Medical Billing plays a fundamental role in U.S. healthcare. Quality Medical Billing can uplift the Healthcare process and procedures benefiting with maximum ROI for all parties involved. Medical Billing is an art that requires sheer determination to cope up with the evolving Healthcare Changes and bring in positive and progressive results.
Getting more out of Medical Billing is as simple as understanding each and every scope of Revenue Cycle Management and diverting efforts toward process enhancement. Discussed below are a few lists of areas to focus on for Effective Medical Billing:
Attention to Details
The medical Billing Process which involves a lot of meticulous details at various stages and scopes may be highly vulnerable to errors affecting claim processing and reimbursement. Ignorance and mishandling can lead to severe revenue dips. Having an eye on the below areas vulnerable to error is the key to effective billing.
- Accuracy in Patient Information and Demographic Entry
- Rightly mapping the correct provider and payor
- Correct DX and Procedure Codes with the right modifier appended
- Cross-check payment contracts for updated Charge Entry
- Check to avoid duplicate billing
- Check on the TFL to avoid late submission
- Re-process low-paid and denied claims immediately
- Keep up physician credentialing current and updated
By having a streamlined check with the above listed with regular audits can help curb billing challenges and get maximum benefits.
Insurance Eligibility and Benefit Verification
Alongside internal audit to identify areas affecting claim quality, having an effective Insurance Eligibility Verification can also help enhance the complete RCM and achieve maximum returns. Insurance Eligibility Verification is a must to identify:
- The patient’s insurance coverage details
- Patients’ liability and coverage benefits
- Referrals and Prior authorization
- Co-pay, Co-insurance and Deductibles
These details mostly considered trivial may turn out to be crucially affecting claims processing and collections! Fortunately with the Insurance Eligibility Verification process errors from these issues are curbed.
Physician Credentialing for Enhanced Medical Billing
Physician Credentialing plays a significant role in effective Medical Billing and Revenue flow. Delays in credentialing can drastically affect claim reimbursement. Keeping an eye on the credentialing validation and applying for re-credentialing in prior saves time and prevents revenue loss.
Process Automation and Embracing Technological upgrades
The process of Revenue Cycle Management can be comprehensive and complex. Thanks to technological evolution that most scopes involve the usage of upgraded tools and technology to simplify and reduce human errors. Transforming to process automation and embracing these technological upgrades available can significantly help get the best out of Medical Billing in Healthcare.
Offshore Outsourcing Medical Billing Services
The most effective way to get the best out of Medical Billing is by Offshore Outsourcing. Recent research has proved that Medical Billing Outsourcing results in maximum reimbursement and quality medical billing and Coding. Listed below are a few benefits of Offshore Outsourcing:
- Improves Medical Billing and Coding Quality
- Accelerates cash flow
- Cost Effective and Productive
- Adherence to HIPAA Compliance and Healthcare Regulatory policies.
About Ecare
ecare is a leading medical billing company in India. With over 100+ clients and 3 Delivery centers, ecare has established itself as the top medical billing providing complete Revenue Cycle Management Solutions across the US. To know more about Ecare and our services log on to https://www.ecareindia.com/medical-coding-services.html or call 1-813-666-0028