Operating your cardiology practice is difficult enough as a cardiologist, without having to chase patients down and call them on a daily basis in order to collect. With that said, many cardiology clinics and medical offices alike aren’t getting paid, or are struggling to track unpaid bills.
Whether your office is small, or whether you operate out of larger facilities (such as a hospital setting) as a cardiologist, you have to employ the right medical billing techniques in order to collect payments in a timely and fulfilled manner. These are three effective cardiology billing strategies to employ into your medical practice to ensure you collect on time and avoid future unpaid accounts.
Catch denials early
By catching denials prior to sending them out, you negate the risk of an insurer later turning around and telling you they won’t pay. To improve your internal organization and records of patient information for denails and cardiology billing, robust practice management software will not only red flag a patient and faulty insurance, but also potential issues with an insurer, who hasn’t paid on certain accounts or procedures in the past.
This software for cardiology billing also helps to ensure claims won’t get turned down, in turn, you won’t run the risk of losing on an unpaid debt by a patient. Catching claims, mistakes, and inaccuracies early, and prior to sending them out to the payer, ensures that insurance companies will pay, and you won’t be stuck with a pile of unpaid bills.
Submit more than once
Submitting more than one claim to insurers is smart practice by your cardiology billing processes. About 60% of denied, lost, or uncollected claims are never followed up on; this means you are missing out on an opportunity to collect revenue into your practice.
Sometimes you can’t receive first time payouts from insurers on every single claim; this doesn’t mean you should simply drop it, and take the hit. Following up, resubmitting claims, and contacting insurers until they give you an answer or pay the claim, will ensure you are increasing your bottom line, and minimizing that 60% of unpaid or uncollected debts in your practice.
Update information regularly
This is where quality cardiology billing and coding software comes into play. If you notice certain claims are continually being turned down when you submit them to insurers, this might mean a code is no longer up to date. If you don’t employ software, it is imperative to do so immediately. If your office can’t handle billing, consider hiring a third party company to work for you. Not only will they stay on top of new code changes, new methods to file claims, and how to go about uncollected debts, they are also going to minimize the occurrence of unpaid claims by insurers.
No matter how your practice goes about cardiology medical billing, whether you simply use the latest software or outsource, make sure everything is up to date, that you are constantly following up on claims, and that your practice is on top of denials, before they occur. These simple changes will not only result in higher revenues, but will also help your practice grow, and avoid hangups, with insurers who were previously denying your payment claims.
Federally Qualified Health Centers (or FQHCs) are organizations that are able to receive grants under the Public Health Act. Most FQHCs service areas that have been traditionally underserved and they tend to offer residents of the area a sliding fee scale as well as providing them with comprehensive services.
With that being said, maintaining the revenue stream for such an organization can be more complex that what most people may believe. Within FQHCs, there are a variety of departments that need to efficiently collaborate and work so that revenue can be maximized via patient billings.
Billing Challenges Faced by FQHCs
Consistently, healthcare centers that fall into this category seek revenue improvement, although they are extremely challenged by their static as well as declining volumes of patients, patient case reclassifications and regulatory framework. FQHCs tend to center their focus on the following methods as a measure of improving FQHC patient billing processes, financial health, and revenue streams.
Understanding the Overall Cycle of the Revenue
Having a clear understanding of the overall cycle being utilized in the revenue collection is an accepted and healthy practice when trying to optimize revenue streams. It is imperative that there is a clear process of billing that begins when a patient schedules an appointment and completes once the patients has been attended to and their debts have been cleared. When addressing the needs of a FQHC, the process should take into account the following:
- Patient registration
- Entry fee/charge
- Payment posting
- Accounts receivable follow-up
Capture All Charges and Review and Update Fee Schedules
During the process of billing, the staff of an FQHC should collect and enter all information accurately pertaining to demographics and insurance for the particular patient. The centers should have the following currently documented and on file for effective billing: home address, birth dates, telephone numbers, and insurance information.
