Offshore Medical Billing Services Archives - InfoHub https://infohubservices.com/category/offshore-medical-billing-services/ Mon, 30 Jan 2023 10:30:57 +0000 en-US hourly 1 https://wordpress.org/?v=6.1.1 https://infohubservices.com/wp-content/uploads/2019/10/cropped-INFO-HUB--96x96.png Offshore Medical Billing Services Archives - InfoHub https://infohubservices.com/category/offshore-medical-billing-services/ 32 32 “No Pain, All Gain” – Hiring An Offshore Medical Billing Company https://infohubservices.com/no-pain-all-gain-hiring-an-offshore-medical-billing-company/ Mon, 30 Jan 2023 10:22:02 +0000 https://infohubservices.com/?p=47819 Keeping in mind the stress and time-sensitive nature of the medical industry, many facility providers are always on the lookout for the next best thing. When you opt for offshore medical billing services, not only will you save precious time and stress for your employees, but you will reap great benefits for your practice.

In this blog, we will look into how offshoring such a tedious process can prove helpful.

Quality Talent

Companies that specialize in medical billing, house a pool of talent who have a sizable amount of experience in the medical billing field. Along with that, they also possess the right knowledge and are abreast with the latest developments in the healthcare industry. A combination of these skills gives you a team that delivers error-free and quality claims submissions.

Increased Focus on Patients

Shaking off a major time-consuming task such as medical billing provides domestic staff with much-needed time to focus on areas that require improvement and attention such as administrative tasks. Improving such tasks can be greatly beneficial for patient relations and employee engagement.

Best For Revenue Cycle Management

When you hire an offshore medical billing agency, it plays a huge role in improving your revenue cycle by optimizing the claim submission process and reducing the occurrence of revenue leakage due to denials. This leads to improvement in the quality of the revenue cycle with accelerated cash flow.

No Underbilling Or Overbilling

The medical billing agency houses a medical coder who provides expertise on how the medical billing facility is not supposed to bill too high or too low. Such scenarios of underbilling or overbilling can attract penalties for your practice.

End to End Medical Billing Solution

An offshore medical billing services company can provide you with a number of benefits such as a setup of practice management system or EMR system, registration of patients, eligibility verification, pre-authorization and scheduling, precise coding, denial management, patient support with customer and patient access solutions, credit balance management and resolution, account receivable or A/R, claim submission with rejection or edits of work.

No matter how big the medical facility is, the procedure of medical billing takes time. And while the above-mentioned list is concise, there is much more than an offshore medical company can offer.

Reduced Stress For Internal Staff

When the workload is high, human errors are bound to take place. And when the staff is new to the job, the initial struggle while switching to ICD-10 is bound to take place. This is more common in smaller medical facilities most likely to be understaffed. In such cases, more time and effort are employed to fix the issues such as claim denials. These factors add up to the already stressful work environment. Such errors occur on lesser occasions when you outsource the medical billing procedures to an offshore medical billing agency with experienced staff. This can then lead to reduced stress on internal staff and allows them the necessary time to focus on other tasks.

Lower Costs

While the idea of offshoring your medical billing process might sound costly, it’s actually very cost-effective. It is reasonable to hire medical coders offshore compared to domestic ones. They also have an extensive amount of experience in the industry, so not only are you saving in terms of hiring costs but also when it comes to savings in the long run.

Considering the many benefits that an offshore medical billing company offers, many medical facility providers are now opting to outsource medical billing to an offshore medical billing company or medical billing agency. With all the benefits they provide, it is hard to turn down such a deal.  At Info Hub, which is one of the leading offshore medical billing companies, our team offers expert medical coders that are highly skilled and certified, being one of the best at their jobs. No matter the specialty, we extend impeccable and flawless services for increased profits to every medical billing practice.

