Medical billing procedures are often complex and need to be completed with tremendous concentration. Realizing the importance of maintaining accuracy in medical billing, most healthcare entities are now outsourcing these tasks to medical billing outsourcing service providers. Professional medical billing services from established firms benefit long term healthcare facilities in many ways.
Professional Medical Billing Solutions: Core Benefits
The most important benefit of utilizing dedicated medical billing services is that medical practices and practitioners can obtain the payment due from insurance companies and patients in good time. Perfectly organized medical billing solutions offered by a reputable medical billing company also ensure the following benefits:
- Maximize reimbursement and cash flow: As the entire processing is carried out by experts, healthcare practices can submit medical bills and insurance claims promptly without errors. Thereby they can obtain maximum reimbursement and increase the cash flow of their practices.
- Reduce billing workload: Outsourcing medical billing jobs to external agencies significantly reduces the administrative workload of medical entities. They can save the valuable time and effort needed to perform the tedious billing procedures, which would considerably increase their efficiency and productivity.
- Save infrastructure costs: Through utilizing medical billing and coding services, healthcare facilities and individual practitioners can save on a considerable amount of money that would be needed to maintain the infrastructure, manpower, resources and technology to complete the billing and claim processing procedures in-house.
- Accurate and quality billing solutions: Medical billing solutions provided by a dependable medical transcription company excel in quality and accuracy. Professionals in such a firm manage the entire billing process utilizing advanced technology and the latest medical billing software.
- Focus on core skills: Professional medical billing services enables healthcare experts and other supporting personnel to concentrate on developing their core skills and providing better care for their patients without worrying about the complex billing tasks and issues related with claim denials and rejections.
State-of-the-art Technology and Advanced Software for Quality Services
Considering the medical billing requirements of long term healthcare facilities, acute care clinics, rehabilitation centers, hospitals, nursing homes, insurance agencies and other medical entities many reputable healthcare BPO companies in the US offer structured medical billing and coding services. To ensure quality and consistency in their services most firms are fully equipped with state-of-the-art-technology, innovative equipment and advanced medical billing software such as Lytec, Inception, Nextgen, Misys, Medisoft, IDX and more. Experienced medical billing experts, AAPC certified coders, accountants and quality controllers in these firms ensure efficient solutions strictly adhering to the latest medical reimbursement rules. Professional medical billing solutions offered by reliable medical billing outsourcing companies include:
- Patient Scheduling and Reminders
- Patient enrollment ( Demographics and Charges)
- Insurance enrollment ( For Physicians and offices)
- Insurance verification
- Insurance authorizations
- Coding and Audits
- Billing and reconciling of accounts (Payment Posting)
- Account analysis and Denial Management (EOB Analysis)
- AR Management ( Insurance and patient)
- Financial management reporting
Competitive Pricing with Great Cost Savings
Efficient medical billing services help long term healthcare facilities to get the work done at competitive pricing 30 to 40% lower than the market rates. These firms also offer supplementary benefits such as:
- Secured file transfer options
- 100% HIPAA compliant solutions
- Superior quality assurance
- Rapid turnaround time
- 24/7/365 technical assistance
- Free trial facility
It is evident that professional medical billing services offered by reliable companies ensure an array of benefits for long term healthcare facilities. Medical entities planning to outsource their billing and coding procedures can go for the services of a good medical billing and coding firm that offers the best solutions, both in terms of quality and cost-efficiency.