The practice of outsourcing medical billing can help healthcare organizations and private practices reduce operational costs. Moreover, it helps practices focus more on patient care.
When one of our clients based out of Ohio realized that cash receipts were not keeping track with the service offerings by the practice physicians, the clinic decided to search for a more focused billing and collection solution provider.
They needed a solution provider who would allow them to utilize their existing technology but provide enhancements to the billing, collection, and reporting requirements. The managers on the client side agreed their way for a new medical billing service provider and they stated their requirements as:
- The company should provide a solution that will suit its existing practice management system.
- Complete guidance and consultation to their physicians and internal team on coding and billing practices.
- The company should have proven abilities to reduce denials, improve claim rejection, and collection procedures.
During the primary research stage, the client-side manager helped us investigate multiple potential threats and challenges they were facing. The client stated its challenges as:
- Improper dictation
- Backlog of outstanding charges
These challenges needed to be handled in time and that’s where 24/7 Medical Billing Services entered the practice and acquired their operations.
We decided to work with the client for charge entry, demographic registration, medical coding, and A/R (accounts receivables) follow-up.
For 4 months we worked closely with the client to spot important issues to solve. 24/7 Medical Billing Services started with improving image resolution to reduce charge entry and demographics errors. We organized medical reports for simplified retrieval and recommended improving dictation reports to smoothen reimbursements. We also deployed a quality control team to validate processed files. Our operations and IT teams worked together as a single team to build a solution to improve accuracy, efficiency, and productivity. We sent daily productivity reports to the client together with regular updates on specific insurance company policies.
Because of 24/7 Medical Billing Services, we were able to process about 7000 CPTs daily with very minimal errors (0.5 to 0.75 percent).
We helped the client increase the number of clean claims and reduce turnaround time. The client understood financial trends better because of data driven reporting provided by the 24/7 Medical Billing Services team.
The client could increase accuracy and decrease turnaround times, everything happened while using less time and resources to manage the relationship. This enabled the client team to spend time on the relationships that truly matter and deliver better care for their patients.
Does your practice need an outsourced team of medical billers and coders?
Medical practices are used to handle their medical billing with an internal team. But, professional agencies now offer billing services that can reduce the hassle of dealing with their own billing. If you are one of those practices looking for a profitable solution for your practice, medical billing outsourcing is the only option you can focus more on patient care.
Reasons to Outsource Your Medical Billing
- Lower Costs
- Make Fixed Expenses Variable
- Get Paid Faster
- Take the Stress off Your Employees
- Focus on What You Do Best
- Greater Consistency
- Keep Up with Healthcare Changes
- Payment Reminders
- Improved Returns
If you are looking for a strong solution at reasonable costs, get in touch with the team 24/7 Medical Billing and we will be happy to guide you on outsourcing medical billing services.