Outsourcing Medical Billing and Coding – Reduces Your Denials
Outsourcing your medical billing and coding processes is the best way to reduce denials and enhance reimbursement. There are currently many medical billing companies that offer these services. When you go for medical billing and coding services, you are assured time and cost savings in addition to error-free billing and coding.
How a Medical Billing and Coding Company Helps to Reduce Claim Denials
Claim denials usually result from coding errors. Physicians and their office staff may not have in-depth knowledge regarding complex coding regulations and the requirements of different payers. A reliable medical coding company will have on staff certified medical coding specialists thoroughly knowledgeable regarding coding for multiple specialties. They will assign the correct diagnostic and procedure codes and ensure error-free claims. The entire coding is done in strict compliance with NCCI (National Correct Coding Initiatives (NCCI) and Local coverage decision and medical policies (LCD) guidelines. This automatically results in fewer denials and enhanced revenue for your medical practice.
- Medical coding team well-versed in ICD-9, CPT and HCPCS Level II codes for all medical specialties
- Clean claims, with 3 level quality assurance procedure to ensure maximum accuracy
- The latest medical software is used for accurate coding and billing
Outsourcing Saves You Time, Money and Effort
Outsourcing of medical billing and coding to a recognized service provider can save your valuable time. You can devote more time to your core activities including patient care and enjoy improved patient satisfaction. Outsourcing to dependable medical billing companies also brings cost savings because it is much cheaper than having in-house staff do the same job, in which case you will have to invest heavily in training programs, software and other requirements. Then you are also freed from the tedious task of billing and coding and managing your records. Here are some of the billing services a medical billing and coding company offers:
- Patient enrollment (demographics and charges)
- Insurance enrollment (for physicians and offices)
- Insurance verification
- Insurance authorizations
- Coding and audits
- Billing and reconciling of accounts (payment posting)
- Account analysis and denial management (EOB analysis)
- AR management (insurance and patient)
Usually, the medical coding solutions offered include:
- Hospital / in-patient coding
- Emergency room e-code evaluation
- Medical coding audits
- Backlog coding resolution services
- DRG/ICD-9-CM coding validations
- CPT medical coding
- ASCs – Ambulatory Surgical Centers Coding
- ICD-9 coding based on AMA and CMS guidelines
Outsourcing Companies Guarantee Confidentiality and Security
When you go for medical billing service from an established firm, you can be assured that the security and confidentiality of your patient information will be strictly maintained. Companies offer HIPAA compliant medical billing and coding, flawless claims, reduced denials, regular follow-ups, and timely reimbursement that will all work together to enhance the revenue of your practice.
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