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Improve Patient Engagement By Hiring An Offshore Medical Billing Company https://infohubservices.com/improve-patient-engagement-by-hiring-an-offshore-medical-billing-company/ Wed, 25 Jan 2023 10:54:39 +0000 https://infohubservices.com/?p=47782 Since many medical facilities are now opting to offshore their medical billing services to medical billing company or medical billing agencies, it not only saves them substantial amount of cost but also gives them space to concentrate on other areas like employee satisfaction and improve patient engagement.

Maintaining good patient engagement is necessary as it will help in reputation building of the medical facility. In this blog we will learn about how hiring an offshore medical billing agency will help you improve patient engagement.

 

High Quality Patient Care

Since medical billing is a time consuming task and is still prone to human errors, many medical facilities tend to save a lot of time when they outsource their procedures to an offshore medical billing company or medical billing agency.

When time is saved, core medical staff can concentrate on their job in a much better manner. That is why, services which they provide can be of high quality leading to lesser complications. This can provide the medical facility with dual advantage as it will provide the client with satisfying services and quick billing.

 

Patient Satisfaction

A satisfied patient is a success in itself for any practice. Patient satisfaction can be achieved by providing quality services, open communication and educating them about their patient care journey. Since medical billing procedures are data heavy and prone to errors, there is immense pressure on the staff.

When you decide to offshore medical billing services to an offshore medical billing company, patient satisfaction can be achieved in a number of ways. In could be in terms of medical service and better medical billing.

 

Improve Practice Reputation

Maintaining high levels of reputation in medical industry is vital as this industry gives a lot of importance to credibility. A simple rumor or complaint can ruin the image of the medical facility.

A lot of things can be a put off. It could be simple inconveniences or some major dissatisfaction with procedures performed. A lot of things could go wrong but keeping the patient happy is the only way to avoid it.

Similarly, a good word travels fast too. Even during these days, a lot of people rely on recommendations provided by friends and family in order to receive any treatment. This can be extremely beneficial for the facility.

 

Employee Satisfaction

Happy employees make a happy organization. And when the employees are happy, they tend to provide better services. And with this, the trust levels between the patients and the medical facility at quite strong.

And when the employees are happy with their jobs, they are less likely to resign early. This saves the medical facility tones of resources in terms of training and hiring.

When the facility outsources medical billing to medical billing company or agency, a big chunk of their time consuming work is done away with. This keeps the employees stress free. Outsourcing of medical billing can have substantial impact on the medical facility’s reputation, improve its revenue and can help improve patient interactions along with providing high levels of employee satisfaction.

Since the medical facility decides to give away one of the most stressful parts of their processes, employees are more relaxed on the job and invest it in client servicing. This thus balances both sides, delivering happy employees and clients.

 

Conclusion

Info Hub Services is one of the leading offshore medical billing agencies that come with extensive experience in streamlining RCM services for every specialty. At Info Hub, we house a team of experienced professionals who have in-depth experience of medical billing industry. Being HIPAA compliant and working hard towards reducing claim denials that will lead to revenue generation, our team is available round the clock to ensure practice growth and patient satisfaction.

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How Offshore Medical Billing Companies can help Providers in 2023? https://infohubservices.com/how-offshore-medical-billing-companies-can-help-providers-in-2023/ Wed, 18 Jan 2023 12:48:19 +0000 https://infohubservices.com/?p=47690 Medical field is notorious for keeping its staff on their toes. While it does provide a high level of job satisfaction, it is also one of the most stressful industries to work for. In such a scenario, adding up any more tedious tasks can disrupt the work life balance amongst employees. That is why many medical facilities are now opting for a medical billing company to make their medical billing process efficient.

Being a detail oriented industry, a single error in billing procedures can have a direct impact on the medical facilities’ finances. In this blog, we will discuss how offshore medical billing companies can help their providers in the year 2023.

Expertise 

Most medical billing agencies and medical billing companies house staff that is well trained in the medical billing procedures and have extensive experience in the field. You can leverage their expertise and experience in medical billing and coding, along with other know-hows of the medical billing process.

