Offshore Medical Billing Services Archives - InfoHub https://infohubservices.com/blog/category/offshore-medical-billing-services/ Thu, 10 Nov 2022 09:17:22 +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 Offshore Medical Billing Services Archives - InfoHub https://infohubservices.com/blog/category/offshore-medical-billing-services/ 32 32 Why Healthcare Providers consider Offshore Medical Billing Companies in India? https://infohubservices.com/blog/why-healthcare-providers-consider-offshore-medical-billing-companies-in-india/ Thu, 10 Nov 2022 08:49:29 +0000 https://infohubservices.com/?p=47434 The medical industry is one of the most demanding. It requires doctors, nurses and staff on tight schedule and sometimes things can get overwhelming. In such cases, any help that will make things easier is welcomed. One such solution is – outsource medical billing to offshore medical billing companies. There are many reasons why a medical facility should consider outsourcing their services to medical billing companies in India. So, if you’re someone who is looking for such services, this article is for you.

Cost Efficient

In a little span of time, India has established itself as a prime destination for outsourcing of work processes. Since, there is no requirement for training, infrastructure and other miscellaneous tasks from the medical facility, this decision becomes a huge cost saver for the facility. Let’s not forget about the cheap yet skilled labour in India!

Time Is Money

The billing process can be a time-consuming procedure. Adding to that, there is always a possibility of error. Such mistakes can be costly. When you opt to outsource medical billing to an offshore medical billing company, then you are not only saving on time but also on money as they hire trained professionals who are less likely to make any errors.

Latest Technology

India has been chosen by many US based healthcare organizations to outsource their medical billing procedures. This is due to the fact that many such organizations in India are abreast with the latest technologies in the sector. Almost all the medical billing companies in India invest in latest technologies such as Work Process Automation and Revenue Cycle Report Software to ensure seamless functioning and error free process.

High Quality

In India, majority of the population comes under young category. Most of which are educated and possess good communication skills. They are also trained and skilled in many technical skills which cater to them while they are employed. So, when you outsource your process, you have a greater control. You can set the standards for skills and communication, and hire only those who make the cut. Since the young population is high in number, you get to choose the best.

HIPAA Compliant

HIPPA regulated the use and disclosing of an individual’s personal health information by some organizations. For any top medical billing company in India, familiarity with HIPAA is necessary. Also, they are required to take appropriate steps to protect the sensitive information on priority basis. Most of the outsourcing companies in India are HIPAA compliance certified and are qualified to handle sensitive information.

Smooth Transition

In India, many of the medical billing companies are equipped with latest technology and sophisticated hardware to ensure smooth work flow. This enables the offshore Indian company to work as a virtual part of the organisation. Intensive trainings can be easily managed through such facilities.

Perfect Timings

India has a unique geographical advantage which makes medical billing companies here the perfect choice for US healthcare facilities. It’s the difference in time zone. The Indian time zone is 12 to 14 hours ahead of the US time zone. This means, the billing can be completed even before your day begins!

Satisfied Patients

Customer satisfaction or in this case patient satisfaction is the most important aspect for any entity functioning in product or service-based industry. Dealing with the hassles of billing and complications can be very stressful and upsetting for the patient and their family. This can put them in distress thus resulting in an unpleasant experience. If you outsource medical billing services then do not worry, the medical billing company will take all the necessary care to fulfil the requirements.

We at Info Hub Services 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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Benefits of Hiring Offshore Medical Billing Companies https://infohubservices.com/blog/benefits-of-hiring-offshore-medical-billing-companies/ Tue, 04 Oct 2022 12:39:03 +0000 https://infohubservices.com/?p=47311 The number one priority will always remain the same regardless of the industry you serve, i.e., customers. Different terms can be used to represent them, but their position always stays at the top as patients in the case of medical institutions or hospitals.

But simultaneously, the healthcare providers are not only confined to this responsibility. There is much more to it, such as medical billing and coding tasks. Medical billing entails back-end tasks such as managing medical bill errors, improving cash flows, etc.

All this consumes time, effort, and resources, diverting the attention of healthcare providers away from patient care and concern.

What if we told you that you could do both with half the effort, time, and resources?

Believable?

Offshore medical billing and coding is the solution to this problem.

