The consequence of COVID and the on- going pandemic has been catastrophic across every sector! Medical Billing has had its own share of cataclysmic upheaval. While we await the denouement of this disastrous viral attack, it is also important to prepare to boost the downtrodden areas, especially the ones that got affected during this massive and extended COVID-19 pandemic. Let us look into various strategies to cope up and boost our Medical Billing efficiency.
There have been numerous changes and updates in the Healthcare and Medical Billing Industry owing to the novel attack and alternations during this travail state. With conscious effort on streamlining the process, analyzing the changes in Medical Billing guidelines and Insurance policies, training your staffs with recent code-related changes and implementing new protocols to ensure the changes and updates are followed efficiently can fetch targeted results down the line.
Get Accustomed with the New Billing and Coding Guideline
With the novel diagnosis and related procedures changing the medical world, guidelines in Medical billing and coding are updated to meet the on-going changes and requirements. It is quintessential for any Medical Billing Company to work out on a strategical approach to abide by the changes and train their staff to meet the requirement.
Revamp your billing strategies to meet the current demands
Billing and collection strategies existing and followed from age old might have proved to be the best until the hit of COVID 19 and Global pandemic. But to survive the vicissitudes of the current era, it is imperative that you revamp your strategies and divert our efforts towards meeting the on-going demand and sustaining your business during this crisis.
Implementation of Artificial Intelligence for Process Automation
Investing in process automation to enhance the quality and productivity can upscale your bottom – line. There has been a commendable upgradation on the technologies used in Medical Billing and Coding, inclusion of Artificial Intelligence to reduce human effort has comparatively increased the Medical Billing efficiency. This also helps in reduced claims denials and increased reimbursement. Revenue Cycle Management has been greatly improvised with the implementation cutting-edge technologies in handling various scopes.
Medical Billing for Telehealth
Global pandemic increased the Telehealth and telemedicine percentage precipitously. Medical Billing Companies should equip their billers and coders with the related billing and coding changes in lieu with the increased Telehealth. Though Medicare and Department of Health and Human Services (DHHS) have announced the expansion of coverage benefits to reimburse for Telehealth and Telemedicine, there is still ambiguity among the Medical Billing Companies on getting a permanent fix. However, adapting to changes might ease follow guidelines and standardize protocols as required.
Cost-Effective Billing and Coding
During this unprecedented period, it is advisable to keep your business as cost-effective as possible. Cutting down on your overhead cost, staffing only to meet the daily workload, choosing smart work over hard work, reducing your administration related cost are some areas you can look into to reduce your operational cost. Outsourcing to an Offshore Medical Billing partner is one of the most adapted solutions to cost-effective Medical Billing services.
Offshore Outsourcing
Offshore outsourcing has turned out to be the best choice during this pandemic where Billing Companies are facing staffing and various other operational struggles. An offshore-based Billing Company can prove to be your partner in achieving end-to-end Revenue Cycle Management solutions. With the uncertainty of current condition and over-demanding service requirements, this is the right time to partner with an offshore-based Medical Billing Company.
About e-care
E-care India is one of the pioneering offshore medical billing companies based in India that promises to avoid the risks involved with missed Charges. With more than 20 years of experience in the industry, e-care’s 3 delivery centers have been providing end-to-end medical claims processing services seamlessly to its clients. With its expertise and experience, e-care has been delivering the best results during this pandemic to its 100+ clients across various states in US. To know more about e-care and its services, log on to www.ecareindia.com