Over the last few years the healthcare system in the United States has witnessed modifications in policies and regulations, in order to make healthcare facilities cost effective and accessible to people from all income groups. However, a substantial percentage of the population still remains uninsured and the introduction of the Patient Protection & Affordable Care Act in 2010, aims to increase the number of people insured and make healthcare more patient friendly.
Doctors need sufficient face-to-face time with their patients to provide the best possible medical care. Changes in healthcare regulations and rise in the number of patients have raised the bar for services provided by physicians, hospitals as well as insurance companies. For instance, in the coming months, the insurance companies are obligated to cover sicker patients without asking for higher premiums and must cover preventive screening services for certain diseases. The physicians are expected to adopt health information technology; databases like EMR/EHR (for patient records), dealing with the insurance claims; billing details, coding, follow up on the claims and other technical responsibilities. They are also expected to be compliant with the regulations of HIPAA, CPT and the upcoming ICD-10 coding system.
Hence as healthcare providers get increasingly burdened with these challenging technical activities which require time and proper training to perform, physicians and other medical staff spend more than half of their time dealing with billing and insurance formalities when the same could be spent diagnosing & treating patients. However as physician’s core activity being patient care they are finding it increasingly difficult to balance their roles at work to increase revenue generation.
Inevitably lack of time and increased regulations can cause inaccurate coding, errors in patient records, failure to comply with the regulatory standards which are some of the issues faced by the physicians. In this scenario more and more physicians are facing delays in claims processing, rejection of claims, increased penalties etc. Moreover, incorporating IT systems for medical billing along with trained personnel can be a costly affair.
One of the most favorable solutions to this problem lies in – physicians outsourcing their paperwork requirements to medical billing companies – while they solely concentrate on patient care. Being specialists in medical billing the billing company’s support staffs are certified, up-to-date and have better infrastructure hence are able to easily manage the entire Revenue Cycle Management (RCM) along with denial management and appeals while conforming to patient confidentiality, offering physicians the balance required in their work.
MedicalBillersAndCoders.com has been providing assistance to physicians and healthcare organizations across 50 states in the United States to receive timely reimbursements for over a decade now. We have certified billers and coders who are well versed in handling all sorts of discrepancies & situations. We also provide professional solutions in medical billing, coding, RCM, denial management, along with regulatory compliance helping physicians to balance their roles and concentrate mainly on patient care while we strive to achieve maximum & timely revenues for our physicians.[subscribe2]