Ever since the Health Insurance Portability and Accountability Act (HIPAA) was passed back in 1996, the entire healthcare industry has been moving towards a “paperless” environment in an attempt to eliminate the billions of dollars of waste generated each year due to administrative overhead. Insurance companies, clearinghouses and software vendors have all been enhancing their systems to meet the requirements mandated under the HIPAA law.
For providers, they are being asked to understand and adapt to all of the changes that affect them; such as privacy and security requirements, the implementation of new code sets (ex: ICD-10), and anything that affects the electronic submission of their claims (ex: ANSI 5010).
This move to a more streamlined, “paperless” environment has made everything more technical and requires providers to be more computer savvy than ever before. There are so many steps now involved in-between a provider treating a patient and subsequently getting paid, that it can often become very overwhelming and time-consuming.
If a provider does not have a good system in place to manage all of the necessary components of the medical billing process, it could affect their cash flow and lead to thousands of dollars being left in the pockets of insurance companies instead of their own. (This should NOT happen!)
Also of concern to many providers is the loss of knowledge attributed to employee turnover. Most providers either have an office manager or administrative assistant who handles their billing process. When these individuals leave a practice, the provider’s cash flow is at risk.
It should be easy for providers to get paid…plain and simple! But unfortunately, that’s not the case, and many providers leave a lot of money on the table because it’s just too difficult to deal with insurance. Many providers choose to write-off those patient accounts they cannot reconcile instead of wasting their time with a less-than-competent customer service rep who keeps giving them the run-around.
It’s because of these, and other reasons; that many providers decide to outsource their entire medical billing process to a billing service like us. By outsourcing to a third-party entity, a provider will no longer have to worry about keeping up with all of the industry changes that affect their practice, or how their entire cash flow could suffer with the loss of one employee. Provider’s can now focus on treating their patients and leave everything else to us!
The following items below would be covered under our full service billing:
- Verification Of Benefits
- Claims Submission
- Claims Reconciliation
- Insurance Payment Posting
- Unpaid Claim Follow Up / Denial Resolution
- Monthly Patient Billing Statements
- Customized Reporting