#MedicalBillingServicesinNewYork

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Call the experts of 24/7 Medical Billing Services at +1 888-502-0537 to know about ASC billing and coding to ensure 100% payment.

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Let 24/7 Medical Billing Services help you with the AI-powered technology for your mental health practice if you’re worried about your revenue.

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Are you looking for availing the benefits of Outsource Medical Billing for Physicians? Call the 24/7 Medical Billing Services experts.

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Medical Facilities are different in implementing operations, you can leverage the professionals in outsourcing medical billing services

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Read this a detailed guide on medical billing outsourcing . Connect with our experts at +1 888-502-0537 to know more about it.

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Read this a detailed guide on medical billing outsourcing . Connect with our experts at +1 888-502-0537 to know more about it.

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Reason You Need an A/R Expert For Your Practice

Keeping up and incorporating the changes is as essential as keeping a tab on the practice’s performance, especially on the revenue cycle. Running a financially healthy healthcare unit amidst all the healthcare regulatory changes that take place regularly is an arduous task. Your accounts receivable (AR) health shows whether or not you are covering up for your expenses and for the services you rendered.

Although most medical practices conduct a yearly AR report, we at 24/7MBS believe a monthly report goes a long way in having superior control over the revenue cycle management (RCM). A poor accounts receivable status can lead to serious depletion of revenue.

The following are some collection metrics from our experts to help you monitor your AR health.

·         Accounts Receivable Monitoring Metrics.

There are many metrics that can be used to monitor a practice’s performance and AR status but these are amongst the easiest ones and helpful too. Incorporate these in order to have a firm grip over your AR and you will see a remarkable difference in your RCM.

·         Average Days Delinquent (ADD) / Average Days

The average AR days are a crucial indicator as it indicates the number of days your claim in lying unpaid. Being aware of the number will help you streamline the medical billing process and try to lower the days. The more time claims lie around in the payer’s office; it is likely to go unpaid.

·         Days Sales Outstanding / Aging AR

Aging report reveals the amount your practice is due to get from your payers. Lower the AR age, higher the chances of getting reimbursed. Thus, it is imperative to try to maintain the bucket within 30 of the 30/60/90/120 brackets. A quarterly analysis report can help to a great extent.

·         Patient AR

Since the majority of payment is made by the primary and secondary payers, monitoring the patient AR takes a back seat. Nevertheless, it does form an essential part of your income as well as to know your patient better. A patient with bad payment or credit record can be dealt differently.

·         Rejection Statistics

Claims that pass through the scrubbers can be rejected by certain payers for various reasons including silly mistakes and compliance issues. Working on the rejections is double work so, it is necessary to know the common reasons behind them and work on them at the source itself.

·         Denials Percentage

Denials are nothing but major time consumers that demands immediate attention for appealing and it also takes your in-house team days to follow up on it. Physicians can’t afford to run behind denials because it hampers the fresh inflow of money too due to administrative reasons. The percentage of denials can be reduced if the reasons for rejection are known and rectified.

·         Payers Analysis

Every payer has a peculiarity or pattern in reimbursing typical kinds of claims given the percentage of coverage and insurance policies of patients. Noting the trend and issues you face with them can drastically increase the chances of improvement in filing claims according to their convenience. Insurance companies have a lot to cater to, why not help yourself by assisting them with the appropriately filed claims?

 To Know More About@ http://bit.ly/2EIqGRN

 About 247 Medical Billing Services:

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 doctors to attract additional revenue and reduce administrative burden or losses. Contact:  247 Medical Billing Services Tel: +1 888-502-0537 Email: info@247medicalbillingservices.com

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Six Fundamental Revenue Cycle Management Metrics

For many healthcare providers, maintaining optimal cash flow and improving payment collection has become a challenge. They are losing money due to lack of rigorous and regular monitoring of their revenue cycles. 

Mentioned-below are six key revenue cycle performance metrics that should be discussed and analysed monthly by practices:

Number     of days in A/R. This is one of     the most important metrics that helps in understanding the efficiency of     the current revenue cycle. Calculating the total number of days in A/R     lets a provider know how many days it takes for a debt to be     cleared. 

Formula: 

(Total current receivables - credits) ÷ (Average daily net patient revenue)

Average daily charge amount can be calculated by dividing 3 months of net charge by 90 days.

Monitoring     percentage of A/R over 90 days. With     this metric, providers can evaluate the amount of claims left to be     collected, which are over 90 days old. An amount greater than 20% of total     A/R     indicates issues in account management. 

