Info Hub, Author at InfoHub https://infohubservices.com/author/tushar/ Thu, 21 Jul 2022 12:43:50 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 https://infohubservices.com/wp-content/uploads/2019/10/cropped-INFO-HUB--96x96.png Info Hub, Author at InfoHub https://infohubservices.com/author/tushar/ 32 32 How to Measure Your Billing Process and Its Effectiveness https://infohubservices.com/blog/how-to-measure-your-billing-process-and-its-effectiveness/ Wed, 29 Jun 2022 13:25:00 +0000 https://infohubservices.com/?p=46417

The success of your medical practice depends on carefully monitoring your practice’s financial performance while offering excellent patient care. The process of medical billing and coding is an intricate and a tedious one, requiring expertise to conduct the same. You can make sure the practice is getting paid by routinely checking your medical billing data. Medical billing metrics can help you evaluate and put into effect best practices that are appropriate for your clinic. Key performance indicators (KPIs) for medical billing assist clinics in measuring their revenue cycle and billing, and offer suggestions for boosting collections. Your medical billing information can be analyzed in a variety of ways however, the following pointers can help measure your billing process and its effectiveness –

Days in A/R

Knowing how long it usually takes between seeing a patient and getting paid allows you to determine whether your team is submitting claims to payers in a timely manner. Additionally, you’ll know how much money you need to preserve in the bank to cover running costs prior to reimbursements.

Accounts receivable delays aren’t always your staff’s fault because payers process claims at their own leisure. In any case, it’s crucial to prevent your claims from being in AR for weeks or even months. To make sure that no claims are overlooked, it is essential to keep track of days in AR that are longer than the required 60 days.

Collections Per Visit

Which operations are most crucial to your income overall? It can be helpful to plan your appointments around the areas that generate the most cash for your practice by tracking your collections per visit on a month-on-month basis, and comparing the rates to the kind of appointments you accepted each time.

First Pass Resolution Rate (FPRR)

The percentage of claims that are paid following a single submission is known as your first pass resolution rate (FPRR). You may determine the efficiency of your revenue cycle management (RCM) process using this statistic. If your clinic has trouble increasing patient retention rates (FPRR), concentrate on insurance verification, billing, and coding to improve RCM.

FPRR is the ratio of the number of first-pass claims paid divided by total number of claims submitted during a specific time period

Gross Collection Rate

A high gross collection rate (GCR) demonstrates how well your practice is performing with collections and how closely your fees correspond to the payer’s rates. A higher rate does not, however, automatically imply higher financial success for your practice. Due to the fact that every practice establishes a different charge schedule, it is advisable to monitor this indicator internally as opposed to comparing it to industry benchmarks or other practices.

Net Collection Rate

This simple-to-calculate indicator shows how successfully your practice is obtaining the compensation you are entitled to. To determine how much revenue is lost as a result of things like uncollectible debt or other non-contractual modifications, practices calculate their NCR. Comparing practices with similar specialties, locations, and clinical staff is possible using this statistic. If you see your net collection rate lower than 90-100%, you must consider a billing audit. 

Contractual Variation

The difference between what you are paid and what you agreed to with your payers is known as a contractual variation. This may be impacted, among other things, by how your biller files the claim. A claim that was submitted incorrectly may still be paid, but there is a potential that it may be paid insufficiently. Analytics for your practice should be able to show you instances where the amount you were expecting to be paid under the fee schedule was less than what you actually got from the insurance provider.

Year End Reviews

Metrics collected on a daily, weekly, or even monthly basis cannot give decision-makers enough visibility. Generating quarterly AR reports can give your clinic the knowledge it needs to adopt medical billing processes more effectively. The full performance evaluation for your practice can be obtained from doing year-end evaluations of all the aforementioned measures in addition to quarterly reviews. A thorough annual evaluation of all your records can shed light on your procedures and show where accuracy needs to be improved.

Outsourcing medical billing services has evolved into a simplified process with the best cost-saving strategy in today’s changing digital healthcare market. This is the only option for your medical practice if you want to build a solid cash stream. Info Hub, an offshore medical billing company, is one of the leading medical billing service providers and offers the best medical billing and coding services across multiple specialties.

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A Guide on Optometry Billing https://infohubservices.com/blog/a-guide-on-optometry-billing/ Mon, 27 Jun 2022 13:26:11 +0000 https://infohubservices.com/?p=46368 Optometry has highly precise documentation and reporting protocols, norms, and regulations to follow, much like any other specialty. All practises must go by these regulations, which are stringent in terms of timelines and accuracy, and insurance companies will call them out if they don’t adhere.

All claims must be extremely thorough and error-free in order to be properly paid by any insurance company. Thorough, prompt, and documentation of all interactions is essential for a healthy connection between the physician, the patient, and the insurance company.

Trained employees and equipment are necessary for an optometric practise to maintain a steady cash flow. The submission of accurate claims is essential to the operation and must never be left in the hands of an untrained employee. It’s critical that you and your employees have proper training in optometry coding procedure if you want your office to run smoothly. Knowing how to perform billing and coding for optometry is the key.

