Optimizing your revenue cycle through proactive medical billing strategies can improve your medical practices financial health.

1. HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/
Optimizing Your Revenue Cycle: Strategies
For Proactive Medical Billing

2. Several elements of healthcare reform have evolved over time, including value-based
compensation models, recurring changes to the rule engine for medical billing services,
and other federal laws. In light of these continual changes, physicians must stay up to
date on the latest developments. As a result, they must receive ongoing training
in medical billing and coding rules. Staying outdated is a problem for medical
practitioners because they cannot compromise the quality of their professional services
due to income loss. To minimize this trouble, medical practitioners should implement the
proper tactics to stay in compliance with medical billing trends while also improving the
quality of care services. This blog will provide you with tried-and-true strategies for
optimizing proactive medical billing services in order to maximize revenue.
HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/
Optimizing Your Revenue Cycle: Strategies
For Proactive Medical Billing

3. Claim Management Process
According to a recent survey, about 80% of all medical bills involve errors. Because of
strict insurers policies, these inaccurate medical claims are denied and rejected.
Although medical billers can reapply these claims in order to challenge an unpaid bill.
The cycle of claim submission, rejection, and resubmission, on the other hand, takes a
long period.
Medical billers should build a proper claim management process in order to save
providers valuable time. They should deploy competent personnel and equipment to
monitor all paid and unpaid claims. To file accurate claims on the first try, use smart
medical billing software solutions. They should also make certain that accurate
information flows throughout the claim submission procedure.
Before filing claims, they should double-check the claims to identify any potential
information errors. This will ensure that payers and patients obtain clean claims that can
later be successfully reimbursed.
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4. Minimize Medical Coding Errors
Medical codes serve as the foundation for medical billing services. A medical bill’s
objective is to standardize medical care and diagnostic procedures into standard
medical coding protocols. For various medical operations, these medical codes are
categorized as CPT, ICD-10-CM, and HCPCS Level II categorization systems.
Although it is a common way of describing medical operations, errors can also arise in
this aspect. It contains the most common errors, such as erroneous, mismatched, or
missing codes, among others. These inaccuracies are easily detected by clearinghouses
and payers. However, some medical coding errors are highly intricate and result in
unfavorable outcomes.
For example, if medical coders utilize less detailed ICD-9 codes rather than extremely
specific ICD-10 codes, the claim will be denied or rejected. If medical coders employed
inappropriate modifiers, upcoding or undercoding, such errors can cause your claims to
be rejected or denied further down the road.
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5. Outsourcing – The Optimal Strategy!
Due to the ever-changing healthcare industry, coders and billers must constantly
upgrade their skills and concepts to keep on top of the changes and avoid losing money.
rejection and denial rate remains excessively high, with nearly half of denials never
being handled, resulting in a 5-7% loss of potential revenue. When you have a high
number of denials, your revenue can quickly become stuck in Accounts Receivable,
causing a significant impact on your cash flow. As a result, you can follow these
proactive strategies to make these simple modifications to your current medical billing
process and increase your revenue by 25-30%.
Else you can also outsource your medical billing services to the professionals who are
experts in following these proactive strategies. 24/7 Medical Billing Services is a
major medical billing service provider that has optimized the billing and collection
procedures for several practice’s, allowing them to maximize revenue and eliminate
cash flow problems.
HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/

6. About Us
HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/
We are a medical billing company that offers ‘24/7 Medical Billing
Services’ and support physicians, hospitals, medical institutions and
group practices with our end to end medical billing solutions. We help
you earn more revenue with our quick and affordable services. Our
customized Revenue Cycle Management (RCM) solutions allow
physicians to attract additional revenue and reduce administrative
burden or losses.

7. Contact Us
HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/
Media Contact:
24/7 Medical Billing Services
Ohio
28405 Osborn Road, Cleveland, OH 44140
Texas
2028 E Ben White Blvd, #240-1030 Austin TX, 78741
Phone no / Fax : +1 888-502-0537
Email us: info@247medicalbillingservices.com