Formula: 

(Net amount of A/R>90 days) ÷ (Amount of total A/R)

Net     collection rate. This indicates     how efficiently a practice collects reimbursements. A collection rate     higher than 95% is satisfactory, however a healthcare organisation should     aim for 98.5 - 99% rate.

Formula: 

(Total Payments - Refunds) ÷ (Total Charges - Contractual Adjustments)

Net collection charge changes with the change in adjustments, charges, and payments.

Claim     denial rate. This indicator     is also a part of claim denials management. Denial rate is the percentage     of claims denied by the payers. A denial rate higher than 10% is     considered poor, and requires proper evaluation.

Formula: 

(Total amount of claims denied) ÷ (Total amount of claims remitted)

  First     pass recovery rate. This indicates     how much amount your hospital receives in full payment for claims     submitted the first time. A recovery rate of 80% or high is a positive     sign.

Cost     of collection. As an     organisation, providers are spending on their facility, internal staffs,     and vendors to maximise their collection rate. Collection cost helps them     understand how much they are spending on their collection team, and how     efficient and profitable they are for their organisation.

Formula: 

(Net A/R) ÷ (Average daily net patient service revenue)

Regular assessment of these metrics will lead to improved revenue cycle performance. It will also help healthcare providers effectively assess the financial strength of their practice and boost revenue. 

About 247 Medical Billing Services:

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. Contact:  247 Medical Billing Services Tel: +1 888-502-0537 Email: info@247medicalbillingservices.com

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Looking For Reliable Physician In South Carolina

Physicians can enhance the efficiency of their clinical operations by employing PAs. Since providers across the US are overworked and under the pressure of handling increased patient loads, they can always benefit from more clinical support.

 Did you know, in the Patient Protection and Affordable Care Act, Congress has recognized PAs (Physician Assistants) as one of the healthcare professions in primary care. Due to the general medical background, PAs are quite responsive to the changing healthcare needs. From primary care to surgery, they are uniquely suited to provide preventive care service in all types of medical settings. Since they work in concert with physicians, it becomes easier to deliver comprehensive range of medical services to a diverse population of patients.

 PAs and nurse practitioners are in high demand due to the increasing shortage of physicians. Here is what practices can expect from physician assistants:

·       PAs are experts at diagnosing patients’ illnesses and injuries. They can also perform physical examinations and provide treatment plans to the patients. At times, PAs also provide services that doctors provide but under the supervision of one or more physicians. Since PAs have advanced education and credentials, they are able to offer good assistance to physicians.

·       PAs are not only being hired to reduce workload of physicians but also for counteracting physician shortage. It is being expected that US healthcare industry will face a physician shortage of approximately 90,000 by 2020 and 130,000 by 2025. To help alleviate the shortage, PAs are in high demand. Currently, there is approximately 1 PA for every 10 physicians in clinical practice. 

·       Paperwork burden is causing trouble for physicians. Since documentation is a critical portion of patient encounters, physician can’t overlook the same. But by hiring PAs, they can certainly reduce the burden of handling paperwork and documentation, including insurance forms, prescriptions, refills, notes, medical record updates and so on.

·       By hiring physician assistants, providers can also increase their income and number of patients they see on a daily basis. Physicians can accommodate more patients in a day if expert PAs are handing routine treatment plans and completing time-consuming paperwork.

Since running a healthcare practice is all about delivering quality care and improving patient experience, hiring a physician assistant can bring lots of benefits for practices. Physicians will be able to give more time to patients since other vital tasks will be handled by the PAs.

 To Know More About@ http://bit.ly/2TK3xUj

 About 247 Medical Billing Services:

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. Contact:  247 Medical Billing Services Tel: +1 888-502-0537 Email: info@247medicalbillingservices.com

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How To Find Reliable Wound Care Billing Services In USA?

We have got ample of experience with good and trained staffs for making your medical care industry get hiked in income as well as in billing sector. We make no mistakes since we are giving you the best quality software. Your clients are our clients and we see no differences in serving for their good sake.

Take your medical care billing services to next level:

A medical care industry must have best billing services to stand for long times. If there are no proper medical billing services then chances for getting low profile which may affect the name of the medical industry. So the medical industry must give on some good note with many of the medical industries which are available in market for any services like Wound care billing services. Even mistakes happening for outpatients in wound care billing can lead the medical industry to lots of issues. To avoid that and make your concern receive more income, choose our services that are in the market for more than 10 years.

Why is wound care so important?

Wound care billing can also increase the income of medical care industry when it is performed for high levels of wounds. There are some points which will get better reimbursements from insurance providers even for wounds. 

