5 Strategies to Improve Medical Claims Billing Process
Outsourcing the medical billing and coding process in the United States is on the rise with the medical billing outsourcing market size poised to reach USD 7.8 billion by 2026, according to a report published in 2019.
To cope with the uncertainty and instability in the wake of the COVID-19 pandemic, most medical billing and coding companies have revised their packages to become more economical for the medical practitioners and facilities, therefore 2021 is the best year to outsource your billing and coding process.
As a medical practitioner or healthcare facility planning on outsourcing your billing and coding process in order to focus on providing best healthcare service to your patients without being distracted by the tedious process of billing and coding as well as to reduce errors, save time and cut the expenses, you must evaluate the medical billing and coding company on these crucial points: relevant experience, state of the art technological system, provision of suitable training resources, well-trained staff and transparency in communication from the staff.
Adequate experience in your area of specialization
Your ideal medical billing and coding company should be expert as well as experienced in handling clients from the same area of specialization as you because the technicalities of general practice and specialization differ.
Moreover, a company operating in your field will have up to date knowledge of the new regulations and know how to avoid mistakes and denials specific to your area of specialization.
Letting a nascent company that has not handled work of your area of specialty in particular, is a huge gamble which can lead to costly mistakes. Solid reviews and referrals from other medical practices can be relied upon in this regard.
Integration of modern technology and security network
Evaluate the technological advancement and sophistication of security systems of the medical billing and coding company of your choice.
Latest software integrated with Electronic Health Record for optimal use is a must-have in order to ensure swift and smooth data sharing, decrease errors leading to denials and cut-offs and increase the accuracy of claims. In addition to that, state of the art security system for the protection of data should be in place that can combat the ever-changing data threats and safeguard the information of their clients.
Transparent communication
The medical billing and coding company of your choice should have prompt, effective and transparent channels of communication.
Active listening is a very important component of good communication and should be employed while dealing with the representatives of the healthcare facility as well as the insurance company. The staff should be quick to respond to you, especially in case of an emergency and be able to resolve your issues effectively.
Your ideal company should be expected to provide you with monthly reports and supporting documents.
Provision of training resources
One of the traits of an excellent medical billing and coding company is provision of webinars, live training sessions, in-house workshops, and other self-help educational resources to the medical practitioners and facilities.
Not only does offering training resources reinforce the outsourcer's confidence in the professional competence of the company but also establishes the point that the company is transparent in its functions and thus creates good-will with the practice.
Well-trained and organized staff
The best medical billing and coding companies work on the extensive training and acquisition of latest certification of their staff in order to equip them to deal with the constantly evolving regulations and procedures of this market.
Not only does that help the staff with resolving the current issues but also prepares them for the changes in future. Besides being trained, the staff needs to be highly organized so that they can easily access any piece of financial information without wasting any time.
Another great quality possessed by the billing and coding staff is attention-to-detail as any minute discrepancy in records can lead to an error and eventually loss of revenue for the company. Other qualities of an effective billing and coding staff include problem solving, conflict management, time management, reliability and positive attitude combined with the ability to work well in a team.
Taking these traits into consideration will help you find the perfect medical billing and coding company. Finding the perfect medical billing and coding company for your healthcare facility will take your company's revenue performance to new heights.
At Avernus Medical Billing, we specialize in providing medical billing and coding services all over USA with the help of certified professionals who will ensure that your work is billed and charged, minimizing the risk of losing income and federal non-compliance.
For further queries, call us at at +1 817-989-6949 or send us a mail at info@avernuscorp.com and we will be eager to serve you.