The Complexity of Medical Billing Affects Doctors Nationwide
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It’s a vicious cycle and can cause everyone involved, from the patient to the doctor to doctor’s administrative team, wasted time and money. With the recent switch to ICD-10 codes, this process is even more complicated. One thing that can help is to outsource the medical billing process to a professional medical billing company. Doing this can save your practice time, money, and help make the entire process less confusing.
For every patient that comes into a medical practice, there will be a bill sent out to their insurance company so the doctor can be paid for their service. When filling out the insurance forms, one mistake can cause the claim to be returned unpaid. Unpaid claims add to the workload of the administrative duties of the doctor’s office. Already busy trying to keep on top of current claims; the office staff now has to go back to work on the unpaid ones, which is a headache for the doctor, the patient and the office staff.
A recent report has discovered that 64 percent of doctors feel like they have way too many mundane, day-to-day tasks that they deal with in their practice and most doctors don’t think their practices collect payments effectively. Medical billing is at the heart of the practice, it’s how the patients get the care they need without having to pay out of pocket costs, it’s how the doctor and their staff get paid, and when it takes a lot of time it is very frustrating and stressful for everyone involved. Outsourcing your medical billing will save the practice a lot of time, not only for the doctor, but also for the staff who can then focus their time more on the patients.
Time is money and spending more time on medical billing in your practice will mean spending more money on that, when you could be spending your precious dollars on other parts of your practice instead. Another issue that often comes up is that the claims aren’t correctly filed, but still paid, resulting in an underpayment, which also costs the office money. Getting your claims filed correctly the first time and getting the full payment makes everything a lot easier in the long run. Having a professional medical billing company file and take care of your claims actually will result in lower costs in the long run.
With the recent switch to the ICD-10 codes, doctor’s offices are faced with having to train their staff to use the new codes when filling out and filing medical claims. The new codes will result in new mistakes and will cause the healthcare reimbursement process to be even more complicated, resulting in more billing errors. One way to save yourself the headache of this new system is to outsource your billing operations. This can save you the headache of learning the new codes, training your office on how to use them, and dealing with the eventual mistakes and unpaid claims that will follow.
Medical billing is a confusing and frustrating process that doctors and their office staff deal with on a daily basis. To save time, money, and training staff on the new ICD-10 codes, look to a professional medical billing company to take this difficult process off your hands.
We focus on implementing billing solutions for small to mid-size physician practices. We offer cloud based PM/EHR systems and expert billing staff. Give us a call at (423) 822-5655 or fill out our request for information form to have a representative contact you.