| Medical Billing Insights |
"Simple Solutions to Your Reimbursement Problems"
You Care, We Deliver!
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| Wednesday December 11, 2013 |
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| Do bad debts or write offs represent 5% or more of your medical billing? |
As long as patients are forced to pay bigger share of their medical bills, bad debt will remain a cause of concern for the healthcare providers. These days, more and more patients are paying out-of-pocket instead of being covered by third-party payers.
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| MGMA and other industry studies conclude: |
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- Bad Debt and write-offs are becoming increasing frequent and can represent 5% or more of billings.
- Approximately 50% of patient accounts with capacity to pay were written off as bad debt, instead of being re-billed or outsourced.
- Over 17% patient eligible for government assistance or charity care programs are also written off.
- Most practices leave over 24% of their revenue uncollected.
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Bad debts can be a major cause of concern if it exceeds the 5% mark. Improved revenue cycle performance to reduce bad debts and denials can account for 2-4 percent of additional net patient revenue, which can amount to big money for certain providers.
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MBC helps physicians reduce bad debts:
MBC has minimal defect approach to claims handling that decreases denials substantially while reducing A/R days to less
than 20 in most cases
Our connection to eligibility systems makes sure that bad debts and write-offs are virtually absent in your claim
We submit clean and complete claims that virtually eliminates the need for claims resubmission
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| Get The Best Solutions In RCM Consultancy |
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888 357 3226 |
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| MBC constantly aims to prevent bad debts and write-offs by vigilant monitoring of claims submitted to improve accuracy, compliance and productivity |
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Utilizing healthcare technology correctly to increase patient satisfaction |
Patient satisfaction has always been the major concern for most of the healthcare providers. Patient satisfaction has proved to be of vital importance for the physicians as it can impact actual reimbursement for care.
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Industry facts state:
- Interactive monitors helps boosts patient satisfaction by 42% and lifts overall satisfaction scores by least 10%
- 78% Americans believe doctors who use a computer system to store medical records provide them with better care
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| Efficient practice management equals to higher revenues! |
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