The work of a medical billing company is to follow the billing claim that gets translated from a healthcare service. It helps ensure that the organization receives the deserved payment for the provider’s work. Overall, a knowledgeable and experienced medical billing company can optimize the revenue performances related to the healthcare business or physician practice.
Thus, medical billing companies are the liaison between insurance companies, healthcare workers, and patients. They remain responsible for managing and transferring relevant patient information, presenting claims to insurance businesses, and ensuring medical service payments within the specified time. Additionally, a medical billing company handles the issue of patient confidentiality, keeping regular updates with the insurance providers for non-payments and delays.
How Can We Help You As a Medical Billing Company?
As a professional medical billing company, we can offer you all the services you expect of us.
Some job responsibilities and roles performed by our medical billing company encompass the following:
- Ensuring the accuracy of patient information and collecting any remaining data
- Acquiring and reviewing authorizations and referrals for each treatment
- Confirming the insurance eligibility and benefits for the patients
- Adhering to all the guidelines and regulations set by HMO/PPO, state programs, etc.
- Transferring billing data and insurance claims to bill software
- Devising electronic and paper copies of the required document
- Updating billing software with the rate changes
- Creating and maintaining a late and incoming payment tracking system
- Dealing with personal information and ensuring confidentiality
- Assessing and resolving financial discrepancies
- Following up on delayed payments and initiating a relevant notice to the associated parties
- Handling insurance and patient inquiries
How Do We Perform Our Job?
Our medical billing company works methodologically and systematically. We adopt the best measures to ensure appropriate reimbursement for the associated healthcare services.
Firstly, our medical billing company begins with collecting the patients’ relevant and required information. It entails an individual’s insurance coverage, medical history, demographics, and the procedures or services they received. We adhere to our pledge or dream of becoming the best medical billing company, ensuring customer detail confidentiality.
The staff and professionals of our medical billing company review the patient’s insurance plans and medical charts thoroughly to gather the required information. They also verify the service coverage. Next, we generate suitable medical claims, check their correctness, and submit the documents to the insurance agencies.
Once the claims get approved, our medical billing company receives them. Then, we check the amount that came with the approval to prevent discrepancies. Our medical billing company staff prepare the bill before the patients have a session with their doctor. A specific amount gets deducted from the service or procedure cost. The deductibles and copays get factored in, and the outstanding sum goes to the patient’s balances.
As a respectable medical billing company, we perform all steps while harboring trust with our customers. Thus, we send a detailed invoice to the patients every time the payments get reconciled and posted.
Overall, our medical billing company performs the front-end and back-end billing processes. It implies that we handle the registrations, insurance eligibility assessments, encounter form initiation, and checkout. Our medical billing company also manages the charge entries, claim generations, application forms, claim submissions, patient payments, and denial management.
Schedule a call to talk to our Medical Billing Experts