Medical Billing Services Helps Healthcare Practices Enhance Reimbursement by Avoiding Compliance Issues

by | Last updated Jul 3, 2023 | Published on Jan 11, 2014 | Resources, Press Releases | 0 comments

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Outsource Strategies International (OSI), a leading healthcare BPO company based in Tulsa, Oklahoma has announced that it can help healthcare practices ensure appropriate reimbursement with steps to avoid compliance issues.

The ever changing landscape of medical billing and coding often poses several issues for healthcare practices. ICD-10, Healthcare Compliance Programs, and the Health Information Technology for Economic and Clinical Health Act or HITECH Act are some of the changes that physicians have to deal with to ensure compliance and payment. OSI offers comprehensive medical billing and coding services that keep up with these changes, helping healthcare practice minimize claim rejections and maximize reimbursement.

The medical billing and coding solutions offered include:

  • Enrollment into the Billing System
    • Demographic information
    • Insurance information
  • Verification
    • Insurance verifications
    • Authorizations
  • Coding
  • Billing and Reconciling of Accounts
    • Charge entry
    • Cash posting
    • Reconciliation
  • Accounts Receivable Collections
    • Insurance collection
    • Patient collection
    • AR follow up and collections

OSI ensures compliance in the various steps associated with claim submission and payment:

  • Claims are submitted in a timely manner to comply with state and or federal insurance laws and the health insurance company’s regulations
  • Claim submission is performed only after verification of the patient’s health benefits
  • All claims are scrubbed before submission

Submitted claims are subject to rigorous follow-up. A major problem that most medical facilities face relates to management of their Accounts Receivable (AR). OSI carries out research on claims denied by the carriers, rejections received from the clearing house, and low payments by carriers. If a claim is rejected and has to be resubmitted, an appeals process is initiated to recover payment in keeping with industry and payer regulations. The end result of its comprehensive AR management is reduction in unpaid or underpaid claims.

As a leader in the field of medical coding and billing, OSI has a team of trained and experienced billing specialists, coders, and other personnel who have extensive experience in the field and can provide accurate results. They can provide billing solutions for most medical specialties.

This company’s services offer many key benefits such as customized billing procedures, regular quality checking, system-based eligibility checking, system-based claim scrubbing before it goes out, quarterly coding updates, monthly customizable reports, and weekly meetings. Clients do not have to sign a long-term contract. Outsourcing to OSI also helps clients save up to 30-40% on their billing costs.

Healthcare facilities can also benefit from a Free Billing Analysis of their current billing performance at OSI. The service covers aspects such as organization and management, outstanding claims, financial performance, and work flow.

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