3 Technologies in Favor of Value-Based Healthcare System

Medical billing services and clinicians have joined hands to strive for a progressive healthcare industry altogether.

As the focus on value-based care services has risen, there is no place for hiding for immature and quacks. The research in the healthcare sector is paving undiscovered paths for physicians and medical billing companies, which lead to better patients’ engagement, coordinated care services, and optimized treatment methods.

Some of these technologies are already in the market, and some are going to be available at the end of the year.

  1. Blockchain Technology in Healthcare

This technology serves for modern data collection and transfer system where blocks of data are connected and secured by cryptography. It was devised for digital currency (bitcoin), however, research shows it has a great potential to transfer data across healthcare organizations without any limitation that Electronic Medical Records (EMRs) have.

Its decentralized mechanism is compatible with every system and thus makes access to information easier and reliable than before. According to Forbes, blockchain applications will be showcased for commercial use at the end of this year.

Medical billing services will find this technology useful to minimize errors in data transmission.

  1. Telemedicine

Telemedicine may be a familiar term for many of you. You even might have seen a practical demonstration of this technology anywhere. Whatever the case may be, this technology reduces the gap between remote patients and clinicians via electronic means.  It also affects the way information is submitted to a physician. The optimized and smart interaction surely brings a breakthrough in a regular patient-physician interaction and consequently in medical billing services procedures.

  1. Artificial Intelligence

Since 2018, we have been listening about the implication of artificial intelligence (AI), and indeed, it is the future of every field.  Speaking generally, artificial intelligence will revolutionize the monitoring of human activity. Reaching far-away areas where there are limited or no resources will be possible with artificial intelligence. Who knows AI modernizes diagnostic procedures so much that the need to take out blood and tissue samples vanishes.

Even Forbes says that work productivity in healthcare systems can be increased by 10-15% within the next two to three years with AI.

In general, when we look upon the healthcare technologies, one thing comes forward. They all strive to improve data transmission and patients’ engagement level. The factors like interoperability and the burden of shifting to a new system are challenging, but in order to get the best healthcare outcomes, physicians and medical billing service providers need to adopt new methods and implement value-based healthcare strategies.

Do you agree or disagree? Give us your view at https://www.linkedin.com/company/p3-healthcare-solutions.

How to Stabilize Finances of Healthcare Practices?

This is the 21st century. The healthcare rules are changed. Physicians don’t have the time to file claims with insurance companies due to administrative burden. Therefore, medical billing services stand next to healthcare practices to help them increase revenue. Certainly, it’s not time when physicians’ only had to worry about the well-being of patients. Now, the factors like patients’ satisfaction, implementation of engagement strategies, and innovation in the healthcare industry via MIPS have more points in making a physician’s reputation.

Thus, it is not wrong to say that it’s time to work smart! Therefore, technology comes to save the day for physicians and medical billing companies.

Medical Billing Services! If you’re looking to increase the collection rate for your clients, watch out for the following technology innovations.

These suggestions optimize medical billing and coding process, save time, and help increase ROI.

  1. Go Online

Leave paper behind. In this digital era, do you believe, sending invoices to patients via paper is a reliable or safe way? Well, No.

Most of the medical billing services still send bills via papers, and we must know this method is obsolete. Collection rate can be significantly increased if physicians allow a digital method of sending invoices.

  1. Ask for Payments While the Patient’s Visit

It is observed that the chance of collecting payment decreases by 20% when patients walk out of the physicians’ office.

In-house or in-office payment rate increases when medical billing companies or front-desk staff accepts credit/debit cards on the spot. But, first make sure you have a HIPAA-compliant setup and you obey Payment Card Industry Data Security Standards (PCI DSS) guidelines.

  1. Verify Patient’s Insurance Eligibility Beforehand

Verifying patient’s insurance eligibility before the treatment is an under-rated practice. However, when done, it makes bank accounts full. Some software can help in this task, and some of them are so advanced that they even notify physicians for the paid payments by the patients such as deductibles and copayments. In this way, medical billing services can proceed with medical claims without any difficulty afterward and even inform patients about their financial responsibilities.

It needs a big investment, but it is worth every penny.

Healthcare innovations are on the rise. So, it’s better to move forward instead of sticking to the old conventional methods. It is not only beneficial for introducing interoperability but also to level up the billing and coding standards.

Don’t you think?

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How to Verify Healthcare Insurance: Step By Step Guide for Medical Billing Services!

There is no doubt in it that physicians need revenue for their survival, and medical billing services work day and night to help them meet their expenses efficiently. They focus on developing a strategy for an efficient billing solution to maximize revenue.

