In this day and age, the medical industry is fast becoming the most expensive industry in the world. With the increasing growth of this industry, more and more doctors are looking for affordable options to manage their medical bills. In addition, HIPAA (Health Insurance Portability and Accountability Act) is also hit hard by their compliance laws that they expect physicians and healthcare organizations to adhere to.
The health insurance industry has been trying to make physician services and billing affordable. Many steps are taken to ensure that physician claims can be submitted quickly, seamlessly and instantly.
As more and more needs have arisen with the growth of the industry, many billing companies have also sought to provide complete and affordable solutions when it comes to physician billing services. Most companies that provide services have fully equipped teams that manage all aspects of claim submission. Companies provide medical billing specialists, coders, auditors, accountants and other experts. In addition, the services provided by these companies also include transcription services, authorizations, expense entry and audit, claims dispatch, payment booking, patient statements and wellness checks, denial resolution, and so on.
There are many organizations working to make HIPAA compliant affordable medical billing services for physicians. Many organizations also outsource the entire process to companies in India and other countries. Outsourcing medical billing services offers multiple benefits to the provider –
• Physicians can concentrate on the core work of patient care.
• Medical billing companies in India offer very high quality labor at very low prices compared to the US.
In addition to core billing services, these companies also focus on reducing claims rejections, streamlining workflows to ensure that the amount of time spent on processes is minimized, and ensuring that the amount of effort (material and intangible) spent on the process is minimised. of billing is minimized.
HIPAA has reinvented itself many times to ensure that while meeting compliance needs, the billing process is seamless and saves time and energy. The benefits that result from HIPAA are as follows:
• Abolition of paperwork
• High data privacy and security
• Web-based medical billing software with EMR solutions
• Efficient storage, recovery and periodic backup of data
• Antivirus and firewall software protection on every computer
• Superior quality assurance
• Highly consistent solutions with minimal turnaround time
• 24×7 customer service and technical support services
In addition, the HIPAA provides clear guidelines for the following physician billing services:
• Insurance verification
• Medical coding
• Patient Demographic Input
• Enter costs
• Insurance authorization
• Cash booking and reconciliation
• Debtor follow-up
• Collection agency reporting
Overall, with HIPAA’s strict patient privacy policies and service guidelines, it is beneficial and beneficial for physicians to outsource their billing to dedicated physician billing companies.
If you need more information on how to take advantage of affordable medical billing services, please email Stephen@a1bs.com.