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jennyvergeese · 6 years ago

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Why 90% Solo Practices Might Outsource Medical Billing Services?

The US healthcare industry is constantly at a state of reform, especially so from the time ICD-10 has been on the cards, i.e. from the year 2012. The original deadline was set for October, 01, 2013; however, it has been postponed yet again to October 01, 2015 now. Another major factor constituting the reform is the reimbursement trends from insurance companies and change in the payment schedule for physicians.

As the deadline to implement ICD-10 and the payment fee schedule 2015 approaches, solo physicians are contemplating to either sell off their practices or merge into a group practice to deal with the changes and the expected revenue loss. Reports are even rife of physicians considering premature retirement. Although a number of reasons can be attributed to the decision of US physicians going solo, the following are the predominant ones that are egging them to do so.

· ICD-10 and Compliance Reform Issues

The implementation of the new coding standard is causing apprehensions among the physicians but more so to the individual practitioners. The reason behind this is increase in work load that consists of administrative tasks, billing routine, paper work, etc. as cited in multiple reports.

· Less Individual Patient Time

The quality of service is expected to take a beating because the physicians are going to remain busy in the above mentioned chores and as a result they will have less time for each patient. Statistics reveal that usually physicians spend around only eight minutes with each patient. This is also a reason for reduced patient satisfaction.

· Payment Restructuring

The Medicare physician fee schedule (MPFS) is undergoing a major shift from the fee-for-service (FFS) model to value-based payments and bonuses for physician quality reporting system (PQRS). Moreover, to gain incentives from the Centers for Medicare & Medicaid Services (CMS) for Meaningful Use, physicians are really hard pressed for time to provide quality care as well as do the documentation.

Increasing Pressure

Other factors like hiring skilled coders with increased salary rise, increase in the administrative tasks due to compliance issues by the CMS as well as insurance companies, working on patient collections, staff turnover rate, follow up for rejections and denials, etc. pose as challenges to medical practices’ performance.

· Recourse in Group Practice

So, taking recourse to form group practices or be a part of the Accountable Care Organizations (ACO) seems a natural course of action to survive the healthcare reforms. Expenses are shared and experts can be appointed for particular tasks, which is unlikely to happen in an individual practice due to monetary constraints.

Outsourcing medical billing ensures timely filing of claims and accuracy of charge entry. Expert and certified coders don’t come cheap and an outsourced billing partner can be of immense help for their expertise in various medical specialties. A smooth billing process goes a long way in ensuring steady revenue and more collections from alternate payment methods.

Hence, physicians are opting to give up their solo practices and fall back on expert medical billing services to save time, resources, money, enhance practice performance, dedicate more time towards patient care, and last but not the least, to have a systematic documentation process along with keeping up with the latest updates of the healthcare industry.

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: [email protected]

#MedicalBilling #MedicalBillingServices #OutsourceMedicalBilling #OutsourceMedicalBillinginUSA #OutsourcingMedicalBillingServicesinPennsylvania #MedicalBillingServicesproviderinGeorgia #MedicalBillingServicesinSouthCarolina #MedicalBillinginCalifornia #MedicalBillinginMichigan #MedicalBillingAndCoding #Medicalbillersandcoders

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jennyvergeese · 6 years ago

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Flexible Payment Option & Guaranteed Satisfaction Using ICD 10 Coding Services

It is more than just knowing the appropriate code & the updates. It is about accuracy & ensuring the deserved remuneration from the insurance companies. Stay abreast with the latest mandates of the healthcare regulatory authorities & successfully deal with the transition to the latest coding standards of ICD-10. Your revenue generation largely depends on coding. Coding is an extension to immaculate billing documentation process.