Let us walk you through the benefits of outsourcing offshore medical billing companies:

Many healthcare providers are making investments in cutting-edge technology, adding more dollars to their practice in terms of investment. But it’s not feasible for everyone at every time. That’s why hiring the best offshore medical billing company is necessary. Offshore medical billing companies have already made investments in several such technologies as:

1. Automation of Workflows

Many healthcare providers are making investments in cutting-edge technology, adding more dollars to their practice in terms of investment. But it’s not feasible for everyone at every time. That’s why hiring the best offshore medical billing company is necessary. Offshore medical billing companies have already made investments in several such technologies as:

2. Gaining Access to New Technology

End-to-end work process automation provides you with a real-time view of your process performance – collection efficiency – the possibilities are virtually limitless. In fact, managing an offshore workforce is simpler than you might think.

3. Revenue Cycle Reporting Tools

Customized reporting for healthcare providers is critical whether you run a hospital or a clinic. Provider-specific information such as collection trends, clinical documentation issues, and so on directs all the efforts towards improving the revenue cycle management.

A. Pay for Results

Instead of paying your in-house billers by the hour, how about paying only for results?

Offshore medical billing companies charge a percentage of the money collected on your behalf. These percentages can vary significantly depending on the different offshore medical billing companies you shortlist. However, paying for results is generally more efficient in the long run. After all, this payment model gives offshore billing companies a strong incentive to collect as much money as possible from you! What is beneficial to you is beneficial to them, and vice versa.

You always get what you pay for when you outsource medical billing services.

B. Protecting Patient Data

One of the most compelling reasons to outsource medical billing and coding services is its increased security.

According to the research, there were 222 documented cases of hacked medical records. More than 11 million patient records were impacted. Each year, these breaches cost the industry approximately $5.6 billion.

This is where the need arises for offshore medical billing companies that prioritize cybersecurity. After all, the trust healthcare providers place in them makes or breaks their business. A single data breach could ruin their reputation and put an end to their career. That’s why it is always recommended to do your research before hiring an offshore medical billing company. Check their previous security record to ensure they are trustworthy.

A good and experienced offshore medical billing and coding company will handle cybersecurity and always ensure the security of your patient’s records.

C. Avoid Underbilling and Overbilling

Did you know? If your practice consistently bills with the highest codes, you risk being flagged by your Medicare. This can lead to audits and/or severe penalties. On the other hand, if you bill too low, you may end up losing money.

So, how do you strike the perfect balance and bill at the appropriate level?

This is where outsourcing medical billing and coding services can help! Typically, offshore medical billing companies hire a coding expert who can advise you on how to bill neither too high nor too low. They’ll get your medical billing rates exactly where they need to be in order to optimize cash flow while avoiding an audit.

This is one of the most important benefits of outsourcing medical billing services to offshore medical billing partners.

Info Hub – Your Offshore Medical Billing Company

Info Hub is the right outsourcing partner to help you do more with your revenue cycle, whether you need medical billing, medical coding, accounts receivable management, etc.

Our Revenue Cycle Management solution portfolio includes the following solutions:

  • Setup of a Practice Management System/EMR System
  • Pre-Authorization, Scheduling, and Eligibility Verification
  • Registration of Patients
  • Coding for Medical Records
  • Submission of Claims – Rejection and Work Edits
  • Denial Management and Accounts Receivable (A/R)
  • Credit Balance Management and Resolution
  • Customer/Patient Access Solutions for Patient Support

We understand each action’s significance, from credentialing and enrollment to billing and collections. We also value collaborating with onshore revenue cycle teams and working with clinicians to address revenue leakage, improve reimbursements, and improve processing quality.

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Why Providers believe Outsourcing Medical Billing is Good Idea? https://infohubservices.com/blog/why-providers-believe-outsourcing-medical-billing-is-good-idea/ Fri, 30 Sep 2022 12:49:04 +0000 https://infohubservices.com/?p=47307 Medical billing services are more necessary than ever in the healthcare industry for efficient revenue cycle management. The ability to recognise the proper codes for each service provided to a patient, process invoices, and submit claims to insurance companies is essential to the revenue cycle. The billing for conventional medical practises was handled internally. However, businesses now provide billing services to help people avoid the headache of managing their own invoices.

Benefits of Outsourcing Medical Billing

While many healthcare providers maybe unsure whether outsourcing is a good decision for their practice or not, if done rightly, with the right medical billing company, outsourcing medical billing provides plenty advantages. Below are a few benefits of partnering with a medical billing agency. Let’s examine a few of them.

