Medical Billing Services Archives - InfoHub https://infohubservices.com/blog/category/medical-billing-services/ Tue, 29 Nov 2022 14:43:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 https://infohubservices.com/wp-content/uploads/2019/10/cropped-INFO-HUB--32x32.png Medical Billing Services Archives - InfoHub https://infohubservices.com/blog/category/medical-billing-services/ 32 32 5 Best Practices to Recover your Revenue in A/R https://infohubservices.com/blog/5-best-practices-to-recover-your-revenue-in-a-r/ Tue, 29 Nov 2022 14:40:15 +0000 https://infohubservices.com/?p=47543 Medical practitioners overcome numerous challenges to get into the field. Sure, it’s a high skill based sector which has direct impact on patient’s lives. It is a noble profession. However, when it comes to revenue, this industry struggles just as much. Those working in medical field are already under a lot of stress. Simple errors can cause big losses and sometimes such losses are irreversible. Hence getting the best people to do the job is necessary. Speaking about finances in medical billing sector, any practitioner or a medical facilities primary financial goal is to collect maximum monetary reimbursement for the services provided. Keeping the revenue cycle running in a healthy way is crucial for the financial growth of the facility and also to boost morale of the employees. A simple strategy to counter this would be to set up an Account Receivables management policy for smooth running of your financials. So here are five best practices to recover your revenue in Accounts Receivable.

 

1. Regular Analysis of Denial Report and Errors

Till the time all due payments are completely process, a close observation of claims even after submission is strongly advised. This is done in order to track down any claims that are rejected or denied without missing any. This will also prove to be beneficial and will come in handy so that you can promptly work on AR recovery.

 

2. Identify the Root Cause

If you face frequent claim delays or denials or it happens quite frequently, it is very important to understand the pattern leading to such consequences. Once you study past claim denials or delays and understand what exactly causes it or if there are any frequent errors or missed information then it may help you to overcome a massive hurdle. It is advisable to locate and resolve the fundamental cause of such occurring in order to avoid them in future.

 

3. Tracking to Avoid Errors

Keeping a uniformed track of your accounts receivables will enable the providers with necessary data to identify customers who might be in the red zone. This will also provide with valuable data to understand any patterns or trends that can be evaluated to avoid claim denials or delays. The time and efforts invested in this process will eventually assist the healthcare facilities to track down and recover the otherwise lost revenue. This is vital for financial growth as well as boosting the morale of people who render their valuable services.

 

4. Outsourcing

The medical sector is one of the most stressful ones. Employees and those who are involved in rendering the services are already overworked and that can lead to many conflicts and exhaustion. Keeping in mind that most processes are cone manually and there is little to no scope for machines to interfere yet, any help possible is welcome. Hence, many medical facilities come to a decision to outsource medical billing services to medical billing company or a medical billing agency. It helps to increase the revenue since the medical billing companies in their team’s house those who have extensive knowledge and experience. It also reduces time and efforts required to train the staff from scratch.

 

5. Trained Staff

Having trained staff is always beneficial since they have the proper working knowledge of how to handle things if there are any errors or in case any challenges arise. The outcome will be superior quality wise and since there are lesser chances of errors occurring, you claims denial or delays will be reduced significantly.

Medical billing sector comes with its own set of challenges. A lot organizations now prefer to outsource medical billing services to medical billing agency. We at Info Hub are equipped with a capable team of experienced professionals. We provide one of the best medical billing services so you can be assured that your process is safe with us.

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5 Challenges Providers usually face with Medical Billing Process https://infohubservices.com/blog/5-challenges-providers-usually-face-with-medical-billing-process/ Tue, 22 Nov 2022 10:10:17 +0000 https://infohubservices.com/?p=47498 Medical Billing process is a tricky task. A simple error or missed information can cause delays or denials of claims which will have a major impact on the revenue cycle of the medical facility. That is why a lot of such facilities turn to medical billing agencies or medical billing companies to handle their medical billing process. And so far, the decision to outsource medical billing services has proven to be quite helpful to these organisations.

