Blog on Medical Billing, Billing Outsourcing and Healthcare Billing
The introduction of ERAs (Electronic Remittance Advice) and EFTs (Electronic Funds Transfer) created a revolutionary change in the healthcare billing domain by replacing traditional, paper-based EOBs (Explanation of Benefits). Continue reading “Benefits of ERAs/EFTs”
Due to the recent changes in the US healthcare domain, the onus of providing medical billing services with consistent quality has increased for the US based medical billing companies. The offshore medical billing model has become a ‘hard to avoid’ option in recent times. Evidently, many outsourcing medical billing companies in the US consider it a better option than to expand their team of employees. Continue reading “How soon can you start saving when using Offshore Medical Billing?”
Working effectively and efficiently is crucial when it comes to performing medical billing functions. Several factors help in the enhancement of medical billing functions of a provider to save money and time. Among them, EDI set-up plays a key role in promoting faster medical claims processing and quicker reimbursements. Continue reading “EDI Set-up – Save Time and Money!”
Healthcare Facilities, Providers and the US medical billing companies that handle their billing, have faced a lot of complexities during medical claims billing. As they already have too much to handle, adapting to the new changes introduced by the Affordable Care Act is truly burdening. Continue reading “What is your Claims First-pass Ratio?”
Among the several factors that determine the success of US medical billing companies and Healthcare outsourcing Providers, indexing medical records is one piece that has a great significance. Since it keeps track of key information such as patient demographics, clinical history and medical reports in one place for easy access later, maintaining and securing such medical records is highly imperative. Continue reading “Medical Records Indexing”
Right from Healthcare Providers to medical billing companies, everyone in the US is looking forward to one major change, which is the ICD-10 implementation. Though the transition of ICD-10 code sets will come into effect only by 1st October 2014, Healthcare Providers and Facilities and onshore and offshore medical billing companies have already started preparing for the change. Continue reading “ICD-10 Impact on the Revenue Cycle”
What is quality?
To sustain growth in the competitive environment, organizations need to create and retain satisfied clients. To achieve this goal, organizations have to provide services, value for money, meet the client’s requirements and service level agreements as well as deliver on time. In short, each and every organization needs to provide quality services. ‘Productivity without quality does not yield anything’. Continue reading “Importance of Quality in Medical Billing”
Since early 2000, US medical billing companies have realized that outsourcing a part of their billing functions to offshore medical billing vendors can be beneficial. With the offshore vendors’ assistance, US medical billing companies can easily face billing complexities, sophisticated technology upgrades, and compliance issues while also bringing down the cost of Operations without compromise in quality of work. Continue reading “Medical Billing – Importance of Due Diligence Process”
Most medical billing companies in the US have a specially-recruited team of professionals to handle claim denials. The reason is that they anticipate claim denials from insurance payers, which has become more frequent these days. When a claim gets denied, the specialized team takes several steps to analyze the cause for denial. Once the problems are sorted out, the claim is resubmitted to the Payer. Continue reading “Prudent use of Appeals”
The modernization of the healthcare medical claims processing has brought in so many changes to the existing workflow and medical billing and coding patterns. Payment postings no exception in that list. Traditionally, payment explanations were sent out in the form of paper EOBs (Explanation of Benefits) by the Payers. However, the advent of Electronic Remittance Technology has moved medical claims processing a step forward. With what is called EFTs, Payers can now easily deliver their payments to Healthcare Providers and Facilities in the electronic form. In the same manner, they use ERAs (Electronic Remittance Advice) to deliver payment explanations, thus replacing the traditional EOBs. To learn more about ERAs , see below: Continue reading “Payment Posting of ERAs”