medical billing outsourcing - PowerPoint PPT Presentation

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medical billing outsourcing

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Employment opportunities for medical billing and coding professionals like technicians, coders, billers, etc. are expected to soar high now. The Bureau of Labor Statistics (BLS) estimates a 22% hike in medical billing and coding jobs from 2012 to 2022, where the number of employment in the former is around 186,000 and 227,000 in the latter. Leading business magazine, Forbes reports the US healthcare industry is worth three trillion dollars in the beginning of 2015. – PowerPoint PPT presentation

Number of Views:48
Updated: 27 October 2015
Slides: 6
Provided by: medical_billing
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Transcript and Presenter's Notes

Title: medical billing outsourcing


1
24/7 Medical Billing Services
  • Address
  • 24/7 Medical Billing Services16192 Coastal
    Hwy,Lewes, DE 19958USA
  • Phone 1 888-502-0537 Website
    http//www.247medicalbillingservices.com
  • Email info_at_247medicalbillingservices.com

2
SELECTING THE RIGHT MEDICAL BILLING SERVICE
  • Revenue collection is the backbone of every
    business but it is more so in the case of medical
    practices as they cannot stop attending patients
    all of a sudden and the depletion of money is
    slow and steady. This makes it difficult to
    detect and gain control over finances. It is thus
    extremely important to keep a tab and analyze the
    revenue cycle regularly.
  • Capability and Point of Contact
  • This is one of the primary things a provider
    should ask a billing vendor their expertise and
    experience in handling billing for specific
    specialty. The provider should know whether the
    billing partner can handle the entire process
    given the size of his practice and average number
    of patient visits.If you run a cardiology
    practice, you may want to ask the company if you
    will have a designation personnel to review the
    cardiology billing and ensure accurate reports
    are sent to you regularly. This person should
    ideally also be your 24/7 point of contact.

3
Medical billing services
  • Qualification and Experience of Staff
  • The most common reason for claim rejections
    and denials is billing errors. An experienced
    staff will know the terminologies, latest CPT
    (current procedural terminologies) and ICD
    (international classification of diseases) codes.
    The billing vendor should have CPC certified
    ICD-10 coders considering the approaching
    deadline for ICD-10 implementation, October 1,
    2015.
  • Support for Training and Billing
  • With the constantly evolving healthcare
    reforms like Meaningful Use (MU), for improving
    care provision, the usage of electronic health
    records (EHR) has increased manifold. The billing
    company should have the infrastructure and
    experience to handle the transition, and the
    knowledge of using various practice management or
    billing software.

4
Medical billing services
  • Timeline for Reimbursement
  • A billing company should ideally be able to
    file your claims within 24 48 hours and
    maintain the lowest possible account receivable
    (AR) bucket as applicable for specific medical
    specialties. In case of any delay in
    reimbursements, one should pre-decide the amount
    to be deducted or reduced from the fees. It is
    good to have a process in which the teams can
    have simultaneous access to the progress status
    of the filed claims.
  • AR Recovery Team
  • If theres one team that you should pay a
    little extra for, it is the AR team for the
    religious follows ups they do. Off late pending
    ARs are a common thing considering the number of
    rejections and denials due to compliance issues.
    This team should be conversant with understanding
    the explanation of benefits (EOB) well.

5
Thank You
  • Get in touch with us.
  • 24/7 Medical Billing Services
  • 16192 Coastal Hwy,
  • Lewes, DE 19958
  • USA
  • Phone 1 888-502-0537
  • Websitehttp//www.247medicalbillingservices.com
  • Email info_at_247medicalbillingservices.com
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