However, this process too comes with its own set of challenges which even the experts can have a hard time with. So here are the five challenges providers usually face with medical billing process.

Training Requirements

Collecting the patient’s data and processing it correctly are one of the most crucial parts of medical billing process. Since this is a tedious task, the probability of error increases tremendously. In order to avoid such errors, the staff which handles such roles needs to be trained thoroughly so that they have a deep understanding of how to handle things. Even if the patient’s information is correctly collected and processed, the staff needs to be well aware of how to track and follow up on it. Any errors during this process can result in adding up to already costly hospital expenses.

Multiple Claims

Due to the lack of technology, sometimes the person in charge needs to file multiple claims manually. This becomes even worse for the speciality providers. Depending upon medical speciality, one may have to file thousands of claims per week. Some billers lack the technology to process multiple claims at once so this requires the person in charge to file these claims manually which in turn creates hold ups and slows down the billing process.

Increasing Claim Denials

The medical billing codes constantly change all over the field. Amongst such rapid changes it gets hard to keep a track of it all. This can affect the overall goal and the revenue of the medical facility. It also comes with its other disadvantages such as low revenue leading to negative effects on the cycle. Usually, a computerised system helps in significantly reducing delays or denials on claims but that would require a skilled and highly trained professional to constantly monitor the system. Many medical facilities choose to outsource medical billing to third party medical billing companies who already house a team of trained professionals.

Outdated Technology

It is a known fact that when it comes to churning a big chunk of data, machines are more capable than humans. The factor of human error is completely eliminated and the technology designed will give out reliable data. However, if the medical facility makes use of outdated systems, then a fresh set of problems arise. Training individuals on outdated system is a task and while no proper knowledge gets passed on, errors are bound to happen which might even cause financial losses to the facility along with the precious time lost to locate and rectify the error.

Customer Support

While taking upon any task proper guidance is required. While it might not be the case every time but in medical billing process where precision is the key, a comprehensive customer support to guide the team is required. A lot of companies struggle with such services but this is crucial as the codes and procedure are getting updated frequently. A proper customer support to resolve any operational problems and to clarify things regarding the process is required to ensure seamless working of the process and also error free delivery.

Just like any other sector medical billing process also comes with its own set of challenges. So, a lot organizations now prefer to outsource medical billing services to medical billing agency. We at Info Hub are equipped with a capable team of experienced professionals. We provide one of the best medical billing services so you can be assured that your process is safe with us. To get the best services contact us today!

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How To Reduce Your Ophthalmology Backlogs https://infohubservices.com/blog/how-to-reduce-your-ophthalmology-backlogs/ Tue, 08 Nov 2022 13:53:33 +0000 https://infohubservices.com/?p=47422 Ophthalmology is a branch in medicine which deals with diagnosis and treatment of eye disordered or illness. A surgeon who is trained in this field is known as ophthalmologist. The procedures they perform include optic nerve problems, eye infections, cataracts and other conditions which affect the eye.

It is fact that doctors are overworked so this begs the question – is it advisable to put them under administrative pressure as well? This also arises a dilemma of keeping the practice afloat. Rendering services and not getting rightly reimbursed, can be detrimental for those who are involved in delivering those services. Such cases can have a high impact on job satisfaction levels of physicians and medical staff involved. It is just as important to maintain the financial health of the practice.

Understanding Ophthalmology Backlog

 Is your practice leaving hard earned revenue on the table? Between unpaid medical claims and outstanding patient balances, US physicians are leaving $125 billion on the table each year. Accounts receivables is the amount you are owed for the services you have performed and billed. A high A/R amount means that a sizable portion of your labour is going underpaid. To make sure you are getting paid on time and consistently, keep your A/R as low as you can. You can learn a lot about the state of your ophthalmic revenue cycle by taking the time to comprehend your accounts receivable (A/R) and how it changes over time.

How to Reduce A/R days?