Optometry has 16 different ways to code eye exams, thus it’s critical to comprehend the meanings and applications of these fundamental codes. The 16 mandatory codes are divided into three groups: 2 HCPCS “S” codes (S062X), 4 ophthalmic visit codes, and 10 assessment and management (E/M) numbers (992XX) (920XX). There are three common coding sets used in optometry. They include:

• The majority of procedures use CPT codes.
• The Health Care Procedural System for all non-CPT covered operations
• The ICD-10 diagnosis codes

Using the Appropriate CPT Code Modifiers

Given that services are frequently complicated, CPT code modifiers aid in adequately describing them.

You can accomplish the following with its assistance:

• Determining the necessity of the procedure.
• Being aware of the number of doctors treating the patient.
• If there have been a lot of previous procedures.
• Where the operations were performed, among other details crucial to a claim’s position with the insurance funder.

A substantial percentage of medical claims are rejected if it’s used incorrectly. RT/LT for the left and right eye/lids make up the most common modifier for ocular inspection. Additionally, the E1-E4 modifiers aid in distinguishing between the superior and inferior lids as well as the left and right lids. As a result, they are typically combined with a hyphen and put to the end of a CPT code. Before using any of the CPT code modifiers, it’s important to understand their varied applications.

Here are some tips for optometry medical billing to ensure that your practice does not lose out on revenue and gets appropriately reimbursed.

Verify Patient & Insurance Provider Details

Ensuring the provider has been given the insurance payer’s approval (credentials) is one of the initial steps in optometric medical billing.

As per the rules of the insurance plan, don’t forget to file and monitor provider credentialing applications. Whenever enrolment is open, go one step further and routinely check in with insurance payers to ensure that the providers are included in the network.

Maintain Accurate E&M Records

Maintain thorough records that details Evaluation and Management (E/M) service. To assist clinicians in streamlining patient record documentation, CMS announced a number of modifications to E/M documentation beginning in 2019. For E/M office/outpatient visits, doctors are no longer required to re-enter or re-document the patient’s principal complaint and any history that auxiliary personnel or the beneficiary had already recorded in the medical record (both new and old patients).

Collect Co-Pays and Deductibles Upfront

Creating an upfront collection plan is one of the quickest methods to improve your practice’s cash flow. If the patient’s insurance plan has a co-pay, coinsurance, or deductible, always collect it before they leave the clinic during check-in or check-out. Sending invoices ahead of time improves your chances of receiving payment on schedule and decreases Accounts Receivable (AR) delays. Additionally, open balances give a deceptive impression of your AR.

Follow-Up With Denied Claims

Finding the reasons why the claim was initially rejected is never at the top of the list of preferred tasks. The good news is that approximately 90% of denials can be prevented, and on average, two-thirds of them can be recovered. Even while it takes time and frustration to figure out why the insurance payer initially rejected the claim, the longer you wait to figure out what went wrong, the less likely it is that you will be able to collect the whole amount (or any amount) from the insurance provider.

Below is a list of common optometric billing and coding errors

Every optometrist should be aware of and steer clear of these three typical optometry billing and coding mistakes. These typical errors include:

Over-Coding

When you charge for a level of service over what is reasonable, you are over-coding an examination. When an E/M level 4 substitutes the medical record that supported an E/M level 3, for instance.

Under-Coding

It is the most typical mistake in optometry. At a lower level than the examination, judgement assistance, and patient history, it entails charging a problem-focused evaluation and management office.

Payable Processes

This mistake is similar to the under-coding mistake, except it goes a little bit further. It occurs when the patient’s medical insurance is not billed for the examination after the coding process is complete.

Info Hub, an offshore medical billing and coding company specializes in Optometry billing, and has a vast experience in offering its services to physicians and hospitals. Our expert team is well trained in ensuring error-free claims, and help increase practice revenue by reducing claim denials, meticulously following up on denials and more.

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5 Reasons You Need an Offshore Medical Billing Company https://infohubservices.com/blog/5-reasons-you-need-an-offshore-medical-billing-company/ Thu, 23 Jun 2022 06:50:52 +0000 https://infohubservices.com/?p=46332 Medical billing entails back-end responsibilities such as addressing medical billing errors and increasing cash flow that cost time, effort, and resources, diverting attention away from patient care and concern. Discrepancies in billing can result in lost revenue, more effort for your hospital personnel, and a poor patient experience, all of which can harm your medical practice’s reputation in the long run. It’s not surprising, however, that many medical practises in the United States have chosen to outsource all of their medical billing and coding to offshore medical billing companies who specialise in this service.

Is your practice witnessing a downward trend in its finances? Is your stress affecting your patients? Using the expertise of an offshore medical billing company has a number of benefits. Read on to understand the most significant ones that can prove rewarding to your practice.

Cost Effective

Working with an offshore medical billing business takes care of the full administrative process of billing, coding, and collection, allowing you to spend less time on front-end staff hiring and training, as well as maintaining an IT infrastructure. You also have access to the agency’s existing pool of qualified medical billing professionals, making it simpler to expand backend operations at a lesser cost. Apart from facing potential losses due to errors, the expense of constructing infrastructure, resources, and training staff can increase the medical organisations’ expenditure.

When you outsource your medical billing, the entire administrative cycle is handled for you, and your overall cost is reduced to almost half on an average.