Reduces Administrative Costs

By choosing medical billing outsourcing, you may lessen the administrative demands for staff members who are solely responsible for billing and redirect the time previously devoted to training staff members for clerical tasks to what really matters: your patients. You can easily complete your own work by delegating billing to a corporation.

Eliminates Overhead Expenses

Insurance premiums, staff training costs, and software and salaries are possible overhead expenses. Less money spent on managing payments, and collecting compensation means more money is available for higher priority tasks, which can completely change how a medical practise operates. The majority of small medical practises lack the funding necessary to keep a well-run and adequately staffed billing department, which forces them to spend an inordinate amount of time and money on financial management. This can be fixed by using a physician billing service, which can change your approach to revenue cycle management and possibly even reduce your previous billing costs by up to half.

Latest Technology

Companies that deal only in medical billing and coding make investments in hardware and software. They also stay current with new developments in technology and in the field of billing and revenue management, which is something that many hospitals and clinics would find difficult to do on their own.

Data Security

Medical billing businesses professionally handle a variety of billing problems. They manage all patient information, including personal information, medical history, and other facts, in a discreet manner. They make significant investments in security infrastructure to protect patient data from loss and attack.

Reduce Errors

You can receive specialised billing and claim submission services from an outsourced billing company with little to no potential of error. They have qualified personnel, so your duty of revenue management will go more quickly and smoothly with fewer chances of mistakes.

Get Quick Reimbursements

Billing is the area of competence for billing companies; it is not a side job they take on out of need. They can process bills fast, deal with rejections right away, and re-bill after fixing problems. Claims are electronically submitted and configured to accept ERAs, according to billing services.

Focus on Patient Care

Nobody enrols in medical school with the intention of spending their entire career dealing with paperwork and insurance companies. Providing patients with high-quality medical treatment is what you do best. A billing company can handle the work for you, freeing up your time to interact with patients and lowering the need for non-medical employees.

Improved Returns

Typically, billing businesses outperform private practise billing departments by 15% when it comes to bill collection. This will directly enhance your practice’s earnings. In any industry, unpaid invoices are a cost of conducting business, but a billing company can drastically lower this expense.

When Choosing a Medical Billing Company

Selecting the proper billing firm for your practise is crucial. When doing so, some factors need to be kept in mind, such as investigating the medical billing services a firm offers and keeping an eye on a company’s speed in processing insurance claims. Additionally, it’s critical to consider if regular financial reports will be offered, their level of detail, the training that staff members receive, and how well-qualified those handling current accounts receivable (A/R) are.

In addition to helping with medical billing, Info Hub has designed its medical billing services to match the demands of a variety of practises in order to help them maximise their management potential and eventually retain more income. We’re here to help where it’s most needed, specialising in cardiology, gastroenterology, cancer, ASC, and more. Our staff can successfully secure the maximum profits for clients thanks to a focus on physician practises, insurance experience, and tested consultants. This frees up your medical practise to concentrate on what it does best: treating patients. Our knowledge is based on expert, technical, and international hospital and healthcare practise billing.

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Benefits of Outsourcing Medical Billing Services to Indian Companies https://infohubservices.com/blog/benefits-of-outsourcing-medical-billing-services-to-indian-companies/ Wed, 17 Aug 2022 12:12:05 +0000 https://infohubservices.com/?p=46820 Do you experience revenue losses, a rise in denials, or tardy reimbursement? Your medical billing may seem like a good candidate for outsourcing. The benefits of outsourcing medical billing services to India are widely known and understood, and many billing companies in the United States have started to take advantage of this knowledge. For many firms, outsourcing has not only helped them reduce costs, but it has also improved their bottom lines. Regulations and laws will undoubtedly continue to add to the existing system as the healthcare industry develops, forcing healthcare organisations, groups, and practises to search for more effective ways to conduct their operations.

India is one of the top nations that American corporations use for labor outsourcing. The top Indian firms provide assistance to the healthcare industry more than any other, especially in the area of medical billing. However, there are certain reasons why India does better than other nations. When most US healthcare businesses are looking to outsource medical billing and coding services, India ranks as the top destination. India’s dedication to remaining up to date with evolving technologies is one of the key elements in its growth as a significant hub for outsourcing healthcare services. In comparison to other nations, India provides the highest quality medical billing and coding services for a fair price.