  1. Start with the lowest – Sort unpaid balances and claims according to which can be recovered the quickest. Start with medical claims that have simpler problems that can be readily resolved by your team, such as erroneous patient or provider information, requests for further supporting evidence, or incorrect codes.
  2. Manage by payer – Keep an eye out for patterns in underpaid claims, such as those involving particular refused or excluded codes or practises requiring prior authorization or referral paperwork. Additionally, you can expedite your efforts by speaking with the insurance payer representative about several open medical claims at once.
  3. Focus on large outstanding amounts – You should be mindful that greater sums could be more challenging to get, particularly if they belong to the patient. You might want to think about setting up a payment plan with the patient for bigger patient debt or perhaps taking partial payment.

To assist manage the cash flow of your practise, you must continually measure, analyse, and work your accounts receivable (A/R), which is constantly changing. In order to prevent it from growing, you should ideally analyse your collection backlog every week and conduct a deep dive into your A/R every month. A sound medical billing process ensures the hospital stays profitable while also making sure that patients are treated with continued care. It creates a revenue cycle which is achievable and continues to thrive.

When it comes to medical billing which is time consuming and very tedious, it can be handed over to a medical billing company or a medical billing agency so that it can be taken care of by the third party organisation.

The billing must be done accurately, if not then an increase in errors and claim denials can reduce the revenue for the medical facility and this will have a direct impact on reimbursements. This is why accurate billing using the right codes is essential to ensure protection of the overall revenue and job satisfaction of staff involved.

Our staff at Info Hub Services, a medical billing company, can successfully secure maximum profits for physicians, and enable them to a focus on their practises. Our knowledge is based on expert, technical, and international hospital and healthcare practise billing for ophthalmology, helping you reduce backlogs with help of A/R callers, and grow your practice.


 

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Top 5 Offshore Medical Billing Companies Reviews https://infohubservices.com/blog/top-5-offshore-medical-billing-companies-reviews/ Tue, 25 Oct 2022 12:47:38 +0000 https://infohubservices.com/?p=47397 With the advent of technology, the healthcare industry has witnessed exponential growth in the last few years. Technology has been decisive in improving the health system in the U.S. With the increase in the demand for reasonable care among patients, the growth in the industry has been unprecedented. As a result, medical billing providers and companies have come under immense pressure to ensure error-free medical billing claims.

The process further becomes more challenging when there are regular updates ad changes to the medical billing, coding, and regulations. Hence, outsourcing offshore medical billing has become the norm to provide the best care to the patients while ensuring there is no revenue loss for the procedures provided to the patients.

Let’s have a look at the top offshore medical billing companies’ reviews:

Different Medical Billing Systems

There is a need to be aware of the different medical billing systems, especially when an offshore medical billing company in India is outsourced. The primary systems for medical billing and coding include:

Closed System

Any practice that requires focusing on a single practice without allowing the transfer of files falls under a closed system. The closed system is often used with the EMRs and doesn’t provide any access to collaboration with other healthcare facilities of doctors.

Open System

The open system enables all healthcare reports to be transferred across different healthcare facilities, practices, and professionals. This means the practice needs medical billing software that supports the open system to enable effective communication and collaboration. However, not all software can function or allow open systems.

Isolated System

The isolated system uses the personal health records (PHR) that the patients hold and is entirely removed from the practices, healthcare facilities, and other physicians. While these records cannot replace the EHR or EMRs, they must be used separately. Often, not understanding an isolated billing system can be complex.

Offshore Medical Billing Companies Reviews

Kareo

Kareo entered the healthcare software industry in 2004 with the goal of revolutionizing how independent practices managed their businesses. They now help over 150,000 users provide better care to their patients.

The Kareo Platform contains the software that:

  1. Provides an integrated and certified cloud-based EHR
  2. Assist with in-house billing and patient management
  3. Promotes patient engagement and helps your practice grow; and
  4. Results in the increased and faster collection

Dr Chrono

dr. Chrono’s technology assists medical practices in providing personalized care to their patients. They’ve been assisting healthcare organizations in removing administrative barriers since 2009. They now serve over 17 million patients and have tens of thousands of clients.

Among their solutions are:

  1. Direct claim creation from treatment entries and health records
  2. Duplication elimination
  3. Enhances the accuracy and speed of the claims billing process

AdvancedMD

Since 1999, AdvancedMD has been at the forefront of healthcare technology solutions. Their software helps process approximately 6.5 million insurance claims per year. Not surprising, given their 13,000+ medical practice clients.

