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Showing posts from December, 2023

Key factors to consider while choosing a medical billing services company

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  Choosing a medical billing services company can be a game changer for a healthcare brand in terms of how they handle charges and claims and how quickly they can move from charges to reimbursements. However, there are so many third-party service providers in the market. How does one make the right choice? Here are some of the key factors to consider when it comes to picking a billing service provider for your needs. Experience One of the first things to consider while hiring a medical billing services company is their experience. The number of years they have been in service will tell you their ability to sustain in an extremely competitive field and make things work. Quality of workforce Just like how you see the number of years of existence of a medical billing services company also check the average work experience of their staff. If the average number of work experience of their staff is 2 years, it means they have a lot of new hires. However, if the average work experie
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What is the scope of a medical coding company in India?

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  Medical billing has become one of the integral parts of backend healthcare processes. One of the lesser-known but equally important backend tasks in the healthcare industry is medical coding. A medical coding company in India  can decide the final revenues generated by the practice by creating perfect and precise codes. Such medical coding companies often act as offshoring or nearshoring brands, working for clients in different parts of the world.    Medical coding as a practice Medical coding is a compulsory practice that needs to be followed in healthcare practices that accept insurance payments. In the United States, more than 90% of patients are covered by medical insurance.    A medical coding company in India  must first be aware of the different types of insurance providers in the United States and their terms and conditions if they want to work with clients in this country.   These insurance providers require bills to be sent to them as groups of codes that their software can
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The benefits of working with a patient-focused revenue cycle management company

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   Revenue cycle management (RCM) remains one of the biggest struggles of healthcare practices. RCM is the process of handling revenues and includes managing, maintaining, and increasing the revenue stream for the business. A revenue cycle management company  works on addressing the revenue challenges of healthcare practices and builds practices that streamline and maximize revenue generation.   There are several such RCM third-party service providers in the market. How does one choose the right brand to be associated with? Patient-focused revenue cycle management   could be the answer.   A patient-focused revenue cycle management company  does everything a traditional RCM company does. However, these RCM companies always set their end goals toward patient experience and patient satisfaction.    This could mean the difference between a mediocre and an exceptionally great healthcare practice.    The challenge with current RCM processes The main challenge with current RCM processes is ex
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How important is denial recovery services for a healthcare practice?

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  Denial management service is something that’s becoming a norm with more healthcare practices. You either have an in-house denial management team or hire an expert from outside. Denial recovery services , which is the same yet different than denial management services, is a new concept that’s gaining popularity in the healthcare RCM industry.   What is denial recovery service, and how is it different from denial management?   Denial management is the comprehensive process of identifying the root causes of denials, taking organization-wide strategies to address these problems, and trying ways to reduce the rate of denials.   Denials recovery service  is a part of denials management and is laser-focused on saving denied claims. As the name specifies, this is aimed at recovering claims that would otherwise have to be written off.   Some denials are hard denials, which means there is nothing you can do about them. Soft denials, however, have room for recovery, and denials recovery experts
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