Clinical reporting challenges can make in-house medical billing a Herculean, resource consuming task for healthcare practices and increase the risk of rejected and unpaid claims. Medical billing outsourcing can help resolve these issues.
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How to Manage Clinical Reporting and Patient Debt Challenge in Medical Billing
1. How to Manage Clinical Reporting
and Patient Debt Challenges in
Medical Billing
Clinical reporting challenges can make in-house
medical billing a Herculean, resource
consuming task for healthcare practices and
increase the risk of rejected and unpaid
claims. Medical billing outsourcing can help
resolve these issues.
Tel: (800) 670 2809 Fax: (877) 835-5442 Website: www.outsourcestrategies.com
2. The demand for medical billing outsourcing is
growing. With the increasing rate of treatment
need, physician practices are already busy
places. Having an in-house team to perform
billing and coding tasks can prove quite
expensive and resource consuming. Medical
billing outsourcing can help healthcare practices
manage their claims processes and get the
reimbursements they are entitled to, while they
focus on enhancing the quality of care.
Changing clinical reporting practices cause
inconvenience to healthcare providers,
particularly when the healthcare industry is
moving towards result-based payments. The
EMR software is a positive step though, and
most practices have implemented it or are
moving in that direction. It has helped bring
down documentation and clinical errors, and
thereby bring down the number of rejected
claims.
It is important to have a good billing team that
would always update itself on rule changes and
adaptations to insurance payment laws. It would
help handle claim submissions efficiently. The
billing team can also keep generating more
efficient processes and methods of successful
claim filing. A professional medical billing
company does just that with its team of trained
and experienced billing professionals.
The Menace of Patient Debts
The Challenge with Clinical Reporting
With insurance claims, maximum
reimbursement must be ensured. Claims must
be processed quickly and accurately. If a claim
form is incomplete or inaccurate, payment will
be delayed.
Patient debts need to be controlled. Some
healthcare practices carry out the practice of
grouping accounts belonging to a specific time
period to bill them. There are various follow-up
methodologies that are made based on the debt
value and the time from when the debt has been
outstanding.
An account being unpaid for more than four
months is an indication that a mistake has
probably been made by the insurance company.
According to industry experts, nearly 19% of
denied claims are caused by an insurance
providerβs mistake. For most providers, more
than 10% of debts extend to more than four
months, after which they end up written off and
not paid.
Professional medical billing services are
aggressive about getting debts recovered. They
end up being successful where in-house
healthcare practicesβ billing teams do not
succeed. Shorter billing cycles and higher
revenues are the expected results of outsourcing
to an efficient medical billing company.
3. Professional Medical Billing Services
An efficient medical billing and coding
company will offer the following billing
solutions:
ο Patient Scheduling and Reminders
ο Patient Enrollment
ο Insurance Enrollment
ο Insurance Verification
ο Insurance Authorizations
ο Coding and Audits
ο Billing and Reconciling of Accounts
ο Account Analysis and Denial Management
ο AR Management
ο Financial Management Reporting
The comprehensive medical coding solutions the
company provides will generally comprise
ο Hospital / in-patient coding
ο Emergency room e-code evaluation
ο Medical coding audits
ο Backlog coding resolution services
ο DRG/ICD-9-CM coding validations
ο CPT medical coding
ο ASCs β Ambulatory Surgical Centers Coding
ο ICD-9 coding based on AMA and CMS
guidelines
Outsourcing to a medical billing and coding
company can help healthcare providers save
time, reduce overhead and increase collections
and get their rightful payment from the
insurance carrier. They can focus more on
taking care of their patients, fully confident that
their medical billing company will help them get
reimbursed for the services they have provided.
Contact Information
Headquarters:
8596 E. 101st Street, Suite H
Tulsa, OK 74133
Main: (800) 670 2809
Fax: (877) 835-5442
E-mail: info@managedoutsource.com
Website: www.outsourcestrategies.com