Choosing the Right Internal Medicine Billing Solution

1
Choosing the Right Internal Medicine Billing
Solution
Medical Billers and Coders
2
According to a Physician Compensation survey
conducted by Sullivan, Cotter, and Associates,
the specialty physicians across the US saw a 1.9
increase in their compensation in 2014. The
internal medicine physicians also experienced a
two percent change in their compensation between
2013 and 2014. The median total cash compensation
for them recorded in 2014 is 213,428. Even
though the internal medicine specialty witnessed
a slight increase in compensation this year, many
internists continue to grapple with a shrinking
bottom-line. This is because treatment by an
internal medicine physician depends on or
collaborates with different diagnostic
laboratories and care to justify. Due to such
varied aspects in the treatment episode, the
medical billing and coding become complicated.
The medical claims for internists require joint
coding of services. They also have to deal with a
variety of separate codes as they have to treat
various health disorders.
3

• Did you know that internists have the
  fifth-highest burnout rate among physicians? On
  average, they see 20 30 patients a day, working
  for long hours every week. The pressure caused by
  healthcare reforms has heightened their workload.
  It has been observed that internists spend around
  10 or more hours on paperwork and other
  miscellaneous tasks every week. Some of the most
  commonly faced challenges are
• Failing to keep a track of the changes to
  ICD-9-CM and CPT codes for various treatment
  procedures included in internal medicine. Regular
  changes in the ICD-9-CM, HCPCS, and CPT codes
  have complicated the billing procedure for
  internal medicine physicians
• Not coding peripheral tests and processes such as
  removal of skin tags and injections in an
  accurate manner

4
Without a skilled team of coders and billers,
internists can face serious troubles in
transitioning to ICD-10 by 2015. The rising costs
and declining reimbursements are driving many
internists to quit their private practices. Many
physicians have started joining larger groups for
avoiding the hassles of running a medical office
in the current US healthcare industry. The
dependence on other practitioners complicates the
billing procedure for internists. However, they
can streamline their revenue cycle and ensure
timely payments through effective medical billing
services and coding practices. In order to
mitigate the difficulties related to billing and
administration, many internal medicine practices
are taking recourse to outsource their RCM to
billing agencies.
5

• Companies like MedicalBillersandCoders.com have
  been helping internists streamline the key
  financial and administrative tasks through
  effective RCM solutions. The providers have been
  able to boost their productivity and ensure
  better patient outcomes with the help of
  outsourcing.
• MBC has a team of skilled coders and billers that
  offer effective billing solutions to over 40
  medical specialties. They are trained in managing
  the key factors of a revenue cycle including
• Medical coding
• Insurance verification
• Patient enrollment
• Insurance authorization
• Accounts reconciling
• Follow-up with insurance companies
• Accounts receivable management

6
With the help of an expert team, internists have
been able to increase their profitability and
reduce the administrative workload. While a
dedicated team handles claims submission,
follow-ups, and compliance to healthcare reforms,
providers have been able to streamline their
business functions and get more done in less
time.
7
Email info_at_medicalbillersandcoders.comFax No
888-316-4566Toll Free No 888-357-3226