E-Rad Imaging and Reporting services

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Healthcare Revenue Cycle Management
In the present state of affairs, the medical
billing companies have been facing anomalous
issues due to constant technical and software
up-gradation, initiation of novel medical reforms
and a multitude of insurance carrier policy
changes. Medical billing can be very demanding
and challenging for many medical firms which lack
skilled manpower to perform the tasks
efficiently. And thus to alleviate such concerns
Outsourcing comes into picture. The various
features which makes Outsourcing stand apart from
the traditional methods includes gt Cost The
total capital involved in Outsourcing includes
solely the partnering cost which is thin on the
ground compared to the labour cost, claim
processing costs and hardware and software cost
that are intricate in InHouse Medical Billing. An
average company spends about 30-40 of their
collections on Medical Billing, and this could be
saved through Outsourcing where the capital spent
on training and updating software could be
avoided. gt Accuracy Outsourcing comprises of
numerous medical coding companies possessing
skilled professionals capable to work under
pressue with high accuracy on ICD-10 coding set
and thus leads to minute errors in coding and
claim approvals. Whereas In-House Medical Billing
has massive impact on time management and payment
outcomes for heath providers and thus leads to
minimum level of accuracy due to the basic
training provided to the staff because of
transformation in the coding set from ICD-9 to
ICD-10. gt Compliancy Outsourcing provides with
the Updated Certified Compliance with knowledge
of relevant regulations and expertise in
compliance process to assist services and guide
offshore vendors with ultimate transparency which
is important to bring forward medical billing and
coding functions smoothly. gt Improved Cash
Flow With the essential technological
advancement and exceptional workforce to labour
on the medical coding and billing, the cash flow
would increase exponentially in Outsourcing
unlike the In-House Medical billing where the
Revenue Cycle affects drastically due to numerous
medical denials. By outsourcing medical billing,
companies can save a lot of time and money in
terms of salaries, office infrastructure,
purchasing, upgrading, and maintaining billing
software. With the reduction in overhead costs,
timely submission of claims and increased
reimbursements will result in increased revenues
for the firm.
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gt Turn-around Time The Contract signed during
the initial period leads to on time discharge of
the product thereby achieving the target in the
stipulated time. And since Indian Time Zone falls
under Indian Standard Time (IST) which is 9 hours
and 30 minutes ahead of the US Time Zone (GMT-4),
this would avail an added advantage of
outsourcing if provided to Indian vendors, as
they would deliver it 12 hours prior.
Accounts Receivable Management
Accounts Receivable is an important aspect of
businesses fundamental analysis. It is the
capital or balance of money due to the Providers
or Medical Billing Companies for the services or
treatment provided to the patients but not yet
paid back from their (patients) end. Whereas
Accounts Payable is the money owed by patients
for the services availed. The Staff keeps a
record of all the accounts and thereby generates
invoices to intimate patients regarding the
amount due in-case of unpaid/denied claims and
makes sure that the payment reaches on time.
Also, they strive to minimize the Accounts
Receivable Days (AR Days) and thereby debar the
aged AR. And thus maintains the stability of the
companys revenue cycle. gt Claim Denials is one
of the primary knots to be untied periodically
and to have a closer shave on it on a regular
basis a highly qualified staff is necessitated. A
competent pool of staff pinpoints the root cause
of claim denials and dissects it to identify the
problem area for the claim rejection and
subsequently works on it to correct them and
refill the claims without any further delay. Also
necessary steps are taken to avoid the denials
with similar patterns arising by-and-by. gt
Timely follow-up is an utmost requisite for any
firm that has direct linkage with the customers.
And thus a good Accounts Receivable (AR) Team
with a functional and logical plan will keep a
constant trace on the logged claims and makes
sure that the dues are settled within the
stipulated time of 30 days thereby ensuring no
underpayment or over-payment. gt A good rapport
with the customers paves the way for a smooth
functioning of the financial section and thus it
is highly mandated to maintain a good
relationship with the patients so as to avoid any
delay in the payments. And a level-headed medical
billing company keeps a constant follow-up with
the patients through emails and phone calls,
which makes it easier to receive the dues within
the given duration.
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gt Auditing provides efficiency and
profitability to any firm or organization. Such
frequent audit helps in maintaining the
transparency, provides assurance to the end users
and also helps in learning the areas of
improvement. The report thus generated includes
AR Reports, Outstanding Payments Reports, etc.
These reports thereby help the Medical Billing
Companies to achieve the objective in discharging
the functions.
Profitable Revenue The primary goal of all
Medical Billing Companies is to earn profit, not
only for themselves but also for the patients.
But in the current scenario, these companies face
huge revenue loss due to multiple areas of
governance which includes hours of investment in
medical coding services and digging ways to get
back the mislaid money on denied money
claims. Thereupon, outsourcing comes as a
redeemer for those companies which look forward
to enhance business operations. Establishing
tie-ups with e-Rad for medical coding services
helps in overcoming adverse factors such as
compliance control and self -pay. The added
merits for Outsourcing include gt Inaccurate
Coding. Giving primary importance to coding in
the foremost stage, helps in erasing most of the
denials undoubtedly and ultimately paves way for
a better revenue generation. E-Rad, a well
established vendor follows a systematic process
which includes coding, validation, rectification
and delivery. And this is solely possible with a
team of highly skilled and certified professional
working in accord with the policies of the
Company. gt Confidentiality. Patients entrust
the medical companies with their personal
information and safeguarding it holds the utmost
priority. Our company holds HIPAA compliance and
possess twin ISO certifications such as ISO
90012015 for operational processes and ISO
270012013 for ISMS (Information Security and
Management systems). These certifications hold
exceptional value in terms of security during
patient data transactions.
gt Universal Standards. With the constant
up-gradation in the field of information and
technology, it has become imperative to be at par
with the universal standards. Therefore, e-Rad
possesses an entourage of well-trained coding
technicians who exemplify exceptional medical
coding services such as ICD-9-CM, CPT-4, HCPCS
coding, ICD-10-CM, and ICD-10-AM.