Those points are listed below:

· Wounds with high level of cleaning

· Clearing off the objects like metals, stone from wounds

· Deep cuts needs perfect cleaning

· Removing the necrotic tissue from the wound

· Giving little amount of anesthesia for cleaning the wounds

The above listed services are eligible for getting reimbursements from insurance providers without any issues. Any wound which needs proper dressing should be cleaned perfectly to make it heal faster.

  Why choose us?

1.       We provide 100% HIPAA complaint

2.       We help our clients at any time

3.       We give instant AR follow up

4.       Anytime help facilities in tech issues

5.       Coding are performed by experts

6.       No chance for denials

7.       No lead for any kinds of rejections

8.       More than 10 years of experience

9.       Innovative billing solutions

10.   One of the best prices is provided by us

These are just some of the best prices which are provided by us. Feel free to get connected with our billing services. We even take photographs of wounds to ensure perfect reimbursements and to maintain good Revenue Cycle Management.

  CPT code for anesthesia

Some of the wounds will cause too much of pains while dressing which becomes intolerable for many patients. In that case CPT code 97597 or 97598 is used. On using this for reimbursements there are no chances for denials for wound cares. We give particular support for treating wounds and recovering it in short time.

  Software specialty

We use better softwares for making better services. Some of the softwares which we use are

·         Advanced MD

·         Health fusion

·         All scripts PM

·         Kareo

·         Athena collector

·         Nextgen

·         Bright tree

·         Medisoft

·         Neu MD

·         Epic

These are some of the softwares which we are using in our billing services.

  Safest records

We provide better data security and electronic health records of patients. Every record can be accessed from online. The software which we provide has got username and password for protection. The entire patient record will be kept safe in our data security.

 To Know More About@ http://bit.ly/2PbFdHr

 About 247 Medical Billing Services:

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. Contact:  247 Medical Billing Services Tel: +1 888-502-0537 Email: info@247medicalbillingservices.com

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How To Find Reliable Urology Billing Services In Pennsylvania?

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Perks of Reviewing A/R On a Regular Basis

It is very important for medical practices to assess the efficiency of their revenue cycle management practices on a regular basis. Reviewing of A/R is required for the bigger picture assessment of the practices’ financial health. According to the industry experts, this evaluation needs to be done almost every month or every 3 or 6 months. The more frequently the review is done, the better it is for the practice.

According to the CMS (Centre for Medicare and Medicaid Services), only 70% claims get paid the first time they are submitted. Approximately 30% claims are either denied, lost or ignored. That’s a lot of money left on the table. By minimizing accounts’ days in A/R, medical practices can improve their bottom line because they will be collecting everything they have earned.

 Here are some of the benefits of reviewing A/R on a regular basis for your practice:

It will help in ensuring the financial stability of your practice that is dependent on maintaining a positive cash flow. To cover expenses, there is a need to maintain steady flow of revenue and the A/R team will help in ensuring the same.

Timely reviewing will help in recovering payments that are overdue and also minimize time for outstanding accounts. With regular A/R reviewing, claims will never go missing. When claims are not received, payments get delayed. But if claims have been followed-up and you know that the claims haven’t been received, then it will be easier to send another request.

 Perks of Having an A/R Team

Practices need to have an A/R team for looking after denied claims. This team will be responsible for reopening the denied claims to help practices receive maximum reimbursement from insurance companies.

Ideally, there are two departments in an A/R team:

·        A/R analytics

·        A/R follow-up.

There are mainly three stages in medical billing A/R follow-up procedure- initial evaluation, analysis and prioritizing and collection. Under initial evaluation, claims listed on the A/R aging report are identified and analysed. The claims are then prioritised and third stage involves collection.  

Another way of reclaiming the missing funds is to simplify and automate the process of revenue cycle management. With the help of new technologies such as, patient portals, EHR and practice management systems, practices become enabled to cut operating costs and deliver quality care.

 To Know More About@ http://bit.ly/2RfvxgF

 About 247 Medical Billing Services:

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. Contact:  247 Medical Billing Services Tel: +1 888-502-0537 Email: info@247medicalbillingservices.com

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Pain Management Billing Services: Growth with Global Industry Analysis

People undergo pain which is in the rate of unbearable levels. Such level of unbearable pains needs some of the doctor supervision which will come under billing services. With some of the perfect levels of billing your medical industry has got the whole right to increase revenue cycle. The revenue cycle can be easily increased when you are getting connected with best services from our billing industry. We treat your clients as our clients which makes your medical industry to gain profit in short span.

