Medical billers and coders are integral part of health care industry helping to generate error less med claims ensuring there is streamlined revenue.
A professional medical biller and coder helps healthcare facilities, insurance payers, and patients to navigate the complexities of the many laws, regulations, and guidelines related to the business side of healthcare.
Why modern day medical billers and coders seem to be savior of the healthcare industry in today's time? Many doctors and physicians or practice managers make the choice to outsource their medical office billing to a professional medical billing company. To adopt changing demands of healthcare industry in USA, it is has become crucial to hire a professional medical billing company who not only saves you from upgrading hassles of new medical billing codes but it saves a lot on the time, money and infrastructure spend which can be counted in eliminating the burden of concentrating on too many aspects of medical billing.
The healthcare landscape in USA is changing at a recording rate and medical billing is not spared from the upheaval of change. Keeping up with the ever changing rules and requirements is tough. It requires constant education and vigilance. New and deleted CPT codes come out annually, Fees change, and carrier rules seem to vary daily. Most people just don't have the time needed to dedicate to this task. Some of the top reasons that validate the existence of medical billers and coders are:
With so many fluctuations impacting physicians and revenue cycle management today, hiring a professional medical biller and coder may be the solution to many of the issues practitioners are experiencing today. Their hybrid approach to practice management and revenue cycle management typically increases about 10-15% in collections.
A medical billing and coding service can offer the benefit of a enormous knowledge-base and just as importantly; they are privy to aggregated trends from a network of other practices. This inside information keeps them on the cutting edge and shared knowledge is transferred to the practice in real time. Real time information can be invaluable when the change is fast paced and unprecedented.
Medical billing service submits your claims faster and with fewer errors, so you can receive payment from payers in the shortest amount of time. Your payments are posted by professionals who will prevent errors in payment posting, resulting in denials being detected upfront. These are worked and resubmitted for timely payment. A professional medical billing service ensures that you are transmitting claims electronically to all possible carriers and are set up to receive ERAs, further reducing turnaround time. Achieving the highest reimbursement possible in the shortest amount of time puts money in the bank and not on the books.
You spent all those years in school to become a doctor so that you could enjoy a long lucrative career helping people. Little of that time was spent learning the intricacies of medical billing. Handling billing in-house requires a lot of time and effort. Even if you are not the one that actually spends 15 minutes trying to contact a carrier to follow up on a single claim, you will still need to deal with the high level management and all of the headaches that come with it.
Modern medical billers and coders can free up a substantial amount of time that could be spent with patients. With age comes wisdom and at some point you may ask yourself "what is my time worth to me compared to what I can pay someone else". Choosing to hire this service is the best way to free up your valuable time while maintaining the same patient volume and potentially increasing your revenue at the same time.