Increased Revenue

To prevent insurance denials, all claims are submitted electronically, which lowers time-to-collection. Claim forms are carefully examined by a qualified team before submission. Partnering with an offshore medical billing company frees your staff, thereby allowing them to focus on explaining to patients and their families the estimated cost of health care procedures, their out-of-pocket expenses, and the payment choices accessible to them, instead of making follow-up calls to insurance companies or entering data. As a result of all of this, payment collection will improve.

Compliance

Concerned about laws and regulations? When you work with offshore medical billing service providers, they handle all of the legal aspects of the transaction for you. If the terms HIPAA and Hitech make you nervous, rest assured that they’ve previously been addressed. The majority of offshore companies are compliant and qualified to handle sensitive data.

Better Control of Billing Process

Many medical practises are hesitant to deal with an offshore medical billing company because they are concerned about losing control, but this is not the case. Because medical billing is such a competitive field, your offshore medical billing company will go to great lengths to keep you happy. Only by reducing your collection time, minimising billing errors and claim rejections, guaranteeing that prices do not spike as you grow, and giving frequent reports, will they be able to accomplish this. In other words, you have more control over your medical practice’s billing process.

Patient Satisfaction

While you focus on the most important aspect of patient care, the offshore team takes care of the rest of the billing needs. Your team will be better informed to answer patient payment queries, thanks to the systematic gathering of patient data and digital filing of claims. This leaves them with more time to communicate with patients and family members, quelling any anxieties they may have. Higher claim acceptance rates are achieved through digital claims filing and verification of claims by a team of billing experts on the back end.

Patient experience with a medical practise can be improved by being able to offer an instant approximation of medical expenditures, boosting the level of human engagement, and processing claims quickly.

However, attaining this may not always be simple. To begin with, medical centers must implement an effective EMR and billing software, as well as train their personnel on how to operate the billing systems. Staying up to date on developments in healthcare billing codes and laws is often a challenge.

Info Hub, an offshore medical billing company caters to physicians and hospitals across a variety of specialties. The team at Info Hub has well-trained professionals who are updated with latest changes in the healthcare. With its extensive experience and expertise, we can help improve your revenue collection, reduce overhead costs and enhance patient satisfaction. Our customized solutions to every practice that leads to a streamlined medical billing process that is crucial to the financial health of a practice.

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Do’s & Don’ts of Medical Billing https://infohubservices.com/blog/dos-donts-of-medical-billing/ Mon, 13 Jun 2022 11:24:29 +0000 https://infohubservices.com/?p=46307 Medical billing entails a long process of activities, each stage significant to ensure full reimbursement. Majority of the physicians and practices suffer lower revenue collections owing to certain incorrect medical billing practices. Incorrect coding, piled A/R, lack of follow-up can all affect your practice’s financial health. We understand how important it is to strike a balance between offering patient care and steering clear of billing and coding errors that sometimes plague practices.

In order to stay financially strong and healthy, practices must follow a few dos and don’ts of medical billing. Read on to know more –

Don’t Ignore Denials

Setting up a process of balances will maximize first-pass rates, irrespective of whether a practise uses a medical billing agency or processes claims internally.

When denial rates are higher than predicted, it may be a sign that your team needs advanced training or that the scrubbing procedure is inadequate for your existing workflow.

The following are some of the most common causes for denials:

• You don’t have enough supporting paperwork

• Your doctors aren’t properly certified

• Codes are used for services and equipment that are not covered by the carrier

When you keep track of denial codes, you could see some simple ways to improve your practice’s efficiency.

Don’t Forget Check-In Policy

When a clear policy is in place and followed every time a patient checks in, the chances of medical billing complications are reduced. Before you do anything else, make sure your patient is aware of your payment procedures, and that all of their data is correct and complete. Even if they are regular patients, it is a good idea to have them double-check and confirm that their information each time they visit your clinic.

Don’t Fret Over Appeals and Claim Denials

Despite a near-perfect medical billing process, claim denials still happen. The best way to deal with claim denials and appeals is to employ medical billing services that can devote the necessary time to resolving the problem and obtaining approval for the claim. You must deal with appeals in time to avoid any losses.

Do Maintain Updated Patient Files

Handling claims with accuracy is difficult if you don’t have the correct information on all of your patients? At each visit, you’ll need to remind employees to double-check patient demographics and insurance information. A patient may have a policy change for a variety of reasons.

Explaining the procedure as you update their information will help so that they aren’t taken by surprise with unexpected charges. Double-check data, like the insurance details and information, including the health insurance company’s billing address. It’s critical that this information verifies the records of third-party payers.

Do Have a Medical Billing Assessment

The regulations and environment of medical billing are continually evolving. Billing assessments guarantee that your practice’s billing processes and technology are up to date and suitable. Assessing your present billing system will help you find areas that want improvement and provide you with the direction you need to make it more productive and cost-effective.

Do A Double Check on the Billing

Having a process in place to detect claim problems before they are submitted is the simplest method to be compliant and prevent claim errors. Although human error is unavoidable, utilising technology – claims scrubbing, rules engines, etc. can significantly reduce the likelihood of denials.