The features of AdvancedMD software include the following:

  1. Medical billing
  2. Online scheduling and patient intake
  3. Charting and billing tools
  4. ePrescribing
  5. A self-service patient portal

CureMD

CureMD helps medical organizations of all sizes. Through advanced technology, their solutions can transform your clinical and administrative operations. It also ensures that you are complying with industry best practices and standards. CureMD’s all-inclusive solutions enable you to monitor your Key Performance Indicators (KPI) to increase revenue while tracking administrative tasks such as:

  1. Patient statements
  2. Management reports
  3. Fee schedule reviews
  4. Cash posting
  5. Charge entry

Info Hub – Offshore Medical Billing Company in India

Info Hub is another offshore medical billing company with over 200 expert billers and coders in one team. They successfully handle over 400,000 claims monthly, with over 800,000,000 AR every month. Their entire team of billers and coders work by understanding the practice, the specialties the healthcare facility offers, and the medical billing practices that would suit the requirement.

Info Hub offers:

  • A one-stop solution to all medical billing and coding requirements
  • Equipped with the latest software while being HIPAA compliant

Once all the offshore medical billing companies are reviewed, select the best option available per your practice requirements and patients’ needs. You can also contact the experts of Info Hub at +1 (888) 694-8634 to get a free consultation regarding your doubts.

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5 Signs That Say It Is Time to Partner with An Offshore Medical Billing Company https://infohubservices.com/blog/5-signs-that-say-it-is-time-to-partner-with-an-offshore-medical-billing-company/ Fri, 12 Aug 2022 10:44:34 +0000 https://infohubservices.com/?p=46808 Your priority as a healthcare provider should be your patients and the treatment the facilities offer rather than running your office’s finances. When it comes to medical billing for your practice, you may be tempted to stick with your current system than taking the effort to modify it when you take a closer look at how you manage medical billing. Do you think your practice is experiencing reduced revenue, or you are unable to handle overhead expenses? It is preferable to outsource medical billing and coding services than to manage them yourself in order to reduce your workload and save money. Here are 5 crucial indicators that can assist you in determining whether your company has to transition to offshoring your medical billing services:

1. High Staff Turnaround

Medical billing departments frequently experience high staff turnover, and the race to hire and develop your team can squander a significant amount of money at your clinic The timing may be right to choose a medical billing service rather than incur the price of hiring new staff if you have suffered staff turnover in your medical billing department or if you will soon be losing knowledgeable professionals to retirement. The cost of hiring, educating, and maintaining skilled billing experts in a clinic setting is rising. By choosing to outsource medical billing, your clinic will no longer have to worry about recruiting and training new employees or freeing up more time for patient care.

2. Revenue is Lower than Industry Standard

You can determine whether your finances could be stronger by looking at industry benchmarks and comparing your cost and sales figures with those. The cost of hiring, retaining, training, and providing benefits to your staff as well as the cost of in-house billing and collections are frequently costlier than outsourcing your revenue cycle management. It is likely that your practice has outgrown the internal billing system you initially used, and outsourcing your medical billing could result in cost savings and revenue parity with your competitors. Offshoring would still be a preferable choice even if the expenses are roughly identical between doing it in-house and outsourcing your revenue cycle management tasks.

3. Decreased Workflow Efficiency

It might be time to outsource medical billing if workflow efficiency is declining across your entire firm. By doing this, your staff is free to concentrate on patient-important responsibilities while a knowledgeable billing team keeps track of and scrutinizes claims to ensure smooth billing procedures.

4. Reduced Revenue

Reduced insurance company payments and inefficient coding and invoicing are the two main causes of many practices’ poor collections. It takes a lot of time and money to fully comprehend the issue and produce a report on the study of procedures. When you contract out your RCM services, the experts will assist you in rapidly identifying the problems and providing you with suitable solutions as well.

