Medical Billing Outsourcing, the Solution to Medical Insurance Billing NuancesPosted by admin on Oct 6, 2011 in Health Insurance | Comments Off on Medical Billing Outsourcing, the Solution to Medical Insurance Billing Nuances
In today’s world doctors and clinics alike face the issue of collecting from medical insurance companies who quite frankly do not have an interest in paying out. There is a required set of CPT codes that classify each patient case, and if the code or any of the patient’s information is even barely incorrect the insurance company will refuse to pay and demand a revision of the submitted claims. Once the claimsare resubmitted, there is a lag time in which the insurance company will actually pay, creating a lead time that doctors must face when trying to collect from their medical billing.
So what is the solution to this dynamic problem with medical insurance billing? How can the doctors get ahead of their account receivables and make sure the insurance companies are paying them what they deserve? How can the practices find the correct CPT codes, make sure all of the medical billing claims are processed correctly, and follow up with the insurance companies effectively?
The answer lies in outsourcing the medical billing to professional medical billing companies. Medical billing companies are able to handle all of the previously mentioned issues with ease, as they have all of the CPT codes handy, and the electronic medical records handy. What is great about a good medical billing company is they will end up paying for themselves with the increased amount of collections they are able to get for the doctors they work with. The doctors are given the opportunity of focusing more on the ins and outs of medicine; as opposed to the headache medical billing can create, especially with the more difficult insurance companies and their ever growing demands.
With a well-developed and excellent medical billing companycomes increased account receivable collections, more return on investment, and more money as a cash flow from the practice. Medical practices and physicians who have used medical billing companies to outsource the insurance billing have seen ROI in the thousands of percentiles, as medical billing companies sometimes work on a pure collections only commissions system.
So, what do you do if you are facing issues similar to the ones listed above? Outsource your medical billing and see what the hype is all about.