In order to optimize the collection of revenue for an FQHC, the centers will need to reconcile their encounter forms and health schedules daily. This will allow for the health centers to track encounter forms that may have been (accidentally) missed and therefore decreases the avenues for lost revenue.
Reduce Out-of-Network Revenue Leakage
Most FQHCs have been known to have hired their physicians quite aggressively. Beyond the hiring technique, office related infrastructure expenses and incremental salaries can prove to be quite a burden on income statements.
It is best that health centers not acquire physician services and practices before taking the proper steps in regards to the limiting and prevention of out of network referrals. FQHCs should optimize their practices thoroughly and efficiently.
It is acceptable and needed for a health center to make proper use of their vendor applications that are able to deliver advanced clinical documentation features that coordinate proper care across a clinically integrated network. This will afford the center with a proper manner in which to shape and track scheduling as well as patient referrals.
Moreover, to maximize the revenue stream of an FQHC, there will need to be clear communication to the patients regarding the health centers financial and billing policies. There will need to be documentation detailing the policies that each patient will be required to read and sign. This documentation will need to expressly explain cancellation or collection of the institution’s policies, insurance information, authorization mechanisms, and terms of payment.
Being a surgeon has never been an easy profession, from working with patients to figuring out finances. This is because it involves doing a lot of things that are either time demanding or remorseful. Among the social challenge a doctor face is surgery billing.
This is because of the several issues associated with this and also due to the fact that it has all to do with dealing with other humans, a hard thing to do. So whether you are a surgeon or a surgery clinic manager, the following are some of the most effective strategies that you can apply to your surgery billing systems in order to make this activity as efficient as possible:
1. Maintaining electronic health records of all your patients
Record keeping is one of the most paramount ways of making surgery as efficient as possible. This is because all the records of all the patients can be traced and determined if they cleared their bills or not. Electronic record keeping is advantageous because it is not prone to alteration or misplacement.
This simple yet effective surgery billing technique is among the safest ways of keeping records, thanks to cloud computing, all the records ever kept for a particular patient can be retrieved without any problems since cloud storage is some how a permanent way these records can be stored. Many surgery billing service providers, like maximizedrevenue.com focus on this technique from the start when consulting with surgeons and in-house billing operations.
2. Adopting a medical billing software
Medical billing software can be another good thing for you to consider. This is because such software makes things easier and more professional. On the other hand, this software makes it possible for the doctor to communicate directly to the patient through such media as the internet or even telephone calls. Adopting top medical billing software is an assurance that your billing system will be improved immensely.
3. Creating a one on one sessions with the patients
This will help improve the relationship between the surgeons and the patients hence enabling them to know the financial status of their clients better. When the doctor knows about the financial status of his patient better, he can come up with ways in which the bills can be settled in a more efficient and smooth way and this way, the billing system will be improved and no further problems will be encountered.
4. Availing the surgery bills to the patients on time
What has been a problem to billing systems in the past is lack of punctuality in the submission of surgery bills to the patients by the surgeons. This problem can be solved and billing systems improved by a punctual and timely submission of surgery bills to the clients by the doctors.
5. Talking to the patients about their insurance policies
In most cases, insurance policies do not cover for major surgery operations. In this case, it is wise for the professional to talk to their clients about this before commencing the procedure, this way, they will help them determine whether their insurer covers for the kind of procedure they are about to undertake .
If the insurer did not include the procedure in their statements, they will have time to inquire about that on time before it is too late. This way, cases of delayed settlement of surgery bills will be eliminated and this will to improve the patient billing system.
In the past, health care providers did not have to go out of their way to market themselves. However, there has been a shift in the way people find their doctors, surgeons, dentists, etc.
A medical professional can no longer rely on word of mouth alone, but has to provide a way for people to find them and get the information they are looking for online. For many of these professionals, SEO has been the cornerstone to getting quality new patient leads, helping to grow their medical practice.