Besides the other medical billing and coding procedures, verifying the eligibility of health insurance before the patient’s treatment also maps out a financial situation for physicians. Not only, it is an important revenue increasing practice for healthcare organizations, but is also beneficial for patients.

Given below is a guide on how medical billing companies can verify insurance eligibility in 10 easy steps.

Let’s check out!

Obtain Important Information from the Healthcare Provider

When a patient visits a doctor, it is the responsibility of the front-desk staff to accurately record patient’s information. The information includes,

  • Name of the patients
  • Date of birth
  • Social security number
  • Contact number
  • Information of insurance provider
  • Insurance ID & group number

Medical billing services need to access this information, if healthcare providers don’t provide them with the accurate patient’s bio; it would be difficult for them to verify eligibility.

Ask for Original Health Insurance Card from the Patients

Request the patient to provide with the photo ID and make copies of the original health insurance card for the future.

Contact the Respective Insurance Company

Make a call to the relevant insurance company or via electronic means, check if the insurance that patient claims, is valid.

Research If the Insurance Benefits Remain Valid on the Date of Treatment

Verifying the date of patient’s health insurance safes from unnecessary stress in future. This information has to be checked with the insurance company.

Check for the Insurance Benefits

By contacting with the insurance company, medical billing services also need to verify about the benefits that a patient can avail and the copayment that he has to pay by himself.

If there are charges that insurance doesn’t cover, make sure to inform the patient before the treatment, so that, he recognizes his financial responsibility before time.

Check If Your Healthcare Provider is included in the Patient’s Insurance Network

If the healthcare provider is not included in the patient’s insurance network, the chances are that the insurance company will not pay the whole reimbursement.

Know About the Deductibles

Before the insurance company pays for the services, the deductible is the amount that the patient pays. There is a different amount for different insurance plans. Medical billing companies need to ensure if the patient has paid the respective dues or not.

Verify Copayments

Collect copayment from the patient, give them a slip, and provide them with treatment details. In this way, patients can verify their insurance benefits by themselves.

Be Efficient with Customer Support Services

If patients need assistance in any matter, answer their queries efficiently. Generally, healthcare providers don’t have time to deal with patients regarding payment matters, so the front desk staff does it.

But, if the reception staff is not capable to provide such information to the patients, the medical billing staff has to take care of this responsibility as well.

Verify If the Patient Has a Secondary Insurance

Often patients have secondary insurance and a certain amount of charges is covered in that plan. It is advisable to verify secondary insurance information, the same way as above-mentioned.

Successful medical billing companies ensure practices that best suit the healthcare service provider and elevate his revenue cycle. And, insurance verification serves the same purpose. If the insurance verification process is completed beforehand the treatment, the rate of accounts receivable (AR) is reduced. Moreover, patients know about their financial responsibilities as well.

What do you think? Give us your views at https://www.linkedin.com/company/p3-healthcare-solutions/ and stay updated with the latest billing knowledge.

5 Hurdles Physician Credentialing Experts Can Help You Avoid

Credentialing specialists and those working to validate doctors in healthcare setups have a huge responsibility on their shoulders to come through as trustworthy partners. Because, if they fall short of certain requirements, not only does it jeopardizes their position but puts physicians’ career at risk as well.

Medical credentialing is the process of validating and revalidating physicians to be part of a professional healthcare network. Doctors go through re-attestation and revalidation by the help of credentialing experts after they carry it to good effect. P3’s credentialing services make use of rules in favor of physicians so they aren’t penalized in any way.

Overcome the following hurdles with the help of physician credentialing experts.

  1. The Critical Stage of Physician Verification

A new provider who is about to join a hospital needs 60 to 90 days to be fully verified. Once physician credentialing experts give the green signal, the providers start to see the patients. As the process involves microscopic verification related to education, work, past cases, and medical license, a tiny mistake can undermine the process further.

  1. Furnish Peer References on Time

When you have P3 as your medical credentialing service, tenacity to complete the process comes by default. Due to physician’s busy schedule, it is hard to find time for such matters. Don’t think twice when it comes to hiring trained HIT consultants for credentialing. It makes the job at hand, easier.

Peer references are part of the process but finding spare time to address to them and for peers to respond accordingly is the real issue. Don’t fret, because P3 Healthcare Solutions, Ontario, CA has got you covered. We assist you in health IT and credentialing is not any different.

  1. Address Physician Credentialing from Time to Time

The process is not a one-time effort, but a continuous one. For instance, clinicians in ambulatory surgical centers require reevaluation every 1 to 3 years. Constant work is required of their profiles to stay updated.

