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Gain Maximum Benefits by Outsourcing to a Medical Coding and Billing Company

By Outsource Strategies International Subscribe to RSS | May 10th 2012 | Views:

Healthcare institutions can gain maximum benefits by outsourcing to a medical coding and billing company. These benefits are in terms of increased efficiency, streamlining and greater resources saved.

Outsourcing Medical Billing and Medical Coding Services

A medical coding and billing company comprehensively takes over these responsibilities of healthcare providers and institutions. It helps the latter reduce their workload and save costs and resources. Reduced workload ensures greater efficiency on account of streamlined operation.

Medical billing and coding are some of the most extensive responsibilities that demand significant expertise. It is estimated that around one-fourth of all income from medical practices is lost to issues such as under coding, under pricing, missed charges and claims that are not reimbursed. All these arise due to faulty billing and coding. Outsourcing ensures greater efficiency in the medical billing and coding process.

Medical Billing and Coding Services Available

A reliable and experienced medical coding and billing company comprehensively takes care of all aspects of billing. Its medical billing services generally include:

•Patient Scheduling and Reminders

•Patient Enrollment

•Insurance Enrollment

•Insurance Verification

•Insurance Authorizations

•Coding and Audits

•Payment Posting

•EOB Analysis and Denial Management

•AR Management

•Financial Management Reporting

Medical coding services usually consist of:

•Hospital / in-patient coding

•Emergency room e-code evaluation

•Medical coding audits

•Backlog coding resolution services

•DRG/ICD-9-CM coding validations

•CPT medical coding

•ASCs – Ambulatory Surgical Centers Coding

•ICD-9 coding based on AMA and CMS guidelines

Advantages of a Medical Coding and Billing Company

A medical coding and billing company has trained and experienced coding and billing specialists with knowledge of procedural and diagnostic coding, Medicaid and Medicare rules, HIPAA, accounts payable management and electronic claim submission. The company would also have advanced software and hardware resources to ensure efficient and quick coding.

One of the greatest advantages of medical billing companies is their flexibility to adjust their services to the unique requirements of their clients. This is reflected in the turnaround times, the overall functioning of the company, its relationship with the client and the charges. This ensures the medical billing services are affordable for the healthcare facility and actually help it save costs.

More Advantages

The flexibility is felt in the company’s use of the medical billing software which could either be the client’s existing billing software or the billing company’s own software. Some of the other advantages of outsourcing medical billing are:

•Really quick turnaround times

•100% HIPAA compliance

Clients are given monthly and weekly reports detailing topics such as procedure code analysis, projections, and productivity. The medical billing company conducts regular quality analysis checks in AR management, coding and ensures clean claims. The accounts are analyzed by coders certified by the AAPC as well as other experienced professionals.

As a healthcare provider you stand to gain maximum benefits by outsourcing to a medical coding and billing company.

Outsource Strategies International - About Author:
OSI is a medical billing service provider,standing abreast with the best medical billing companies in the US.OSI also offers quality physician billing services to prevent heavy financial losses in medical practices

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