Outsourced Strategies International 18006702809
What a Good Medical Billing Firm Can Do Medical billing is an important activity in every medical practice. Patients have to be billed accurately for services provided so that claims are not rejected. Efficient medical billing is necessary maximize reimbursement and enhance the bottom line of your practice. However, carrying out medical coding and billing activities in your medical facility can prove tedious and expensive. The best way to manage this crucial administrative task is to outsource it to an efficient medical billing firm. What You Can Expect From a Professional Medical Billing Company There are innumerable service providers out there, but not all can provide you with satisfactory services. Only an experienced, professional service provider can ensure accurate services, which is necessary to minimize claim rejection and maximize reimbursement. Here are the benefits you can expect: •
End-to-end Services: Reliable medical billing services would cover the entire gamut of activities involved in the medical billing cycle. A good company would have experienced professionals on the job. This would ensure
Outsourced Strategies International 18006702809
efficient solutions to meet your practice goals. Their expert team of AAPC-certified coders can assign the right ICD, CPT, and HCPCS codes, taking care to meet current insurance and governmental regulatory requirements, and payer-specific coding requirements. Professionals of these companies can provide you with end-to-end solutions that relieve you of your administrative hassles and free up your time for better patient treatment and care. The services to optimize your collections would include: -
Enrollment into the billing system – The firm receives all patient demographic information from your practice including coverage details and enters it in the billing software.
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Verification – The patient’s insurance coverage is verified with the insurer and authorizations are obtained for the provision of healthcare services, including preauthorization for non-emergency treatments
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Billing and Reconciling of Accounts – You can expect complicated and time consuming charge entry to be handled efficiently by a good medical billing firm. The process involves entering patient’s personal information from the demographic sheets, checking the accuracy of the diagnosis and CPT codes, and creating a charge based on carrier and location-specific billing guidelines.
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Cash posting: Payments from various sources are posted in the medical billing software. Payment anomalies are identified for the filing of requests or appeals.
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Accounts Receivable Collections: Proper follow-up services are provided to collect payments from insurers and patients as well as old AR.
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Better focus on patient care: You can expect to have more time to devote to patient treatment and care when you outsource these tasks to a competent outsourcing firm. These companies are a great support if you have a small practice and cannot afford a full-fledged billing and coding department. An efficient outsourcing company would handle your complex healthcare billing process, relieving you of a stressful so that you can provide undivided attention to their patients.
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HIPAA compliance ensured: Reputable companies would provide with HIPAA compliant services, ensuring maximum security and confidentiality for your patient data.
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Enjoy excellent cost savings: In addition to enhancing work efficiency, outsourcing these tasks to an experienced service provider can ensure 30 to 40% savings on your operational costs.
Outsourced Strategies International 18006702809
Choose your service provider wisely by ascertaining that they can manage your billing and coding tasks in a cost-effective manner.