While some specialists take SEO into their own hands, some recruit the help of experienced SEO experts. Whatever the case may be for your practice, we’ve compiled some great resources that will help cultivate strategic insight for an effective SEO program. The following website and online resources offer valuable information that can help medical providers market themselves and optimize their web presence in a professional and ethical way.
SEO Survival Guide for Aesthetic Surgeons
The SEO Survival Guide for Aesthetic Surgeons is a highly professional and effective white paper design to help aesthetic surgeons gain information they need to develop a brand as well as a long term SEO strategy that includes the key points to help achieve high rankings.
Surgeon must produce a higher level of quality on their sites and social media points of contact than the average business. It is essential to develop a trustworthy brand and to carry that through the entire content of each website, social media page, and ad. In addition to offering great insights when it comes to surgeon SEO strategies, this site offers in depth information to help health professionals achieve the online image that will not only attract people to their site, but also into their offices.
Medical SEO & Internet Marketing
Focuses strongly on the old versus the new SEO strategies, Medical SEO & Internet Marketing offers a blended approach to optimizing a medical professionals web presence. While old strategies focused on short term goals, the newer strategies that work properly with the evolution of the Google search algorithms, or formulae for ranking search results, are supported on this website.
This site teaches methods that go beyond ‘keyword stuffing’ and random link-building strategies that can actually result in a drop in ranking. Long term strategies are developed with this method including informative content, visually appealing images, and ad campaigns.
Kissmetrics Social Media + SEO
Kissmetrics has a great deal of information about SEO that can help medical professionals make decisions about how to handle their own campaign. When reviewing https://blog.kissmetrics.com/social-media-and-seo/, it becomes obvious that social media has become tightly linked with SEO. The importance of using social media platforms, such as Facebook, continues to gain momentum and has become ingrained in search engine ranking results.
Chiro Built is a website design site that does a great job of pointing out multiple aspects of SEO marketing while keeping in mind other issues that are important to a business. For example, the site keeps branding in mind so that you can get traffic to your site but also attract your target audience and present yourself in a way that will dovetail with the image you have developed in your office and community. The development of the site is highly visual and linked to SEO in a way that is tasteful for the medical community. To learn more, visit ChiroBuilt.com
Dentistry IQ is a useful site that gives beneficial information not only for dentists but for other health care professionals looking for a way to increase their web presence while maintaining a professional image. At Dentistry IQ, the site gives a list of questions to ask an SEO team so that you can choose SEO help that will optimize Google rankings without wasting time or money.
In the medical community, so many clinics, practices, and medical centers are presented with various problems regarding patient billing on a day to day basis. There are all sorts of insurance compliance regulations, insurance coverage assessment issues, patient copay management, and various other aspects of practice administration the billing process quite difficult at times.
Gynecologists and OB/GYN practices in particular are constantly looking for ways to improve the efficiency of their patient billing process and reduce the amount of time sifting through paperwork or spreadsheets trying to determine what is the most effective way to solve a billing problem in regards to billing.
The billing process can be especially troublesome in an OB/GYN clinic as the reimbursement structure and potential growth issues with respect to an OB/GYN clinic can present a variety of problems. However, with the incorporation of proper OB/GYN billing practices, these clinics can overcome many problems that they might face.
Enter: OB/GYN Billing Services from Practice Management
Practice Management is a reputable company that offers a variety of different OB/GYN billing services to meet the needs of any OB/GYN clinic. Practice Management understands how daunting the tasks of complying with federal and state regulations, managing financial data, and focusing on business practice all while trying to meet the patient population’s needs, can be.
In using high quality technologies and software, individually approaching each client based on their needs, and communicating with the client in all scenarios, Practice Management has found a way to significantly reduce the potential for problems to arise in OB/GYN billing and even if problems do arise, Practice Management has an excellent troubleshooting process.
