Things to do for being the best medical billing company in 2019

With healthcare services providers concentrating more on providing their patients with the best medical care, they want to reduce some weight from the back. One such weight they wanted to reduce medical billing, which is essential as well as requires a high level of expertise and time. Offshore medical billing services companies are blessed with trained resources that are dedicated to the cause of medical billing and coding. By Outsourcing the medical billing process to a third-party vendor, healthcare services are not only able to offer better service to their patients but also able to save a lot of money and have a better quality of service.

Pros and Cons of Medical Billing Outsourcing

There is nothing in the world that can be deemed perfect. Everything has its share of positives and negatives, and Offshore medical billing services are no exception to it. Let us look at the pros and cons of Medical Billing.

PROS:

Reduction in billing errors: Billing errors have remained to be one of the main areas based on which the insurance companies deny the claim. When you have professionals in medical billing doing the job for you, there will be a high level of accuracy. Therefore there will be a reduction in billing errors, which will lower the claim denial rate by the insurance companies.

Economical: When you do the medical billing in-house, you need to splurge your money on various aspects like technology, staff, and their training. However, an Offshore medical billing company will have them all sorted out for you. They will have their team of experts who are trained and know the medical billing process in depth.

Guaranteed billing compliance: change is the only thing that remains constant, and it holds true to the medical and insurance industries. With continuous changes in regulations, it must be difficult for you to keep your medical billing process always in accordance with the recent developments. But, Professional medical billing companies will ensure that they stay up-to-date, and the bills comply with the latest developments.

Improved patients satisfaction: As you have outsourced the tedious billing process has to the third-party vendor, you can have some respite. You can use this time and resources to provide your patients with better healthcare service. Also, as there will be a reduction in denial rates due to the high level of accuracy from the offshore medical billing team, the patients won’t need to worry about their claims being turned down by the insurance company.

CONS:

Lack of Flexibility: When you have a high volume of patients flocking your door, you may need extra resources to handle all their medical billing process. As the employees of your vendor won’t be under your direct payroll, you can’t have them do overtime work to help you with the increase in volume.

Concern over Security: Medical billing is a process is a job that requires a lot of data such as personal, financial, and medical. Giving access to such confidential data to a third-party vendor will have them saved in their database. A breach in their database will put all the Patients’ under risk at the hands of un-social elements.

However, don’t let the cons of Outsource medical billing services deceive you. The advantages of it outweigh the drawbacks by a mile. Also, the disadvantages can be mitigated if you go for a company that prioritizes data security and be flexible enough to accommodate your demands.
Bristol Healthcare Services is a Medical billing services company that has over 20 years of experience in the arena. They follow the guidelines laid out by HIPAA regarding Protected health insurance to ensure the safety of the patients’ data. Also, you can reach out to them anytime with any demand, and they will always be at their toes to get them done for you. You can know more about them here.

Revenue Cycle Management- Not as smooth as you think!

As a healthcare service provider, you might not like to deal with the combined difficulties of handling the medical, financial, and managerial aspects of your business. RCM can aid you by handling the financial and administrative issues of your healthcare business and let you focus on providing your patients with a better medical service.

Having a process that can let you reduce the hassles in the billing process of your healthcare business may sound like a great deal in hindsight. Yes, it is a great deal, but it also comes with its share of obstacles. As you scroll down, you could see the barriers that stand in your way of implementing the perfect Revenue Cycle Management System.

Absence of a Financial Policy:

It is not always possible for you to keep the financial policy documentation in place. These documents are very vital in Revenue Cycle Management as it holds valuable information and data that could determine the financial capabilities of a patient.

2. Challenges in Healthcare Information Technology:

The whole process runs with on the infrastructure of Information Technology, so it essential for healthcare professionals to be well versed in the technology. We can’t always assure that the technology used will be seamless.

3. Lack of Trained Staffs:

This obstacle is linked directly to the point mentioned above. The staff who handle the RCM process must be adequately trained to handle the technology. Also, the training cost, along with the staff’s salary, can bite your wallet.

4. Lapses in monitoring the entire claim process:

Claim submission is a very critical step in the process and needs constant monitoring. Errors in tracking the claim process can make a massive impact on your business.

However, there is a way to eliminate all the challenges mentioned above. It is by outsourcing the whole RCM process to revenue cycle management companies who will have experts and dedicated professionals handling the affairs. They will ensure that all parties involved, such as the patient, insurance provider, and the healthcare facilitator, are mutually benefited.
Bristol Healthcare Services is a Medical Billing Services who has carved out a name for themselves in Revenue Cycle Management. With their inept expertise in the arena, they can provide you with the ideal service and solution. You can get in touch with them to learn more about their services Click Here

What Is a medical receivables billing?

