Maintaining your medical billing management internally may seem to be a good choice for your practice, many providers feel keeping billing “in house” allows them more control over both coding and billing. However, numerous other practices have discovered the benefits of outsourcing their medical billing management to a team of professional coders and billing experts. There are three factors that signal it may be time to consider outsourcing your medical billing management:
Reduction in Reimbursements The lifeline to any medical practice is receiving the optimal reimbursement for every patient visit or procedure. This can be increasingly difficult as private payers have a multitude of criteria for claims and payouts. Healthcare Information Services (HIS) offers revenue cycle management and billing services that focus on efficient, maximized reimbursement for every patient visit or performed procedure. The 65+ professional certified coders are committed to increasing your reimbursement levels while maintaining compliance.
Changes in Codes and Procedures When ICD-10 coding system is eventually implemented, it will be a complete and universal overhaul of the current medical coding system. It will change the way coding is completed and utilizes 10 to 20 times as many codes as are currently being used. Medical practices need to be acutely aware of these changes since insurance companies will automatically deny any claim that does not comply with the new coding system. HIS’ team of 65+ Certified coders are not only efficient, they are also educated on the current coding laws and regulations and will ensure your practice is meeting all coding requirements.
Efficiency Impact Revenue cycle and billing management can be a time consuming and formidable task for any medical office. The time spent by doctors and medical support personnel to ensure every patient visit and procedure is properly coded and billed can impact both practice efficiency and patient care. By transitioning to outsourced medical billing and revenue cycle management services your practice will eliminate the efficiency impact by utilizing trained coders whose sole job is to ensure each claim is properly coded and billed.