Since physicians have different portfolio renewal dates, the ASCs have a hard time keeping up with them. Therefore, we, as credentialing specialists, offer healthcare providers the best of solutions. Subscribe to our annual plan at this number 1-844-557-3227 and get rid of the stress forever.

  1. Unified Approach for Patient Health Plans

With the inclusion of the state exchange and federal health plans, credentialing undergoes another knot of complexity. Physician practices, to stay current and updated, have to take up plans of their patients into consideration. There has to be a certain balance between the number of patients visiting practice and revenue generated as a result.

  1. Enrollment with Patient’s Exchange Plan

Due to several stages in the process, the right tactics need to be in place. Otherwise, physicians will experience a delay in payments. For instance, as medical credentialing experts, we make sure physicians enroll with the exchange plan of their patients. As a result, they are paid for rendering services.

Third-party medical credentialing services simplify the process of enrollment and credentialing. Sometimes when trust takes the backseat, it is difficult to rely on outsourcing companies. RCM process improvement comes as an additional perk with P3 as an emerging medical billing service according to a survey by Clutch.co. Discover your true potential to cross the maximum revenue benchmark as we don’t settle for anything less.

About P3 Healthcare Solutions, Ontario, CA:

We are a medical billing company that works for providers while they work for patients. The end-to-end revenue cycle management process activates the true potential of practices. It is an effort to generate for you and utilize the boundaries of the healthcare system in the best interest of physicians and their patients. In the end, every practice deserves high revenue and reduced losses.

Contact Us

P3 Healthcare Solutions, Inc.

Phone – +1 844 557 3227

Get in touch on email – info@p3care.com

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Medical Billing Services for Dentists by P3Care, Ontario, CA

Medical billing services will agree that getting reimbursements for dental surgeries is quite difficult. Dental insurance benefits are not as elaborate as other healthcare plans. Therefore, many dentists don’t support this approach and have adopted the pay-per-service method. But the fact is getting money from patients is a daunting task.  If patients are insured, insurance companies pay at least 70% for the incurred expense.

Medical Billing for Dentistry Is Also In Favor of Patients

If dentists adopt medical billing process, patients will not have to stress about payment.

Consulting a medical billing company like P3 Healthcare Solutions would indeed be 180-degree turn over for dentists and fellow assistants.

However, the shift will save physicians’ time from running after patients for reimbursement.

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How P3care, Ontario, CA Manages Medical Billing For Dentists?

All the medical billing companies, who wish to create accurate claims for dentists, here are some tips to make the billing process accurate.

Accurately Document All the Specifications

Medical billing services have to prove to the insurance company that dental surgery was necessary for the patient’s oral health.

P3Care searches for the most relevant ICD and CPT codes to report for dental surgery. We make sure to state the reasons for surgery as precisely as possible.

We suggest you submit medical claims with explicitly stated,

  • The situation of the patient, when he came to the dentist
  • The causes of the damage oral health
  • The diagnostic code for the treatment
  • Surgical procedures

This particular information leaves no room for the insurance companies to deny the medical claim. Moreover, it helps them understand that the patient has not simply a minor dental problem but is a severe case that needed surgery.

Go for Pre- Authorization of the Benefit Plan

Surgeries of any kind don’t happen suddenly. Physicians often have the time of a day to two, before the surgical procedure. Medical billing companies can use this period to pre-authorize insurance benefits from the insurance company. It helps to know if the insurance company will pay for the treatment or not. It will be like an Explanation of Benefit (EOB) statement.

Pre-authorization of the process saves physicians’ time and patients as they get to know about the payment responsibility at the early stages. Moreover, the benefits patients have in their health plan and the deductible that the patient has to pay becomes clear.

Hence, like all other medical specialists, dentists should also progress with changing times and switch to medical billing services for reimbursement purpose.

Phases in Medical Billing Services for Podiatrists

There are several medical specializations and for each specialization, there is a certain set of rules and codes in medical billing services.

Not every medicine field has the same diagnostic and surgical procedures. Similarly, medical billing and coding guidelines and techniques are different for each specialization. Same is the case with podiatry. When a medical billing company claims for podiatry services, they work on a special dedicated plan.

First, learn what is Podiatry?

Podiatry is the branch of medicine, which is concerned with the diagnosis, treatment, and study of diseases and disorders of the foot and lower extremity. Treatments are related to regular healthcare treatments, neurological, metabolic, and other underlying issues along with injuries, wounds, and infections.

Rules Regarding Medical Billing Services for Podiatrists

The Center of Medicare and Medicaid Services (CMS) has defined rules and procedure for each discipline of medicine. There are clear instructions of what should be covered under an insurance plan for podiatrists. New medical billing outsourcing companies can take notes from their official website.

