Medical Billing & Coding Services for Wyoming Providers
Medical Billing in Wyoming for Providers & Practices
Our medical billing & coding services are provided to practicing providers and groups in Wyoming by utilizing the latest in information transfer technology!
The medical billing company you choose to handle your medical billing and management functions should be experts at what they do, and more importantly, experts at increasing provider revenue… not just a company that is close to your practice in Wyoming, but someone who genuinely cares about you, your revenue and your practice.
With successful and satisfied clients all over the United States… the medical billing company that most successful Wyoming Providers choose is Outsource Management Group, LLC.
Medical Billing in Wyoming for Medicare
As of 2012, there were 84,076 Medicare enrollees in the state of Wyoming. Most of them are seniors, but disabled persons and patients with end stage renal disease are also included in this number. They rely on this federal-funded insurance program for their healthcare needs, including inpatient hospital care and outpatient treatment. As the program doesn’t cover all medical expenses, a good number of beneficiaries choose to enroll in the advantage plans available in the state so as to receive more comprehensive coverage.
Providers should be familiar with state and federal policies when deciding whether or not they will accept patients with Medicare. They may choose to become participating (PAR) providers, whose maximum fee for beneficiaries must match the charge approved by the Centers for Medicare and Medicaid Services (CMS).
Non-participating (non-PAR) providers may charge higher rates, but will only be paid 95% of what is given to PAR providers by the CMS. In both cases, the CMS answers for 80% of the approved fee, and they will only pay it for services and procedures deemed to be necessary. The remainder of the payment will be shouldered by the patient, or by the patient’s secondary insurance provider.
This system carries the obvious risk of providers not receiving appropriate compensation for their work. The constant threat of healthcare budget cuts may slash even more off a provider’s fee. For this reason, some providers decide to go through the complicated process of opting out of the program and entering private contracts with their patients instead.
However, it is possible to earn a decent living while still providing services for beneficiaries. The key to this is becoming familiar with the coding and billing systems used by the CMS to evaluate claims. The guidelines for these are freely available on the CMS website, and additional documents are provided by the American Medical Association, as well as some specialty associations.
The CMS codes serve as a set of standards by which they determine how much a provider should be paid. A code for a certain procedure or service will reflect how much time the provider spent on the patient, the difficulty of the decision making involved, the examinations done, and the expenses the provider incurred during the process. It’s a complicated alphanumeric system, with modifiers for little things as performing different services for the same patient on the same day, but it’s well worth the time to study, or even the money to hire a professional in medical billing and coding.
Higher codes merit higher compensation, and they must understandably be backed by more thorough documentation. Some providers don’t take the trouble to organize all the paperwork and lose thousands of dollars in the process.
Partner with the leading medical billing firm & increase your revenue now!
By utilizing our medical billing for Wyoming physicians you are taking the first step to increasing your revenue. As your business partner, we become a seamless part of the daily function and overall financial health of your practice. We take great pride in continually verifying that our Wyoming providers are being reimbursed for everything they deserve. Contact us today if you’re working long, hard hours and tired of needing more revenue. We will become your partner and guide you to a better bottom line!
