Medical Billing Service Speeds Up Reimbursements for Providers
Welcome to P3 Healthcare Solutions, fundamentally, a medical billing company. We provide Medical billing services apart from other services such as credentialing, HIPAA security risk and analysis, and MIPS consulting services. As we move past 2020, the process of billing gets sophisticated and tech-savvy with new updates coming at frequent intervals.
The presence of electronic health records will soon replace the old manually maintained records because it is becoming difficult for medical practitioners to be able to get a grip on procedural necessities leading to obstacles in the collection.
Previously, PHI documents were manual and transferred through the traditional mail, but since the advent of the internet, the exchange of documents happens through email. However, the latter has its own set of complexities with hard-to-understand software functionalities. All of this technology is there to facilitate rather than complicate workflow.
Core Objective: Medical Billing Service Company
Our primary focus is on medical billing, but our goal is to support the healthcare industry by leveraging technology in their best interest. The physicians and specialty-specific doctors are lifelines of patients across the US. As a result, we consider it our duty to come up with ground-breaking health IT techniques.
We always work hard on delivering for the providers and adding to their revenue. Generally, the high claims acceptance percentage first time relieves both the providers and the payers. In fact, it is our priority to get the job done before it gets complicated and is accomplished through experience, dedication, skills, and staying on our toes.
Deft Handling of Billing Issues
P3Care’s consultants undergo extensive training and thorough seasoning along the way. The availability of skilled personnel gives us an upper hand in understanding medical operations and procedures in comparison with our competitors. Moreover, the staff keeps a close eye on any changes in rules with implications directly for the US healthcare industry.
For instance, we see frequent ICD-10 updates. As a medical biller, if you fall behind, denials on account of incorrect coding are inevitable. Therefore, consistency and readiness are key to overcoming claim rejections.
Billing Rates for Consultants
The rates of medical billing outsourcing are always lower than in-house billing and coding. An organization is worth all the praise if it is willing to solve any situation promptly and cost-effectively. Generally, the medical billing service fee of P3Care is quite reasonable and physician-friendly.
Let’s take a look at the two qualities of a medical billing company:
- The top-most quality of a medical billing service is to offer full support in reporting a claim according to the latest medical coding guidelines (for instance – ICD-10). A company that fails to keep tabs on current rules eventually fails in getting the claims approved. With P3Care, everything is synched – any rule updates are well-received, understood, and implemented by the medical billing & coding staff.
- Sending incorrect medical bills results in 80% denials. A company knowing its reputation is at stake will keep qualified coding staff with experience or certifications to back their skills. The insurance companies are meticulous. Even a slight error results in immediate denial. Therefore, the correct filing of claims is necessary to speed up reimbursement. On the contrary, if your Accounts Receivable are piling up, you need to revisit your overall billing strategy.
- P3 believes in double-checking claims on every step, ensuring the billing codes are correct as it allows them to sail through the complexities of the RCM process. It isn’t easy, but if you choose us, we will take care of the issues in revenue cycle management while you continue to focus on treating the patients.
- With the necessary addition of EHRs into the medical system under QPP, the practices or providers have to implement and ensure the reporting is based on them. These are patients’ health records in digital form. Your in-house practice management system should be efficient enough to handle EHRs. But if you are having trouble, P3Care would lend a helping hand. We are technically aware and technologically sound to deliver and file medical claims via EHR.
Conformity with HIPAA
P3 Healthcare Solutions are HIPAA compliant. HIPAA (Health Insurance Portability and Accountability Act) regulations ensure the protection of patients’ private health data. The patient’s health information is always kept confidential and only shared with the relevant medical personnel.
The medical billing services by P3Care complies with HIPAA. HIPAA security rule is applied to companies dealing with Protected Health Information (PHI) – PHI is any information about a patient’s health condition; it can be healthcare payment details or other sensitive information utilized by covered entities (healthcare providers, clearinghouses, etc.), to identify a patient.
RCM (Revenue Cycle Management)
Revenue Cycle Management with P3Care includes –
- Writing claims and submitting them to insurance companies after screening them for errors
- To keep in touch with the insurance companies for any pending claims
- Customer service promptly responds to patients’ billing queries
- Take care of Clearinghouse handling and collection of payments
- Reviewing the denials amending those mistakes and refiling the claims
- Going for repeals to minimize accounts receivables
The medical billing services fee schedule for P3Care repeats on a monthly basis. As you know medical billing & coding is not an easy task, but Revenue Codes or Charge Codes for medical billing make the whole process understandable. They explain the treatment and the exact amount due at the payer’s end.
A list of CDM charge codes helps identify the services rendered by the providers. They are a summary of patient care activities along with the respective charges sent out to payers and patients.
Medical Billing Costs
Medical billing cost is not much of a bother because we are working tirelessly for positive outcomes. Our charges are fair and realistic!
Furthermore, medical billing services cost is brought down by speeding up the revenue cycle management and not postponing claims. You will witness the number of accounts receivable decreasing.
Medical biller rates vary from specialty to specialty. Some specialties require more effort and resources to get their claims through.
ICD-10 Capable Coders
P3Care coders have made sure all the current claims are by the latest coding guidelines. Hence, our claims acceptability ratio is higher than most.
Beware of Discounting Vendors
A proposal by the low-cost medical billing vendors may sound intimidating, but not everyone understands the complex, mind-boggling, and draining world of medical billing. However, their lack of experience and skills can hurt your business interest. Whichever company you choose to sign up with, make sure you get the list of tasks that you want to be taken care of.
Simplifying the Process
P3 medical billing consultant services include –
- Verifying the patients with the insurance companies
- Checking if the provider is listed on the payer’s panel
- Keeping the patient records up-to-date
- Processing all claims within a specific time frame
- Keeping a check on each claim until it is approved and collected
- Email and phone correspondence with the payers and patients
- Handling the collection process and managing copayments
- Sending weekly or monthly reports to providers for analytical purposes
- Executing each step according to the rules set by CMS
We are committed to the US healthcare industry to deliver what’s rightfully yours. Moreover, aiming to be one of the top medical billing companies isn’t easy and doesn’t happen overnight. It takes all the energy and skills to deploy favorable results to our customers.
RPA Medical Billing Services
Another way to speed up the compilation of clean medical claims is via RPA billing – An innovation to the regular health IT services to reduce the tedious manual workload. The repetition gets minimum at the hands of medical billers, and they can spend time on accounts receivable and denial management along with follow-up services.
What benefits do you get:
- Reduced time consumption in the claim compilation
- Fewer chances for faulty entry of any required field
- Improved patient experience with enhanced efficiency
These are just a few pointers to give an idea of what Robotic Process Automation means and how it lends advantages to the healthcare industry.
Outsourcing medical billing only relieves the burden on you and your practice. However, a written medical billing services agreement explaining the contractual details between the provider and the biller is required.
There are hundreds of online medical billing companies out there but choosing a reliable and trustworthy partner to handle your finances is a tough decision. P3Care falls on the list of medical billing companies in the USA with credibility and farsightedness to see denial in advance. It takes appropriate steps to make the claims error-free.
We are offering specialty-specific billing services to the specialists along with primary-care physician billing services. The specialties include almost all of them including chiropractic and radiology billing services.
For questions out of this knowledge base, or instructions on how to get started call a MIPS specialist today at 1-844-557-3227 (1-844-55-P3CARE) or email at firstname.lastname@example.org.
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