OB/GYN Billing & Coding Expertise
With high quality understanding of coding with respect to service procedures, Practice Management has the ability to analyze every single coding procedure that is carried out by a client. A common problem in OB/GYN billing is that codes for certain procedures or services become outdated and the billing cycle is not able to consider the services associated with these codes in its roster. Practice Management is able to assess the status and the utility of these codes and make modifications when necessary.
Optimize Claims Reimbursements & Revenue Cycles
Practice Management holds itself to a high standard regarding its effectiveness, and guarantees clients that the billing claim will be filed correctly the first time so that there is no opportunity for mistakes to come back around and negatively impact the clinic’s wellbeing.
Once a client has completed the OB/GYN billing and coding process with the help of Practice Management, the assistance does not stop there. Practice Management is able to oversee the proceedings of revenue cycles that continue through the client’s existence and ensure that there is a level of maintenance in the billing that occurs moving forward.
OB/GYN Billing Consulting Services
If the clinic has a problem that requires only temporary solutions, Practice Management can operate on a consultative basis, which allows flexibility in the relationship between the client and the claim manager but also ensures that there is some level involvement on the part of the claim manager to improve OB/GYN billing outcomes.
Overall, the OB/GYN billing process poses many threats to the financial well-being of many clinics. If the clinic administration finds that it is overloaded with billing claims and has trouble sorting through the immense burden of the billing process, enlisting the services of Practice Management should be the first step taken.
To learn more about Practice Management, visit MaximizedRevenue.com and check out the company’s OB/GYN billing services for gynecologists. In addition to specializing in OB/GYN billing, Practice Management also offers expertise in many other facets of medical billing, including FQHC billing, cardiology billing, pediatric billing, and more more..
Dr. Mik Hamilton of Hamilton Chiropractic is a highly-recognized chiropractor in Berkeley and throughout the Bay Area of California. By Dr. Mik Hamilton’s advocacy of some of the most innovative approaches to chiropractic care, he is defined as a pioneer in the profession and is known as one of the most renowned chiropractors in the state of California.
Dr. Mik Hamilton provides patients with some of the latest and most innovative technologies and has been doing so for over 40 years. With extensive experience in providing state-of-the-art chiropractic care to thousands of patients, Hamilton Chiropractic now sets the standard for exceptional chiropractic care in Berkeley, CA.
Innovative Chiropractic Care in Berkeley, CA
Hamilton Chiropractic has also trained various other chiropractors in what is called the Pettibon System – a unique and highly-effective form of chiropractic care that utilizes the science of bio-mechanics as well as gravity’s role on how we move. Hamilton Chiropractic in Berkeley has actually served as research and training centre for The Pettibon System.
Dr. Mik Hamilton explains himself that based on decades of experience, they are able to ascertain which approaches are best-suited to each and every individual patient. Helping each patient to achieve their specific health goal is always the principal objective at Hamilton Chiropractic. Beyond what most other chiropractors offer, Hamilton Chiropractic serves as a uniquely holistic chiropractic health care centre in Berkeley- where hearts deeply care and hands effectively heal.
By the utilization of some of the most advanced techniques in chiropractic care, Dr. Hamilton provides most effective treatment for all types of pain and caters for individuals of all ages and needs.
K-laser Treatment Meets Chiropractic
The most noteworthy and recent of technologically-advanced adoptions of Hamilton Chiropractic has undoubtedly been the K-Laser. This state-of-the-art K laser system offers incredible benefits for various types of healing, which is now available to all of Dr. Hamilton’s patients. Essentially, the K-Laser is surely becoming the ??best friend’ of patients and chiropractors in admiration, alike. The technology behind the K-Laser works it magic by employing a form of high power laser therapy that’s designed to boost tissue regeneration all the while reducing and relieving pain.
The far-reaching and most outstanding benefits of the K-Laser encompasses its affordability, its ability to profoundly accelerate the healing process in a manner that is completely painless. The K-laser treatment, which is then free of any side effects, is the perfect supplement to standard chiropractic treatments and this is proven by all the more chiropractors following in Dr. Hamilton’s footsteps.