In the competitive healthcare market of today, effective administration of medical billing, medical coding, and revenue management is a strategic goal for the sector. Outsourcing medical billing services is always the greatest plan of action for growing the business. Managing the issues with medical bills on top of a tight schedule would be risky.

Outsourcing medical billing services might result in significant revenue development. A medical practise should consider outsourcing medical billing services to India for a number of reasons, including the ones listed below:

Save Costs

Outsourcing medical billing services can help businesses and organisations save money. It is possible to cut back on staff, equipment, expenditures, and healthcare IT services. The effectiveness and consistency of processes for collecting money and managing cash flow can both be enhanced by outsourcing services. The need to reduce expenses has long been one of the main reasons for outsourcing. By outsourcing medical billing, hospitals can save money on staff salaries, educational costs, and other costs. Additionally, hospitals can save money on purchases of new or upgraded hardware, office supplies etc. Due to the possibility of receiving high-quality services at a lower cost, many customers choose specialised providers. Thanks to changeable pricing models, customers can select the one that best suits their needs (transaction, percentile, and FTE).

Quick Turnaround

One of the key advantages of outsourcing is that India’s time zone is 12–14 hours ahead of the US time zone. Medical billing and coding services can be finished and offered quicker than anticipated as a result. American time zones are generally 9–12 hours ahead of Indian Standard Time (IST). Another advantage of outsourcing your medical billing services to India is the fact that the majority of your billing and coding tasks are completed earlier than the turnaround time (TAT).

Reduced Labor Cost

You can spend much less money by outsourcing your medical billing because you won’t need to hire a dedicated team of medical billers. This will reduce the need for increased staffing, training, and labour expenditures.

Cost Effective

The cost of outsourcing medical billing services is lower and it makes more financial sense because there are no employees. There is less reason for concern when billing services are outsourced because the healthcare provider does not have to wait for any staff to submit claims. They are not required to spend money on employing and training employees.

Easy Transition

Today, a large number of medical billing companies in India are outfitted with state-of-the-art technology, cutting-edge software, and workflow management tools. As a result, healthcare outsourcing organizations do not need to be concerned with intensive training. It will be an easy and seamless transition. The staff will remain the same. In actuality, the Indian offshore firms will serve as a sort of virtual back office, offering complete support.

Experienced Team of Professionals

Outsourced billers and coders are knowledgeable and capable of handling even the most challenging claims. They are kept abreast of ongoing changes and satisfy quality standards by passing domain-driven examinations. You may decrease your denial rate while also boosting cash flow by using these experts to assist with your billing process.

According to reputable surveys in the outsourcing sector, India accounts for close to 50% of the global BPO market. India is the best alternative for healthcare businesses, not just because of labor prices but also because of the nation’s commitment to professionalism while serving clients from other countries.

Indian outsourcing companies make investments in cutting-edge technology and complex software tools to make sure they stay at the top of their respective industries. Healthcare organizations can still use and benefit from these capabilities and technology even if they don’t want to invest a lot in their digital transformation path. They can invest more revenue in capital projects while delivering finally superior services. India, which provides services to many foreign clients on a global scale, is a professional outsourcing partner.

Info Hub, a provider of medical billing and coding services, has accumulated significant expertise in addressing the revenue challenges faced by US doctors and hospitals, and has contributed to the healthcare institutions improved financial health.

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Can Offshore Medical Billing Companies benefit US Health Care providers? https://infohubservices.com/blog/can-offshore-medical-billing-companies-benefit-us-health-care-providers/ Thu, 04 Aug 2022 14:37:49 +0000 https://infohubservices.com/?p=46782 With over 20 years of existence in the medical field, offshore medical billing has marked its place among those that helped shape the growth of healthcare providers in the United States. India has been considered a viable choice in terms of advantageous qualities such as optimum difference in time, a vast mass of English speakers holding raw talent and zeal to grow, a firm and steady government body with  their respective policies. Lastly, leveraging systems of pricing models.

More than two third healthcare companies in the US have accounted for outsourcing medical billing services from offshore medical billing companies in India. As per the latest data, a whooping number of $66 billion has been estimated as the valuation for the US healthcare outsourcing industry by 2023.

