Outsourcing medical billing enables you to improve the billing process capture reimbursements more efficiently for better medical billing collections rates. https://www.mgsionline.com/medical-billing-and-collections.html

1. How To Improve
Medical Billing
Collections For
Your Practice?
Tips to improve medical billing collections

2. ● Getting due payment or reimbursement without any shortfalls is a primary
focus for any Physician or Medical Practice. However real-time scenarios can
give a different picture with reasons such as low paid, rejections, denials and
payment delays.
● While getting 100% timely payment for all claims processed might seem
impractical, working towards achieving maximum reimbursement within the
turnaround time (TAT) and assuring internal quality standards are getting
affected should help keep your practice financially evergreen.
● Discussed below are few points to Improve and standardize Medical Billing
Collection.

3. Listed below are the benefits for
effective RCM Service:
• Reduced Denials and Maximize Collections
• Faster claims processing and regular cash flow
• Effective AR follow up and Denial management to
ensure payment dues are collected with TAT
• Software and specialty-based expertise enhancing
business growth
• Standardization of complete process and set up
resulting in maximum ROI
• Streamline process approach fetching Quality and
seamless billing functions across all scopes.

4. Insurance
Eligibility
Verification
This process helps eradicate maximum
errors causing denials as it does complete
verification of the patient personal and
insurance information checking out for
accuracy and completeness and correcting
them.

5. Billing and
Coding Audit
• Internal audits help maintain the quality
percentage and standardization.
Auditing Medical Billing and Coding files
consistently tracks recurrent denials
reasons, and aid curbs them at once.
• Claim audit is the best solution to fix
claim denials

6. AR Follow-up and
Denial Management
Tracking claim denials and focusing
on immediate steps to check out
denial reasons, corrections and re-
appeal within the timely filing limit
are mandatory to ensure payment
due is collected on time.

7. Experienced
Billing and
Coding Staff
●Having an experienced and efficient
billing and coding team indirectly reflects in
increased quality and reduced denials.
● Billers and coders who are well versed
with related guidelines and client-specific
protocols can produce cleaner claims and
quality billing.
●Therefore have a strong and established
team is essential for any practice and
billing process.

8. Outsourcing
RCM Process
•Current trend of increase in Outsourcing
Billing is proof that Outsourced Billing
Services are comparatively more
productive and profitable.
•Benefits of Outsourcing your Medical
Billing and Coding to a Billing expert can
fetch better financial performance under
control operational cost.

9. About
MGSI
•MGSI – National Medical Billing Company located
in Tampa, FL has been providing complete Revenue
Cycle Management Solutions for more than 25
years.
•MGSI is a multi-specialty Medical Billing Company
providing ceaseless Billing Services to Physicians,
Practices and Medical Groups.
•Partnering with MGSI guarantees a 95% first-pass
rate with 96% claims paid within 30 days.

10. CREDITS: This presentation template was
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and infographics & images by Freepik
Do you have any questions?
mgsionline@gmail.com
+1 877-896-6474
Mgsionline.com
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