OB-GYN is one of the fast growing practices and to keep up with it is a challenge. As per the recent report from Medscape, the OB-GYN medical specialty reported nearly the similar income in the year 2013 as they did in the year 2012 with only just 0.5% increase in two years, but there was tremendous growth witnessed in the year 2014 which was 3.4%.
OB-GYN is a specialized practice that involves huge filing claims as the practice covers services like Gynecology, Obstetrics as well as anesthesia procedures. It requires regular dealing with OB-GYN data which include several cases like pelvic examinations, RH antibodies, antenatal visits, and menstrual history. With lot of work load at the practice and huge claims and reimbursements to look after there are chances that the OB-GYN practitioners are facing problems in providing quality service. To maintain a staff that is pro in medical billing and coding is tough and to sustain in the medical competitive environment it makes it a wise decision to have professional medical billers onboard.
Coming back to an alarming question of how your OB-GYN practice can increase revenue in 2018?
Professional medical billing companies are expert and equipped with latest changes happening in the medical industry of US. Their team is experienced and has known how to deal with insurance matters. Outsourcing your OB-GYN billing to professional medical billing experts can help your practice increase revenue in 2018.
Capturing Accurate Patient Information
Timely accurate registration helps keep the practice streamlined on the front as well as the back offices too. Getting accurate, timely complete details of the patient enables the clinical staff to treat patient with better service and without any delays. Hence; when the information is correctly feed, there are no headache of looking after incomplete returning claims.
Medical Codes Are Updated Regularly
Outsourcing to a professional medical billing and coding company, you can rest assure about the mishap of coding in your practice. To keep up with the ever evolving healthcare industry it is important that you and your medical staff keep up with the latest change in the medical codes. The present in-house may not be able to capture the patient related details perfectly along with the changes in the medical codes. Outsourcing medical billers and coder keep abreast of themselves with the regulatory changes with quickest turnaround time, and no coding errors. This will reduce to the claim denial hence boost in practice and revenue is witnessed.
Handling Claims Management
OB-GYN medical billing experts keep track of the progress of the claim denials. Their team assists in streamlining the appeals and denials and submits the claims in quick turnaround time so that the practitioners do not miss the payer’s deadlines. This helps in reducing the claims and maximizing the revenue.
Software for Easy Accessible Medical Records
Using effective electronic medical record software can help in eliminating the errors of medical billing. It also reduces transcription costs thereby eliminating transcribers and other relevant staff working on medical records. The software can make your practice productive and helps in increasing revenue by capturing the charges for the OB-GYN services thus avoiding the loss of revenue.
Preauthorization for OB-GYN Practices
OB-GYN practitioners at times lose out on the claims settlement by failing to abide by the pre-authorization requirements from the insurers. Outsourcing medical billing and coding company has a list of payers that requires pre-authorization, so when the treatment is prescribed they immediately check the lists to determine whether pre-authorizing is necessary or not.
Reduces Time and Cost
Getting medical billing software will be a wise decision but you’ll need a trained staff to run those gadgets. Why take up those headache when you can easily outsource and do what you are best doing; focusing on your practice. Outsourcing your billings OBGYN will dip your operating cost and all you have to pay the basics/ the package sum to your service provider. The rest of everything is taken care of. Their team does the needful for updating your bill related issues and helps you save your time and money.