Whenever a patient, who is covered by some kind of health/medical insurance cover, goes to a doctor, hospital, nursing home or any other health care provider, his bills are forwarded to the insurance company for payment. Usually Insurers try to find ways by which they can minimize or not pay the claims. The Accounts receivables medical billing services provider will be the responsible for processing these transactions and they have the expertise to ensure that bills which are submitted to the insurer conform to their requirements so that the health care provider gets paid quickly.

How do these services operate?

The health care provider is specialized in imparting health and medical expertise, but does not have the expertise to deal with insurance companies. The high operating costs of health care services, difficulty in getting insurance claims reimbursed, as well as recovering due payments from patients and other sources makes it imperative in the present scenario to hire professional medical billing services. Such companies use advanced billing hardware and software and comprise of accountants, and professionals with expertise in the area of billing, medical coding and other coding techniques. This ensures that bills and claims are submitted in the required formats and on time, thereby reducing the chances of denials and rejections.

What are the advantages of hiring medical receivables billing?

Reduces the need for more office space by the health care provider.
Eliminates the need for hiring and training additional staff for such purposes, thereby
decreasing costs.
There is to need to invest in IT hardware and software, used for medical billing.
Reduces administrative and operations costs
Improves Accounts Receivable Management Process
Faster and timely billing reduces aged receivables
Minimizes claim denials

How to choose a Medical Billing Services Provider for outsourcing

Check whether the company and its staff have the necessary certifications.
Check their experience in this field.
Take feedback from their existing clients about the quality of their services.
Check on the number and type of clients they work for.
Find out if the company is equipped with the latest technology. Will the medical billing

software used by them be flexible enough to support future changes if required for instance more clients, changes in processes etc.?

What is their process accuracy %? Errors in the process cause delay or denial of payment.
Find out how effective they have been in increasing the revenue of their clients.
How effective is the company in reducing delayed payments?
The most important aspect will be to find out how good they are in tackling claim denial by insurance companies.
Check how they charge clients.
Choose a billing service that has experience relevant to your area of specialty.
Ensure that the billing service company will protect patient privacy at par with the health care provider.

These are some of the aspects that need to be looked into before choosing a medical receivables billing Company that will be the best fit for your requirements. The right company will be able to decrease time spent on billing and pursuing receivables and ensuring more time on patient care.

Best Medical Billing | Best Offshore Billing

Bristol Healthcare delivers medical billing services with high accuracy within 12 hours turnaround time. Our Medical Billing team has great expertise in billing for multi-specialties and electronic medical record (EMR). Our timely billing process has resulted in a substantial increase in our client’s revenues as we send them the electronic claims in on time. Though we are a third party, our quality of service will make you feel and treat us as an extended arm of your organization. We regularly and systematically undertake the account receivable follow-ups and thereby contribute to the early collection of unsettled bills. And you have to believe that we offer all these services at a very reasonable cost. For us, improving your revenue optimization and thereby increasing your level of satisfaction towards us is of paramount importance.

It is worthy to add that we constantly upgrade our Medical Billing experts by educating them on the latest trends in the industry. Our associations with major medical billing associations help us in this regard. Through our Bristol Byte software, we remain in complete cohesion with our clients. We have a systematic transition methodology that ensures the smooth transition of the billing process from you to us. Our adaptability is so quick that there won’t be any significant changes in your cash flow during the transition period. Our way of communication is so effective and efficient that though we work from far, you will feel we are seated right beside you. We work across multiple locations and thus serve you best 24/7/365. We touch base with you and your employees regularly as we always take pride in being your partner in the success journey.

We work from high tech facilities equipped will requisites that ensure a smooth delivery. We pool the best industrial practices of the Onshore and Offshore medical billing models and offer the combined benefits of both the models. This enables us to help you in getting the maximum reimbursement claim. Additionally, we strictly maintain the procedure of submitting all the claims inside the 12–48 hours of receiving your superbills. Likewise, we follow a special follow-up approach depending on the payment timelines of the claim settlement companies. We routinely review the Explanation of Benefits (EOB) and its electronic version Electronic Remittance Advice (ERA) and any discrepancies arising are worked on immediately. It is the 25 years of our accumulated industrial expertise and experience that enables us to introduce and bring together all the positives of the Medical Billing industry under one roof and successfully implement them across our processes.

