More Related Content More from Jessica Parker (20) Outsource Ob / Gyn Billing and Increase your Revenue1. Call now 888-357-3226 (Toll Free)
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Outsource Ob / Gyn Billing and Increase your Revenue
With the transition to ICD-10, medical specialties including Ob / Gyn will need to deal with various
changes in the diagnosis codes. The providers will be required to incorporate ICD-10-CM information
in their documentation and also avoid compliance challenges.
Increasing number of physician practices and hospitals are now looking for end-to-end billing
solutions for a steady income
According to a survey conducted by the Black Book, around 71% of hospitals are expected to
outsource their coding and clinical documentation tasks by October 01, 2015
According to the MicroMarket Monitor report, the RCM outsourcing trend will pick up pace in
the coming months as financially struggling providers will look for a way to improve their
quality of care, reduce costs and stay in business
Are your Billers Aware of the Coding Updates?
The American Medical Association (AMA) released 335 changes to its CPT code set in 2014. This
included several code additions, for example the Category III code 0336T is a new code for
laparoscopy, albaltion of uterine fibroids including intraoperative ultrasound monitoring and
guidance, radiofrequency has been added to the ASC Medicare List for 2014 with $4671 as the
average Medicare payment.
If the in-house billing department is not abreast with the coding updates, it will lead to claim denials
and disruptions in cash flow. Ob / Gyn specialists will need to invest sufficient time in documentation
because incomplete information will lead to lost revenue.
What kind of Billing Team do you Need?
Ob / Gyn practices require a medical billing team that works closely with the providers, ensuring
error-free claim submissions and timely follow-ups with the insurance companies for
reimbursements or accounts receivables. Considering the constant changes in terms of new
procedures and technologies, the Ob / Gyn specialists require billers and coders who are familiar with
the terminologies and the procedures used.
Is your Billing Department Performing?
It is necessary that the providers ask for insurance aging reports on a monthly basis from their billing
department. These reports will help them understand how long the claims are taking to get paid. Just
because a practice is getting paid regularly it doesn’t mean the billing department has managed to
collect maximum payments.
2. Call now 888-357-3226 (Toll Free)
info@medicalbillers.com
www.medicalbillersandcoders.com
Copyright ©-2014 MBC. All Rights Reserved2
Why is Outsourcing an Effective Solution?
The demand for end-to-end billing solutions is growing. Providers are outsourcing their billing and
coding to a reliable vendor in order to increase their practice income, decrease the rate of claim
denials, comply with the healthcare reforms, avoid the cost of hiring and training staff, and reduce the
expense of updating their IT system.
Many Ob / Gyn practices across the US have realized the benefits of partnering with a medical billing
company to ensure timely payments. Companies like MedicalBillersandCoders.com have helped
financially struggling Ob / Gyn practices to thrive and not just survive.
By outsourcing Ob / Gyn billing needs to a company like MBC, providers can focus on the
documentation requirements and patient care. They can be assured that a dedicated team is handling
every single aspect of claim submissions to obtain maximum payment from the insurance companies.
Many CFOs who opted to outsource their RCM said the practice would have been on the verge of
bankruptcy in the coming years if outsourced services were not implemented immediately.