Beep tech medical billing specialists

As health care facilities strive to achieve greater operational efficiency, the role of medical billing companies is assuming significance. Health providers are increasingly outsourcing their medical billing functions to such companies thereby reducing billing related infrastructure and manpower costs, and improving their revenues.

Medical billing outsourcing has become popular in recent times as health facilities are finding it difficult to efficiently carry out billing processes on their own and suffering losses owing to billing errors. Most common medical billing related problems include manual data entry mistakes, errors in coding, missed charges, delay in claim submissions and rejected claims.

Medical billing specialists or companies can resolve these problems. Through medical billing outsourcing, both practices and hospitals can improve bottom lines by way of faster and more accurate claims submission and processing.

Medical billing services offered by third party billing companies include patient insurance verification, electronic charge capture, claims submission and tracking, payment posting, patient statements, claims denial investigation and follow-up as well as financial reporting. As required by HIPAA regulations, medical billing companies send out electronic claims to payers directly or through an electronic claim clearing house for faster claims processing. The claims are then diligently tracked and payments are posted accurately. In case the insurance plan of the patient doesn’t fully cover the medical costs, the medical bill service would issue a statement to the patient to pay up the difference.

With these functions carried out by medical billing specialists, errors are few and claims can be processed faster. Also, as these companies get claims thoroughly vetted by their experts for errors before submitting them to insurance companies, there are very less chances of delayed payment or claim rejection.

The other reason why more and more providers are using the services of medical billing companies is that they keep tabs on the constantly changing insurance requirements and CPT and ICD-9 codes and file claims accordingly. Also, by outsourcing medical billing functions, providers can now spend more time on patient care and expanding their practice.