It’s critical to train your team and provide them with the resources they need to conduct accurate claims processing for the health of your practise’s bottom line. The finest thing you can do for your company is to have all of your accounts managed by professionals. Medical billing and coding is a complicated process that should only be handled by experts. Info Hub, an offshore medical billing company offers impeccable services in billing, coding, credentialing, A/R follow-up and more, and to all specialties. Our dedicated team for every service ensures you get reimbursed correctly and on time. Medical billing services will help save you time and revenue in the long run, as well as relieve you of the burden of this task.

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Why Small Practices Should Outsource Their Medical Billing Services? https://infohubservices.com/blog/why-small-practices-should-outsource-their-medical-billing-services/ Fri, 10 Jun 2022 09:58:55 +0000 https://infohubservices.com/?p=46296 A consistent cash flow is essential for any practice to run effectively. The revenue cycle is dependent on efficient coding and billing specialists that correctly classify each service provided to a patient, generate bills, and file claims to insurance companies. Hiring skilled employees for coding and billing procedures may be a good idea for large organizations such as hospitals, but it may not be a good idea for doctors and small practices because it increases the financial load and losses. Outsourced medical billing is always a preferable option for such practices as it lowers costs and increases cash flow because they are experts at handling all billing concerns and claim settlements.

Below are a few reasons why small practices will benefit from outsourcing their medical billing services –              

Cost-Effective

A medical billing business can help you save money and get things done faster. If you outsource your billing, you won’t have to spend in cutting-edge billing technology or pay exorbitant software fees. Practices with an in-house medical billing department similarly spent 30 to 40 percent of their collections to cover billing department costs. At the same time, when you use a medical billing service, you spend significantly less per claim. Finally, data security is a difficult process that must be approached with caution in order to meet HIPAA criteria. Outsourced medical billing companies will assure data security as part of their comprehensive service.

Improved Patient Satisfaction

Outsourcing medical billing allows a facility or practice to focus on their core mission of patient care while avoiding the burden of billing and claims. This increases the practitioner’s and other staff’s focus, and patients are happier with the care and attention they receive. It also speeds up the invoicing process, and allows patients to budget for their co-payments.

Efficient Billing

Regular reports and general practice management can be given additional attention by providers. Reporting also makes results apparent, allowing you to monitor your ongoing success. Medical billing companies have professionals who perform a fee schedule analysis to ensure you get the best reimbursement rate, ensure the accuracy of claims from all angles before submission, implement policies and practices to reduce processing time, and carefully review rejections to address any shortcomings. They make certain that each EOB is scrutinized in order to ensure the refund is accurate.

Increased Revenue

A medical billing company can propose innovative billing methods, such as trans-promotional marketing, in which a patient’s bill includes an offer to a testing service, immunizations, medical events, or other special offers. This encourages patients to be more involved while also providing an income stream for the practice.

Transparency

Physicians frequently assume that outsourcing medical billing entails handing over management of the RCM process to a group of strangers, but this is far from the case. Once you’ve signed a contract with a company, your outsourced billing team is obligated to earn you high marks on a set of metrics and to update data on outcomes, giving you total insight into your revenue cycle. Leading medical billing outsourcing companies will provide you with detailed performance reports on a regular basis, and most will keep you updated with delays and payment concerns. That means you have complete control of RCM without managing your billing team.

Our medical billing services at Info Hub, a leading offshore medical billing company, are tailored to match the demands of a variety of practices, not only to support with medical billing, but also to help maximize management potential that will result in increased income. We’re here to help where we’re needed most in varied practices, including DME, gastroenterology, oncology, ASC services, and more. Some practices may only require credentialing and contract management, while others may require full revenue cycle management to get back on track. 

There are numerous advantages to outsourcing medical billing while making it feel that it is being handled in-house. Our team is committed give you the best of our services, from medical billing and coding to consulting services and much more.

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Physicians – Do you Lack Understanding Revenue Leakages? https://infohubservices.com/blog/physicians-do-you-lack-understanding-revenue-leakages/ Mon, 06 Jun 2022 09:45:18 +0000 https://infohubservices.com/?p=46050 The term “revenue leakage” refers to a missed chance to collect income from your practise. Denied claims, piling accounts receivable claims, unbilled procedures, credentialing-related denials, underpayments, unbilled claims and unpaid patient balances can all cause revenue leakage. Medical billing and revenue leakages can result in considerable losses for any healthcare practise due to extended payment cycles. There are a few significant flaws in the entire medical billing process that should be closely observed in order to ensure a consistent revenue flow and financial stability for your clinic.

In today’s healthcare system, medical reimbursement prioritises quality care and patient outcomes. As a result, it’s critical for medical practise leaders to take a new look at their operations to ensure that prospective collections don’t get lost in the process.

Here are some questions to physicians must ask themselves in order to identify, and steer clear of revenue leakage in your practice.

Are we collecting to our full potential?

The payers with whom you sign contracts limit your reimbursement possibilities in several respects. For practises that rely significantly on government payers, this can be difficult. Medicare and Medicaid beneficiaries often receive reduced compensation under these contracts, which cannot be changed to achieve more profitable conditions. However, the payment your practise receives is ultimately influenced by the quality of the contracts, not the insurers themselves. That’s where a medical billing partner may help by ensuring that all contracts are arranged on terms that assure your practice’s profitability.

