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medical billing service, revenue cycle management process, medical billing company, medical billing outsourcing, RCM process, HIPAA medical billing

The ERAs and EFTs in Payment Posting for Medical Billing

As a medical billing service, it is our primary duty to look after the revenue cycle management process of physicians on board. We are on a mission to narrate billing obligations in a fashion that is fast and in the direct interest of clinicians. Some of our clients have recorded their detailed feedback on Clutch.co for any of you interested in reading client reviews. https://clutch.co/profile/p3-healthcare-solutions#reviews

The claimed and paid amount has to concur in an ideal state. It is the job of a medical billing company to comply in such matters that involve the speedy transfer of payments. Any hiccups in the billing process directly affect the practice besides tainting the reputation of the third-party billing vendor.

Explanation of Benefits (EOBs) and Electronic Remittance Advice (ERAs) are documents that discuss the amount billed and the payment received. They also contain information about any discrepancies in both the amounts. The third term EFT refers to Electronic Funds Transfer which is the modern way to address the payment process.

Medical Billing Company Supports ERAs in an Age of Automation

Physician practices can save much time and money if their EOBs turn into ERAs that are electronic documents. Think of the time it takes for a medical practice to deal with payment details manually. It involves a lot of fields to be manually addressed, dropping checks at the bank, and reconciling payments.

If payers can create digital documents like ERAs regularly, physicians won’t have to re-enter payments manually. The process of payment posting is crucial, and to make it easier, we’ll have to digitize EOBs right away.

Medical billing outsourcing requires accurate coding of claims in which there are no over coding and under coding errors. If EOBs reimburse amounts lesser than what is claimed in the bill, our company investigates so that the RCM process keeps on running smoothly.

Benefits of ERA

  • Once the system of automation is in place, posting payments doesn’t involve manual intervention at all
  • It enables faster payments because time is saved in the very instance
  • Makes way for improved and classic denial management

Electronic Funds Transfer (EFTs)

HIPAA medical billing says a lot about the medical billing service in line with the law and its provisions. Under HIPAA, EFT via the Automated Clearing House (ACH) is the only standardized way to move funds electronically. Hence, we have to take a note of that in every transaction we make on behalf of the physicians and specialty-specific doctors.

Just like the way employee checks are deposited, ACH EFT makes sure funds smoothly move between insurance companies and physicians.

Benefits of EFT

  • It is a payment mode that directly coordinates with ERAs
  • The staff members don’t have to be occupied, and there is less paper usage
  • The claims payments are deposited in a safe and secure manner
  • Saves time

21st Century After Effects of Electronic Cashflow

The healthcare industry brought into effect a new standard in the form of ANSI 835 for electronic insurance payments and reconciliation a few years ago. Both ERA and EFT are part of this act. Their role for each other is vital. When an ERA carries the details of the payment, EFT is the actual process through which the payment is made to their rightful owners upon adjudication of claims.

ERA merely forms a report by which benefits are explained. Both the technologies devise simplification of the payments to physicians while expediting the process in the spirit of better healthcare outcomes.

Learn more: 5 Medical Billing Tips to Help Orthopedics Earn More

P3care’s Medical Billing Services For Emergency Physicians

P3Care’s medical billing services are precise when it comes to physician-specialists and accurate when we talk about accounts receivable management. Hence, strength on both the fronts make us one of the most recognized medical billing company in Ontario, California.

CMS recognizes P3 Healthcare Solutions as a MIPS Qualified Registry for the 3rd time in 2019. To see the list of qualified registries for 2019, check out the following link – https://b0wms2ojuok4bi2s1zhfjksf-wpengine.netdna-ssl.com/wp-content/uploads/2019-Qualified-Registry-Posting_Final_v1.0.xlsx. When you tap the “P” tab in this excel sheet, P3 Healthcare Solutions appears at the top.

Outsourcing medical billing is a tough decision to make but an important one. There are several factors that influence the decision-making process such as putting your finances at risk, in the hands of a company that is physically unreachable.

A medical billing service expedites the process of filing a claim with the insurance company for timely reimbursements. When you receive the payment in your bank, it completes the revenue cycle for that claim. Revenue cycle management is a highly professional way of providing organized transactional insights. Moreover, the first-time claim acceptance rate matters a lot, and P3Care does perform reasonably well when it comes to first-time acceptance of claims.

What is an ASC? P3Care Stands by Your Side in Critical Times

ASC stands for Ambulatory Surgery Center. P3Care’s philosophy and the visionary statement speaks of the deep relationship it has with the healthcare professionals dealing with emergencies. Emergencies can be traumatic and stressful.

