Outsourcing Your Medicare Medical Billing Claims
Outsourcing Your Medicare Medical Billing Claims
Outsourcing Your Medicare Medical Billing Claims
In order to participate in Medicare, health care providers must:
*Agree to file claims to Medicare on behalf of the patient.
*Accept the allowed or approved amount of the claim as payment in full.
*Write off any amount not paid by Medicare.
*Make an attempt to collect the co-pay amount from the patient.
*Accept assignment on all claims.
If you are a physician that accepts Medicare patients, you are familiar with the billing and re-imbursement process and you know from filing CMS-1500 forms that it can take weeks for a claim that was manually filed to be handled and reimbursed by Medicare.
Outsourcing your medical billing to a vendor that has experience handling your Medicare claims will result in faster turn around on your claims, as most medical billing firms file electronically and Medicare offers an incentive for electronic claims submissions by processing those reimbursements within two weeks.
Additionally, not only will you see faster claims handling of your Medicare medical billing, you will also see far less rejections of claims (about 1% of EMS claims are rejected) and fewer partial payments as your medical billing partner will implement all procedures and coding for which you should be reimbursed.
Your practice will benefit greatly from faster turn around on your claims and less rejections. Outsourcing your Medicare medical billing is a positive step for your practice all the way.
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