Here is how offshore medical billing companies in india benefits US health care providers –

Subsequent Increase in Revenue

Any claims that are filed are all done so electronically, this reduces the amount of time levied to cumulate, thus preventing insurance denials. Prior to any form of submission, the claim forms are thoroughly analyzed by experts. Instead of making continuous calls to the insurance companies, an offshore medical billing company ensures to free up your staff’s time from these tasks, which enables them to concentrate on the task at hand that is having a proper and thorough discussion with the patients. Providing them with quality healthcare that they urge for. The overall result of all these processes leads to better revenue generation.

Cost-Effectiveness

Choosing to work with an offshore medical billing company helps the healthcare providers in cutting down major costs, without having an affect on the task qualities.  The offshore medical billing company handles the entire set of administrative processes of billing, collection, and coding to handle the billing. This also frees up the healthcare provider’s time giving them ample amount of time to focus on the training of the front-line workers as well as the smooth functioning of the IT department. In addition to that, they also have access  to the agency’s most qualified medical billing experts, making it effortless to expand the backend operations. Also, mistakes that could have been incurred, costing a substantial loss in the company’s accounts can now be used as the cost of infrastructural development, hiring suitable employees, and gathering various resources needed. This further can raise the standards for medical organizations.

Handling minute technicalities

Abiding the compliances is essential, even if it is in the healthcare industry. However, when an outsourcing medical billing services are brought into picture, it ensures every compliance of the law is abided and takes care of all the legal transactions on behalf of its client – however minute it may be. Most offshore medical billing companies are certified and can be considered compliant to tackle any kind of sensitive data. Whether it is Hitech or HIPPA, all will be taken care of. 

Lastly, let’s address the common confusion the healthcare companies have in terms of outsourcing medical billing services with the last point.

Extended support for consumer satisfaction

An offshore medical billing company is not the replacement of in-house staff, rather it acts as an extension to the already recruited and trained team. The work of these companies is to coordinate with the healthcare provider, in context to the claims and reimbursements. Their work complies with working and updating the current code system as per the guidelines issued by the government. Other duties are dealing with the insurance companies and continuous follow-up with the payer networks.

Wrapping up

By bringing in outsourcing medical billing companies, the healthcare providers are benefitted through and through. The biggest benefit is a sudden steep rise in patient satisfaction levels. With the utilization of premium technology and a team of specialists, the healthcare provider will be benefited from all ends, be it the revenue model or the consumer satisfaction model. Therefore, to answer the question raised as the topic of this article, “Can offshore medical billing companies benefit the US healthcare providers? The answer is a big YES.

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5 Reasons Why You Should Hire an Offshore Medical Billing Company https://infohubservices.com/blog/5-reasons-why-you-should-hire-an-offshore-medical-billing-company/ Mon, 25 Jul 2022 13:21:31 +0000 https://infohubservices.com/?p=46704 Back-end duties associated with medical billing include fixing billing problems and boosting cash flow, which takes time, energy, and resources away from patient care and concern. Billing errors can lead to lost revenue, extra work for your hospital staff, and a bad patient experience, all of which can eventually damage the reputation of your medical practice. But it’s not surprising that a lot of American medical practices have decided to outsource all of their medical billing and coding to foreign firms that specialize in this industry.

Is the financial health of your practice declining? Do your patients see the stress you’re under? There are several advantages to using the services of an offshore medical billing organization. Continue reading to learn about the most important ones that could benefit your practice.

Revenue Increase

All claims are submitted electronically, which reduces the time it takes to collect by preventing insurance denials. Before submission, claim forms are carefully reviewed by a knowledgeable team. Rather than making follow-up calls to insurance companies or entering data, working with an offshore medical billing company frees up your staff so they can concentrate on discussing with patients and their families the estimated cost of medical procedures, their out-of-pocket costs, and the payment options available to them. All of these will lead to better payment collection.

Compliance

Are laws and regulations stressing you?  When you interact with offshore medical billing service providers, they take care of all the transaction’s legal facets on your behalf. If the words HIPAA and Hitech give you the shakes, don’t worry—they’ve already been discussed. Most offshore businesses are certified and compliant to handle sensitive data.