Insurance Don’t Pay for Non-Medically Necessary Services

Under CMS rules, insurance companies will only pay for medically necessary foot care services.

A regular foot care service falls into the following categories.

  • Additional
  • Mandatory
  • Supplemental
  • Optional supplemental

What Exclusions Are Involved in Podiatry Medical Billing?

There are certain cases in which fighting with insurance companies for reimbursement is straightaway lost war. There is no point in sending claims for the following cases.

Straight away rejection cases include:

  • Initial care service
  • Existence of metabolic, neurologic, or other peripheral vascular diseases
  • Mycotic nails
  • When a patient is already receiving primary healthcare
  • Dislocation of ankle joint
  • Subluxation of structures within feet
  • When a patient wears orthotic shoes
  • When a diabetic patient wears special shoes

To higher the acceptance rate of medical claims, medical billing services should precisely state the name of the podiatrist, who diagnosed the disease. Moreover, the severity of the condition should be reported not just the diagnostic procedure.

New medical billers and coders often get lost in the maze of instructions and guidelines. Medical billing for podiatry indeed requires a great level of accuracy as insurance companies don’t pay for these services very easily.

However, with little care, necessary paperwork,  just like we do, there will be no problem in the claim submission process. We, P3 Healthcare Solutions, Ontario, CA have carefully devised medical billing methods for different specialties and offer specialty-specific services to physicians.

Follow us on LinkedIn https://www.linkedin.com/company/p3-healthcare-solutions and let’s be friends.

Healthcare Demands Skilled Workforce besides Modern Setups

We pass through time in need of smart additions in healthcare to manage the developing requirements. Yes, the environment goes from quantity-driven to quality-driven giving rise to the need for a dynamic workforce. Technology being the major driving factor affects the industry as we speak. The difference between demand and supply creates a vacuum, and to fill up that space, we must look for people with matching skills.

What kind of workforce are we talking about? Whether they are nurses, physicians, HIT consultants, medical billing services, RCM, medical billing and coding consultants, data scientists, case organizers, credentialing and enrollment specialists, hospitals both large and small face many obstacles to find the right people for the right roles.

P3 Healthcare Solutions, Ontario, CA follows an idea to seek excellence in everything it does. It is not a one-time heroism but a constant struggle to maintain a steady workflow.

Is Your Healthcare Practice Ready for Workforce Challenges?

When we say challenges, we are not kidding. The threat is very real.

We require more technology experts who know their way around tools, websites, rules, reporting, and compliance standards. CMS comes up with new and updated rules under which healthcare practices may be incentivized or penalized.

Furthermore, MIPS 2019 is the current face of value-based care. To select appropriate measures and report them to CMS, the system demands skilled IT professionals.

Not only that, but the growing aging population is a persisting problem, we have to be ready for. It directly relates to the need for more doctors and nurses. Cybersecurity, on the other hand, isn’t less of a concern in an era of software and the Internet. As healthcare warriors, we must position ourselves and learn modern ways to tackle intruders and viruses.

What Does The 2019 HIMSS Survey Suggest?

The latest 2019 HIMSS U.S. Leadership and Workforce Survey covered 232 health information and technology experts from acute and ambulatory providers across the country. The purpose was to know about the hurdles in their way and the organizational steps they want to take to answer them.

The report also confirms the diverse nature of opinions of hospitals and non-acute facilities when it comes to health information technology, medical billing services and workers in general.

For instance, inpatient setups view the hiring of C-suite executives as a priority. They can steer strategic goals in a meaningful direction.

Another comparison between hospitals and practices monitors the role of rank-and-file employees. The opportunity level differs from one another – the larger inpatient sites offer extensive work opportunities whereas non-acute physicians have a static workforce requirement, according to HIMSS. A staffing strategy hugely depends on IT factors among others.

Healthcare vs. Current Challenges

Admittedly, the challenges at hand pose a threat equal to a disaster waiting to happen. We can only deal with them if we have the right workforce. We can make use of the skilled workforce under –

  • Cybersecurity, privacy, and data security
  • Health information and tech to improve patient-centered outcomes
  • Clinical engagement and clinical data management
  • Care coordination
  • Process improvement, workflow, and administration
  • Business intelligence
  • Leadership
  • Health information exchange and promoting interoperability (PI)

Staffing poses as big a challenge to providers as the implementation of a new law to federal agencies. They feel the negative impacts of it day after day.