We provide six hours of specialty wise sessions to the physicians & medical assistants. Make the most of the extension of ICD-10 implementation deadline – October 01, 2015. Don’t let it affect your RCM; help your medical practice staff be more efficient with 24/7 Medical Billing Services expert training

1. Experienced & certified professionals to impart customized training

2. Compliance with the regulatory standards

3. Use of up-to-date technology for coding

4. Helps in assigning appropriate CPT and ICD-10 codes

5. Enables the staff to address emergency / immediate billing

6. Saves time on resubmissions or lessen chances of denials

7. Boosts the practice performance in terms of efficiency

8. Digital training with a personal touch

9. Learn remotely as per your convenience

10. Flexible payment option & guaranteed satisfaction

Deftly Avoid these Pitfalls:

Change is a path to improvement & progress; accepting it & tapping its full potential is the secret to success. The learning process is time taking but once ingrained into the daily practice, it can give you the cutting edge.

· Avoid unpreparedness this time; get 24/7 MBS to assess your practice readiness

· Lack of damage control; plan in advance for the financial impact of the transition

· The topmost reason for billing errors (due to lack of experience / training) is inaccurate coding

· Incomplete or inadequately filled CMS-1500 forms result in rejections

· Reduce accounts receivable (AR) days by timely filing (within 24 – 72 hours)

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

About 247 Medical Billing Services:

#MedicalBillingServicesproviderinNorthCarolina #MedicalBillingServicesproviderinSouthCarolina #MedicalBillingServicesproviderinOhio #OutsourcingMedicalBillingServicesinPennsylvania

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jennyvergeese · 6 years ago

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Looking For Error-free Medical Insurance Eligibility Verification In USA

Medical Billing Process is captivating its role in the health companies and has different departments to deal with. But are you sure that the income you receive or the staff time you give to your patients are worth enough? This can be assured only when you have proper medical eligibility verification in you billing system.

The very major step practiced by the ones, practicing medical science, is the verification of the medical eligibility of the patients. Insurance companies on a timely occasion alter their policies and programs and it becomes vital to go through the Medical insurance or the health insurance of the patient whenever he comes for the visit. This verification doesn’t let you drown in claims rejections or denials, or the delay of revenue management cycle. We support your billing system keeping “Medical Eligibility Verification” as an important venture.

Our Verification Covers Following Process:

· Receiving the patient data, details, history of payment and schedule; and to revise them in every appointment.

· Checking of Insurance facts and facets and revising it covering their primary and secondary payers through call. Having a word with their authorized online insurance entrances is required.

· If the eligibility is expired or there are issues regarding the policies, we contact the customer and sort the problem.

· Finally the Billing system is upgraded accordingly with the assertion of member ID, group ID, coverage period, co-pay, deductible and co-insurance information with other benefits.

This verification takes a complete check of the payable benefits, co-pays, deductibles, claims assured, effective date, treatment process, plan rejections and denials, the termination dates, and more.

It helps determining a patient’s financial obligation from information provided by the electronic eligibility response, as to assist you in collection at the point of care.

Your Saving

· The potential saving you get enrich with using electronic eligibility verification states following data:

· Cost of handling paper eligibility verification:

· Cost of handling electronic eligibility verification:

· Average annual savings from electronic eligibility verification per physician:

We, with the help of this process of verification, add much more to your company and read the importance of medical eligibility verification:

· This verification very surely increases the income of your company by avoiding any wastage of money on ineligible patients.

· Besides the advantage of increase in cash collections and reimbursements, it even reduces staff- time by reducing the delays and denials, resulting to better staff efficiency.

· It minimizes errors, reduces bad debts and slow cash collections which promptly supports in reduced operational costs.

· It helps determining a patient’s financial obligation from information provided by the electronic eligibility response, as to assist you in collection at the point of care.

· This insurance eligibility check is just a method to have a more simplified workflow with a good sum of money in hand.

About Us:

1. 12+ Years of experience

2. Certified Medical Billers & Coders

3. Completely Familiar with State Guidelines

4. Experienced in Software i.e. EHR and etc

5. Guaranteed upto 30% increase in revenue.

6. Successful track record with multiple speciality.

How it works with 24/7 Medical Billing Services:

· 24/7 Medical Billing Services should have the patient information and insurance information before 24-48 hrs of the appointment.

· The team verify the eligibility Verification and the patient eligibility information, Copay, Coinsurance, Deductible before the patient check in.

· Help the practice to collect upfront payment instead waiting for 45-60 days after insurance process and statement sent to patient etc.