5. Keeping up with Regulatory Changes

The laws and regulations governing medical billing are set by the government and other organizations like the Centers for Medicare and Medicaid (CMS). It’s crucial to make sure that medical billers and coders are regularly informed about changes that affect the billing process as new rules are always being implemented by CMS and other third party payers. If your team is finding it challenging to keep abreast with these changes, it will reflect in the financial health of the practice. An offshore company with its employees is updated with every change in policies.

Move to Offshore Medical Billing

With extensive years of experience, Info Hub, an offshore medical billing service company offers unparalleled customer care. We offer revenue cycle management services to hospitals, surgery centers, primary care and specialty doctors, ASC and DME, anesthesia, and emergency medical services.

Furthermore, our team of trained billers and coders is committed to provide top-notch services so you can concentrate on your patients. You should consider offshoring your medical billing or entire revenue cycle management process to Info Hub to improve the financial health of your practice. Find out why we are your revenue cycle management solution by getting in touch with us right away for a financial evaluation.

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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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Why Do You Need Medical Billing Outsourcing Company? https://infohubservices.com/blog/why-do-you-need-medical-billing-outsourcing-company/ Mon, 18 Apr 2022 11:18:14 +0000 https://infohubservices.com/?p=45645 Medical billing is the lifeblood of hospitals, clinics, and medical groups. Medical billing services is the essential backend process that focuses on the financial part of the organisation, while patient care, treatment, procedures, and patient satisfaction are the primary activities. Unfortunately, due to the high volume of daily patients and a lack of time management, the billing process frequently is not prioritised. Outsourcing medical billing services is always a superior alternative for expanding a company’s reach.

Medical billing obligations that are not managed within the typical turnaround time (TAT) can be costly; however, medical billing outsourcing companies offer complete revenue cycle management solutions at a lesser cost with maximum ROI. Outsourcing medical billing services helps in profitable revenue development.  

Is your practice facing revenue loss or experiencing high claim rejections? Are you seeing piling A/Rs? Read on to learn why you might require the services of a medical billing outsourcing company.

Staff Management

It might be an added expense to hire well-trained medical billing and coding personnel, and would be a risk for healthcare experts to take up financial concerns. It is clear that the medical billing procedure consumes 30-40% of total revenues. Healthcare providers can save a lot of cash by outsourcing medical billing services. Staff training and staying updated with the latest norms and regulations can be avoided, as well as the requirement to hire a medical billing team.

Staff training is a difficult task, and errors in submitted claims can result in rejections, and undetected claims can result in revenue loss, in case the staff lacks the required knowledge.

Expertise

Outsourced medical billing companies are always on the lookout for people who are well-trained and knowledgeable about the billing and coding procedure. The claim submissions are less likely to be denied because the experienced team will know how to approach the insurer for a full payment. Payment clearance comes at a higher price in terms of medical billing and coding abilities, expertise, and experience. Unless the claim is returned, in-house billers remain largely unaware of the insurance companies’ new policies. In their hectic schedules with patients, most healthcare providers will not have time to interact with their employees about payments.

Stay Updated

Insurance companies, whether private or public, are always changing their procedures and regulations. It takes a full-time job to remain on top of current laws. With an outsourced company, your practice can delegate that responsibility to someone else while remaining assured of staying on top of updates and not losing time or money due to errors.

Enhance Patient Satisfaction

Clients may concentrate solely on patient care because the outsourced vendors’ primary goal is to maximize income. Outsourced medical billing services ensure that each code is quickly reimbursed, that errors are promptly recognised, and that denials are followed up on without wasting time. On the other side, healthcare professionals are able to provide outstanding customer service to their patients, and allows them to be kind and empathic.

Compliance

To secure PHI and claims processing, outsourcing billing companies are completely compliant with HIPAA and other applicable requirements. The Health Insurance Portability and Accountability Act (HIPAA) governs how certain entities can use and share personal health information. The rules are in place to prevent fraud and abuse. The outsourcing agencies are familiar with the essentials of compliance as a medical billing team. Billing is generally steady and secure at well-established outsourced medical billing companies.

