Due to the new reforms brought on by the Obama administration, healthcare centres across US are soon likely to receive increased number of patients, handle increased number of administrative activities and hence require to spend increased amount of time on balancing work and reform pressures to be able to run a profitable practice.
Difficulties in balancing work and healthcare reform demands-
- Rise in number of patients: Even though new reforms are being implemented to make healthcare effective and accessible, it has certainly increased the number of Medicare patients coming to doctors
- More patients, more documentation: Due to the rise in number of patients, doctors are struggling between provision of quality healthcare and handling of increased reports, documentation and so on
- Claim denials have increased: More patients have led to more claim denials and with the limited in-house staff, physicians are being forced to squeeze out time from healthcare provision and focus more on filing claims, handling claim denials, follow ups, coding and billing
- Shift to ICD-10: With new reforms, ICD-9 will be changed to ICD-10 which is going to make billing and coding more complex. Even though it will help in streamlining the entire reimbursement process, it will -
- Result in higher number of coding errors initially, leading to claim denials
- Physicians will have to hire more staff which will have to be dedicated totally to AR and billing, coding tasks
- Not only will new staff have to be hired but physicians will have to provide adequate training to the staff from time to time to handle the new responsibilities that come from new reforms
- Apart from spending money on hiring, physicians will also have to spend capital on updating software and infrastructure
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Need for effective coding and billing -
Consequently the demanding nature of the healthcare reforms requires a streamlined medical billing and coding process, to avoid unwanted delays to take place in terms of revenue generation. This can lead to higher expenditure and increased time spent on denial follow-ups and claim re-processing, leaving very little time for patient care. In this scenario, amidst healthcare reforms it is essential for physicians to ensure that the billing and coding aspect of their business is running smoothly; without affecting quality of patient care.
Outsourcing is the key to balance-
How to keep up with the rising demands of healthcare reforms while handling multiple tasks? The answer lies in acquiring streamlined and an efficient billing process with the help of billing experts who work on pay-for-performance basis. A certain skill set is required to accomplish the complex coding and billing tasks and only an efficient billing partner can offer timely, error-free results, leaving you with enough time to concentrate on patient care.
With an experience of more than 10 years in the field of medical billing and coding, medicalbillersandcoders.com has been offering updated medical billing services to physicians across 50 states in the US. We have a team of licensed and trained professionals who are equipped to provide error-free, timely results as per the requirements of new healthcare reforms. While we provide effective coding and billing for your set-up, you can concentrate on delivering optimum patient care, along with fulfilling the reform requirements – hence achieving the right work balance despite the demanding healthcare environment.