Cost Saving

An offshore medical billing company enables saving costs by removing overheads in your practice. Be it hiring staff, ensuring updated knowledge, investing in EHR or covering other miscellaneous costs, medical practices have boatloads of expenses. This can be resolved by cost-effective offshore medical billing agencies that can help providers lower their costs while increasing profits.

Time Efficient

Since medical billing procedures are prone to a lot of errors occurring due to human tendencies, such errors can lead to a lot of claims getting denied or delayed. This can lead to a lot of time spent to track to rectify them. In such cases, outsourcing medical billing process to offshore medical billing agencies can help, all thanks to the staff which deliver quality output.

Reduced Claim Denials

Your in-house staff may not be competent enough, or you may face a paucity of trained coders and billers to ensure error-free claims submission. Claim denials are one of the prominent reasons for loss of revenue, and if you don’t have a dedicated team to check into the causes for denials and rejections, there are grim chances of you being fully reimbursed. Offshore medical billing agencies are equipped with the skillset to determine denial causes and to do all that it takes to turn lost revenue into dollars.

Automation

Most offshore bulling companies invest in latest technology that make the entire medical billing process simple. With such tools and software at your disposal, there is little room left for errors in the RCM cycle. Practices can leverage this automation to grow their practice.

A/R Management

A/R follow-up is crucial to ensure a good flow of revenue. The team is responsible for checking denied claims and opening them up for maximum reimbursement. If your practice lacks an A/R team, you may want to consider offshore medical billing, who with their dedicated team will help maximize the revenue for services rendered.

At Info Hub, we house a team of extremely talented and experienced personnels which can help you improve your medical billing and revenue cycle to its maximum potential. From credentialing, to eligibility verification and medical billing, our team is always around to assist physicians in addressing revenue leakages, increasing reimbursements and boosting their RCM Cycle.

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How Can Physicians provide PCM Effectively? https://infohubservices.com/how-can-physicians-provide-pcm-effectively/ Wed, 11 Jan 2023 12:35:04 +0000 https://infohubservices.com/?p=47635 Understanding PCM

With effect from 2022, Medicare stopped using two Healthcare Common Procedure Coding System G codes and started accepting four new CPT codes for principal care management (PCM) – CPT Code: G2064 and CPT Code: G2065. According to experts, the new codes give doctors the chance to increase outcomes while also increasing their earnings because they are paid at a greater rate than the G codes.

In that both services are provided to patients who need continuous clinical monitoring and care coordination, PCM and chronic care management (CCM) are comparable. To be eligible for PCM, patients must only have one complicated chronic condition, as opposed to three or more for CCM, which is the opposite of PCM.

 

How Will PCM Affect Healthcare Industry?

Practitioners may now be compensated for giving their patients care management solutions that are more focused within their own specific area of specialty thanks to the new PCM codes. A patient’s primary care doctor may nevertheless offer more comprehensive care management services as necessary. The new PCM codes, like the CCM codes, may be used in conjunction with Remote Patient Monitoring codes (CPT Codes 99453, 99454, 99457, and 99091), and they may be used incidentally by a billing practitioner while being overseen by the clinical personnel performing the services.

 

Learn About the Principal Care Management Billing Criteria

Patients must have one complex chronic disease that satisfies all six of the following requirements in order to be eligible for principal care management (PCM) billing.

  1. Should persist for at least three months.
  2. Significantly increases the patient’s risk of hospitalisation, acute decompensation or aggravation, functional decline, or even death.
  3. Needs a care plan that is particular to the disease to be developed, monitored, or revised.
  4. Requires frequent modifications to drug schedules, and/or the condition’s care is extremely difficult because of other conditions.
  5. Demands constant contact and care coordination amongst pertinent healthcare providers.
  6. Requires PCM services for at least 30 minutes each calendar month.

 

Benefits of PCM

Similar to CCM, Principal Care Management (PCM), also offers benefits to both, the patient and the provider.

