Reasons why doctors and physicians outsource medical coding and billing

744 views

Published on

Medical coding and billing is a responsibility involving technical expertise and high-tech software solutions. Outsourcing this can prevent errors which could lead to low and inadequate payments.

Published in: Business, Economy & Finance
  • Be the first to comment

Reasons why doctors and physicians outsource medical coding and billing

  1. 1. Outsource strategies International Call: (800) 670 2809 Reasons Why Doctors and Physicians Outsource Medical Coding and BillingThe reasons why doctors and physicians outsource medical coding andbilling are mainly to ensure efficiency in the billing and coding process andthereby secure the full due amount from the insurance company for thetreatment they offer. It also helps them streamline their functioning andthereby increase performance.Medical billing and coding services includesubmission of medical claims to insurancecompanies. On the successful submission ofclaims depends the payment which healthcareproviders should receive for the services theyprovide to the patients. This is therefore a veryimportant responsibility for doctors andhealthcare institutions.Complexity of the Task Demands Expert AssistanceBut this is also a complex task requiring specialized knowledge and with apotential for errors resulting in nonpayment by the insurance provider. Infact, many millions of dollars are lost in the healthcare sector every year dueto errors in medical coding and billing.Some of the commonly quoted issues are under coding, under pricing, un-reimbursed claims and missed charges. These errors give insurancecompanies the opportunity to deny claims or make you settle for a partialreimbursement. Many a time around 50% of claims are denied or rejected Medical Billing and Coding
  2. 2. Outsource strategies International Call: (800) 670 2809and around 25% of chart audits are found to have errors in coding whichbring about nonpayment.Since medical coding and billing demands expertise and has such a potentialfor errors, healthcare providers can reduce the strain on themselves andincrease efficiency in their core tasks by outsourcing billing and coding toreliable medical billing companies. The medical billing company offerscomprehensive billing and coding services.Billing and Coding Services OfferedThe medical billing services generally include: • Patient Scheduling and Reminders • Patient Enrollment • Insurance Enrollment • Insurance Verification • Insurance Authorizations • Coding and Audits • Payment Posting • Account Analysis and Denial Management • AR Management • Financial Management ReportingMedical coding services also include the following aspects: • Hospital / in-patient coding • Emergency room e-code evaluation • Medical coding audits Medical Billing and Coding
  3. 3. Outsource strategies International Call: (800) 670 2809 • Backlog coding resolution services • DRG/ICD-9-CM coding validations • CPT medical coding • Ambulatory Surgical Centers Coding • ICD-9 coding based on AMA and CMS guidelinesAdvantages of Outsourcing Coding and BillingSince billing and coding are all conducted electronically, more innovativetechnology and better medical billing software can ensure betterperformance. • The medical billing company employs state-of-the-art software and hardware solutions that ensure precise medical coding and billing and also quick turnaround of the work. • There are always changes in regulation and technology in this field and a reliable billing company keeps tabs on these changes and updates them, which is evident in the quality of their outsourcing solutions. • The company is also flexible enough to meet the requirements of client doctors and healthcare institutions, which makes these services cost-effective and able to be easily integrated into the functioning process of the client practice. Medical Billing and Coding
  4. 4. Outsource strategies International Call: (800) 670 2809These are the reasons why doctors and physicians outsource medical codingand billing – it ensures they no longer lose precious money through faultybilling and coding. MOS Outsource strategies International 8596 E. 101st Street, Suite H Contact details Tulsa, OK 74133 Phone: (800) 670 2809 URL: http://www.outsourcestrategies.com/ Medical Billing and Coding

×