Are the RCM resources robust enough?

Medical billing and collections in the revenue cycle management is an area where more help is required. Your organisation is at jeopardy if you don’t have a good billing system in place:

• Incorrect claim coding

• Inadequate account collection management

• Significant income loss, reducing the profitability of your practise

If you’re lacking in these areas, your practise is likely to be experiencing revenue loss. Using the services of an experienced medical billing business allows your staff to focus on treatment while leaving these hassles to the professionals.

Are we well versed with data?

Data is used by successful practises to influence business choices and support strategic planning. It’s impossible to comprehend revenue leakage in your practise if you don’t know what’s going on with accounts receivable. Every practise should have access to this information.

• What is the acceptable collection percentage?

• How successfully do they collect from government payers? 

• How well do they collect from commercial payers and private insurance companies?

Now that we have helped with where to begin in order to understand revenue leakages, here are common causes for the same.

Inaccurate Enrolment Date

One of the most significant assets in the delivery of patient care is provider data. All IT systems (EMR, credentialing, marketing), patients, and payers are consumers of provider data. Poorly handled provider data causes revenue cycles to be delayed, has an impact on clinical quality, poses a compliance risk, and has a poor marketing impact (referral and patient). Filling out provider enrolment forms completely and accurately is a crucial step for medical clinics. When claims are filed without complete and/or accurate information, Medicare, other commercial payers will deny them. In that instance, your billing team will have to work even harder to collect what the practise is owed.

Lack of Real-Time Data

If hospital management does not have access to real-time data, they risk making decisions that are not well supported by data. Administrators can have access to real-time data via PARAS. This enables them to prevent income leakage in the healthcare industry before it occurs. The ability to view all data in real time cuts discharge time in half and improves the patient experience at the hospital.

Inadequately Trained Coders

 A practice’s lifeblood is medical coding. That is how billable income is generated from the services you supply. Payments may be delayed, refused, or limited if incorrect code is not provided. At a bare minimum, your coding process should involve qualified coders who are well-trained and experienced and who keep up with the various updates issued by the Centres for Medicare & Medicaid Services on a regular basis. A practice’s lifeblood is medical coding. That is how billable income is generated from the services you supply. Payments may be delayed, refused, or limited if incorrect code is not provided. At a bare minimum, your coding process should include trained and seasoned coders who keep up with the various modifications made by the Centres for Medicare and Medicaid Services on a regular basis.

Unbilled Claims

Errors can cause claims to go unpaid or become trapped in medical billing software. Scrubbing functions are available in various medical billing software packages, which indicate problems in claims before they are submitted. Claims that are stalled owing to a scrubbing issue never make it to the clearinghouse and may go unbilled. By evaluating reports of patient appointments, treatments completed, and the quantity of claims submitted, unbilled claims can be detected.

Underpayment

The majority of doctors are unaware of a cost structure for different operations. Depending on your contracting agreement, various payers may pay you differently for the same procedure. Planning and updating your charge schedule with diverse payers will help you minimise underpayments. Seek professional help when it comes to negotiating with payers and determining your charge schedules.

While these are some of the reasons for revenue leakages, it is important to ensure a robust in-house team who can help salvage situations. Are you dealing with incompetent billers and coders? Info Hub, an offshore outsourcing medical billing company can assist you with its expertise of AR callers, highly trained coders. Our team comes with immense experience in making sure your practice does not experience revenue leakages owing to any of the potential causes.

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Offshore Medical Billing – All You Want to Know! https://infohubservices.com/blog/offshore-medical-billing-all-you-want-to-know/ Thu, 26 May 2022 13:19:42 +0000 https://infohubservices.com/?p=45961 Medical billing involves back-end responsibilities such as creating patient bills, submitting claims, resolving billing errors or optimizing cash flow, interacting with insurance companies, which cost time, effort, and resources, diverting attention away from patient care and concern.

Are consistent billing errors or late reimbursements plaguing your practice? Offshore medical billing is the solution for when you are looking for efficiency in the financial health of your business and ensuring complete focus on patient care.

Here is all you need to know about offshore medical billing, and how it can be an effective solution to the challenges you face in your medical billing process. Offshore revenue cycle management includes –

• Setup of Practice Management System/EMR System
• Scheduling, Eligibility Verification, and Pre-Authorization
• Patient Registration
• Medical Coding
• Customer/Patient Access Solutions
• Accounts Receivable (A/R) and Denial Management
• Credit Balance Resolution and Management

Offshore Medical Billing Process

Plenty providers and hospitals have taken resort to offshore medical billing services as it offers multiple advantages. A typical offshore medical billing company entails the following –

  1. Patient enrolment – All insurance information is recorded into the practice management system. Insurance validation and approval, which includes validating coverage and out-of-pocket payments, and if necessary, acquiring pre-authorization/pre-certification.
  2. Coding — All offshore medical billing companies have AAPC-certified coders that give the most relevant ICD, CPT, and HCPCS codes to the charge team, so that they can file charges in accordance with payment guidelines. Before submitting a claim, the codes and accompanying costs are meticulously reviewed for accuracy.
  3. Payment Posting – Payments are posted, and missing, and/or denials are identified so that corrective steps can be taken as soon as feasible in order to ensure full reimbursement.
  4. Accounts Receivable Management – AR analysts in an offshore medical billing company help you keep your accounts receivables in check, follow up with health insurers and payers, and take steps to collect payments that are past due.

