subject: Medical Billing Companies Can Ease The Burden While Increasing Revenue [print this page] Medical billing companies are staffed by fully trained personnel with experience in accounting, who are capable familiar with HIPPA and medical coding, as well as legal consultants who are on hand to answer any questions that might arise. The staff receives regular training in order to ensure each employee is up to date on all current medical codes, changes to insurance forms and adjustments to coverage/deductibles and any collection issues on accounts.
By choosing to work with one of the many medical billing companies available to maintain their accounts receivable and patient collection accounts, a medical practice is able to free up staff members to better assist their patients with medical care, school physicals, vaccinations, prescription refills, follow up care and illnesses, or any other necessary service requiring a medical care giver.
Billing companies are familiar working with specialty practices such as:
-Allergy / immunology
-Anesthesia
-Gastroenterology
-Internal medicine
-OB/GYN
-Pain management
-Pathology
-Physical therapy
-Ophthalmology
-Orthopedic
-Radiology
-Urology
Using one of these services allows their employees to devote their full attention and time toward collecting on past due accounts, resubmitting claims to insurance companies and striving toward improving the bottom line for their clientele. With the ability to provide reliable customer service and make full use of a computerized and integrated billing infrastructure, the employees are better able to secure payment on past due accounts. Any changes necessary can be made within 24 hours on behalf of the doctor's practice or the insurance company, meaning any pending payments applied, reversed or denied can be noted to the account, as well, in order to notify both the doctor and the patient. This technology will decrease the amount of time between bills sent and payments received on the account.
By contracting with one of theses firms, not only will there be a notable increase in the accounts receivable department, but with more staff members available to devote time and energy toward patients, an increase in revenue is possible. More appointments can be scheduled to see patients, who will be pleased that there is more flexibility in the time staff is available, as well as less of a wait for an appointment opening. Staff can focus their energy on generating revenue instead of collecting it. Due to the ever changing forms required for filing insurance claims, workman's compensation, Medicare, secondary insurance, public aid, state aid and COBRA plans, having a professional staff experienced in this area of the business is beneficial to the bottom line for any employer.
