Can a Billing Partner Help Improve Your Revenue Increasing the number of new patients while retaining current patients is vital to the success of any physician's practice. But, unless that practice receives steady, profitable cash flows throughout most...

1. Can Billing Partner Help
Improve Your Revenue
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1- 844-666-4631

2. Increasing the number of new patients while retaining current patients is vital to the success of
any physician’s practice. But, unless that practice receives steady, profitable cash flows
throughout most revenue cycles, they may be unable to stay operational.
Even before the COVID-19 pandemic, the dilemma of whether to do in-house medical billing or
outsource medical billing beleaguered many physician-owned practices. Now that the
healthcare industry is inundated with COVID patients and people suffering long-COVID
symptoms, physicians are discovering the numerous benefits of relying on billing partners.
According to Grand View Research, the medical billing partner market is expected to exceed
$19 billion by 2026. That’s a nearly 12 percent annual growth rate!

3. How Can a Billing Partner Improve Medical Revenue?
Ensures Accurately Coded Claims
What is fueling this rush by physicians to find the best medical billing partner they can depend on for
superior service? One of the leading reasons behind the skyrocketing billing partner market involves
the necessity for filing claims correctly. Unless claims are coded accurately and error-free, they will
be returned and the physician will suffer an interruption in cash flow.
An estimated 80 percent of medical claims and billing documents contain at least one error that
prevents physicians, clinics and hospitals from getting paid. With over 80,000 diagnostic and
procedure codes to comb through, medical assistants and physician staff simply don’t have the time
to consistently submit 100 percent accurate claims. Unfortunately, the cycle of submitting claims,
getting back rejected claims, finding and fixing errors and resubmitting them can force providers to
wait for months before receiving payment.
A professional medical billing partner provides trained, knowledgeable billing and coding specialists
who’s job is to do one thing: submit correct claims the first time. This allows physicians and their staff
to focus solely on patients and running the office as efficiently as possible.

4. Handles the Collections Process
One of the most time-consuming tasks of a physician’s practice is collecting past due payments. Doctors can
tell you from experience that simply sending past due notices is ineffective for settling a past due bill.
Moreover, when doctors decide to sell a debt to a collection agency, they lose most of that revenue.
Medical Billing Service partners take care of collecting past due payments. They employ individuals who
options available, such as reserialize in collecting debts by working one-on-one with patients, verifying
addresses of patients who have moved and informing patients of payment di cards, other types of insurance
or local social agencies.
Increases Revenue by Adhering to Insurance Regulations
Major insurance companies, including Medicaid and Medicare, are constantly changing guidelines regarding
what treatments they cover, patient eligibility and how much they will pay for certain procedures. Trying to
keep up with the constant deluge of modifications to insurance rules is literally a full-time job that a busy
physician’s office finds difficult to manage properly.
A medical billing partner stays up-to-date in real time to changes made by health insurance companies. This
means claims won’t be rejected for including obsolete or incorrect data. In addition, many updated insurance
guidelines for Medicaid or Medicare come from changes made by the federal government. Continuous
noncompliance with federally mandated adjustments may result in losing compensation provided by
Medicaid and Medicare.

5. Is Outsourcing Medical Billing Right forYour Practice?
Consider the following summary of the benefits of hiring a medical billing partner:
 Significantly improves cash flow and revenue by eliminating costly errors and claim
 Reduces overhead expenses
 Less expensive than purchasing and constantly upgrading medical billing
collections nor handle problems best suited for human-to-human contact)
 Professional medical billing partners provide detailed monthly reports regarding claims
other important items
 Allows physicians and staff to spend more quality time with patients
 Ensures physician practices comply with ever-changing federal insurance regulations
Call today to learn more about how a medical billing partner can give the advantages you
need to make your practice a long-term success.

6. Thank You
www.omnimd.com sales@omnimd.com 1-844-666-4631