Cost-Effective

Working with an offshore medical billing company handles the entire administrative process of billing, coding, and collection, freeing up your time to focus on the recruitment and training of front-line workers as well as the upkeep of an IT infrastructure. Additionally, you have access to the agency’s current pool of qualified medical billing specialists, making it easier and less expensive to expand backend operations. In addition to possible losses from mistakes, the cost of building infrastructure, gathering resources, and hiring employees can raise expenses for medical organizations.

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6 Reasons to Consider Medical Billing Companies in India for your Revenue Cycle Management https://infohubservices.com/blog/6-reasons-to-consider-medical-billing-companies-in-india-for-your-revenue-cycle-management/ Fri, 08 Jul 2022 11:45:54 +0000 https://infohubservices.com/?p=46603 The best strategy to expand the company’s reach is always to outsource medical billing services. In addition to a demanding schedule, managing the problems of medical bills would be riskier. India is the #1 country that most US healthcare organizations consider when they are looking to outsource medical billing and coding services. One of the main factors contributing to India’s rise as a significant hub for outsourcing healthcare services is its commitment to staying current with emerging technologies. India offers the highest caliber medical billing and coding services at a reasonable cost as compared to other countries. The advantages that healthcare organizations who outsource to India don’t end there.

Medical billing services can be outsourced to provide profitable revenue growth. Here are 6 reasons why healthcare practitioners to outsource their medical billing and coding services.

Quick Turnaround Time

India’s time zone is 12–14 hours ahead of the US time zone, which is one of the main benefits of outsourcing. As a result, medical billing and coding services can be completed and provided earlier than expected.

Staff Management

Hiring competent medical billing and coding professionals can be expensive.  Taking on financial difficulties in a small business run by a healthcare practitioner would be risky.  It is clear that the medical billing procedure costs, on average, 30 to 40 percent of collections.  Medical billing services can be outsourced, which allows healthcare providers to cut back on a lot of wasteful spending – they can eliminate the requirement to recruit a medical billing team as well as spending money on staff training and updating them on the most recent laws and regulations.  It’s not a simple task to train the workforce. If a claim is submitted with errors, they may be rejected, and overlooked claims may cost you money.

Compliance

When a business or organization talks about compliance, it indicates that the office is set up with a methodical program to carry out responsibilities in accordance with the laws. HIPAA regulates the use and disclosure of personal health information by specific organizations. The rules are in place to prevent fraud and abuse. The outsourcing organization becomes acquainted with the fundamentals of compliance as a medical billing team.

Easy Transition

Many Indian medical billing agencies today are equipped with cutting-edge hardware, sophisticated software, and tools for managing work flows. As a result, intensive training is not something that healthcare outsourcing companies need to worry about. The changeover will be seamless and simple. There won’t be a change in the staff. The Indian offshore companies, in fact, will function as a kind of virtual back office, providing full assistance.

Cost-Effective

Because there are no workers, the cost of outsourcing medical billing services is lower and it makes more financial sense. When billing services are outsourced, there is less cause for concern because the healthcare provider does not have to await submission of claims by any staff. They don’t have to spend on training staff and hiring them.

Business Continuity

It is quite difficult to carry on with commercial activities in an emergency. However, US healthcare organizations that prefer to outsource to companies in India can concentrate on bringing in new clients and expanding their business quickly. Disaster Recovery Centers are a common feature of the operations of Indian offshore contractors. They make sure that even in urgent situations, medical billing and coding operations function well.

One of the top countries that American businesses choose to outsource their labor to is India. The healthcare sector, more than any other, is heavily dependent on the top Indian corporations for support in a variety of areas, but particularly in medical billing. American healthcare organizations trust international experts to handle their revenue cycle management outsourcing. But there are distinct explanations for why India performs better than other countries.

India makes close to 50% in the worldwide BPO market, according to well-known polls in the outsourcing industry. The ideal option for healthcare firms is India, not just because of labor costs but also because of the country’s dedication to professionalism when dealing with international clientele. In-house billing teams can cost medical firms up to 60% less when the same function is outsourced to an Indian company, according to data reports. These benefits aid businesses in keeping costs under control while maintaining strong profit margins.

Indian outsourcing firms invest in cutting-edge technology and sophisticated software tools to ensure they remain at the forefront of their industry. Healthcare businesses who don’t want to invest a lot in their digital transformation journey can nevertheless benefit from these capabilities and use these technologies. They can simultaneously spend more money on capital projects and eventually provide better services. India, which serves numerous international clients worldwide, has the right professional approach as an outsourcing partner.

