Technology is considered to be the driving force behind improvements in the health care system. Health informatics agree that research and treatments allow medical providers to use new tools and find innovative ways to practice medicine in the future. One of the tangible ways technology has changed healthcare is that it has increased the accessibility of treatment. Secondly, it has improved care and efficiency making patient care safer and more reliable in most applications. Lastly, the software has improved disease control which allows medical professionals and researchers to track, retrieve and utilize valuable data in the fight to control disease and provide better healthcare outcomes.
As technology is moving at a fast pace, there are also changes in many regulations and mandates of the healthcare system. For example, Medicare terminated the payment allowance for consultation services which was productive from January 2010, still many commercial carriers have continued to shield these services. Now, effective from October 1st, 2017 United HealthCare will reimburse the appropriate E/M procedure code linking with the consultation code. This change will align with CMS policies regarding payment for consultation codes. Even before you are getting used to the new system, the changes in the healthcare system are inevitable.
The Healthcare industry faces a number of problems such as – an increase in operational cost, data management, and lack of proper resources, billing, and data analysis.
Due to the sudden changes, doctors and other healthcare providers are facing stress and confusion. It is most important for them to focus on patient care but at the same time, the responsibilities of the Revenue Cycle become overwhelming. Optimizing your revenue cycle, and partnering with a company like iPatientCare will help you get the most out of your office’s revenue cycle. It will give you various options to overcome the challenges so that your office does not have to suffer any loss.
The areas that can be Outsourced are:
- Revenue Cycle Management
- Medical Coding
- Claims Administration
- Accounts Receivable
- Information Technology
- Medical Transcriptions
Some of the other benefits of outsourcing your Medical Billing System:
- Economies of Scale – Billing services distribute their expenses across the entire client base providing an economy scale. So you pay less for the same.
- Dedicated and Highly Trained Experts – The experts’ goal is to increase the profitability of your practice. Our experts will work closely with office staff to ensure an efficient overall workflow. This way your practice gains access to the large combined knowledge base of billing experts to aid in navigating the ever-increasing industry changes.
- Gain Control – You will be in control of your office as someone else is taking care of all the billing headaches. Transparency and the ability to run any report 24 hours a day give a sense of control that they never had before. Thus, adding iPatientCare’s expert billing team to progress towards mutual goals.
- A Changing Industry – The healthcare landscape is changing at an unprecedented rate and medical billing is not spared. Keeping up with ever-changing rules and requirements is difficult under the best of circumstances. It requires constant education and vigilance which iPatientCare has.
- Consistency – Billing in-house places your practice at higher risk for revenue interruptions. But with the assistance of outsourced medical billing services you have a whole team of professionals at your service. They make sure that all the claims are processed swiftly and accurately.
- Get Paid Faster – iPatientCare guarantees that you are transferring claims electronically to all possible carriers and are set up to acquire ERAs, further diminishing turnaround time. This way you receive highest possible reimbursement in the shortest time.
- Less stress, More cash – iPatientCare will only charge a percentage of the money collected. Our experts will conduct a fee schedule analysis to make sure you are getting reimbursed at the highest possible rate, make sure all claims are submitted correctly, utilize efficient policies and procedures to reduce your cycle time and our experienced staff will review denials for accuracy. We work hard to improve your collection rate.
iPatientCare is always updated with all the industry changes and it proffers the facility of customized medical billing services options such as – account receivable follow-up, denials and appeals management, eligibility verification with payers, referral submission and tracking, electronic remittance, payment posting, demographics, and claims. Your practice can outsource as much or as little as you require. iPatientCare contributes end-to-end Revenue Cycle Management solutions that empower providers to get higher pay and faster through a single partner. This unique approach will help you to manage the business of healthcare in every way. You must focus on providing the best healthcare and save a considerable amount of time and money.
iPatientCare provides two types of services – Customized medical billing options to help grow your business and Revenue Cycle Enhancement.
Customized Solutions Include:
- Account receivable follow-up
- Denials and appeals management
- Eligibility verification with payers
- Referral submission and tracking
- Electronic remittance and payment posting
- Demographics and claims entry/submission/reconciliation
iPatientCare’s Complete RCM Solutions Include:
- An end-to-end integrated technology solution
- Free Meaningful Use Compliant EHR
- Integrated appointment scheduling and eligibility verification modules
- Six levels of edits including custom edits
- 98% first-pass acceptance
- Dedicated single point of contact for the complete solution and services
- Cloud-based solution facilitating – you see what we see
- Extensive reporting and dashboards
- 24/7 availability with disaster recovery
- Experienced billing professionals
- Tremendous time/cost saving and cash flow improvement
These are the few reasons why it’s a good time to outsource to specialists like iPatientCare. Doctors report that they are getting enormous benefits from the drive toward a total system of electronic medical records, patients appreciate the fact that software has created a greater degree of transparency in the healthcare system. We have seen many positive changes in health IT and expect to continue witnessing more exciting developments in the future and iPatientCare will be there to assist you in every way.
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About the Author
Tejhas Vyass, a technocrat and result-oriented with over 11 years of experience in the US Healthcare Industry works with iPatientCare users during their inbreeding, involvement, enrollment, training, configuration, and go-live assistance. He possesses an in-depth and up-to-date knowledge of the US medical insurance and revenue cycle management for small and medium-sized physicians’ offices. An effective communicator with exceptional relationship management skills, iPatientCare users admire him for his knowledge, brilliance, and willingness to help during any and every step of implementation and support.