The K-Laser indeed provides significant relief of pain from a variety of conditions, including: arthritis, acute or chronic pain, carpal tunnel syndrome, tendonitis, fibromyalgia, plantar fasciitis, hip and back pain, tennis elbow, muscle strain, soft tissue injuries, tendonitis, rotator cuff, shoulder, knee and hip pain, and neuropathy. How the K laser works on a scientific level involves the transmission of photons to the skin that aims to excite the cells, and ultimately the beams promote a wide spectrum of inspiring cellular activities.
The end product of this process entails the optimal functioning of bodily cells, captured in the grand process of accelerated healing. The Class IV Laser Therapy has indeed been to shown to produce far-reaching biological healing effects, some of which include anti-inflammation, enhanced vascular activity, accelerated tissue repair, rapid wound healing, improved nerve function and better metabolic activity. In essence, Dr. Hamilton is redefining chiropractic care with the innovative approach of the Pettibon System coupled with the K-Laser treatment.
Federally Qualified Health Centers (FQHCs) have been the backbone of the healthcare provider system in the United States for almost 50 years. Initially called Neighborhood Health Centers, FQHCs treated nearly 22 million patients in 2012 alone. Even more, they are there to provide health care services to our nation’s neediest population. An average FQHC is always a nonprofit organization. It also has an independent governing board of directors.
With that said, FQHCs provide health and medical treatment to an underserved area or population, providing comprehensive services and offering a sliding fee scale. Sliding fee scale is required as it offers discounts based on patient’s family size and income in accordance with federal poverty guidelines. Health centers must be open to all, regardless of their ability to pay.
However, many patients are unable to pay for their care services even at their discounted rates. Due to this, there are challenges FQHCs experience collecting payments at the time of service. It’s essential for all FQHCs to maximize insurance billing revenue and implement collection procedures properly.
Issues Surrounding FQHC Billing
The average health center has an insurance billing and collection rate of around 70%. Slide patients and self-pay patients are not included. As FQHC is tailored with many components, sometimes it’s quite challenging to identify breakdowns and bad chains in the FQHC billing process.
There are several causes of lost revenue. In many cases, these causes are outlined below.
- Failure to obtain current patient information
- Failure to collect on previous patient account balances
- Failure to collect co-payments and minimum fees
- Not filing claims timely
- Not working denials timely
- Physicians not recording all services performed during the office visit
- Failure to redirect claims properly
In order to maximize medical billing revenue streams, FQHC billing systems should require:
- An adequate and competitive fee schedule
- Timely follow-up on all uncollected amounts
- A corresponding schedule of discounts
- Billing of patients in accordance with the schedule of discounts
Even more, in order to maximize revenue, there need to be some consequences. Past balances cannot be ignored. If needed, attorney and collection agency should be invited. That’s because there’s a misconception that FQHCs are free clinics. Providing health services to the underserved community requires dedication, staff, resources and budget. While federal programs help offset certain costs, FQHCs are expected to pay their fair share based on their ability to pay.
Professional FQHC Billing Services & Training
Since the revenue stream in an FQHC center is the lifeblood that keeps the center active, it often makes sense to consult industry experts. Below are discussed top 3 billing training providers.
Practice Management offers the much needed experience and resources to improve FQHC billing systems. They are well-versed in providing a wide range of medical billing services, with expertise in FQHC billing services. Practice Management is reputable medical billing company with a proven track record in maximizing revenue as well as decreasing collection turn-around time.
Visualutions is a well-established company that wants to help your health center prepare and train for billing collections. You need to provide them with a few details so they can assist you in coordinating the training to your system. As their name implies, they are interested in solutions.
Synergy Billing is the industry’s leading FQHC billing company with the best collection rates. As the FQHC billing process is sometimes complicated, community health centers face a number of billing challenges. Synergy Billing has lots of experience in helping community health centers maximize their FQHC billing revenue. They believe there are effective ways to collect every dollar for your health center.
