22 May Patient Health and Medical Billing and Coding: Is there a Relationship?
As a healthcare professional are you able to provide your patients with the care they need and deserve or are you distracted by issues related to the fiscal health of your practice? Many healthcare providers find that medical billing challenges distract them from what they do best, which is help those who require medical services. The financial well-being of your medical practice is related to how effectively and efficiently you can deliver much needed medical services.
The Medical Claims System
The medical claims system in its basic form is simple, and, yet, in its everyday manifestation it is highly complex. It’s simple in that the procedure for receiving payment from insurers involves a few general steps. Those being:
• Provide medical services
• Document services provided
• Submit medical claims to insurers
• Receive payment
However, this basic outline is deceiving, because within it there are hundreds and even thousands of small steps associated with every medical insurance claim and one misstep can result in a payer rejecting a claim, delays in processing, and late payments. When these things occur, your medical practice can start to feel financial stress and strain, and you’re called upon to address these problems rather than giving your patients your full focus.
What Can Happen
If your medical billing and coding is carried out in-house by your staff, you may find that they don’t possess the time, personnel, or experience necessary to deal with insurance providers and government agencies. You may be trying to handle some of the problems yourself, addressing rejected claims, attempting to analyze billing and coding mistakes, and trying to fix what is an inefficient in-house medical claims system.
If you and your staff are distracted from providing for the well-being of patients due to the need to deal with medical billing and coding problems, you’ll eventually find your energies divided in a manner that compromises both your ability to offer premium medical services and to ensure the fiscal health of your enterprise. In such a situation, nobody wins.
Streamlining Your Medical Practice
Moving your medical billing and coding system from being an in-house service to an off-site professional provider enables you to make your medical practice more efficient and allows you to deliver healthcare services more effectively, while enjoying the benefits of working with billing professionals who can handle any and all aspects of this part of your enterprise. In other words, you and your staff will be able to focus on what you do best, deliver healthcare services and provide for the well-being of your patients.
In addition, when you’re able to focus on this aspect of your practice, leaving the billing to another entity, you stand to have more time to take advantage of new opportunities in your field, offering new services, expanding your patient base, and creating useful connections with other healthcare professionals. Simply put, you’ll have more time to do what you do best.
Monitor Billing and Claims
It’s important to take some time to investigate how medical billing and coding professionals can help you ensure that medical claims are processed quickly and properly, thus enabling your practice to have sound fiscal footing and allowing you to focus your energy on your patients.
For more information on medical insurance billing and coding, contact Medical Practice Management Resources, Inc. We will be glad to discuss your needs, answer your questions, and provide insights into our services. We offer the nation’s best medical billing and revenue management services for both physicians and ambulatory surgery centers. Call today!