Per capita medical spending in the U.S. is much higher than in other countries. It’s no wonder that the medical billing industry is growing by leaps and bounds. As a medical professional, your goal of providing timely and comprehensive patient care is intimately linked to your cash flow, which inevitably slows down if billing procedures are inefficient and irregular. Hiring billing and coding professionals to do the job in-house may not be feasible in these economically trying times. Your best option is to outsource medical billing to a competent service provider. A professional medical billing company is well-equipped to perform the task – both in terms of skilled and experienced billing specialists, coders, and other service personnel as well as advanced billing software.
A reliable outsourcing company would offer claims management and medical billing services for all types of medical specialties. The support you can expect:
- Efficient claims preparation, claims editing and claims submission
- Bills reflecting data accuracy with supporting diagnoses for each service
- Claim submission if the format prescribed by the insurer to minimize refusal
- Accuracy in demographic, policy and coding information to reduce denial
In short, a client-focused provider would provide a full suite of medical billing solutions starting from patient enrollment in the billing system and verification, to coding, billing, accounts reconciliation and AR collections. If the payer makes errors with regard to adjudication, medical billing companies also assist in the appeals process to resolve underpayments or unjustified denial of payment.