Authorization Issues — “We offer pre-authorization services that help you in getting authorization well in advance for the services you have planned to provide very soon”

Assigning the right codes — “Our certified medical coding experts allot the accurate CPT (Current Procedural Terminology) and ICD (International Classification of Disease) codes that are in-line with the services provided to the patients. Our coders also emboss the relevant codes to the claim document before placing it before the payers.”

Eligibility issues — We also authenticate if a patient is eligible to claim insurance benefits and settlements. This also facilitates you to collect co-pays when a patient comes for consultation.

List of our services

We take pride in providing the following services to our esteemed clients

· Credentialing

· Medical Coding

· Electronic Claims Submission

· Follow-up of Accounts Receivable

· Revenue Cycle Management

· Verification of Eligibility and Benefits

· Pre-Authorizations

· Demos and Charges Entries

· Payment Posting

· Denials Management

· Patient Billing

· Cleaning-up the Old AR

Not to mention, we follow the procedures and guidelines laid down by the HIPAA and HITECH Act. We are eager to discuss more on how we could partner.

Top Medical Coding Service |Bristol Healthcare

Over the years, Bristol Healthcare Services has carved a niche in offering excellent Medical Coding Services to a variety of healthcare providers. We offer high quality medical coding services through our certified medical coders. In other words, we work as an extended arm of you. We assign specialized medical coders for your healthcare services depending on your demands and expectations. Our coding resources are well equipped to handle any type of medical coding requirements and are well versed in the popular electronic medical records.

The medical coding services we deliver is a combination of the below three attributes

· Quality

· Timely completion

· Organized

We make it a point to deliver the medical coded reports within 12–24 hours after they pass through our well-established process of coding, reviewing and auditing.

We are armed with medical coders having approved certifications from AAPC or AIHMA. We have knowledge sharing tie-ups with several medical coding institutions and as a result, we regularly enhance the medical coding knowledge of our coders. Likewise, we have a dedicated, coding manager who looks after each of our clients.

Thus, there is seamless and coordinated delivery across our work locations.

Additionally, we also have the Bristol Byte software in place. It aids in effective workflow management. With it, we efficiently manage the daily production status, file status, quality, completion time and the ticketing system.

Also, Bristol Healthcare Services is operating from several locations across geographies helping us in providing 24/7/365 service. Additionally, our offices are located in well-equipped office buildings with hi-tech facilities supporting to deliver your project successfully. Our traits — Reliability and efficiency make us the best partner in the medical coding outsourcing business. We render both onshore and offshore medical coding services depending upon our client’s needs. Not to mention, the sensitive data is always maintained and retained in the US servers abiding by the HIPAA and HITECH laws. Likewise, we always attach top priority to the client’s satisfaction and it is this trait that sets us apart from the other players in the market. Below is an incomplete list of the electronic medical coding software that we can deal with

· eClinicalWorks

· NextGen

· Kareo

· Collaborate MD

· Practice Fusion

· Healthpac

· Radpayor

· Aprima

· Intergy

· CureMD

· Greenway

· Centricity

· eMDs

· Nextgen

· Dr. Chrono

· Traknet

· Advanced MD

· EPIC

· Brightree

· Practicemate

· Chartperfect

· Practicesuite

· MD-Suite & more

Our Services

Following is a list of the Medical Coding services, we offer.

· Hierarchical condition category (HCC) coding

· Coding Auditing and Consulting

· Clinical Documentation Improvements

· Hospital and Inpatient Coding

· Pro-Fee and Risk Adjustment

· Diagnostic and Interventional Radiology Coding

· Surgery Coding

· Specialty focused Coding

· E&M Coding

· Facility Coding

· ASC coding and many more

It wouldn’t be an exaggeration to say that we can take care of all your Medical coding needs in and out. We take cognizance of the swift medical code processing and ensure that we will see that the reimbursement takes place without delay. Moreover, we have tools like six sigma and lean in-place to ensure the quality of the output.

“Try us once and then, you won’t leave us”

“Bristol Healthcare Services — the one-stop solution for all your Medical coding needs”

“Bristol Healthcare Services — delivering high-end and quality Medical coding services”

We offer Medical coding services at affordable costs and you also get to enjoy discounts depending on your project size and volume.

To know more on us, please visit

Bristol Healthcare Services or call: 800–253–7320 or email us at info@Bristolhs.com straight to us, to get done all your Onshore and offshore medical coding projects