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gt Customization. Outsourcing doesnt take over
the entire medical operational process but
instead undertakes an important section which
enhances the business operations. Also, an
important feature in Outsourcing includes
fashioning of the business operations as per the
requirement by the Medical Companies which
in-turn gives the company the ultimate powers to
run as per their norms and guidelines.
Medical Billing In a pool of competitors all
around, any organization for the matter of fact
needs to validate its stand in the market. And if
it isnt able to make it to the top 10 list, its
high time to check for the alternate proceedings
that would help attain the top spot. Medical
Outsourcing is one important modification that
needs to be undertaken for an exponential Revenue
growth. Not only does a physician or hospital
provider need to provide optimal patient care,
but they must also translate that quality care
into complete documentation and subsequent
accurate codes to survive and facilitate accurate
reimbursement. Outsourcing renders an added coign
of vantage. It includes
gt Trust is the most important business and
brand asset one can manage, especially in
relationships with customers, clients, employees,
or customers. The challenge with trust is that
one cannot buy it or force customers to believe
ones organization is trustworthy. The company
must work to earn trust through its services.
E-Rad, an offshore medical billing company
streamlines its services and strives to
accomplish and retain the trust by working
efficiently and delivers the aforementioned
output with exceptional accuracy in the given
window. Thus, it leaves no room for any revenue
loss but instead helps the company grow
substantially thereby retaining the Brand Value.
gt Referral system is an age old epitome for
success, be it for an individual or an
organization. But, one would refer others only if
they themselves are satisfied and impressed with
the performance and services provided. Thus,
gaining trust of existing clients take the
supreme stand as it paves way for other clients
to approach and invest. Outsourcing would not
only help to expand the client figures but would
also provide a huge flow of revenue and double
the growth of the company.
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gt Happy Patients. For most patients, going to
the hospital itself is timeconsuming, and in
certain cases, a bad experience. Not only do they
have to come to terms with the various medicines
and care they need to adhere to, but also
understand the costs involved. A knowledgeable
and friendly staff can ensure that your patients
remain happy throughout their stay, while all the
financial problems are handled by an expert
service provider. This means you won't have to
harry patients with financial matters and they
can deal directly with the professional medical
billing staff of the service provider. This helps
everyone to work more effectively and
efficiently. Why Opt for Medical Coding Services
from India? Outsourcing medical coding services
to India helps to save on time, effort and
resources. Moreover, the added benefit of
Outsourcing to Indian Companies is that the
Indian coders are professional, skilled and
well-versed in International Coding practises.
Also, the Indian companies constantly develop and
refine internal compliances of contract to meet
the requirements of the customers. e-Rad has a
professional and well-trained team of proficient
medical coders with relevant experience in
delivering high- quality medical coding services
within the stipulated TAT. The benefit doesnt
terminate here but instead opens door to several
added merits. It includes gt Whenever there
emerges a confrontation of any healthcare update,
our well equipped team contemporizes by
commencing a training session based on the novel
standards. This helps the medical billing
companies to concentrate on their code medical
billing functions without having to ponder upon
the coding process. This in-turn would lead to
decrease in denials, fasten AR follow-ups, cuts
down cost and ultimately boosts the chances of
reimbursements. gt Outsourcing acts as an
extension to your back office - its basically a
part of the practise. E-Rad remains responsive to
the needs of the company and pulls your burden to
alleviate administrative load from your practise
and services so that the transition becomes
smooth and easy. gt Indian Time Zone falls under
Indian Standard Time (IST) which is 9 hours and
30 minutes ahead of the US Time Zone (GMT -4),
this would avail an added advantage of
outsourcing if provided to Indian vendors, as the
medical billing and coding services could be
delivered 12 hours prior. gt Outsourcing
Credentiality and enrolment Services reduces the
operational costs to a considerable extent which
eliminates errors and eventually leads to delay
in enrolment. e-Rad manages every client on
one-on-one basis. This
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ensures that all the enrolment and credentialing
formalities are assiduously taken care with
faster processing and resolution of any enrolment
or credentialing issues right from filing the
applications to approvals on a priority basis.
Also it provides the medical company with more
time to concentrate on patients and building your
practises which eventually saves you from tons of
paperwork and hours of frustration. gt
Outsourcing the billing processes to a third
party vendor is truly safe as they have a HIPAA-
compliant and offer 100 security to safeguard
against any hacking attempts and ensure that the
data breaches are completely avoided. Thereby,
the personal details and private health
information of all patients are protected. gt
Outsourcing Disaster Recovery is a fundamental
decision thats need to be made. Being In-line
with the business operations at the time of
conjuncture is indeed challenging and during such
times of emergency Outsourcing allows the company
to carry out the business operations and services
smoothly.