AR Management

AR management and recovery are both, cost-effective and contribute to lower internal costs. In-depth understanding of insurance firms’ operations and healthcare. It isolates high-risk receivables so that they can be followed up on more quickly. When medical billing services are outsourced, the collections of healthcare providers are maximized by highly qualified AR experts.

Cost Effective

Because there is no staff, the cost of outsourcing medical billing company is lower and makes more financial sense. When medical billing services are outsourced, the healthcare provider does not have to wait for any staff to submit claims, which makes it less stressful. It assists the provider at any time and in any location.

Info Hub is one of the leading offshore medical billing agencies in India, offering comprehensive medical billing and coding services. Info Hub can offer customized billing to all specialties, owing to its long experience and competence in 30+ billing software. We’re here to free up your time so you can focus on providing excellent healthcare to your patients. Contact us for a no-cost assessment of your healthcare process and suggestions on how we can help you become more lucrative, and see what an impact we can make!

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Why Outsource Medical Billing Services to India? https://infohubservices.com/blog/why-outsource-medical-billing-services-to-india-2/ Tue, 29 Mar 2022 11:12:10 +0000 https://infohubservices.com/?p=45576 Are you facing revenue losses, increased denials or are you not getting reimbursed on time? Outsourcing your medical billing might seem like a viable option. Many billing firms in the United States are well-informed and aware of the advantages of outsourcing medical billing services to India, and they have begun to use it as a tool to gain broader economic advantages. Outsourcing has not only been a cost-cutting saviour for many businesses, but it has also helped them improve their bottom lines. As the healthcare industry evolves, it is certain that regulations and policies will continue to add to the current system, causing healthcare companies, groups, and practices to look for more efficient ways to run their businesses. The successful management of medical billing, medical coding, and revenue management is a strategic objective for the sector in today’s complex healthcare market.

The expanding use of offshore outsourced billing partners, as well as the growing number of offshore based medical billing organisations, is proof of the additional advantages and benefits of outsourcing medical billing services to India. Outsourcing medical billing services is always a superior alternative for expanding a company’s reach.

The following are some of the reasons why a medical practise should look into outsourcing Medical Billing Services to India:

1. Improve Cash Flow and Save Costs

Medical billing services can be outsourced to save money, which is why many firms and organisations do so. Training, staffing, infrastructure, investments, and healthcare IT services can all be minimized. Outsourcing services can also improve the efficiency and consistency of cash collection and cash flow processes. One of the key motivations for outsourcing has always been to save costs. Hospitals can save dollars on wages, learning, and benefit by outsourcing medical billing. Hospitals can also save money on office supplies, furniture, and hardware purchases or upgrades. Many customers prefer specialist vendors because they may get high-quality service at a reduced price. Clients can choose the solution that best matches their needs thanks to the variable pricing models (transaction, percentile, and FTE).

2. Time Difference Benefit

The time zones in the United States are around 9 to 12 hours ahead of Indian Standard Time (IST). The fact that most of your billing and coding processes are done before the turnaround time is an added benefit of outsourcing your medical billing services to India (TAT).

3. Reduced Labour Costs

Outsourcing your medical billing can help you save a lot of money by eliminating the need to engage a professional medical billing team. This will help in minimizing the additional costs of staffing, training and labour.

4. Increased Focus on Patient Care

Being a competent doctor and an office manager at the same time is never easy. Hospitals can free up staff time and secure greater returns by shifting resources away from difficult billing problems and toward helping patients. These high-value activities help the centre not only produce more cash, but also build and maintain a more successful practise with a dedicated patient base. As a result, healthcare professionals can focus on what they do best: practising medicine and treating patients, rather than navigating between payers and regulatory obligations.

5. Adherence to Billing Compliance

Compliance is always thoroughly integrated into all operations of an established firm. External and internal audits will be carried out to reinforce these rules and procedures. Outsourcing to offshore medical billing firms is similarly safe and secure because they observe and follow all applicable rules, guidelines, and compliances to preserve PHI, and are discreet in their treatment of all information compiled by their buyers. You can have faith in the reliability of an offshore medical billing firm because they manage all data supplied in a secure manner, adhering to all standard rules and HIPPA requirements.

