Why Invest in a Professional Medical Billing Service?

Are you considering eliminating your in-house medical billing? Not sure what the benefits may be? If you should choose to outsource your medical billing, you will no longer have the headaches associated with in-house billing. Let’s take a look at what your practice stands to¬†gain by investing in a professional medical billing service.

Allocating Staff Where They’re Best Neededoutsource medical billing

It will no longer be necessary to ensure that your staff is “up to date” on all of the medical billing standards, thus allowing you to save money by eliminating the need to send your employees to countless seminars. Additionally, you will save a significant amount of money when you’re no longer forced to purchase costly computer equipment and/or software updates – you will even save money on office expenses, such as phone charges, postage fees and copy paper.

Quite possibly one of the most beneficial factors involved in the decision to eliminate your in-house medical billing is the increased time and effort your staff will be able to put toward patient care. You may even cut expenses on employee wages and benefits, and at the same time enjoy the advantages gained from additional space within your office that will very likely become available.

Drastically Optimize Accounts Receivables

It has been reported that medical practices hiring competent and professional outside medical billing companies have gained the assurance that their receivables are getting the attention they deserve. Your A/R will receive full-time, professional attention, and absolutely no delay or interruption in cash flow due to vacation time and absenteeism.

Submission of electronic claims is also beneficial, since payments are typically received as soon as 10 days after submission. This has resulted in many practices witnessing a significant increase in their turnaround time and receivables. For smaller health centers and local FQHCs, these solutions can drastically help to maximize revenue.

Leverage Full-Service Practice Management

billing serviceAlso, most professional and competent medical billing companies encourage their clients to decide just how much or how little they do for you. You may request that the company with which you contract simply submit your claims, submit claims and work rejections, or offer you full practice management.

When it comes to comprehensive medical billing services, full practice management entails claim submission, as well as submission of all secondary and tertiary claims, posting of all payments, work rejections, necessary tasks to clear up old A/R reports, and weekly/monthly reports. Additionally, under a full practice management contract, medical billing companies send patient statements and handle patient billing calls.

Take Advantage of Value-Added Services

Many medical billing companies also offer such services as credentialing with insurance companies, thus saving their clients hours of paperwork processing. The company you decide to hire may also provide you the valuable service of performing the evaluation of reimbursement rates and advise you of the highest appropriate fee schedule, as well as supply your office with a customized super-bill (i.e., router, flow sheet).

In summary, hiring a professional medical billing service for your practice is extremely beneficial, and certainly an option you should consider. Prior to doing so, however, it’s important to talk with at least three reputable medical billing companies to ensure that the service with which you contract is reliable, competent and professional so that your practice sees the best results possible. I wish you the best for your practice’s success.

3 Reputable FQHC Billing Companies Based in the U.S.

Federal Qualified Health Centers (FQHCs) offer healthcare services to citizens of the United States. Due to the dynamic and varied nature of services offered, it is normally hard for these kinds of facilities to undertake their own medical billing. More often than not, FQHCs and other such facilities like Community Health Centers hire reputable medical billing companies to offer billing services to them.

In order to continue providing quality health care services, it is important that FQHCs have efficient and effective medical billing systems that ensure patients complete medical bills in a timely manner. That can only happen with the intervention of reputable FQHC billing companies. Herein is a review of three leading FQHC billing companies based in the U.S.

1. Practice Managementreputable FQHC billing companies

Practice Management has a reputation for being one of the most trusted FQHC billing companies when it comes to decreasing payment turnaround time and revenue maximization. Although they provide a wide range of services, Practice Management has a high level of experience and specialty in FQHC billing. Some of the FQHC billing services provided by Practice Management include but are not limited to the following:

  • Community Health Center (CHC) billing and coding
  • FQHC billing services
  • Medicaid, Medicare and Commercial insurance for behavioral health, medical and dental claims.
  • EMR Practice Management Systems
  • Family practices
  • Pediatrics
  • Cardiology

Practice Management has a well put together team of individuals with enviable mastery of billing software, who are always ready for consultation on various topics such as:

  • FQHC Billing & Coding
  • Financial policies and procedures
  • Front office procedures

2. Visualutions

Visualutions is a top 3 FQHC billing company based in the United States. Visualutions is not only focused on providing the usual FQHC billing services but also ensures health centers significantly reduce overhead costs while maximizing on revenue.

It is noteworthy that this company ensures that their staffs are trained both practically and theoretically to ensure that they deliver on their mandate. Based on the best practice of FQHC billing, some of the services offered by the company include:

  • Financial analytics
  • Revenue cycle management
  • Community healthcare solutions
  • Cloud and IT services

3. Synergy Billing

Synergy Billing has over the years helped FQHCs to collect revenue and overcome financial huddles. Synergy recognizes the complex nature of FQHC billing and provides effective solutions to ensure every penny is not only collected, but also put into good use. Some of the programs that Synergy billing extends to FQHC include:

  • Retirement plans
  • Incentive programs
  • Employee Council
  • Synergy leadership academy.

