With the introduction of the Affordable Care Act, medical practices on one hand need to gear up for an influx of patients, while on the other hand according to a recent survey physician shortage has been intensifying. This shortage along with increasing demand for physicians and healthcare reforms has led to an expansion in the scope of work of the administrative staff, nurse practitioners and physician assistants. According to the latest job reports as per health care jobs network, although the most sought after job remains that of a physician, there is an increasing trend of employing more NPs, PAs and health IT professionals.
Recent healthcare reforms like HIPAA, EMR and ICD 10 certification essentially introduced to improve the efficiency of health care organisations, have brought with them new responsibilities for staff like increased reports, increased documentation, increased denials and follow ups. Consequently, providers are in continuous need of more professional staff to handle documentation and reports, rather than concentrate on their core activity which is providing patient health care services. At the end of the day, with insurance payers also increasingly denying claims there is a considerable loss of revenue for the practices.
Amidst the changes billing service partners can efficiently undertake responsibilities like –
- Billing, documentation, reimbursements, dealing with insurance payers, RCM management etc., hence allowing the in house staff to handle effectively administrative functions of the clinic. This division of labour increases efficiency of staff improves quality of patient care and also increases revenue
- Medical billing partners solely concentrating on medical billing functions can accurately take care of all the billing and documents at every stage, with regular quality checks, analysis and the usage of correct modifiers thus avoiding any coding errors, misunderstanding or inefficiency also reducing the number of denials the first time itself
A Medical billing partner can provide undivided attention needed for the finances of a clinic, against the in-house management of revenues. Hence, hiring a medical billing and coding service is practically forming a new finance department for a practice which concentrates completely on all the procedures like billing, documentations, handling denial and underpayments, insurance claims.
MBC’s medical billing services expertise in the field of billing and coding, besides being in line with all the latest updates and strategies followed in the market. Our expert team of medical billers and coders are certified and well trained in all the upcoming healthcare reform trends and work together to assist physicians to help deliver exceptional services, while taking care of their billing activities involving insurance payers and government entities. MBC’s has been providing billing services to physicians across all US 50 states for over a decade now and have proven results showing their accomplishments.