims, may find this firm worth considering.