Compliance with HIPAA

Providers don’t have to be concerned about information security when they offshore their medical billing. The offshore medical billing companies are familiar with all HIPAA standards and protocols, and take steps to safeguard the security of all medical information. Computers with firewalls and anti-virus programs are installed, along with monthly backup. The companies also take care of on-site shredding of hard copies of patient data, and are on top of the most recent regulatory developments and make necessary revisions to ensure compliance.

Operation Management

Dealing with the full medical billing procedure can be and exhausting and time-consuming. However, because the process is complex and challenging, it is critical to hire and train the appropriate personnel. When you take help of an offshore team, you gain access to a larger pool of trained individuals who can complete the assignment, saving time and resources on training and hiring. The candidates are found following a thorough assessment and qualifying evaluation phase, as well as an interview and reference checks. You acquire the finished output with less effort and in a significantly shorter time frame. We stay on top of the newest policy measures and make necessary adjustments to ensure compliance.

Quality Service

You can take advantage of offshore solutions with customizable turnaround times and no quality compromise. Additional benefits include: strict quality checks; daily, weekly, and monthly reports; no worry regarding time differences between offshore locations; and weekly meetings to learn about the progress and review data.

Patient Satisfaction

While you focus on the most important aspect of care, the offshore team takes care of the rest of the billing needs. Because of the time zone difference, the offshore company can accomplish end-of-day tasks before the day even begins! This frees up time for you to focus on your main job: patient care and happiness.

Offshore medical billing companies have been around for more than two decades and is a tried-and-true concept that has aided the expansion of several healthcare businesses in the United States. Due to the ideal time difference (about 9 -15 hours), a large English-speaking talent, stable Democratic governments, and ultimately the economic advantage that can be used, India is considered to be the best geographical option to offshore. Info Hub, a leading offshore medical billing company, is the appropriate partner to help you do more with your revenue cycle, whether you need component revenue cycle operations like medical billing, medical coding, or accounts receivable management, or you want to offshore the full chain of the process.

Offshore medical billing companies understand the need of cooperating with onshore revenue cycle teams, and working with physicians to minimize revenue leakage, enhance reimbursements, and improve processing quality. We recognize the impact of each step from credentialing and enrolment to billing and collections.

Info Hub, a well-established medical billing offshore company, provides services that give you access to the latest technology and qualified staff to assure your practice’s financial success. Individual and group practices, hospitals, clinics, and ambulatory surgery centers all benefit from our personalized medical billing services. From patient enrollment and verification to collections, our medical billing company has proven experience in all elements of revenue cycle management. We operate as an addition of your facility to assist you increase production and optimize reimbursements while lowering your overhead expenses by 30-40%.

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Importance of Accurate Payment Posting in Medical Billing https://infohubservices.com/blog/importance-of-accurate-payment-posting-in-medical-billing/ Tue, 24 May 2022 11:02:11 +0000 https://infohubservices.com/?p=45898 Payment posting in medical billing is one of the most typical issues faced by majority of healthcare providers. Payment posting is a basic stage in medical billing, yet it is the most critical and fundamental step in medical billing services and in the revenue cycle management. It assists a practitioner in quickly identifying and correcting a potential issue, saving time and avoiding annoyance. A structured payment posting process aids in increasing collection, resolving reoccurring problems early on, improving overall practice performance and efficiency, and patient satisfaction.

Importance of Accurate Payment Posting

There are multiple processes in the medical billing process, and a large number of claims are handled every day, so problems are certain to develop. When it comes to detecting payer issues, payment posting is typically the very first line of defence. Denials for medical justification, non-covered services, and prior consent will not be covered, which the team members will be able to address. It is vital to understand the significance of accurate payment posting in medical billing.

• Being the most important aspect of the medical billing services, payment posting allows the health system provider to keep track of incoming payments. Payment posting assists in recognising and resolving most challenges when it is simplified and well managed. Regular insurance costs from EOBs, ARAs, insurance checks, and patient payments are all included.

• Payment posting errors have an impact on the accuracy of claim submissions to secondary and tertiary payers. When the company’s insurance payment is incorrectly posted, the odds of the secondary and tertiary payers receiving the erroneous bill are higher.

• When looking for solutions to non-payment difficulties, such as claim denials, lack of prior authorization, and claim rejections, effective payment posting in medical billing is critical.

• Medical billing is broken down into several parts, each of which is critical to maintaining a steady cash stream. If the problem is identified at any of these stages, it can disrupt the crucial process of incoming money while also restricting the capacity to provide quality patient care.

• When an issue arises during the payment posting process, it can be resolved quickly or flagged while discovering possible patterns and reoccurring problems in medical billing processes. It can be utilised to boost the source of revenue over time.

