Prompt submission of medical bills and insurance claims is important when it comes to managing the revenue cycle of healthcare practices. Most often, the busy schedules of physicians keep them from completing their billing and coding tasks in time. In view of this, established outsourcing companies offer efficient medical billing and coding services to help physicians claim for reimbursement within the prescribed time frame and thereby increase the revenue of their practice.
Professional Support to Maximize Revenue
Medical bill and claim processing procedures have to be performed accurately. Any kind of errors would lead to denial of claims, which would critically affect the cash flow of the medical practice. Assigning billing and coding tasks to external companies helps physicians obtain prompt and error-free results. Realizing the medical billing and coding requirements of physicians, many leading medical billing companies in the U.S. offer well-organized medical billing outsourcing services.
The systematic medical billing and coding services offered by reliable companies considerably reduce the administrative workload of physicians and allow them to focus on their core activities with improved efficiency. They can also enjoy additional benefits such as:
Submission of error-free medical bills: As the medical billing, claim processing and coding procedures are performed by professionals, the timely submission of error-free medical bills and claims is ensured. This would considerably minimize the odds of rejection or denial of claims and maximize the cash flow of physician practices.
Regular follow-ups: Reliable medical billing companies actually work as the back office of healthcare facilities. They perform regular follow-ups for all the claims submitted during each phase and this allows physicians to obtain maximum reimbursement.
Cuts costs: Outsourcing billing and coding tasks to third party providers’ enables individual practitioners save money that would be otherwise needed to maintain the additional staff, technology, infrastructure, and software necessary for carrying out the task within their facilities.
Reduces backlogs: Medical billing services allow physician practices to significantly reduce backlogs in billing procedures.
Comprehensive Medical Billing Solutions
Companies that offer medical billing and coding services ensure customized solutions. Established service providers are equipped with skilled AAPC-certified coders, medical billing experts, accountants, quality controllers and other professionals, as well as the latest technology and advanced medical billing software. Their staff includes experts in various medical coding and billing procedures. They process all the claims accurately and in accordance with current reimbursement norms. The client-focused medical coding and billing solutions offered by a professional medical billing company covers:
- Patient enrollment (Demographics and charges)
- Patient scheduling and reminders
- AR management (insurance and patient)
- Insurance verification
- Billing and reconciling of accounts (Payment posting)
- Insurance authorizations
- Financial management reporting
- Medical coding audits
- DRG/ ICD-9-CM coding validations
- CPT medical coding
- Emergency room e-code evaluation
- ASCs-Ambulatory surgical Centers Coding
- ICD-9 coding based on AMA and CMS guidelines
HIPAA Compliant Data Security
In addition to providing quality billing and coding solutions, reliable service providers also ensure data security and confidentiality in adherence with HIPAA norms. Their medical coding and billing solutions ensure:
- Secure file transfer options
- Fast turnaround time
- Customized billing procedures
- Regular QA checking
- 24/7 customer support and technical assistance
- Affordable pricing: with 30 to 40% cost savings
- Free trial offer
Well-coordinated medical billing and coding services help physicians obtain maximum reimbursement and considerably increase their revenue. To obtain all these benefits, it is important for physician practices to outsource their billing and coding tasks to a reliable company that can deliver efficient, timely and budget-friendly solutions.