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How much do Gastroenterologist’s End up Spending in Order to Get Paid?

March 02, 2013



Most gastroenterology practices these days are spending increasing amount of their time and revenue on clerical tasks to enable being reimbursed on time by their payers.

As different insurers use varied rules for processing and paying medical claims there is confusion and inconsistency amidst most providers, with most diverting large portions of their income on administrative tasks in order to be reimbursed appropriately.

Industry standards state

  • A recent study last year depicted that nearly 1/3rd of gastroenterologists spend 10-14 hours per week, while 29% spend 5-9 hours per week on paperwork and administrative tasks
  • A minimum of 20 hours per week is spent by approximately 14% of gastroenterologists on administrative chores
  • To ensure accurate payments from payers physicians redirect nearly 14% of their revenue on administrative activities required by health plans

Moreover according to a recent study a physician’s time spent on health insurer “red tape” can easily add up to nearly 3 weeks!

Gastroenterologist’s amidst increasing administrative tasks

  • Different insurers using different rules cause complexity, confusion and waste, hence standardized processing and payments are essential in order to reduce the administrative burden on Gastroenterology practices
  • Gastroenterology practices currently bear unnecessary costs as they need to maintain a costly claims management system for each health insurer
  • Nearly one in every five medical claims processed by insurers has errors which lead to high administrative costs for both physicians and insurers

In this scenario until a single transparent set of processing and payment rules for the health insurance are created Gastroenterology practices may immensely benefit by outsourcing their medical billing to a specialist and can direct their time and resources to patient care rather than on excessive paperwork.

Browse All: Gastroenterology Billing

Reduce your administrative and billing burdens with MBC…

MBC’s experts help our client get paid on time, reducing their AR days with the following-

  • Certified coders – with enough experience in handling medical claims, our medical coders can help reduce time and efforts taken in filing claims hence reducing days in AR
  • Accuracy & Quality– our medical billing experts ensure that all the claims are complete and accurate hence enhancing payments from payers
  • Timely Processing and Submission of Claims - our billers and coders file claims on time to ensure timely processing and submission of claims especially as normally insurers’ response time to a claim varies from 5 to 13 median days
  • Compliance with HIPPA & payer regulations- we are regularly updated with insurer fee schedules and regulations hence providing consistency in the payment process and fewer payment disputes
  • Accurate Follow-ups - we make sure correct follow-ups are carried out which helps identify partially paid or unpaid claims and eventually helps procuring majority of the claims filed
  • Report Generation – regular reports help to monitor and analyze the quality of service and also provides vital information which helps in the eventual improvement of our clients RCM process

MBC the largest consortium of medical billers and coders all 50 US states serving healthcare for over a decade now is constantly working on satisfying our clients by improving their revenue flow.

We also provide numerous lateral services which include medical coding, data entry and transcription service, consultancy and so on for all specialties including gastroenterology billing. No matter what type of medical billing service you require, MBC medical billing will competently endeavor to meet your needs.

MBC
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Improved communication with Payers + improved patient care + considerably reduced administrative tasks

Increased revenues
 

Category : Revenue Cycle Management