Types of Payment Posting

Payment posting in medical billing is performed in one of two methods, depending on the amount of healthcare insurance and the patient’s financial capability:

  1. Manual Posting: This type of payment posting is done by administrative staff, and takes longer to complete. This type of posting carries a higher possibility of different problems, such as typos, which cause the payment to be delayed.
  2. Auto Payment Posting: Auto payment posting is a software-driven strategy that most companies pick as their digital solutions for a constant cash stream by accelerating the medical billing process. Few lone medical practitioners, on the other hand, believe that manually submitting payments restricts their command over their revenue-generating system.

Role of Payment Posting in RCM

Whether you charge in-house or through an outsourced medical billing company, payment posting is an important aspect of the revenue cycle. By monitoring daily trends within your practice, a well-done payment posting procedure can help you find possibilities to improve revenue. Payment posting has a very high potential for increasing earnings, and ironing out any creases in the medical billing process; hence is critical to have an accurate process in place. Payment postings are made using computer software, and after they are made accurately to a patient’s account, they provide a picture of the account details, services covered, and reimbursements to be received. As a result, the revenue cycle is managed in a systematic manner.

  1. Forbids Reoccurring issues – Payment postings entail updating postings and recognizing difficulties that may have occurred in the past, resulting in late payments. It aids in the resolution of such issues as well as the prevention of future issues.
  2. Denial Management – Payment posting aids in denial management by locating any possible denial posting and addressing the denial reason at an early stage, allowing for the management of denials and delayed payments. Payment posting assists in the identification of any secondary claims, which can then be generated and submitted.
  3. Electronic Remittance Advice – (ERA) is an overview of the insurance processing delivered to the provider, whereas the Explanation of Benefits (EOB) is an understanding of the claim process and any patient duties like as co-insurance, deductibles, and co-payments sent to the patient. Payment posting accuracy ensures that data from EOB’s and ERA’s matches payments and provides a clear picture of a practice’s financial status.

Payment posting is critical to assuring continual medical billing, claims reimbursements, and revenue cycle management success. A committed team of coders and professionals who are well-versed in the payment posting procedure give flawless assistance to healthcare providers at Info Hub. When providers opt for outsourcing their payment posting, a dedicated staff ensures that hospitals can focus on their core business and providing the best possible care, while medical billing and payment posting is handled by a professional team. To achieve efficient revenue cycle management, Info Hub ensures a holistic relationship between the numerous medical billing procedures.

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5 Common Telehealth Billing Challenges https://infohubservices.com/blog/5-common-telehealth-billing-challenges/ Thu, 19 May 2022 13:07:53 +0000 https://infohubservices.com/?p=45856 Since the outbreak of COVID, the usage of telehealth services has exploded as a viable means of accessing and delivering care. From expanding the types of cases, to a rapidly growing number of digital devices that cover multiple patient care needs, the telehealth business continues to extend its range of solutions. However, as telehealth services have grown in popularity, new problems have evolved in the fields of licensing reimbursement, acceptance, EMR integration, and accessibility of health and awareness.

Lack of Paperwork Checking

Some of the most common reasons for telemedicine claim denials when charging insurance companies and government payers include:

  1. Insurance does not cover this service
  2. The person is not covered by the policy anymore
  3. The provider is not in the network
  4. A pre-authorization was necessary
  5. Incorrect information, such as the person’s name, ID number, or date of birth

In a clinic or office, these are all fairly simple denials to avoid because front office employees may check all of this data well before the patient visits. Patients are frequently asked to fill out or double-check personal information, copy new insurance cards, and complete insurance verifications over the phone or through computer systems. When dealing with telemedicine, providers risk having most of these checks undone. Instead, the patient could go to an online site and fill out their own information before being examined by a therapist. Typos, confusion about the information, and plain deception can all cause the payment to be delayed.

No Clarity on Coverage

One of the most significant obstacles to reimbursement in telemedicine is that payers have yet to catch up to the trend. Telemedicine visits are not covered by all commercial insurance plans, and Medicaid coverage varies by state. Providers must utilize the correct procedure code, a GT modifier to indicate that the service was provided via interactive video conference, and the correct service code location.

Because one of the benefits of telemedicine is that businesses, clinics, and hospitals may tap on the knowledge of doctors throughout the country, it may take some time to set up billing systems that can handle many states.

Absence of Sufficient Data for Care Continuity

A failure of platform integration might also cause care to be interrupted. If a patient is given telemedicine from one provider but switches to another for the next e-visit, the other physician may not have all of the information required to diagnose the patient’s illness. This of course creates confusion in the billing with incorrect information being fed in, and consequently failure of full reimbursement.

EMR

Integrating Electronic Medical Records (EMR) with telehealth technologies is typically expensive and time-consuming. Due to a lack of integration, double documentation is required, that is not only time intensive but also offers possibility for error and unhappiness among employees. To accomplish HIPAA compliance and ensure the security of sensitive data, the most highly secure exchange methods must be implemented. As telehealth expands, new systems of care must ensure that communication between physicians and patients is maintained or improved, relationships are strengthened, and healthcare effectiveness and efficiency are improved.

