July 02, 2013
Medical billing can be challenging for all types of medical practices; however, for internal medicine physicians/internists, it can be even trickier as the billing procedure for them is quite unique.
Why is billing unique for internists?
For majority of medical conditions, patients first go to internal medicine practitioners for diagnosis and basic treatment. From there they are referred to specialists for further medical care, if required. Due to this, internists become dependent on other practices or practitioners for payment and the billing process gets complicated
Internal medicine practitioners offer diverse services. They see approximately 30-40 patients on a daily basis. Besides hospitals and nursing homes they also visit patients at offices and homes. Due to a high number of patients, they need to handle large volume of claims which creates a greater possibility for errors and denials
As internists need to collaborate between multiple practitioners and deal with various patients, regular changes in coding also complicates the billing process
Hence Internists prefer outsourcing billing and coding services to a billing partner so that minor mistakes such as negligence to procedure billing, under-coding office visits or errors in coding do not hamper their chances of getting paid what they deserve.
Since the billing partner will be entirely focused on filing claims, following up with insurance companies and handling claim denials, it saves money and time for Internal medicine practices which can be used on patient care.
Benefits acquired by a specialized billing service?
The billing partner with a background in coding helps in accurate and error-free submission of claims to insurance companies
The billing services constantly updates and educates its team of experts about ICD-10 changes and also about what constitutes a Level 1, 2, 3, 4, 5 office visit
They are well equipped to handle hospital charge billing, visits to nursing homes, SNF counters and so on
Internal medicine practices produce a high volume of charges, and the billing partner ensures that claims to different insurance carriers are submitted correctly
Since the routine admin functions is handled by a third party, more time is spared for patient care which will eventually enhances quality of care, increases patient satisfaction and increases gross revenue
With a drop in claim denials, resources will be freed up which will result in increased revenue and reduced operating costs
With so many benefits of outsourcing, why take the risk of getting underpaid or receive no payment at all? Medicalbillersandcoders.com has an expert team of billers and coders who have been providing billing support to internal medicine practitioners for over a decade now. As an internal medicine billing partner, we ensure that our clients get the required reimbursement for each patient. From capturing charges and denial management to submission of claims, our medical billing experts implement the best practises and make sure that the clients enjoy healthy account receivables.
Outsource Medical Billing