subject: Outsource Medical Billing Services - Reduce Billing Inefficiencies [print this page] For medical professionals, it is extremely difficult to manage patient care as well as billing and coding tasks at the same time. Both need to be carried out efficiently. In order to ensure that you get the payment you deserve on time, the entire process of Revenue Cycle Management (RCM) should ensure timely, error-free medical billing solutions. Medical billing services are the ideal solution for those looking to make their practice more efficient.
Outsourcing medical billing and coding tasks to a reliable medical billing company reduces the administrative responsibilities of healthcare experts and enables them to focus on core activities with enhanced efficiency. There are a number of leading medical billing companies that offer assistance for your medical billing requirements. Medical billing outsourcing helps healthcare professionals submit medical bills and insurance claims promptly, thereby reducing billing inefficiencies.
Reduce Billing Inefficiency
A medical professional may be prone to billing errors due to the following reasons:
Violation of HIPAA norms
Lack of trained staff to ensure on time medical billing
Lack of information regarding denial of payments
Inadequate confirmation of a patients insurance coverage
Use of outdated medical billing software
Non-recognition of time lost between date of charge entry and time of delivery
Lack of definite written policy about the patients fiscal responsibility
To avoid such billing inefficiencies, outsource to a dependable medical billing company and ensure that your billing is performed efficiently, responsibly and promptly. Outsourced medical billing services can actually result in cash savings of up to 30 to 40 percent.
Comprehensive Medical Billing Service Ensures Consistent Solutions
Medical billing and coding firms are equipped with state-of-the-art technology, software and skilled professionals including billing specialists, coders, accountants, auditors and quality controllers who go all out to provide effective medical billing solutions in minimum time. The experts process and submit medical bills and insurance claims without any errors. The major services provided by medical billing companies include:
Patient statement creation and mailing
Patient information collection and analysis
Processing medical insurance claims
Solving the billing queries personally
Insurance verification and insurance authorization
Continuous monitoring and follow up of rejected claims and resubmitting them after resolving any problems
Customized reporting to track business activity and productivity
Payment plan setup
Credit bureau reporting
Generating reports with details of payments and claims, which helps you adjust your billing practices and improve cash flow.
Continuous evaluation of accounts
Regular quality checks
Charge entry
Cash posting and reconciliation
Analysis and recommendations
Scheduling and rescheduling
AR collections
24/7 customer support and technical assistance
Now you know how medical billing services help healthcare practices reduce billing inefficiencies.