Reimbursement

One of the most significant telehealth issues has been CMS and commercial payers’ restricted reimbursement options and amounts, especially in comparison to conventional on-site consultations. Payment parity rules have been established in 28 states, however there is no enforcement mechanism in place. During the pandemic, the Centers for Medicaid and Medicare Services increased reimbursement, but the longevity of this temporary modification is unknown. It is reasonable to predict that advantages, insurance, and payment for Telehealth services will continue to expand as consumerism takes centre stage and proof of the advantages of telehealth services accumulates. CMS and other payers are expected to continue to make a growing number of claimable codes available.

The advantages of telehealth greatly outweigh the challenges of implementing the technology. Info Hub is built on enabling clinicians to overcome such obstacles and make easy, patient-centered care more accessible. We have a team of professionals ready to assist in developing a successful telehealth programme that puts you on the cutting edge of the healthcare industry’s future. Our reimbursement experts at Info Hub can assist clients with reimbursement process for telemedicine. Info Hub, a leading offshore medical billing company has a team of technical professionals available to assist clients with the implementation of partial or complete integration into their EMR systems, resulting in increased efficiencies and less work for our clients.

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DME Billing done easy with Outsourcing https://infohubservices.com/blog/dme-billing-done-easy-with-outsourcing/ Tue, 17 May 2022 13:09:35 +0000 https://infohubservices.com/?p=45847 Executing medical billing services for a complex practice like DME (durable medical equipment) will be difficult for anyone to do unless they hire experienced billers and coders to help them. The process of securing payments is complicated by a number of factors, including patient validation, acquiring authorization in advance, using the necessary forms to file claims, and so on.

Aside from the other skills, it necessitates a thorough awareness of the reimbursement standards for all services rendered. Some of the other major roadblocks to receiving DME reimbursement are that they do not construct a comprehensive treatment plan. It would only cost a portion of the operation, and they would need the doctor’s approval. Medical providers have a lot to look out for when it comes to successful DME billing services and fair reimbursement, which may be time and money consuming.

Challenges in DME Billing

It is important to understand the challenges in DME billing in order to understand the advantages of outsourcing the process. Here are the most common challenges faced by DME providers –

  1. Services are not covered by Medicare or Medicaid health insurance plans
  2. In the Healthcare Common Procedure Coding System (HCPCS), that depicts level II codes issued to DME gear and supplies, there is a lack of sufficient foundation.
  3. These may be considered as therapeutic services

How Outsourcing Makes DME Billing Easy?

So, what are the benefits of outsourcing DME billing services? You make it easier in the long run by outsourcing the process because they are professionals with teams of professional billers and coders that have extensive knowledge of the paperwork needs for DME.

The billers and coders would also to deliver consistent quality services regardless of industry fluctuations such as changes in reimbursement rules, papers, and so on, and would aid with full reimbursement for executive actions. Outsourcing services give all information, from determining whether insurances are accessible for reimbursement to drafting and filing claims on time.

DME billing outsourcing companies handle claims, including proper codes, submit them, and follow up with insurance companies to guarantee that you are reimbursed on time. It also allows you and your personnel to focus on the vital medical operations at hand without having to worry about billing or collection issues. They work on all of the necessary processes and software complications to avoid claim denials, and also ensure that the billing process is streamlined for you.

How can DME Billing Partners Help?

If billing functions are handled incorrectly, claims may be delayed or denied entirely. Returning claims can be expensive and time-consuming. It may obstruct the company’s ability to generate income. DME billing companies offer expertise in every stage of the process, ensuring reducing claim denials and timely reimbursements that help in the overall profits of your business. Here are a few benefits –

  1. Reliability – When it comes to getting paid, the focus shifts to the invoice accuracy. It becomes a financial strain for payers when invoices and accompanying documents lack specific services, which is why it is critical to prepare bills with the greatest level of correctness and comprehensiveness. Outsourced billing companies submit your claims electronically through a secure system with complete internal billing control.
  2. Certified Professionals – Outsourced DME billing providers come with certified professionals to help you with your DME billing and coding. They are hired after extensive training and interviewing; thus, you can be assured of minimal to no errors in the billing process.
  3. Cost-Effective – Outsourcing your billing can reduce overhead costs and increase profits by providing access to professional services, technology and software.
  4. HIPAA Compliant – All DME billing systems are HIPAA compliant, so you can be certain that all of the sensitive information handled by the agencies is kept safe and secure at all times.
  5. Latest Technology – Most billing companies use the most up-to-date versions of the top DME billing software. They can assist you with enrolling your practice in any new software that meets your needs.

Info Hub Services, an offshore medical billing and coding agency comes with a long experience in DME billing. Our efforts have resulted in us becoming not only a technology-driven company that has implemented all of the most up-to-date electronic billing and verification tools, but also an agency you can collaborate with to ensure your expectations are met in the most effective way possible. With our dedicated teams for claim submission, payment follow-up and creating customized reports, we offer complete transparency and 24/7 access to your financial reports. Our billers and coders are constantly updated with latest information on DME billing regulations, and are adept with the nitty-gritties of the process. Successful DME billing and coding administration has proven to be a strategic advantage for doctors in today’s complex and growing healthcare economy.

Still have questions about how outsourcing DME billing services might help avoid stress? Call us at +1 (888) 694-8634 or email us at inquiry@infohubservices to learn more.

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