6. Better Control

You can still access all of your claims and reports from anywhere if you have a specialized offshore medical billing staff handling your claims. Offshore outsourcing allows you to have more control over your billing process, and the offshore billing team is only a phone call away if you have any questions. A great offshore medical billing partner will also help make it easier with bandwidth to focus on customer relations and expansion rather than on measuring and reviewing every solitary issue.

7. Experienced Team of Professionals

Outsourced billers and coders are well-trained and competent to handle even the most complicated claims with ease. They are kept up to speed with continual changes and successfully pass domain-driven assessments to fulfil quality standards. By enlisting the help of these specialists for your billing process, you can reduce your denial rate while simultaneously increasing cash flow.

Info Hub is a leading medical billing company in India, providing complete RCM services to over 80 clients across the United States and specialising in a variety of specialties. Info Hub assures to act as a virtual back office for all your medical billing and coding needs, having been certified for quality process and information security management in accordance with HIPAA.

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Most Common Medical Billing Errors Physicians Generally Neglect https://infohubservices.com/blog/most-common-medical-billing-errors-physicians-generally-neglect/ https://infohubservices.com/blog/most-common-medical-billing-errors-physicians-generally-neglect/#respond Mon, 14 Mar 2022 12:01:51 +0000 https://infohubservices.com/?p=45488 The healthcare industry relies heavily on medical billers and coders, who send bills to insurance providers, which then pay claims. Errors are bound to happen, especially when working with the thousands of codes a medical biller or coder must know. The International Classification of Diseases, Tenth Revision (ICD-10) was developed by the World Health Organization to classify and code all diagnoses, symptoms, and medical procedures. As a medical coder, the ICD-10 codes you employ make it simple to communicate and compare patient medical information across hospitals, regions, and providers. They also make sure that the billable procedure corresponds to the diagnosis. However, there are a few common medical billing errors that go neglected at times.

Unbundling

Some medical billing codes in hospitals are intended to be used for a collection of treatments that are regularly performed together. Unbundling occurs when certain services are priced separately under different codes. It should be highlighted that unbundling is a prohibited practice because it might inflate a practice’s or center’s revenues, even if it happens by accident. Unbundling can have serious repercussions. Medical billing codes change often to comply with current healthcare legislation, newly-discovered illnesses and ailments, and novel therapies.

It is important to ensure your team has the material they need to stay up to date on all new codes and billing practices. It will save you time, money, and potential legal troubles in the long run, despite the fact that it is time-consuming.

Upcoding

When a code for a far more costly therapy than the one provided is reported to the insurance company, it is known as upcoding. This can happen as a result of an honest mistake, but hospitals and other providers have been discovered doing it on purpose. It’s against the law, and it’s a ruse. In a case involving an injury, an examination of the codes on your medical bills will very certainly be required to decide what is fair and reasonable. One of the first things you should do is double-check that the treatment statement on your Explanation of Benefits corresponds to the therapy you recall getting.

Duplicate Billing

When the same code is entered more than once for the same treatment or operation, it is referred to as duplicate billing. This frequently happens when a claim is re-submitted without being removed from the patient’s account. As a result, every claim’s processing system has a filter that examines each claim received for the possibility of duplication. It’s one of the most common medical billing errors, and it’s most likely just a mistake where someone accidentally entered the same code twice. Nonetheless, it is critical to verify that the therapy provided is accurately represented so that the patient and the insurance company pay the correct amount for the care.

Unsupported Diagnosis Code

Procedures have specific diagnostic codes, and if you select the wrong diagnosis code to receive payment for that procedure, you will be denied. Doctors should identify the Local Coverage Determination (LCD) and insurance rules for the top 10 procedures performed in the practice and prepare a “cheat sheet” for the medical staff. The procedure, each insurance company, and the diagnosis codes covered by those carriers are all included in the “cheat sheet” form. You can quickly determine whether the patient is covered for a procedure before performing it.

