Medical Billing solution to Boost Provider Revenue and Efficiency

The medical billing industry is crucial for maintaining the financial stability of the U.S. healthcare system, generating essential revenue for healthcare institutions and service providers. The U.S.’s complex, hybrid, multi-payer system has led to a fragmented and inefficient industry, resulting in significant losses. With medical care costs rising faster than overall consumer prices, many providers are under pressure, with some forced to close locations or reduce services. 

Michael N. Brown, founder and CEO of Fellow Health Partners (FHP), started the company after noticing the “archaic” and “broken” state of the billing landscape for healthcare providers. The complexity of resolving outstanding claims left many doctor’s offices and facilities without the resources to resubmit or appeal denied insurance claims. Additionally, Brown observed that a doctor could perform the same procedure five times and receive different payments for four of them, and none for the fifth. These barriers caused healthcare providers to lose up to 12% of their revenue. 

Brown noted that most providers, especially independent practitioners and smaller hospitals, clinics, and ambulatory surgical centers (ASCs), lack the resources to pursue these claims. Their administrative staff often lack the expertise or capacity to handle the tasks required. This situation left them with two inefficient options: work with boutique billing companies that can’t scale with their growth or partner with large billing organizations that focus on volume, resulting in a lower success rate due to inadequate follow-up. 

Before founding FHP, Brown had extensive experience in professional services, including positions at PricewaterhouseCoopers and Loughlin Management Partners + Co. With over 15 years of experience in developing operational and financial strategies across various industries, Brown became interested in the medical billing industry after a conversation with the owner of a small billing company. This encounter sparked his interest, leading him to research the needs of healthcare providers. 

“That chance encounter led to the formation of Fellow Health Partners, addressing the unmet needs of healthcare providers and helping them recover millions of dollars lost due to the complex nature of U.S. healthcare billing,” Brown says. 

Realizing the financial struggles providers face due to the billing industry’s complications, Brown aimed to create a new operating model to address these pain points. FHP’s approach combines technology and business solutions to ensure profitability and sustainability for providers, adapting to the evolving medical landscape. 

To achieve this, FHP acquired several smaller billing companies and implemented new billing processes and technological solutions. These include SimpleSwitch™, which maintains providers’ cash flow during system transitions, and SAVi™, FHP’s proprietary technology to streamline workflow, enhance data access, and optimize business processes. 

FHP’s unique framework helps clients reduce collection costs by up to 20%, increase net patient revenue by up to 35%, and capture up to 98.5% of contract revenue. 

“Fellow Health Partners is committed to delivering innovative medical business solutions that support our clients’ growth and profitability amid today’s challenges,” Brown says. “By integrating technology, talent, and training, we’ve created a multi-faceted support system that is both high-tech and high-touch, resulting in greater transparency, more revenue, and less stress.”