Medical billing code facts

Page 1

TheTr ueCos tofMedi cal Bi l l i ng& Codi ngSer v i ces T her ei sa nunpr ec edent eddema ndf or Medi c a l Bi l l er sa ndCoder si nt hehea l t hc a r ei ndus t r y .Ac r os sv a r i ousmedi c a l s pec i a l t y pr a c t i c es t r uc t ur es t he c os t v a r i a nc eofma na gi ngi nhous ebi l l er si s r el a t i v el yhi gher . E x per t spr edi c tt ha tt he ov er a l l oper a t i on c os t st o ma na ge i nhous ebi l l er sea ty ourpr o ta ny wher e bet ween11%16%.

I nHous eCos tFact or st hatdi s r upty ourr ev enuear e

1

2

3

4

T r a i n i n g S a l a r i e s &O ffic eS u p p l i e sO ffic e C o s t s Wa g e s &E q u i p me n t S p a c e

5

6

7

8

E mp l o y e e E D I c o s t s R e c r u i t i n gC o mmu n i c a t i o n B e n et s C o s t s C o s t s

Medi calBi l l i ngCos tFact s

17% 35% 20%

i sov er a l l ex pens ei nc ur r edbyPhy s i c i a nst oens ur ea c c ur a t er ei mbur s ement sony ourmont hl yr ev enue,whi c ha l lt hemedi c a lf a c i l i t i esi nUS i nc l udi ngs ma l lt omedi um s i z edPhy s i c i a nf a c i l i t i es , Hos pi t a l sa ndOut pa t i entpr a c t i c esr equi r et oma i nt a i ni nhous ebi l l i ngs t a ff. Phy s i c i a nsc a ns a v e onOper a t i ona l c os t sa ndr a i s et heI nc omeupby

byhi r i ngadedi c a t edbi l l i ngc ompa ny

Mos tPhy s i c i a npr a c t i c esi nUSt ha tha v ei nhous ebi l l i ngf a c i l i t yc ol l ec t s i gnic a nt l yl es s err ev enuet ha npr a c t i c est ha tha v eout s our c edi tt ot he ex per t s .

-Phys i c i anNewsDi ges t

Lat es tFi ndi ngsofPay er -Pr ov i derCos tDi s r upt i on

I nt hey ea r2014, Pa y er sr ei mbur s edpr ov i der s ona na v er a ge22% onbi l l edc ha r gesa ndby 2016i tdec r ea s edt o19%. Dur i ngt hey ea r s2014t o2016, a c c or di ngt oa pr ov i ders ur v ey84%s a i dt ha tt heyha ds eena ups ur gei npa t i entr es pons i bi l i t y .

Wor k owi mpactwhenPhy s i ci ansHi r eaDedi cat ed Medi calBi l l i ngandCodi ngCompany

Fas t er Tur nar oundTi me 7t o14day s

Fi nanci alRepor t Acces s i bi l i t y 24/ 7

Har dwar eand Sy s t em expens e i sdownt oNone

96% Phy s i ci ans getpai don r s ts ubmi s s i on

15% Decr eas ei n Pr act i ce Ov er heads

Ty posand Manualer r or s ar edownby95%

Eas i er andSucces s f ul Tr ans i t i on i nt o I CD10

Concl us i on Mos tpr a c t i c esa r es t i l l nota wa r ea st ohowMedi c a l Bi l l i ngS er v i c esa ndRev enueCy c l e Ma na gementc a nr educ ec os t sa ndi nc r ea s ec ol l ec t i ons ,butt ha nk st oout s our c ed medi c a l bi l l i ngc ompa ni est heya r enowa bl et ogener a t er ev enue, whi c ht heyv er ywel l des er v e.

Ques t i ons ?

883573226 Ca l l usT ol l F r eea t8

Vi s i tUs :www. medi c a l bi l l er s a ndc oder s . c om


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.