New implementations on ICD-10

We have implemented the newly improved ICD-10 coding in our Pain management billing services which gives clear and cut right bills without any mistakes or denials. Our service has got best performances and happy clients throughout the world. Some of the codes which we are using in our billing services are

We have new set of codes from CPT codes 64400- 64530 which will claim reimbursement for any kind of pain management services. The codes are given for nerve pains in each patient. The level of pain is measured by the term of Unit OF Service (UOS) and the reimbursements are based on the severity of pains. For instance, patient “x” gets pain and patient “y” get high level of pain. Who spends more money? It is definitely patient “y”. To get the real amount which he is spending for medical expenses, there must be level for measuring pain which is used in UOS. This UOS helps in effective way to provide income to medical industry.

  ·        Code 64445

This code is for injection injected in sciatic nerve as an anesthetic agent for single.

·        Code 64450

This code is for injection injected in peripheral nerve as an anesthetic agent for single.

 These are just some of the codes which we are using. The codes will even clearly specific which nerve is getting injected.

Such kinds of codes are implemented in our high level of software to make our clients get satisfaction in billing process. Because of such careful usage of codes, there are no chances for errors in our billing services. We work on client satisfaction and we assure to improve your financial income by 10 or 20% after getting services from us.

  Why choose us?

·         Our entire billing is based on reducing the papers

·         We are best in saving data using electronic ways

·         We have secured username and password for our software

·         The password can be changed in needed times

·         Software can be connected in online via internet

·         Safest software for billing services

·         More than 12 years of experts

·         Right code for billing

·         Transparency in billing services

  Hands on experts

We have more than 12 years of services in same medical billing industry which has created the best experts for various purposes like skilled software testing, accounting and many other issues. We provide help support for 24*7 which will help your medical industry to clear any doubts without the measure of time.

 To Know More About@ http://bit.ly/2zsUHl6

 About 247 Medical Billing Services:

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. Contact:  247 Medical Billing Services Tel: +1 888-502-0537 Email: info@247medicalbillingservices.com

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Benefits of Improving Appointment Scheduling For Patients | 247 Medical Billing Services

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How Can Your Back Office Staff Help With Accurate Medical Billing Services?

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Should Doctors Hire Physician Assistants (PA) To Reduce Workload?

Did you know, in the Patient Protection and Affordable Care Act, Congress has recognized PAs (Physician Assistants) as one of the three healthcare professions in primary care. Due to the general medical background, PAs are quite responsive to the changing healthcare needs. From primary care to surgery, they are uniquely suited to provide preventive care service in all types of medical settings. Since they work in concert with physicians, it becomes easier to deliver comprehensive range of medical services to a diverse population of patients.

Physicians can enhance the efficiency of their clinical operations by employing PAs. Since providers across the US are overworked and under the pressure of handling increased patient loads, they can always benefit from more clinical support.

PAs and nurse practitioners are in high demand due to the increasing shortage of physicians. Here is what practices can expect from physician assistants:

PAs are experts at diagnosing patients’ illnesses and injuries. They can also perform physical examinations and provide treatment plans to the patients. At times, PAs also provide services that doctors provide but under the supervision of one or more physicians. Since PAs have advanced education and credentials, they are able to offer good assistance to physicians.

PAs are not only being hired to reduce workload of physicians but also for counteracting physician shortage. It is being expected that US healthcare industry will face a physician shortage of approximately 90,000 by 2020 and 130,000 by 2025. To help alleviate the shortage, PAs are in high demand. Currently, there is approximately 1 PA for every 10 physicians in clinical practice. 

Paperwork burden is causing trouble for physicians. Since documentation is a critical portion of patient encounters, physician can’t overlook the same. But by hiring PAs, they can certainly reduce the burden of handling paperwork and documentation, including insurance forms, prescriptions, refills, notes, medical record updates and so on.

By hiring physician assistants, providers can also increase their income and number of patients they see on a daily basis. Physicians can accommodate more patients in a day if expert PAs are handing routine treatment plans and completing time-consuming paperwork.

Since running a healthcare practice is all about delivering quality care and improving patient experience, hiring a physician assistant can bring lots of benefits for practices. Physicians will be able to give more time to patients since other vital tasks will be handled by the PAs.

To Know More About@ http://bit.ly/2TK3xUj

About 247 Medical Billing Services:

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. Contact:  247 Medical Billing Services Tel: +1 888-502-0537 Email: info@247medicalbillingservices.com