In order to stay financially viable, health and medical practices must bill and collect payments from their patients. These health and medical organization are faced with the disadvantage that patients do not pay upfront. Patients have to be treated and charged before insurance companies can release the money. As a result, medical billing presents a common challenge among most of these health care organization.
That process can be quite strenuous for health practitioners. It’s often fraught with challenges and problems. The practitioner may end up getting distracted from the main task of attending patients. The health practice may also suffer cash flow challenges and revenue leakages. The organization must establish an efficient patient billing protocol to stay in business.
Below are a few tools, strategies, and tips for practices to establish a more effective patient billing protocols.
1. Investing in medical billing training
Outsourcing may be out of the question due to various reasons. The medical practice may decide to invest in training to mitigate against skills deficits. Medical billing involves some routine clerical work that anybody can learn.
In a small organization, the doctor or his assistant can undergo training in issues like billing and bookkeeping. Training helps the person in charge get the required knowledge to adopt best practices. The billing staff will also be confident and innovative in their billing tasks.
Investing in medical billing training is essential for community health centers and FQHCs. FQHC billing in particular present a five-fold challenge which training can help. For more information on FQHC billing services and training, visit MaximizedRevenue.com.
2. Attending medical billing conferences and seminars
Billing is a problem for many businesses. Attending medical billing conferences and seminars will equip the people in charge with knowledge and skills. They will keep abreast with new developments and best practices. Conferences and seminars can also boost the morale of the staff with the billing responsibility. They will feel more equipped to face the challenges involved.
3. Working with a medical billing consultant
An expert will do an audit on the existing billing protocol and advice. Experts will advise on issues such as coding and outsourcing. They will advise on the most efficient protocol in relation to costs of implementation. They must have a lot of experience in the field to offer the best advice.
4. Investing in a medical billing software
Medical billing can be hard and complicated. Technology serves to make work easier. The medical practice can shop for an applicable medical billing software platform that can meet their particular needs. top-rated medical billing software systems will assist in automation and managing data.
5. Outsourcing to a medical billing service company
Patient billing can be tedious and time-consuming. The organization may lack the resources to do all the following up that may be required especially if they attend to a large number of patients. There are many companies offering billing service and who can assist. Outsourcing medical billing gives the health practitioners a chance to concentrate on their principal roles.
Health and medical billing service providers can be trusted with the whole process from billing to liaising with collections for bills not paid on time. The billing service will ensure no revenue is lost and can even ensure that the doctors are paid what they deserve. In this billing protocol, everything is left to the professionals.
Every medical practice has its needs depending on their specialization, size and complexities of billing. They should make a decision on what tools to use after considering their particular needs. What matters at the end of the day is that the health caregivers aren’t distracted and that they are paid fairly and in time. Any billing protocol that guarantees that is the right one.
It’s no wonder why some companies are offering more and more medical billing seminars and events to help train professionals in this particularly practice. Medical billing and coding can be incredibly tricky and frustrating. Every day you can find some horror story in the news about a clinic whose billing went wrong and was hit with thousands upon thousands of dollars in fees.
For this reason, many health and medical practices spend a lot of time and resource trying to dial-in their medical billing process, and conferences and seminars are a great way to start. From FQHC billing practices to cardiology billing challenges, although the billing procedures may be unique per type of health/medical practice, there are still underlying principles that can be learned from a universal medical billing perspective. Here is a list of highly-rated medical billing seminars that give information by reputable and experienced professionals.
1. Healthcon 2015
This medical billing conference will be held in Las Vegas, Nevada this year. It is an excellent conference which provides information not only for medical billing and coding but almost any other related field you can imagine. The conference is huge and offers a wide array of seminars. Healthcon 2015 will probably be one of the best conferences to attend this year as it is taught by multiple experienced professionals, and include such a variety of courses.
