May 13, 2014
Is your billing company ready for the transition to ICD-10? Outsourcing can end your worries related to coding and billing but if your billing company fails to prepare for the new code set, you won’t get paid for the services offered. Therefore, you must talk with your billing partner and find out if the company is ready to provide the support you need.
Now is the right time to talk to your billing partner and find out if you can count on them to:
Assist you in reducing potential reimbursement challenges and interruption to workflow
Help you in ICD-10 testing and find out areas that might need improvement
From providers and payers to billing partner, everyone needs to be on the same page for effective implementation of ICD-10. Lack of readiness on part of your billing company will result in huge revenue losses for your practice.
Medical Billing companies need to update their system for supporting ICD-10 CM. However, before you ask them about it, you must assess how the transition will affect your practice. You will have to list systems that will be impacted due to this change. Once done, you will have to ask your billing partner for each of the system mentioned in the list and assess their level of readiness.
You will have to ask them if they still support the systems used at your practice as some companies don’t support systems that are too old
Ask questions about any additional costs that will be involved for system maintenance or upgrades
You should also know if training and support will be provided for new ICD-10 features by your billing company
Is there any contingency plan if your billing company isn’t ready by 2015?M
Billing companies wouldn’t want to admit that they are not prepared for ICD-10 but practices must make their own emergency readiness plans and stay aware of how their billing partner plans to assist them in the transition.
Choosing a reputed billing company:
If you are planning to outsource billing and coding requirements, take time in choosing the right company that has a skilled team of certified coders and billers, latest technology and sufficient industry experience.
Medical partners such as Medicalbillersandcoders.com have been helping medical practices across 50 states in the US sail through reimbursement challenges. MBC has the largest consortium of certified coders and billers who are updated with new billing and coding reforms on a constant basis. Only the latest technology is used for offering billing services to practices as the aim of MBC is to maximize revenue and minimize claim denials.
The team at MBC is well-trained in handling ICD-10 challenges so, you can eliminate your worries about claim denials caused due to coding errors. You can either outsource your requirements to MBC or hire experienced coders from our company for your practice. While a skilled team takes care of your revenue cycle, you can concentrate on offering quality patient care.