P3Care sympathizes with doctors who are part of the emergency setup. Furthermore, it wants the doctors to feel the support round the clock. Doctors volunteering to treat those in bad shape deserve all the praise and appreciation. Going the distance for healthcare professionals who save lives by treating patients at the right time is one of P3Care’s core principles. We do everything we can to lend a helping hand to providers and Eligible Professionals.

The ASC billing goes on a different pattern as compared to the normal billing. P3Care realizes the demands of insurance companies, therefore, preparing correct claims according to those demands is one of our specialties.

Anti-Traumatic Medical Billing Services

P3 Healthcare Solutions takes pride in handling the billing for surgical practices and ASCs. The trauma or emergency doctors require an anti-traumatic billing solution. That means they are looking for reliable and trustworthy medical billing services. The accuracy of those claims leads the way to their acceptance resulting in smooth cash flow for our clients.  If you sign up for P3Care medical billing services, you will be updated, as part of our workflow, with timely reports, evaluations, and reimbursements. Call us for a quote at 1-844-557-3227.

P3Care delivers for the ASCs and Surgeons

At the ASC, both critical and diagnostic procedures are performed. There may be instant surgeries at hand and lives can be at risk. Whatever the situation may be, your billing partner needs to be proactively involved. There is no chance for errors in ASCs, and similarly, P3Care creates error-free claims to get those reimbursements quickly.

You should meet certain requirements for better ASC billing outcomes. P3Care files the bills using CMS-1500 forms.

Nonetheless, for ASC’s better performance, the patients and the providers must agree to a few terms and conditions. Once those conditions are met, insurance companies reimburse the full amount. There can be deductions on account of missing CPT or medical codes. P3Care makes sure everything is in place.

ASC Procedures

Ambulatory Surgery Centers can have all the specialized workings under one roof. They can be an independent entity or part of a larger hospital.

The procedures or operations performed in an ASC can include:

  • Colonoscopy
  • Surgical Dressings
  • To get a cast.

Final Verdict

P3Care takes the lead in medical billing services for Ambulatory Surgery Centers or surgical claim approvals. Our medical billing & coding staff caters to the department of pain management, orthopedics, gastrointestinal, ENT, urology, and general surgery.

News

medical billing service, MIPS Qualified Registry, CMS news, Trump’s Guidelines, COVID-19, coronavirus , COVID-19 outbreak, MIPS 2020 reporting, QPP MIPS, MIPS 2020 reporting registry, QPP 2020 Reporting

P3 Investigates: Trump Administration Plans to Reopen Nursing Homes

P3, as a medical billing service and a MIPS Qualified Registry, keeps in touch with CMS news as it happens. CMS, yet again, informs the public of the plans, the government has for nursing homes to reopen safely with the pandemic still around. While state and local officials follow it to ensure safe beginnings for nursing homes across the country, they are a part of President Trump’s Guidelines for Opening Up America Again.

Why were the restrictions put in the first place? The government had to take stern action against nursing homes and put them under quarantine to prevent the spread of COVID-19, including severe infection prevention, ample testing, and investigation.

This plan that the government has come up with will be a guide through troubling times as life gets back to normal for nursing homes.

When stats suggest that 8 out of 10 COVID-19 deaths are of citizens 65 and above, the more careful we are the better. We owe it to the seniors of this country more than we owe it to anyone else.

By acting upon this guide, nursing homes will be able to mitigate the risk of COVID-19 exposure and prevent its spread within facilities.

In light of these issued recommendations, states should observe if nursing homes are taking the appropriate and necessary steps to ensure resident safety; moreover, they should know the right time when to reopen doors to the public.

In finality, the information you find here should support states and nursing homes bring families together, reunite them with their loved ones in a gradual manner.

Administrator Seema Verma has led from the front during the crisis; this time, she said and I am paraphrasing it; the coronavirus has had a shocking impact on our nursing homes, and as we reopen the country, we want to be sure that we are doing everything in our power to protect our most vulnerable citizens.

She continued by saying that their constant focus is on the protection and quality of life of the nursing home residents. While we reach the stage when we finally reopen, she said, we want to make sure that the communities have a set strategy moving forward.

Further, CMS recommends additional criteria for the safety of the nursing home residents since COVID-19 poses a direct threat to them as the country passes through the reopening phase. It is to complement the Trump Administration’s broader idea of the Reopening of America Again.

A nursing home, as part of the recommendation, must not advance through phases of reopening until all residents and staff have received their baseline test results.