  1. Stabilization of Chronic Condition: One of the main objectives of PCM is to stabilise a patient’s chronic condition as soon as feasible so that the patient’s primary care physician can take over overall responsibility for their treatment. The patient would pay far less for healthcare as a result.
  2. Preventing Secondary Chronic Condition – The benefit of treating a chronic ailment as soon as it manifests is that it significantly lowers the likelihood of a new, secondary chronic condition developing. The care and attention that patients receive from their healthcare professional is one overarching benefit of all of CMS’s initiatives.
  3. Opportunities for Reimbursement – CMS enables providers to get PCM reimbursements, providing your practise with an extra source of income.

 

How Can Physicians Provide PCM Effectively?

 Patient Selection – PCM is not necessary for all individuals with complex chronic conditions. Be sure to note that the patient’s condition is so severe that hospitalisation is either imminent or that the patient has already received multiple hospitalisations as a result of the disease.

Patient Consent – Document the patient’s consent, and make sure to note that you’ve informed them that their coinsurance is in effect.

Bill Correctly – Report CPT codes 99424 and 99425 if a physician or non-physician performs the PCM, and record CPT codes 99426 and 99427 if a clinical staff member or other certified professional supervises the service directly.

Outsource PCM Services – Identify the PCM service types you are presently offering, but not charging. Do you have the ability to charge for those services in order to maybe defray the expense of recruiting a new employee who may also be qualified to offer CCM and TCM services? Outsourcing your services to a third party is also a beneficial option. You can opt for an offshore medical billing agency to assist you with your PCM services that can assist generate more revenue with minimal errors.

Maximize Collections and Improve Patient Care with Info Hub Services

CMS enables providers to increase revenue streams and enhance patient outcomes through PCM. You may manage your patients more effectively by using our PCM solution, which has many of the same features and resources as our CCM solution. In order to increase your revenue and guarantee patient happiness, Info Hub, an offshore medical billing company, offers its expertise with patient care enrolment and consent forms, plan assessments, and monthly PCM time tracking.

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Diversify your Workflow by Hiring an Offshore Medical Billing Company https://infohubservices.com/diversify-your-workflow-by-hiring-an-offshore-medical-billing-company/ Mon, 26 Dec 2022 13:26:46 +0000 https://infohubservices.com/?p=47604 Medical billing is a highly technical job. It takes a lot of effort and concentration along with being abreast with the latest updates in rules and regulations. A simple error can have a direct impact on a medical facility’s revenue cycle. This can make the medical industry, a highly stressful one, even more, tedious and tolling. That is why many choose to outsource medical billing services to specialized medical billing companies or medical billing agencies.

 

Lesser Turnover of Employees

The healthcare industry is facing a growing employee turnover. This has become concerning for HR workers as they struggle to retain employees and keep job satisfaction high. This is also due to the fact that the medical industry is a highly stressful one. But the stress is significantly reduced when you diversify and outsource medical billing services to a medical billing company. Not only that, your revenue will see an upwards trend. This is reflected in employee benefits and helps the medical facility retain its much-needed talent.

 

Reduced Errors and Stress

Medical billing procedure demands every detail to undergo a thorough inspection in order to ensure that all details are put down correctly and there is no missing information. Failing to which, can lead to claim delays and denials. Fixing the damage can be even more stressful, leading to more errors and the vicious cycle continues. When you hire an offshore medical billing company, you now have the experts by your side. The staff is well aware of the latest updates and are experienced in the field. Thus, there are fewer errors, saving your time and money.

 

Lesser Operational Costs

When a medical facility decides to hire an in-house medical billing team, there is a lot that goes on in that process. The HR needs to recruit the staff, and interview them and a separate team is needed to train them. Despite all this, the results are not guaranteed. And while all this is done, the facility invests and lot of time and resources. When you resort to a medical billing company, which already houses a team of experts who are also experienced in the field, you get immediate results with absolutely no costs for hiring and training. This can be great for the financial health of the medical facility and allows the resources to be reallocated to more pressing causes.

