In order to keep the doors open, busy medical offices must strike a balance between providing excellent patient care and completing required administrative work. Medical bills can consume a significant amount of time. Finding and training individuals to carry out this important role can be challenging as well. Additionally, claims that are erroneously or slowly handle might have a detrimental effect on the income of your clinic.
For claims administration, a lot of practices use independent medical billing company in us.
What are services for medical billing?
To save your staff time, health insurance claims processing, submission, and follow-up are handle by independent medical billing services. In order to obtain a better level of payment in less time, these businesses use specifically trained staff that are educated about different payers and can operate within each company’s unique policies. Additionally, your medical billing business can pursue unpaid accounts and follow up on denied claims.
Medical coding versus billing services
Medical billing and medical coding are two different services. In order to prepare for the submission of claims, individual services are code by giving them standardized labels. The actual processing, submission, and follow-up of claims known as medical billing. Some medical billing company might provide both, but many expect you to handle your own coding. When it comes to coding inquiries and claim appeals in billing, 99MGMT has qualified coders on staff who can help handle medical coding for your clinic.
Bills and Claims Submission
Our main service integrates with your electronic medical records (EMR) system, bringing each visit’s specifics, pertinent patient information, and other data directly into a standardized claim form. This simplifies the billing and claim submission process. Then, for each claim that needs to be deliver to a payor, we run a series of claims-scrubbing tools to make sure the information is accurate and the proper codes are use to ensure optimum reimbursement.
Additionally, our team manages all necessary follow-up, claim resubmission, and issue escalation when claims are refuse to make sure your practice consistently receives the payment you depend on when providing care.
Assurance of Benefits
It’s frustrating to learn that a service you provided to a patient isn’t cover by their particular insurance, which results in rejected claims and accounts receivable balances staying far longer than they should. We assist your team by providing medical billing services so they can establish whether a patient’s insurance will pay particular services before you provide them.
We perform all essential credentialing if a new doctor or treatment provider joins your team or if you want to work with a new payor. Both private and public payors, such as Medicare, Medicaid, and VA insurance, are included in this. In order to prevent you from losing out on payment because your active personnel or providers lack credentials with a certain payor, we maintain them up to date.
When you are capable but not currently contracted for certain codes, we acquire authorization from payors to conduct certain treatments in addition to confirming patient benefits. We fight for you to meet the standards of insurers to ensure maximum recovery in a timely way because we are aware that the insurance environment is complex and continuously changing.
Management of Receivables
Bellmedex revenue cycle management continuously scans your practice’s accounts receivable to identify any unpaid invoices you haven’t yet collected, then goes after the payer or patient who owes the balance. We also record both paper and electronic filings for your records and promptly post payments.
Any medical billing companies should guarantee that you have access to the most recent financial data regarding the services we offer, and Bellmedex does this in addition to holding regular meetings to review our objectives and progress. We will discuss claim submission and acceptance rates, the status of accounts receivable, and significant transactions over the previous period at these reporting sessions.
Medical Billing Companies services Save time while generating income
When you work with specialists like those at Bellmedex, outsourcing the time-consuming and unpredictable duties that divert your team’s focus from providing top-notch treatment can be a very advantageous strategic move. To make sure you paid for your services more frequently, our team’s sole area of expertise and experience is revenue cycle management, and we have experience in all 50 states.
Collection of Patient Payments
The daily communication your employees has with former clients who are still owe money for your services is another time-consuming task. We follow up with potential customers by phone, email, and mail to secure these payments, freeing up your team to focus on other crucial duties.
Maintain Data Security
Your medical billing business ought to be dedicated to maintaining the security of your Protected Health Information (PHI) at all times. If your existing billing business doesn’t priorities this or if potential partners can’t guarantee a high level of security for your data that should raise a very huge red signal.
It’s critical to understand how your medical billing companies is protecting your PHI in addition to knowing that they will do so. You can learn more about how securely your data is manage by asking your medical billing companies about how they save system passwords, the specifics of their procedures for destroying PHI, and email encryption practices.
Easy access to your claims data is required
Your access to your own data shouldn’t ever be restrict by your medical billing companies. If you are unable to generate reports to evaluate the efficiency of your billing service, there is a good probability that your practice is suffering financial losses as a result of subpar operation.
Some billing services employ a separate system for billing management rather than the practice’s EHR software, which restricts the availability of data. Even if this isn’t always a sign that things have gone bad, it usually is a sign that performance is below par. What’s worst? Because you are unable to access the system where this information is stored, your practice is unaware of the state of your claims and revenue cycle.
When you decide to switch to another service, this could cause even more issues for your practice in terms of money. If you decide to transfer to another billing service, the new service won’t be able to continue working that old AR where the old service left off because it won’t have access to the prior claims.
Deliver thorough and practical month-end reports
The success of your company depends on you measuring and analyzing your patient and billing data on a monthly basis. This information reveals the aspects of your practice that are doing well and those that may need improvement from you or the billing services team. You can establish reasonable expectations and create practical solutions to satisfy them by looking at historical performance data and patterns.
If you don’t already, you should be receiving monthly reports and in-depth analyses of the supplied data. Or, even better, you ought to locate a medical billing companies that enables you to obtain and run your own reports anytime you choose. This manner, you can compute your metrics, compare them regularly to benchmarks, and check whether your billing service is as effective as it claimed to be. You also know the data is correct.
Improve Services and Technology Continuously
A competent medical billing companies will offer the bare minimum of services. To assist you in overcoming the ever-present obstacles in your sector, a superb medical billing firm will continuously enhance its technological capabilities and the services it offers.
Some examples of these services can be a self-service knowledge hub to enable your practice quickly find answers to frequently asked questions or an online patient payment portal to help your practice deal with the high number of high deductible health plans.