October 29, 2013
Modern healthcare challenges have become so numerous and daunting that they leave healthcare organizations in a constant state of flux. Take the challenges posed by new technologies used to perform various procedures involved in treatment episodes. Each time a new diagnostic tool arrives, healthcare organizations have to both acquire and adapt to it. Both have financial implications.
Adoption of a new technology also means weaving its use and outcome into the day-to-day operations of a healthcare such that the tool doesn’t affect the smooth functioning of, say, the flow of documentation and medical details that go around and form the cycle of information that’s used for medical and non-medical purposes. This example of technology shows how things are interconnected in a healthcare ecosystem such that, if something is not handled well, it can trigger a chain reaction affecting many aspects of healthcare including finances.
Revenue is a casualty of modern healthcare challenges. For a modern healthcare provider, financial health, in many ways, is connected with its ability to meet regulatory challenges. 2013 has seen a renewed emphasis on PQRS (Physician Quality Reporting System) effected by healthcare authorities where care providers need to report on more parameters than before, failing to do which will attract penalties. There are frequent changes in technical details and languages of medical codes. Bundled payments are also becoming a source of concern for care providers.
It’s not a surprise that rejected claims and underpayments have been found to have undercut the finances of healthcare organizations by 7 to 10 percent. Consequently, care providers take billing and coding much more seriously today than before and many more now are setting up in-house billing and coding teams or outsourcing their processes. But billing and coding challenges persist.
Medicalbillersandcoders.com the largest billing and coding consortium in the US has helped both small and big healthcare centers to bring down their claim rejections and improve revenues, thanks to its nationwide team of experienced coding specialists who are adept in intricate procedure coding, accurate charge capture and electronic filling as also sifting through piles of medical data and identifying varied diagnoses forming a treatment episode.
If you are a large medical outfit with an in-house team of billers and coders to handle claims, as part of our Revenue Management Consulting services, we can slim down and smart up your revenue management system by replacing old software applications with new ones suiting your purpose and environment, fine tuning your lengthy processes or replacing them with new ones if required and training people in various areas of billing and coding techniques and methodologies.
If you don’t have an in-house team of billers and coders, you can ship out your entire billing and coding process to us and we will help you to reduce your claim rejection rates, stabilize and boost your revenues. If you don’t want a complete suite of our services, you can choose only such bits and pieces of our offerings as will exactly suit your billing and coding needs and save money.
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