At the end of the day, each medical service provider bears a significant amount of responsibility. Aside from ensuring that their patients receive the finest quality medical treatment possible, they must also ensure that their staff and colleagues follow the federal and state government’s billing requirements. That’s where Info Hub, an offshore medical billing company based out of India can play an important role in your practice, ensuring you are paid every last dollar and do not lose revenue on common medical billing errors. To help you avoid typical errors and blunders, Info Hub employs a high-volume professional strategy to medical billing services. We are excellent resources to partner with because we have decades of knowledge and can swiftly and effortlessly repair problems.

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Most Common Errors In Medical Billing Services https://infohubservices.com/blog/most-common-errors-in-medical-billing-services/ https://infohubservices.com/blog/most-common-errors-in-medical-billing-services/#respond Tue, 01 Mar 2022 08:00:50 +0000 https://infohubservices.com/?p=45465 Our team of professionals from Info Hub, an offshore medical billing company in India assists in boosting your revenue with reduced claim denials and timely payments. Get rid of basic medical billing errors with Info Hub, one of the leading medical billing service providers in India. We leverage our expertise and offer customized solutions based on your specialty and practice. 

Basic errors in medical billing, such as typographical errors or data entry problems, are frequently the source of inaccuracies. Unfortunately, even a minor mistake might cause a significant delay in claim reimbursement. Missed payments, which rely on continual reimbursement, weaken the lifeblood of a healthcare facility. It is the responsibility of health practitioners and coders to prevent such errors from occurring, and to communicate properly with the rest of their team. While it comes to medical expenses, you must avoid processing or coding errors when filing claims. Because successful requests account for the majority of healthcare professionals’ revenue, any mistakes you make can cost you and your employer a lot of money.

Read on to know about the most common medical billing errors and how offshore medical billing can help in minimizing these errors. 

Incorrect Identity Numbers

A typical medical error is having the wrong patient ID number. Any claims that have been rejected owing to an incorrect ID number will have to be resubmitted. To avoid making this mistake, double-check the spelling of the patient’s name, as well as the date of birth and gender. Also, reconfirm that the insurance payer is correct and the policy number is valid. Check to see if the claim requires a group number, if the patient’s relationship to the insured is correct, and if the diagnosis code corresponds to the procedure conducted. Finally, if you have numerous insurances, ensure the primary insurance is identified as such.

Claim Filing Date

If a proper claim is made but not within the insurance company’s submission time window, it may be denied. The ‘Date of Service’ or ‘from’ date on the claim form is the start date for a Medicare claim. The claim must be submitted well in advance to the proper Medicare claims processing contractor. A claim that was sent before the deadline but received after the deadline will be denied. To receive adequate reimbursement, it is critical to understand the required supporting documentation. Commercial payers and Medicare have differing rules for what constitutes timely filing of claims.

Invalid Procedure Codes

The diagnostic and procedure codes are updated on a regular basis. Each diagnostic must be coded to the code’s greatest level. Simply explained, by linking your diagnosis code to your procedure code, the code linkage demonstrates medical necessity. To put it another way, your condition must correspond to your treatment. This shows that you believe your doctor’s operations were medically necessary and that you should be compensated for them. You will not be charged for the claim if the code relationship does not reflect medical necessity.

Submitting Claims to the Wrong Provider

One of the most common, yet superficial, medical billing errors to avoid is filing a claim with the wrong insurance company. This frequently happens if you aren’t given a copy of the insurance card or if you don’t pay attention. Any missing information might lead to a rejection, but the most typical ones are the date of the accident, the date of the medical emergency, and the date of onset. Ensure that all claims are thoroughly examined for missing fields and all required supporting paperwork is attached.

Info Hub, an offshore medical billing company, India uses a high-volume, expert approach to assisting you in avoiding typical billing issues, or when errors do occur, we promptly and seamlessly repair them. We’re a great resource with decades of experience who can help you get paid fast and easily by providing specialized collection and claims processing, among other services.

We understand the difficulties of balancing high-quality patient care with the business of running a successful practice. We have the experience and training to keep you successful and help you build your business, as well as the expertise and commitment to decrease, if not eliminate, typical errors so you can maintain a steady cash stream, free of setbacks.

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