Efficient medical billing services can vastly improve patient experience and allow health care providers to maximize their revenue. Some treatment facilities, such as addiction treatment centers, are so small that they don’t have in-house billing services. Instead, they may rely on an external billing department in the form of a company acting as a liaison between them and patients or insurance companies.
If your health care facility is having trouble handling financial transactions, contact CodeMax Medical Billing right away by calling 866.471.3267 or completing our convenient online form. Our team is highly experienced with medical billing services, and we can help your health care facility too.
What Do Medical Billing Services Handle?
Most medical billing services cover more than just patient payments. There’s more to medical billing than simple financial transactions. Other services they also handle:
- Patient scheduling and reminders – Patient registration is the first step of the medical billing process. The services include collecting patient demographic information, appointment scheduling, and health payer coverage checking.
- Patient enrollment – Insurance companies need access to patient information, which can help prevent claim denial and payment delays. Patient enrollment is necessary to ensure that insurance companies can check demographic and insurance information collected from the hospital registration system.
- Verification – Obtaining insurance verifications is a critical step in the medical billing process. This involves verifying if the patient’s coverage is active as well as details such as patient names, ID numbers, dates of birth, copayments, deductibles, coinsurances, exclusions, lifetime maximums, and other subscriber information. Efficient patient eligibility verification prevents claim denials due to erroneous patient information.
- Preauthorization – These preauthorizations are typically for specific physician-ordered clinical procedures, medical tests, medications, and needed medical devices. Timely preauthorization prevents denials or delays. Efficient insurance authorization services relieve physicians of this task.
- Medical coding – AAPC-certified coders will assign the right diagnostic and treatment codes as well as modifiers on claims based on the information in the medical record. These codes describe the patient’s symptoms or illnesses and the services provided. Skilled coders are knowledgeable about the CPT, HCPCS, and ICD-10 codes, too. Medical coding services help avoid claim denials.
- Charge entry and claim submission – Charges for services performed are entered in the patient’s account. Appropriate charges are assigned to the medical codes entered. The charges are reviewed for accuracy before billing. After the charge entry, claims are submitted to the insurer for payment. Complex claim submission processes and review and edit claims are checked by experts for errors before they’re sent.
- Financial reporting – Most companies handling medical billing will also provide customized financial reports on a weekly or monthly basis. This allows their clients to track and analyze their key performance indicators (KPIs).
What Are the Advantages of Outsourcing Medical Billing?
When you are outsourcing medical billing, you’re choosing to trust medical billing experts and new technology. A professional third party, such as CodeMax, can produce many benefits for your health care facility, including:
- Quickly check on patient insurance eligibility
- Safeguard patient data
- Boost productivity
- Improve patient engagement and customer service
- Stay compliant with various regulations
Outsourcing medical billing tasks to professional companies is the best choice for health care providers like addiction treatment centers and other medical practices. Health care professionals can focus on healing and treatment, which is what they do best, while a skilled third party manages medical billing, coding, and processing procedures. The patients of health care facilities will also benefit from this system, as they’ll have less trouble interfacing with their insurance companies.
Explore More About CodeMax Medical Billing’s Services
Is your health care facility having trouble with managing medical billing services? CodeMax Medical Billing is ready to help. Contact our team today by calling 866.471.3267 or completing our online form.
