Medical Billing Outsourcing primarily known to streamline physician’s AR and denial management also plays a vital role in streamlining various job functions for physicians.

According to Industry experts:

  • One-fourth of all medical practice revenue not procured due to Under Pricing, Under Coding, Missed Charges or Unreimbursed Claims
  • Hundreds of millions of dollars is lost annually due to medical billing errors
  • It costs $25 to $30 to manage the average denial; hence physicians prefer to submit cleaner claims from the beginning by streamlining their job functions

Moreover increased administrative responsibilities are also encouraging healthcare entities to look towards outsourcing their medical billing process to a billing specialist who is equipped to completely handle this process accurately and will be able to avoid unnecessary errors.

With this trend increasing numbers of physicians are meeting their revenue targets as a result of streamlined job functions.

Which job functions are streamlined with outsourcing?

  • Patient Enrollment & Scheduling handled efficiently, ensuring increased patient flow and revenue to your practice
  • All Documentation with transition to an electronic format done accurately which helps in qualifying for incentives
  • Precise Billing & Coding by a billing specialist who has complete knowledge about modifiers and other billing & coding changes taking place in your particular specialty
  • Timely Insurance Claims  submission & re-submission of claims by a manager, ensuring no back log of payments
  • AR manager solely dedicated & responsible for your entire Accounts Receivable Management process providing timely revenues
  • Timely process in place for Denial Management & Appeals ensuring very little revenue loss to the practice
  • Ongoing Payer follow-ups ensuring maximum reimbursements to the practice at minimized  cost to the practice
  • Daily/ Weekly/ Monthly reporting system in place, which helps the practice attain minimum revenue losses and also low financial leakages
  • Patient Follow up process in place when the payer denies a claim 
  • Staff Retention of billing staff not necessary as the outsourcing partner takes care of all those headaches
  • Elimination of maintaining vast Payrolls of all billing related staff
  • Management of billing employees leaves and smooth working of business even during holidays with outsourcing company vast set up ensuring ongoing billing the entire year
  • Front end administration managed better as all your back end functions are looked after efficiently
  • Revenue planning possible with all old accounts cleared and sorted out  by the billing specialist
  • Transparent & Clear patient accounts analysis by the end of the year allowing clear budgeting and eligible patient database

With these job functions taken care of by billing specialist physicians can concentrate on their patients additionally managing to lower their costs.

Attain maximum Medical Billing Revenue with the help of outsourcing!

Streamlining Benefits to RCM:

By streamlining job functions a medical practice can dramatically improve its RCM/cash flow, leading to improved earnings and increased savings. Moreover as the billing is solely handled by a specialist you can leave aside all your billing worries and increase your earnings with improved patient flow.

Outsourcing to MBC will provide all the above services and also help you:

Save up to 60% on operational costs
Earn up to 32% more in revenues
Acquire free EMR & Practice Management with our offerings
30-40% reduction in AR days due to correct usage of modifiers
Denials reduced by almost 10-15%, resulting in additional revenue

Utilize Customized Billing Strategies to make up lost revenue! experienced Billing team has been assisting in revenue maximization for healthcare organizations looking to outsource for - over a decade now across the 50 US States and across varied specialties. Our team is constantly training and updating themselves about industry requisites including HIPAA compliance, and ICD-10, CM.

MBC also provides consultancy right from the best EHR– to data analytics, assuring our physicians maximum reimbursements at considerably lower costs.

Published By - Medical Billers and Coders
Published Date - Jul-31-2012 Back

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