· 24/7 Medical Billing Services also work only on Eligibility process for the practice having in-house billing setup.

About 247 Medical Billing Services:

#MedicalBillingServicesproviderinFlorida #MedicalBillingServicesproviderinMichigan #OutsourcingMedicalBillingServicesinPennsylvania #OutsourceMedicalBilling #MedicalBillinginPennsylvania #MedicalBillinginTexas

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jennyvergeese · 6 years ago

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Increase Your Revenue And Cut Down Operational Costs With 247 MBS

Our team at 24/7 Medical Billing Services understands how doctors are short pressed for time during the weekdays, and so are the patients with their daily routine. With this understanding we make ourselves available 24/7 all through the year to solve coding and billing issues, and you get your payments on time.

Your patients can call us anytime for any kind of clarification regarding the billing while you sit back and keep a tab on the revenue cycle management process remotely. We are here to increase your revenue and cut down operational costs with services at par with international standards.

These are the services we offer to group practices, individual practices, hospitals, community medical facilities, etc. We have adept teams to handle various sizes of practices:

· Revenue Cycle Management

We provide end to end customized RCM services. We are a one-stop shop for all your practice management software needs and billing services. Stay abreast with the ever changing billing guidelines and compliance regulations with us while you simply concentrate on providing quality care services. Our expert billers and coders help you document accurately so there is no revenue loss for the practice.

· Coding Review & Audit

We offer specialist services for coding reviews and audits. Our CPC, COC, CIC, CPC-P, CPM, CPMA, CPCO, CPC-H certified coders review your documentation and pinpoint where you are missing revenue. We provide suggestions on properly documenting the performed services, constantly monitor the RCM and offer immediate feedback on coding guidelines, compliance issues to help the practice earn more money.

· ICD-10 Training

We provide six hours of specialty wise training to the physicians & medical assistants to encourage self dependence and boost efficiency. The training also aides in:

· Assigning appropriate CPT and ICD-10 codes

· Enabling the staff to address emergency / immediate billing

· Saving time on resubmissions or lessen chances of denials

· Medical Billing Audit / Consultation

We offer Medical Billing Consultation Services to detect bottlenecks, streamline the process & help fill the gaps. Our auditing services include reviewing coding documentation, reviewing the fee schedule, analyzing the reimbursement by Payers, identifying the trend & root cause of problems, training the billing staff, and more.

· Credentialing Services

We provide ongoing Credentialing services for all doctors and hospitals (including new ones) to check the contract and verify their credentials on a time to time basis. This process ensures a good rapport and deal with payment delays from the payer in an effective way.

· Free Consultation

24/7 Medical Billing Services understands the busy schedules of medical professionals. That is why we firmly believe in taking up responsibilities to help you maintain a proper work – life balance.

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

About 247 Medical Billing Services:

#MedicalBilling #MedicalBillingServices #MedicalBillingServicesprovider #OutsourceMedicalBilling #OutsourcingMedicalBillingServicesinPennsylvania #MedicalBillinginCalifornia #medicalbillingandcoding

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jennyvergeese · 6 years ago

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What is the Need of Outsource Medical Billing Services?

These are the services we offer to group practices, individual practices, hospitals, community medical facilities, etc. We have adept teams to handle various sizes of practices:

· Revenue Cycle Management

· Coding Review & Audit

· ICD-10 Training

We provide six hours of specialty wise training to the physicians & medical assistants to encourage self dependence and boost efficiency. The training also aides in:

· Assigning appropriate CPT and ICD-10 codes

· Enabling the staff to address emergency / immediate billing

· Saving time on resubmissions or lessen chances of denials

· Medical Billing Audit / Consultation

· Credentialing Services

· Free Consultation

24/7 Medical Billing Services understands the busy schedules of medical professionals. That is why we firmly believe in taking up responsibilities to help you maintain a proper work – life balance.

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

About 247 Medical Billing Services:

#MedicalBilling #OutsourceMedicalBillinginUSA #OutsourcingMedicalBillingServicesinPennsylvania #MedicalBillingServicesinSouthCarolina #MedicalBillinginCalifornia #MedicalBillinginMichigan

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