2. AAPC Workshops
If you can’t make it to Healthcon then the AAPC still offer a variety of medical billing workshops both online and on-site to help you become certified or just learn more about the field. These workshops are also taught by expert medical billing specialists so the quality is outstanding. The company advertises availability in over 40 different cities and over 4 hour live presentations.
3. New Horizons
This medical billing company offers online certification for billing and coding specialists. Their course provides students with the preparation they need to sit through a professional certification exam. They have great access to resources the students need, and provide real learning in their courses.
Students of New Horizons get to learn with real hands on experience, through the usage of actual case studies, and real documents. This is not a conference you can visit, but it should still be ranked up here since it is such a wonderful resource for those who either need to get certified or brush up on their skills.
4. Zhealth Publishing
Pay attention to their website because they hold specialized medical billing seminars four times a year across the USA about medical billing and coding. These workshops are taught by leading experts in their fields and last for at least two full days. Zhealth Publishing brings in experts in all medical fields to teach a wide variety of courses. This is an excellent event to attend to learn more about medical billing and coding.
5. McVey Associates, Inc.
This medical billing company also offers workshops and training in medical insurance coding. McVey Associates boasts an experienced history of 30 years which makes them quite reputable. They provide students with plenty of resources and materials to learn and get certified as a medical billing and coding specialist.
These are just a few of the many resources that are out there for people seeking to increase their knowledge about medical billing and coding or to get certified. Don’t just opt to outsource medical billing services and pay hefty fees for the service along. Getting educated and pursuing further knowledge as a medical billing and coding specialist is vital to keep all billing practice in-house.
The maintaining a thriving medical practice is becoming more and more complex through the years, and this means the time, effort, and resources needed to effectively handle a practice’s medical billing procedures is also becoming more complicated.
With the cutting-edge resources and solutions provided by professional medical billing companies, your practice can minimize the time-consuming efforts and complications needed to ensure that it’s acquiring the money that it needs in a more timely and efficient manner.
Enter: Practice Management
As a medical practice, it is imperative that you have the best people working for you, and this also applies to your medical billing processes. By hiring a team of experienced professionals to handle medical billing procedures, your practice can collect patient billings faster while minimizing overhead costs and potentially lost revenue.
Practice Management is an Illinois-based medical billing firm that is able to provide your health or medical practice with top-tier billing services that are often far more advanced than what other companies have to offer. Aside from the immediate financial benefits that your practice can realize, it can also encounter less costs associated with overhead fees, software and hardware investments, as well as insurance.
The Value of Medical Billing Services
Another important factor to take into consideration is the purpose of the team that you will be hiring. Instead of relying on other people working within the practice who have other jobs and duties, your new team of medical billing professionals will have one purpose: to make sure that your practice collects the billings that it’s owed in a more timely manner.
Every health and medical practice the same objectives in mind – making sure that they get billings fulfilled efficiently. Having a dedicated team of medical billing specialists will help to make sure that all claims are tracked until they are processed.
Investing medical billing services allows you to have more control over daily operations in your practice as you won’t have to deal with the headaches associated with billings and collecting payments on time. This will give you the time that you need to review your reports and to make sure that you are making enough money. You will also have the opportunity to spend more time reviewing in order to find any errors or areas that you want to improve and/or fix.
Highly-Skilled Billing Specialists
As previously mentioned, hiring dedicated team of medical billing specialists helps to optimize your revenue cycle while improving the overall health of your practice.
Practice Management is highly-skilled in various billing applications, making them a full-service solution for virtually all of your practice’s billing needs. Some of the types of billing that they specialize in include: FQHC billing, surgery billing services, cardiology billing services, health center billing, and OB/GYN billing services.
As a medical practice, aside from ensuring that your patients are healthy, your secondary objective is to make money and maintain a healthy business. When you leverage the expertise and resources of Practice Management, you can not only ensure that you are being paid, but you will be paid sooner.