Info Hub, a medical billing and coding services company has gained tremendous experience in streamlining revenue woes or medical practitioners in US, and have assisted in a visible growth in the financial health of the company.

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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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What Are Write-Offs in Medical Billing https://infohubservices.com/blog/what-are-write-offs-in-medical-billing/ Thu, 02 Jun 2022 06:43:33 +0000 https://infohubservices.com/?p=46045 Are you wondering what write-offs in medical billing mean? Write-offs refer to the sum the provider must deduct from his accounts. Contractual write-offs and adjustments are two types of write-offs. The excess of the invoiced amount over the carrier’s permissible amount is wiped off as a contractual write-off. Each carrier’s pricing schedule will be placed into the billing system. When you’re publishing EOBs, these charge schedules, also known as system authorized amounts, will appear in the system. If the EOB permitted amount is less than the system permitted amount, the write-off will be the disparity between the billable amount and the system allowed amount. Or else, the write-off would be the gap between the billed amount and the EOB allowable amount.

Some of the most common types of necessary write-offs include charity, small balances, no insurance, and contractual adjustment.

Charitable write-offs—These are a basic courtesy that occurs when the fee schedule and the sum collected coincide. You may also refer to them as a fair endeavor to provide financial aid to the community while adhering to policy.
Small balance write-offs– These are taken into account when small balances on a patient’s account under $10 or $15 are deemed uncollectible. In primary care settings, practitioners will not mail small bills and will try to collect them when the patient returns to the clinic.
No insurance and prompt payment write-offs – These are usually provided by well-to-do offices that grant write-offs to patients who pay in full at the end of treatment or who remain uninsured or pay in full towards the end of the treatment.
Contractual write-offs– are the differences in fee-for-service and the maximum permissible in the patient’s portion that has been agreed to through a contractual adjustment.

Errors including missing an insurer’s timeline, diagnosis coding errors, illegible claims, inaccurate patient numbers, and registration issues all result in unwarranted write-offs that could have been avoided. Unnecessary write-offs are those for which you have not approved, and for which you grudgingly reduce the amount due to invoicing errors or situations over which you should have had control but did not.

• Timely filing write-offs occur when a claim is filed after the payer’s deadline. To be paid by Medicare, claims must be made no later than 12 months from the date of service. Medicaid coverage varies by state. Commercial payers typically have strict deadlines for filing, with most averaging three months. Make sure you’re aware of the deadlines for each payer.
• Uncredentialed provider write-offs occur when a claim is submitted for a provider before they have been credentialed by the payer.
• Bad debt write-offs are the amount that you’ve decided not to pursue any further.
• Administrative write-offs are the ones that the manager approves based on customer service complaints. If a patient has a particularly terrible experience at the office, the management may decide to offer a discount or write off the bill entirely. If you discount the service, make sure to file a claim for the adjusted rate, as you can’t charge the payer the full amount while discounting the fee to the patient.
• Collection agency write-offs are accounts receivables that have been written off the principal A/R (accounts receivable), and are being collected on your behalf by a third-party collection agency. These debts will not be pardoned. Some practice management systems have a separate collecting bucket or account receivable, whereas others don’t. Most practices will not set an appointment with patients who owe money to them until the debt is paid in full or the patient agrees to a suitable payment plan.

What does the term “provider write-off” imply?

The gap between the actual charge and the permitted charge is that a network provider can’t charge a patient with a health insurance plan that uses the network.

What is a healthcare write-off?

The amount deducted from the charges for a service delivered by a center that functions as a healthcare professional for an insurance provider are known as a provider write-off. The write-off could take the form of the insurance company refusing to bill the covered for specific services that surpass the insurance company’s authorized expenditures.

What’s the difference between the billed amount, allowable amount, and the write-off?

When you utilize an in-network provider, you don’t have to pay the difference between the permissible amount and the actual cost billed; your provider must simply write off the part of their billed amount that exceeds the allowed amount.

A write-off should only be used when you are qualified for the claim but are unable to recover money owing to conditions such as patient insurance that is not valid. This would be considered a legitimate tax deduction. Info Hub services, a medical billing company has a team of billers and coders who are professionals and are adept with the nuances and requirements of every billing aspect.

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