Denied medical claims are bad for your wallet. It is difficult to manage both health care and your billing and coding tasks at the same time. Both need to be carried out efficiently. To ensure that you indeed get the payment you deserve promptly, the entire process of Revenue Cycle Management (RCM) should ensure timely, error-free solutions. There is no better way to achieve this than by outsourcing your billing jobs to a reliable medical billing company.
A healthcare provider can be prone to blame due to many reasons:
- Inadequate proper confirmation of a patient’s insurance coverage
- Non-recognition of time lost between date of charge entry and time of delivery
- Use of outdated billing software
- Non-HIPAA compliance
- Lack of information on why payments were denied so that staff can be trained to avoid making the same mistakes
- No proper staff training to ensure timely medical billing
- No unambiguous written policy concerning the patient’s fiscal responsibility
If all this is not enough, performing the strenuous and monotonous billing task can get slow after a while leading to backlog. Outsource to the right service provider and you 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.