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Practices in Ohio need to consider their medical billing strategies if they are above four per cent denial rate. Claims denials are mainly caused due to billing mistakes, coding errors and issues related to input oversight. Mistakes in billing result in delayed payments affecting the revenue cycle of practices. Many providers in Ohio have chosen to outsource their billing requirements to expert billing partners. This trend has gone up due to the rise in payment cuts and changes in the billing and coding regulations.

Providers in Ohio have been able to increase their cash flow and enhance the efficiency of their revenue cycle through outsourcing. Having a dedicated team of expert Ohio billers saves them time and money. Since, complex billing and coding tasks are handled by an experienced team; providers get adequate time to focus on quality care.

  • All medical practices lose around 25-30% of their income due to improper billing
  • Denial rate for a high performing practice remains below 5%
  • Approximately $25-30 is spent on managing the average denial

Need for an All-inclusive Billing System

Medical practices need a comprehensive billing system in order to avoid billing mistakes. This system should include the following:

  • Clear policies and processes to handle claims denials
  • Regular update of processes to avoid recurring errors
  • Periodic audits for areas that need improvement
  • Close monitoring of the denial rates
  • Payer and medical industry research for identifying changes and opportunities to prevent billing errors
  • Streamlined processes for insurance verification, regular reports, complete documentation

Considering the lack of time and money, physicians in Ohio have hired billing partners like to sail through their revenue challenges. MBC has an experienced team of billers and coders who are well trained in offering specialized billing services. These services can be customized as per the needs of the clinic or hospital management. With the help of expert billers at MBC, physicians in Ohio medical billing  have maximized their revenue and managed to minimize the claims denials.

Why Practices Need an Expert Billing Team?

  • Practices in Ohio have been able to save around 60% on their current cost by outsourcing vital services like coding and billing
  • Providers can save on healthcare infrastructure, time and workforce expenses if they seek assistance from Ohio expert billers. It will eliminate the need to invest in expensive technology and software because the billing company takes care of all the management needs
  • As the revenue cycle is taken care of, the physicians and healthcare staff can dedicate their time and energy to enhance the level of patient care. Gradually, this will improve the efficiency and productivity level
  • By outsourcing, it has become easy to get important revenue-related tasks completed ahead of schedule. This ensures timely payments to practices
  • Physicians can get complete access to the healthcare reports anytime they want

Outsourcing has improved the business performance for practices in Ohio. It has also increased the levels of profits and productivity, boosting value and giving practices an edge over the others.

Published By - Medical Billers and Coders
Published Date - Jul-28-2014 Back

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