Hospital Billing

How it works?

Our premier hospitalist medical coding and billing services, where a dedicated and competent billing expert team endeavors to accomplish maximum payout for physicians' claims. We have specialist billing experts for the entire portfolio of hospitalist procedures. You can also match your requirements with the skills of our expert hospitalist billers in your area.

MBC Deciphers Core Problem Areas in Hospital Billing

Hospitals are primarily concerned with providing optimum patient care. However, patient care, operational efficiency, and revenue generation are pressing issues that can make or break a practice or a hospital.

Hospital billing is a complex subject that is constantly changing. Therefore, it is critical that hospitals entrust their medical billing requirements to experts. Research indicates that errors in hospital billing are an extensive problem affecting the healthcare industry, with around 30% to 40% of bills containing errors. This has deep ramifications for the functioning of hospitals, which are always under financial constraints.

Medical billers and coders' experienced medical billing professionals' in-depth knowledge of different areas of medical billing can steer small and large hospitals and practices to operational efficiency and improved revenue generation. The experts at MBC are trained and well-versed in the latest changes in medical billing.

MBC has vast experience in the field, impeccable understanding of client requirements, and knowledge of best industry practices, making them the ideal partner for most small and large hospitals. The medical billing expertise available to MBC professionals has allowed them to identify potential challenges and issues that plague hospitals. Using state-of-the-art technological tools, MBC has provided customized solutions to various hospital revenue management issues.

Billing problems faced by hospitals

Erroneous billing is a huge problem affecting most hospitals and private practices. Without adequate resolution, hospitals risk losing thousands of dollars in revenue each year.

• Charge capturing & Claim problems: Many hospitals experience problems with incomplete claims, claim denials, and incomplete charge capturing. In many cases, the system is not properly designed, and medical billing professionals find it difficult to deal with problems of missing information. Hospitals require an exhaustive and comprehensive charge and claim verification procedure to ensure services are billed correctly. Unlike practice, hospitals have various people who handle the patient information; thus, processes are difficult to correct if the information is incomplete.
• Insurance Verification Problems: Insurance verification is an important step, and claims may be denied without proper verification. Eligibility issues may result in a loss of time and the requirement to rework the claims due to patient ineligibility.
• Complexity of Emergency Room Billing: Emergency room hospital billing is a complex issue, and many hospitals and private practices lose money due to improper tracking or the inability to report treatment under the urgent care criteria. Comprehensive experience and familiarity with ER billing are critical in ensuring higher patient collections.
• Hospitals pending Account Receivables: Cash generation through account receivables is critical as it ensures healthy revenue or cash flow streams within the hospitals. Timely identification of uncollected claims and regular follow-ups are required to convert uncollected claims into cash flow. Hospital AR generally runs into 120 days, which is highly detrimental to RCM.

The AR bucketing approach is the easiest and most logical approach to handling huge AR accounts, but many accounting departments do not follow it. Variations of payer-specific and code-specific AR are still a more remote concept for many hospitals managing their revenues in-house.

Why don't hospitals outsource in the first place?

• Most hospitals believe that in-house hospital billing professionals and practice administrators can autonomously deal with billing procedures and resolve issues.
• Hospitals are also wary of sharing sensitive data by outsourcing multimillion/ billion dollar collections.
• Hospitals fear losing control by having to depend on external experts for their billing requirements.
• Hospitals often believe that outsourcing medical billing requirements will be costly, though sometimes, it is difficult to predict the loss of revenue that is incurred due to erroneous billing by in-house staff.

The Solutions MBC can offer:

• MBC has set processes that ensure verification of each patient visit. With a dedicated account management team at hand, physicians and hospitals can be assured of comprehensive solutions and consistent support.
• The professionals at MBC have expertise in the evaluation of the structures, technology, and processes in medical billing departments, thereby identifying potential problem areas and helping streamline them better.
• The streamlined processes and use of advanced software tools at MBC ensure that each claim is comprehensively followed up to a logical resolution. Our standard systems and practices are designed to perfect the claim quality. Ultimately, the aim is to ensure that claims meet the standards of the payer requirements.
• Timely delivery of innovative solutions is a hallmark of MBC. Irrespective of how the receivables are submitted, claims are processed quickly. Regular aging reports identify old charges. The process of receiving data, checking the errors in data, making the relevant corrections, and submitting claims is done quickly.
• The MBC advantage you enjoy includes instant cash flow improvement, reduced administrative costs, consistent support and compliance with industry standards, better accountability, and immediate resolution of issues.

Medical Billers and Coders is a market leader with the proven capability of providing full Hospital Billing services. A strategic plan is put into place to deliver premium solutions to clients at affordable prices. A complete billing service suite that applies best-of-breed software and technical know-how streamlines processes and improves revenue generation for hospitals and physician practices.