Medical Billing Is Not Just Data Entry
Medical Billing Is Not Just Data Entry
Many physicians are reluctant to outsource their medical billing because they are under the misconception they are simply paying someone else to do what can be done within their offices and there are also concerns they won’t have control over reimbursements if the process leaves their premises.
They couldn’t be more incorrect. Your medical billing partner not only enters the claims for submission to the various carriers and insurances, they also handle payment posting to patient accounts so they will no longer be outstanding and those monies come from several sources, insurance companies, patient, Medicare, etc. This requires knowledge of insurances, adjustments and knowing how to properly apply money to the correct account. This can also come in the form of Central Deposits. Most larger organizations like hospitals, clinics and multi-physician practices have a central location for incoming revenue. The money has to be deposited into the bank and organized according the account, specialty and cost center. The money is investigated and routed to the proper destination. Then the billing office assigns payment posters to apply the money to the accounts.
Handling Accounts Receivable. This department maintains accounts that are overdue. It involves making sure claims are fully and not partially paid and posting to patient accounts accordingly. It also involves dealing with patients, insurance companies, lawyers, and workers comp parties.
Collections is the other end of A/R, When accounts aren’t paid for any reason, they must be collected on. Many physicians like for the medical billing company to do soft collections for these accounts. Most people want to pay their bills, they just have extenuating circumstances that caused the account to fall behind.
Credentialing of Physicians is another service that your medical billing partner can provide. By getting physicians approved by various carriers, it allows for faster processing of claims. As you can see, outsourcing your medical billing will not only free up your staff, it will add convenience in the handling of patient accounts and when you partner with a full service medical billing company, it’s a whole lot more than data entry.
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