To ensure effective service delivery, Synergy billing uses strategies such as:

  • Staff training: which is geared towards cultivating an understanding among the staff on how FQHC billing works
  • Accounting receivables recoveries are undertaken to establish error that may give rise to A/R balances
  • Informational webinars ensure that management and staff conform to the favorable billing practices to increase collection of revenue

For the most part, the top FQHC billing companies do a lot to help community based health centers keep afloat in the already turbulent waters of providing healthcare and medical treatment to an underserved population. It is therefore important to give due credit to these top three organizations for the effort they put forth to ensure citizens of the United States have access to quality medical and healthcare services.

Top 3 Specialized Cardiology Medical Billers in Review

Cardiology Billing ServicesMany medical billing companies have been established, but it’s only a few that can effectively optimize billing systems for faster payments and maximized revenue streams. The most established medical billing companies specialize in different areas such as orthopedic billing, OB/GYN billing, pediatric billing, urology billing and cardiology billing.

When it comes to specialized cardiology billing services, you can trust the following 3 leading medical billers: Practice Management, BillingParadise, and 5 Star Billing Services Inc.

1. Practice Management

Established in 1995, Practice Management aims to offer top quality physician billing services. Since then, the company has been helping physicians run their business more efficiently and effectively. It uses a free-based system to calculate billing service fees. This system is based on three factors: practice’s volume, medical specialty and payer mix.

Practice Management provides nationwide medical billing services with expertise in cardiology medical billing services. There is no other company with a wide of range of medical billing services like Practice Management. It offers medical billing in the following areas: allergy, cardiology, dermatology, electrophysiology, ENT, family practice, FQHC, health center, gastroenterology, internal medicine, neurosurgery, OB/GYN, orthopedic, pain management, pediatric, podiatry, sleep sturdy, surgery, urology and vascular surgery. The company is also concerned with billing management, credentialing, electronic health records and medical billing consulting.

Following all federal, state and local laws, Practice Management offers custom-tailored cardiology billing services made to reduce overhead costs and increase reimbursement growth, cash flow and revenue. It’s cardiology billing program touches on: coding, credentialing, procedures (angiography, angioplasty, atherectomy, cardiac catheterization, cardiovascular monitoring, echocardiography, implantable & wearable cardiac device evaluations, nuclear studies and stent), cardiology billing security, follow-ups and consultation. The company’s cardiology medical billers combine advanced technology and efficient revenue cycle management to offer these services. To learn more, visit MaximizedRevenue.com.

2. BillingParadise

BillingParadise is a nationwide medical billing company that was started in 2000. It is one of the few companies offering the most cost-effective outsourcing solutions to physicians. It boasts qualified healthcare specialists, medical billers and professional coders who improve collection rates and increase physician reimbursement.

Billingparadise.com offers medical billing in the following areas: cardiology, family practice, anesthesiology, internal medicine, dermatology, OB/GYN, endocrinology, gastroenterology, urology, ophthalmology, rheumatology, neurology, nephrology, optometry, otolaryngology, pediatric, podiatry, physical therapy and surgery. Its billing program features important processes like: charge entry, claims submission, point of contact, account receivables, denials management, customized reports and document scanning & archiving.billing service

BillingParadise is well versed with insurance carrier policies, and this is one of the reasons it offers quality cardiology billing services. It handles charge postings and reviews, billing inquiry calls and patient billing functions. Using efficient AMR software and a reputable EHR and following the right cardiology billing process, the company ensures its clients (physicians) get paid for their services.

Whether physicians want customized billing services for their general clinical cardiology, interventional cardiology, echo-cardiology, nuclear cardiology, transplant cardiology surgery or heart failure, they can always get them from BillingParadise.

3. 5 Star Billing Services Inc.

With many years of experience in the business, 5 Star Billing Services Inc. offers professional medical billing and related services for medical practitioners. The company boasts an experienced medical team and an efficient appeals and submission system that increases cash flow, reduces denials and cut downs self-billing costs.

5 Star Billing Services Inc. specializes in the following medical billing areas: cardiology, chiropractic, dermatology, family practice, gastroenterology, internal medicine, medical billing, mental health, OB/GYN, occupational therapy, oncology, ophthalmology, orthopedics, pain management, pediatric, podiatry, physical therapy, rheumatology, sleep medicine, speech pathology, surgery and urology.

5 Star Billing Services Inc. believes in the best practices of cardiology billing and account reimbursement. Its billing program reduces expenses and increase revenue. The company submits all claims electronically to allow physicians access their patients data (transaction history, balances & more) remotely. It manages receivables through cardiology AR tracking, coding, payer relations, patient relations, collections, client reporting, fees analysis and managed-care contracts.