7 Benefits Of Medical Billing Outsourcing Services

 Did you know that doctors are taught patient billing services in med schools? Believe it or not but performing medical billing and coding is a hard nut to crack. Wondering why? Well, think about it – interacting with the healthcare providers to keep tabs on the patient treatment records and data, reporting the correct clinical data in software, reviewing the diagnostic results and procedures, assigning accurate corresponding medical codes, and processing the data for insurance; a medical biller’s job is quite complex. The times are changing. Unless a medical practice is solvent enough to hire its own patient-billing staff, outsourcing medical billing to professional and specialty services is the right step forward. 

Before explaining the benefits of entrusting medical billing services and outsourcing companies, let’s first find out the problems of trusting not-so-proficient billers. 

What are the risks associated with medical billing and coding? 

Medical billing is truly complicated. Did you know that medical billing and coding errors can cost healthcare organizations great losses in terms of revenues, penalties, fines, higher claim denials, and more? Little do you know that higher denial rates might also impact patient care. Therefore, medical billing providers must stay abreast of incorrect coding or inaccurate billing risks. Once you know the pitfalls, you can certainly avoid billing mistakes. Let’s quickly scroll through some of the common billing and coding errors that could result in higher rates of claim denials. 

 

1. Duplicate billing

Do you know what duplicate billing is? It is when a provider bills for the same procedure, treatments, and tests multiple times. Do you know what’s worse? A fraud investigation against a duplicate biller can accuse the professional of being an abusive biller. 

2. Lack of patient education

The importance of keeping patients aware of their billing and financial obligation cannot be underrated. Moreover, it is one of the biggest challenges that all providers face. When patients understand the components they are billed for, they are likely to pay off the bills on time. 

3. Unbundled codes and upcoding 

It might sound a little technical, but upcoding is when healthcare providers misrepresent and report the highest levels of procedures and treatments performed on patients to charge extra or claim a higher reimbursement value. This is no less than a falsified billing practice that may lead to federal intervention. Meanwhile, unbundling refers to a medical billing fraud wherein healthcare providers offer complex and multiple CPT codes instead of a single code, either due to misunderstanding or in an effort to increase patient bills. 

Are you aware of the consequences of coding errors? Even the slightest coding error can lead to claim denials, and further, affect the revenue cycle management. Also, claim denials are unbelievably frustrating, especially for the providers. Besides, the medical codes are constantly changing with time. A proficient coder must understand and keep track of the codes to ensure that the claims are processed seamlessly since the consequences of incorrect coding are quite severe. 

Hence, outsourcing medical billing services to professional and experienced medical billing consultants or companies like 3Gen Consulting is always a good idea. The companies leverage their expertise and knowledge to maximize revenues. 

What are the advantages of outsourcing medical billing services? 

Healthcare is quite a complex marketplace today. New codes and guidelines are evolving daily, making the medical billing process a lot more complicated and hard to track. A medical billing outsourcing company like 3Gen Consulting streamlines the processes of medical coding and billing, scales the revenues, saves overhead costs, and improves a healthcare practice earning potential by leaps and bounds. Are you eager to learn about the benefits of outsourcing medical billing? Let’s read:

 

1. Avoid mistakes in billing

3Gen Consulting, a medical billing company in USA, is home to professionals with expertise and knowledge about the challenges of medical billing services and tedious claim submission services. Professionals here handle patient information, billing data, and claims with utmost accuracy to ensure a healthy revenue cycle. 

2. Medical billing companies offer an improved patient experience 

Rewarding patients with a pleasant experience is a top priority for healthcare providers. Do you agree? A seamless claim experience ensures quick reimbursements and, eventually, happy patients. Of course, administrative tasks can get very tiring. Professionals showcase a confident and dedicated approach to addressing patient concerns to retain them for a longer time. 

3. Accelerate the flow of revenues 

Medical billing and coding companies work to optimize a consistent revenue cycle and on-time payments. Doesn’t matter if a healthcare organization is short on staff or not, a proficient and eminent medical billing company in USA, takes care of the administrative roles, answers billing-related queries, and serves all patients with care and attention to create greater returns and revenues. 

4. Minimize the expenses and maximize the outturns 

A healthcare provider or organization has ample overhead expenses to manage. Right from investing in office supplies and furniture to new hardware, software, staff salary and benefits, the expenses swell in no time. Relying on a medical billing outsourcing company cuts down the above-mentioned expenses by large and enables organizations to utilize the resources to their maximum abilities. What’s more, the necessary expense cuts and better efficiency contribute to a well-rounded revenue cycle management. 

5. Consistent and reliable services 

Are you aware of the odds of performing accurate medical billing and coding within one’s practices? Even the slightest thing, like a staff change, could throw off the entire revenue cycle. Wondering how? Well, it would delay the submission of claims and increase the chances of human errors when processing the claims. Thus, outsourcing medical billing guarantees accuracy and on-time processing of claims. 

6. Strong security of data 

It is no surprise that information security is pivotal for outsourcing providers. Reputable companies like 3Gen Consulting effectively handle all sensitive information and data about patients and services with maximum confidentiality and maintain HIPAA compliance. Besides, the company offers a stable and hassle-free billing process for patients. 

7. Stay abreast of the changing regulations 

If you are not already aware, the government regulations and insurance rules keep updating with time. Keeping tabs on the reformed changes, although a must, can appear daunting and tedious for healthcare organizations. A medical billing outsourcing company does the job and assures no delays, lags, or unprecedented expenses. 

Why should you choose 3Gen Consulting? 

3Gen Consulting is a leading medical billing outsourcing company in the USA. The company efficiently handles complex and intimidating medical billing and coding practices to scale profitability, enhance patient care, and drive revenues in the healthcare industry.