Wilmington, 30th November, 2011
US Physicians frequently have to face medical reimbursement cuts while billing for their services due to unfair claim reviews by the health insurance industry. Medicare accounts for 30% of total US health care spending, and with physicians possibly facing another Medicare reimbursements cut of 27% in 2012, along with insurers regularly underpaying physicians, the US healthcare providers have many hurdles to face. However, providers willing to reduce their cuts, involved in their core services find it difficult to do a detailed analysis of patients’ eligibility for medical reimbursements.
Trends in medical reimbursement faced by healthcare practitioners
Physicians battling against cut backs in Medicare reimbursements are also suffering economically. A survey by the Texas Medical Association revealed that nearly 50% of the doctors surveyed in Texas would pull out of the Medicare program if Congress enacts its plan to cut reimbursements.
Industry experts are of the belief that any significant change in health care must be tied to reimbursement, however on the contrary, US insurance companies, do everything they can to maximize their proﬁts and rid themselves of claims. Analysis of 5 million claims records from Medicare and 7 national health insurers by AMA revealed that unfair claim review procedures by insurers costs the health care system $210 billion annually, diverting nearly 14% of physician resources.
Several health insurance companies are using technology to reduce payments to physicians for out-of-network services. Leading software companies like IBM, McKesson, Bloodhound Technologies, and TC3 Health boasts their products can reduce insurance payments between 3 to 7%. Ingenix a research firm owned by healthcare insurance carrier UnitedHealth Group too uses technology to lower the claims insurance companies’ pay to doctors. Ignenix was under scrutiny in a suit filed against UnitedHealth for unfair reimbursement when patients see a doctor outside their provider network. UnitedHealth Group reached a settlement to pay $50 million to reform the way it determines these reimbursements.
Medicalbillersandcoders.com expertise in limiting and counteracting reimbursement cuts
Facing reimbursement cuts and denials can be understandably exasperating for the physicians, and it becomes almost inevitable for the physician to view outsourcing the billing and affiliated services as a feasible option. Medicalbillersandcoders.com has substantially helped physicians in these testing times to combat reimbursement cuts, with their experience. Our Medical billers and coders being compliant in HIPAA reporting and CPT codes have earned the respect of various healthcare specialists.
Medicalbillersandcoders.com comprises of highly experienced and pre-qualified billers and coders who are suitably updated with the current laws and regulations for medical reimbursement and can effectively assist physicians in dealing with the issues of reimbursement. Our well qualified experts with a keen understanding of ICD-10 and health care IT reforms have the knowledge to standardize your billing and revenue maximization processes, proving to be indispensable to practices across the 50 states of US. MBC medical billers and coders can efficiently interact with your insurance providers and bring in better claim reviews, allowing doctors to effectively concentrate on their patients.
Medicalbillersandcoders.com is the largest 'Consortium of Medical Billers and Coders,' across the US. The portal brings together hundreds of billers, with experience in different specialties, on the same platform to service physicians in their local areas. This network of coders and billers is growing rapidly and is currently servicing over 50 specialty physicians, across the US ( Idaho Medical Billing, Minnesota Medical Billing, Virginia Medical Billing, Missouri Medical Billing, Rhode Island Medical Billing, Kentucky Medical Billing, South Dakota Medical Billing, Vermont Medical Billing, Louisiana Medical Billing, Montana Medical Billing ) with the most prominent being Pain Management Medical Billing, Radiology Medical Billing and General Practice.
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Prerna Gupta, Media Relations
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