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Medical Financial Management, Inc
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Medical Financial Management, Inc
Rachel Lucas

8135 N. Milwaukee Ave
Niles IL 60714
(847) 967-8098

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Medical Financial Management, Inc


With over 40 years experience, we provide the Mid-West's premier billing service.  We serve all specialties and never forget that the success of your business creates our success.

The Reimbursement Specialists

We have provided services in billing, collections, practice management to the medical community.

With 40 years in the business MFM's 1:2.5 employee - to - client ratio contributes greatly to our 90% collection rate. Our staff includes certified medical coders, ready to grapple with all those legal regulations. We continuously challenge usual and customary practice, while updating information and demographic charges daily.

The Filing Process

MFM follows a structured and proven filing process shown to provide our clients with the quickest and most efficient financial return for services rendered.

We provide self-addressed, prepaid envelopes for the physician to return along with a copy of the patient's admission record.

Data is accurately entered into our computer and a MFM professional specifically trained for that account files the insurance claims.

MFM submits claims for Medicare, Blue Shield, Public Aid and WebMD electronically, based upon commercial payer claims.

Bills are mailed to patients following from their insurance company.

Payments are posted to the patient's individual account and are deposited weekly into the bank account of the physician's choice. Bank deposit receipts and payment journals are sent directly to the physician.

Bills are issued a set intervals to the patient is payments do not result in a zero balance. MFM makes every attempt to assist the patient in receiving payment balance. MFM makes every attempt to assist the patient in receiving payment from third party carriers.

MFM contacts patients by telephone or letter and all inquiries are handled promptly by our trained staff.

Where no realistic attempts has been made by a patient to reduce any unpaid balance, alternatives are offered prior to the account being sent to collections.

MFM offer a payment book plan on delinquent accounts.

Denials from insurance carriers claiming billing is over "usual and customary" are challenged. Our appeals have a 95% success rate.

Physician liens are filed for legal cases.

Physicians Billing Services

What is Medical Financial Management, Inc.?

Because every practice is unique we customize our services to meet your individual needs. With over 35 years experience providing professional billing services to physicians we have everything you need to build a successful practice.

 Enter all patient demographics
 Enter all procedural information
 File all insurance claims electronically or on paper
 Monthly cycle billing to patients(according to your specific guidelines) via US mail
 Respond to all insurance(eob's) and patient correspondence
 Routine follow-up with insurance companies and patients(according to your specific guidelines)
 Posting all insurance payments

Third-party administration
Claims adjudication
Eligibility tracking verification
Quality assurance
HIPPA compliant

Physician credentialing is included in our service

Receivables Management
ICD 9 Coding
Billing
Payer relations
Patient relations
Collections
Fee analysis
Managed-care contracts


Niles IL Medical Billing Service

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