If you’re a physician, you may already be familiar with medical billing services and how difficult they can be to handle. You might be wondering how to improve the billing process at your practice or treatment facility.
It’s not easy to do everything perfectly when you’re part of a busy medical practice. You and the rest of the team need to balance providing a high level of patient care with completing the necessary administrative tasks to keep the facility running smoothly. Tasks related to medical billing can take up so much valuable time and energy, and it’s hard to find the correct people to train in handling this crucial administrative responsibility.
When a practice’s medical billing services result in claims being processed slowly or incorrectly, a medical practice’s revenue can also be negatively affected. Many physicians turn to third-party companies, like CodeMax Medical Billing, for handling medical billing. Contact our experts at 866.471.3267 today to learn about our services.
What Are Medical Billing Services?
Medical billing services are simply processes or tasks that support how health insurance claims are handled. A medical billing department or company can process, submit, and follow up on health insurance claims. The staff is typically specially trained to be knowledgeable about each insurance company’s health insurance plans and specific policies. Most staff members know all about medical coding, too. Excellent medical billing services can help patients and medical practices extract the highest payment level from insurance companies in a short amount of time. Medical billing services also pursue delinquent accounts and follow up on rejected claims.
How To Improve the Medical Billing Process
How does a medical billing department or company improve its workflow with tasks that may involve patients and insurance companies? Here are some common tips to improve medical billing services in general:
- Start by clarifying the collections process — Transparent communication with patients is essential for efficient medical billing efforts. During the intake interview, speak to new patients about their responsibility for paying for medical services provided. You can even include the details in the paperwork that patients must fill out before being admitted into care.
- Maintain and update patient files — Precise details are essential for accurate medical billing efforts. Instruct staff to verify patient information, including insurance details, at each visit. Be sure to double-check details such as the policy number and subscriber information. This information must match up with insurers’ records.
- Automate basic billing tasks — Having staff members do tasks that are easily accomplished by automated systems is a drag on your business. Medical professionals and other staff members should be free to focus on more customized and patient-centric services. Routine and repetitive tasks are best left to available technology.
Ultimately, you must review your practice’s medical billing cycle from the first patient contact through check deposit. This will enable you to improve the process and capture reimbursements more efficiently, thereby increasing cash flow.
How Outsourcing Medical Billing Services Helps You
Have you considered outsourcing the medical billing process your practice goes through? There is nothing wrong with using third-party services to make your company more efficient.
While outsourcing medical billing isn’t right for every medical practice, it provides a controlled and sustainable approach to managing medical claims. As a medical practice’s patient load, staffing levels, and other dynamics evolve, an outsourced medical billing firm can typically maintain better consistency in its approach.
Other reasons why your medical practice should consider outsourcing medical billing services include the following:
- Faster insurance payments — When specialists handle medical billing, errors are minimized, and reimbursements are released in a shorter amount of time. Expert companies that offer services like this allow you to enjoy streamlined workflows and increased revenue. Overall, effective medical billing services result in a greater earning potential for your practice.
- Reduced costs — Maintaining an in-house medical billing department can come with many hidden expenses. You need to factor in training costs, salaries, hardware, and software costs. Furthermore, not everyone your hire or train will stay; some may leave or get fired. You may have to train medical billers to keep your in-house department staffed.
- Ensured compliance — Health care has ever-changing regulations that make medical billing extremely difficult to do correctly. There are always new protocols to be aware of, including changes in Medicare, Medicaid, and insurance company policies. Medical billing specialists stay on top of changes like these because it’s their job to do so. Third-party medical billers strive to always submit clean medical claims.
Because turning to medical billing experts typically results in quicker and error-free services, outsourcing can also lead to happier and more satisfied patients. Outsourcing also means that you’re reducing the responsibilities of your team. In doing so, your staff can better attend to patients and their needs.
Learn More About CodeMax Medical Billing’s Services
While the benefits of outsourcing medical billing are numerous, the key to success and increased revenue is to outsource wisely. Call 866.471.3267 today to contact CodeMax Medical Billing and learn about our services.