 

Diverse Workflow

A medical billing agency will provide you with a diverse workflow where you can now delegate responsibilities better. This means now you have another team of experts handling the tasks that are stressful and need more attention to detail. Keep in mind that the medical industry requires more time and effort than any other one as it deals directly with people’s well-being. Creating a diverse workflow will help take the pressure off the permanent staff’s shoulders. Also, since there is more than one channel to your workflow now, you can expect better productivity and improvement in your revenue margins.

Medical billing is a challenging sector, and being part of the healthcare sector makes it even more stressful. This means you need a team of experts who with their experience will enable seamless navigation. Owing to this, a lot of medical practices now prefer to outsource medical billing services to a medical billing agency. We at Info Hub Services, an offshore medical billing company, are equipped with a capable team of experienced professionals. We provide one of the best medical billing services across specialties so that you can focus on what you do best – patient care, and leave the administrative tasks to us.

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5 Tips on how to hire a Reliable Offshore Medical Billing Company https://infohubservices.com/blog/5-tips-on-how-to-hire-a-reliable-offshore-medical-billing-company/ Mon, 12 Dec 2022 09:53:05 +0000 https://infohubservices.com/?p=47577 It is a known fact that medical industry is one of the most stressful and overworked one. It demands constant care and an uncompromised attention to billing detail. A single error can turn out to be fatal for either the patient or the entire medical facility. In such cases, the support staff too has to go through tedious tasks without making any mistake to support the medical facility. Medical billing is one such process; with its demanding work type, it puts additional strain on an already overworked industry. In such cases outsourcing the work to an offshore medical billing company or medical billing agency is advisable.

When medical facilities conclude to outsource their medical billing process, how do they know it is a reliable one? Well, if you are having the same question, this article is just for you.

 

1.       History and Reputation

While outsourcing their medical billing process to a third party, one must ensure it is in safe hands. A quick background check on the company’s track record can help a great deal with it. Look out any reviews posted by the clients, if the company has dealt with any controversies in the past and so on. Check for the company’s capabilities on delivering quality work and also what performance guarantee they provide. Doing this will give you a fair idea about the company’s overall profile.

 

2.       HIPAA Compliance

HIPAA stands for Health Insurance Portability and Accountability Act. This act ensures that the patient’s records and other vital documents are kept in a safe manner. It is advisable to make sure that the company you decide to outsource medical billing process to is HIPAA compliant so that your patient’s sensitive information remains secured and confidential.

 

3.       Scope of Services

Medical billing companies or medical billing agencies will provide you with many packages that they offer. It is very important to go through such offers in order to understand what are the exact services they offer and if it fits your budget. Check if all the criteria is catered to and a though discussion is being done with regards to compensation.

 

4.       Support for Denial Management

Let’s face it, handling denial management is a task but at the same time it is vital for the revenue cycle that keeps the finances of any medical facility afloat. In order to assist you with easy handling of denied claims the offshore medical billing companies must be equipped with capable denial management team. A strong denial management team will support you with seamless handling of denied claims. Also, it is advisable to keep clear communication with the medical billing agency you are outsourcing the process to, to ensure what kind of support your team will be getting while handling the entire project.

 

5.       Keep Your Budget In Mind

While medical billing is tedious task and outsourcing it seems like a suitable decision financially and also saves time, striking the right deal is important. Those who provide cheapest service might not be the best option for you, neither might be those who offer most expensive one. What matters here is the quality of service provided and the support to the team. Keep your communication open to the team and at the same time carry out background research about their customer satisfaction reviews in order to ensure the quality of service provided.

Medical billing is a difficult yet vital task which must be carried out without any possible errors. We at Info Hub Services are equipped with a capable team of experienced professionals in billing and coding for every specialty. 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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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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