CMS wants state survey agencies to keep an eye on nursing homes if they suffered from a serious COVID-19 outbreak before reopening.

As its final recommendation, CMS states that homes should remain in the highest state of restriction even if they see relaxation in the community around them, to ensure the preservation of lives.

Moving on, nursing homes will start taking in visitors in phase three, which will only occur when health reports show considerably less COVID-19 cases. Visitors must go through screening and wear a face-covering during the visit.

The guidance was released a couple of days back on May 18, 2020, but we thought by revisiting the recommendations, we can make a difference. P3, as QPP MIPS 2020 reporting registry, has considered it an honor to go the distance for the health of US citizens; this, specifically, goes out to seniors to whom we are grateful.

State leaders in collaboration with local health departments and state survey agencies would implement the guidance to limit COVID-19 exposure in nursing homes. Relaxation of the intense measures in a nursing home should only occur after a careful review of the following factors:

  • Number of COVID-19 cases in the local community
  • Number of COVID-19 cases in nursing homes
  • Available staff members
  • Baseline tests of all residents; weekly tests of all staff members; social distancing; face coverings
  • Presence of enough personal protective equipment (PPE)
  • Nearby hospital’s capacity

State and local leaders have a responsibility to see to these factors now and then and adjust their strategies accordingly, depending on the intensity of coronavirus spread in their vicinity. CMS is committed to taking measures that ensure the safety and revival of nursing homes.

coronavirus, medical billing service, healthcare industry, Coronavirus global threat, global health emergency, coronavirus vaccine, virus in China

Jackie Chan: 1 Million Yuan for Whoever Finds the Cure

Famous movie star Jackie Chan who needs no introduction has promised an amount of 1 million yuan for developing a vaccine for coronavirus. Since the virus is still very much around, especially around the city of Wuhan, it is a call to researchers, inventors, scientists, pharmacists, chemists, and biologists to come up with a remedy. A miracle vaccine!

Somehow finding its way to the Chinese population, the virus has taken hundreds of lives in a matter of days. Unable to find a solution until now, it has spread like wildfire in over 25 countries. According to the veteran actor, he feels for his fellow men and women and anyone who has succumbed to the deadly coronavirus.

No less than a million yuan is quite an incentive for the thinking brains out there to work their magic and invent an antidote. It is not about the money for Jackie Chan or the people he is calling on for a solution.

We are confident that it will happen anytime soon because that is what we want. Not only does human suffering is painful to see but it puts the responsibility on us to unite on this very cause. The cause is to find relief against coronavirus once and for all.

Jackie Chan’s stance

“Science and technology are key to overcoming the virus, and I believe many people have the same thought like me and hope that an antidote can be developed as soon as possible”, the actor declared.

He continued, “I have a ‘naive’ idea now. No matter which individual or organization develops the antidote, I want to thank them with 1 million yuan”.

He stressed the fact that he doesn’t want people to suffer from the virus when they should be enjoying life. And it is not about the money but the people.

Back at home during the medical masks and protective gear emergency, the actor was among the people who donated generously. It goes to show this guy is exactly how he looks like; a person with a heart of gold.

Kicks and nunchakus for coronavirus

coronavirus, medical billing service, healthcare industry, Coronavirus global threat, global health emergency, coronavirus vaccine, virus in China

World Health Organization (WHO) has declared it a global health emergency. Whether coronavirus likes it or not, it has to face the likes of Jackie Chan and the world of martial arts knows that if he sets his mind to something, he is unstoppable. Get ready to face round-house kicks because the attack mode is on which will not stop until it is defeated.

Background

The origin of this virus is still unknown; however, the Chinese city of Wuhan, located in the province of Hubei is under attack since December 2019. The area has been discussed so many times in the past that most of us have memorized it by now. However, it is of utmost concern to come up with a remedy.

All the efforts are being done to create a vaccine that neutralizes it in the system of an infected person. Most probably, the ideas will form into a permanent solution any day now.

Peace to the world

coronavirus, medical billing service, healthcare industry, Coronavirus global threat, global health emergency, coronavirus vaccine, virus in China

As of now, 780 people have died of this virus in China and a large number of people (over 37,000) are infected from it both in and out of the country. God bless the people as we hope to God to shower His peace and blessings from eternal heavens and wipe this menace of the face of the earth.

Conclusion

P3Care medical billing service supports any research efforts being done around the world against coronavirus. We may fail once; we may fail twice, but if we continue to look for a vaccine, ultimately, we will have one. The healthcare industry in the US is as concerned as anyone else. US government organizations such as the CDC have reassured the Chinese government that they are always ready to help.