A recent change to the American Medical Association’s annual National Insurer Report Card reveals a growing burden that physicians face when it comes to getting reimbursed. The 2013 report showed that patients are responsible for nearly a quarter of their medical bills overall and that physician practices are not good at chasing these bills. Moreover, it also revealed that duplicative, inaccurate and delayed claims submission is affecting the revenues of physician practices to a great extent.
Outsource Strategies International (OSI) has announced that its professional medical billing services can overcome all these issues. Based in Tulsa, Oklahoma, this reliable medical billing and coding company expertly manages every aspect of the medical billing/patient cycle and helps its clients to manage their revenue cycle better.
At OSI, everything is done with great attention to detail, ensuring that clients receive maximum benefit from its medical billing and coding services. OSI has a team of skilled and experienced billing specialists, coders, and other service personnel with vast experience in the field. This comprehensive medical billing service, available for all medical specialties, includes enrollment into the billing system, insurance verifications and authorizations, coding services, and billing and reconciling of accounts, charge entry, cash posting and reconciliation. Services are also provided for Accounts Receivable collections such as insurance collection, patient collection, and AR follow up and collection.
OSI’s charge capture services include review of all charges for completeness and accuracy as well as daily charge entry. Claims are scrubbed and double checked for patient information, code accuracy and more, before submission. Each EOB (Explanation of Benefits) is carefully reviewed for proper payment specific to provider contracts. Secondary balances and patient responsibility are identified and the responsible party is billed accordingly.
The insurance verification services that OSI provides helps to determine patient benefits as well as the patient’s payment responsibility prior to treatment. OSI also provides patient responsibility follow up management services. A total of three patients statements are sent out. In addition, payments are followed up with patients a demand letter and phone calls. Payment plans are set up in collaboration with patients if necessary.
According to the American Medical Association, physician practices waste up to $14,600 each year on reworked claims through phone calls, investigative work and claims appeals. OSI medical billing solutions are specifically designed to help physicians avoid these problems.
OSI focuses on every aspect of medical billing. Clients are offered the option of web-based or hosted medical billing software. Strict compliance with HIPAA guidelines ensures security of client data. Other specific benefits of partnering with OSI are
- Customized billing procedures and monthly reports
- Quarterly coding updates
- Regular quality checks
- Client connectivity to software all the time
- No long-term yearly contracts
Clients can also request a free billing analysis or get answers to all their medical billing queries by calling the company’s toll-free number. Customer support is available round-the-clock on all days of the week.
The medical billing services provided by this established healthcare business process outsourcing company is helping its clients to save as much as 30-40% on their overhead.