Medical billing services – the process of recording and processing claims for health care services rendered to patients is one of the most important components of a small practice. It is one of the most challenging parts of running a practice because it requires expertise in many areas, including insurance coverage and coding. The in-house billing process can be complex and cumbersome. Fortunately, there are ways you can streamline this process so that you never have to worry about it. When you have a small practice, the amount of money that goes into patient care can be staggering. It’s important to have a system in place to help manage the financial burden of providing high-quality care for your patients.
Medical billing services for small practices streamline the process by which healthcare providers file insurance claims. With the appropriate coding, the medical billing services enable accurate and fast claims to insurance carriers. Following each insurance company’s specific guidelines boosts the probability of getting quick and complete reimbursements, giving your practice enough operating cash flow. Our medical billing process includes:
Claim Submission
The first step in the medical billing process is to submit claims. We’re committed to providing our clients with the best medical billing services in the industry, because we know how difficult it can be to balance your own practice with managing accounts payable and other financial concerns.
That’s why we start by scrubbing daily claims submissions for accuracy before they go out to insurance carriers—we want them submitted on time, every time! And if they don’t work out? We’ll work with you until it does.
Denial Management
Denial management services are designed to prevent denials in the first place. Our team will identify trends within your practice and provide constant feedback to the clinical team so that clean claims go out the first time around.
Payment Posting
Once your claim is reviewed and approved, you need to post payment on behalf of your client. In addition to posting payments timely with exceptional attention to detail, our skilled payment posters can identify issues affecting revenue by identifying and resolving negative trends within your practice.
Credit and Refund Accounts
Our staff can help you manage your credit and refund processes, too. Whether you’re sending a payment that got lost in transit or want to make sure you’ve been credited correctly, we can take care of it.
Account Receivables
If you’ve been doing your own patient billing, or if you just want to make sure that your practice’s accounts receivable is kept in check and paid on time, we offer a comprehensive solution for your needs. Our team has years of experience working with small practices and patients from all different backgrounds, and we’re dedicated to making sure that you know exactly what to expect when it comes to billing. We’ll help you stay on top of your AR aging list so no matter what happens, you’ll always be able to pay your patients’ bills on time!
Patient Billing and Support Services
When you’re a small practice, you can’t afford to take any chances with your patients’ bills. Whether it’s a simple typo or an unexpected claim, it can mean the difference between making ends meet and falling behind on your bills. That’s why we’ve created our dedicated phone team that has years of experience working in private practice front office, hospital billing centers, and with insurance carriers themselves. Patient billing inquiries and credit card payments over the phone are handled promptly by qualified and caring staff.
It’s no secret that a well-managed revenue cycle is key to any practice’s success. In addition to patient care effective billing is essential to any practice’s financial viability. Here are some of the benefits of using medical billing services for a small practice:
Reduced billing errors: A medical billing service provides you with a detailed overview of your patients’ insurance coverage, which helps you avoid mistakes that could result in rejected claims or denied payments. Such errors lead to lost revenue for practices and clinics. That’s why it’s important to have an expert on your side who is trained in recognizing the most common mistakes.
Increased savings: With medical billing services, you’ll be able to streamline your business processes and reduce overhead costs. They can help practices avoid costly mistakes and develop a more accurate and efficient way of tracking expenses across all departments.
Improved cash flow: Because medical billing services review claims submitted by doctors and other health care professionals, they can ensure that all payments are made correctly. This ensures that your practice receives what it owes from insurance companies and other payers on time every month, which helps you avoid late fees or other penalties that might otherwise be attached to these payments.