Increase in Labor Force Spend

Expect to listen to ‘You’re Hired’ in the upcoming times. It will increase the spending on labor force required to run a hospital. AI, digital health, the use of CEHRT, Telehealth and medical billing outsourcing can raise your chances to cut down costs.

Your passion may be bigger than your job, but with the growing population and quality metrics taking over, it is easy to predict skilled workforce to be one of the crucial aspects of healthcare in the future. To be able to run a facility to full effect, the inevitable support of HIT consultants and medical billing company matter now more than ever. To get the latest medical billing and coding advice, follow us on LinkedIn – https://www.linkedin.com/company/p3-healthcare-solutions

Do you face any challenges in terms of practice administration, revenue generation and compliance?

One Day in the Life of a Medical Biller

Working in a medical billing company is not at all easy. Medical billing service providers go through a roller coaster of emotions every day. Gathering bulk of data from each clinician and carefully creating medical claims requires lots of efforts.

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Let’s take you through the journey of how we manage to do it all, have a look!

When medical practices hire P3 Healthcare Solutions for a complete medical billing solution, we make sure to grasp on each detail that they offer to maximize revenue as per the demands.

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Medical billing and coding agents don’t really have much time to spend on other activities.  Whenever they’re spearing some moments with colleagues, an alarm clock inside their heads gets them back to work.

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One thing is certain; medical billers and coders are so used to tough times that nothing surprises them anymore. Not even denied medical claims.

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Insurance companies have strict rules; meeting their standards is almost like climbing up the K2 Mountain.

You guys can’t even imagine the feeling when medical billing services meet up their target and submit medical claims to the payers.

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The billers and coders usually go through a session of internal crying, upon receiving the news of the denied medical claim.

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After the tiring work hours, when we listen to the good news that insurance companies have agreed to pay the full reimbursement.

We go through a phase of shock, as getting money from a private payer is certainly not a piece of cake.

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And, then, we feel like clapping and dancing to our favorite beats.

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Insurance companies when pay the required amount to clinicians, they, upon receiving the money become extremely excited.

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As a professional medical billing company, P3Care also get satisfaction by making our clients satisfied.

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Jokes aside, medical billing services work tirelessly; and, we find our happiness in serving the healthcare industry by sharing the burden of physicians.

4 Tips to Improve Patients’ Payments via P3Care, Ontario, CA

Medical billing companies have the responsibility to make physicians’ survival easy by collecting reimbursements. Insurance plans are of many types, and in case of private healthcare plan; patients are required to pay deductibles from their pockets.

The healthcare expenses in the U.S have already reached a limit; where even a middle-class patient finds it difficult to clear off his bills. Therefore, getting deductibles and co-payments from patients prove to be a hectic job for medical billing services.

Apart from the strict rules of insurance companies, medical billing companies have a hard time collecting patients payments. Then, how can they ease their burden and reduce accounts receivable (AR)?

It might seem like an impossible job, but via 4 simple tricks that P3Care has learned over the years, medical billers can achieve success in this regards.

  1. Medical Billing Companies Should Allow Multi Channels Payment Methods

Suppose you and your friend have to pay some bills, it is not necessary that you both will pay through the same method. Maybe you like paying cash and your friend might like to pay via credit card.

According to research, customers make payments based on the fact that what is convenient for them. Same is the case with patients. When there are multiple payment methods, patients can opt for the most suitable method. Medical billing companies should encourage clinicians to have a flexible payment method. Otherwise, hospitals would be missing out some major revenue.

The Omni channel approach of payment model doesn’t restrict patients with minimum access to choices. It will also have a positive impact on the patients’ satisfaction level.

  1. Adopt Automated Payment Method

Automated payment refers to paying bills on a predetermined date. This payment method ensures secure and confirmed payment by the patient. As the patient already knows about the scheduled payment, medical billing companies thereby, need lesser staff for payment collection.

Generally, via this method, patients make payments on time, especially the ones with high deductibles. Moreover, the billing staff can reduce unnecessary expenditure. For Instance, on paper files.  Automated bills also help to reduce the efforts for follow-up services.  The front desk of medical billing companies doesn’t have to go after each patient for payment. They only have to decide upon a specific date, and the process goes by easily, other than in exceptional cases.

P3 Healthcare Solutions being among the best medical billing companies in Ontario, CA recommends that medical billers should inform about the total payment while deciding upon the payment plan to the patient, rather than asking for a fee each month.

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  1. Educate Patients about their Payment Responsibilities

Medical billing services should be clear about one thing; you can’t expect patients to pay deductible and co-payments at once, particularly, if they’re in significant numbers. Nobody likes such surprises. Therefore, a better approach is to educate patients in the early stages of their financial responsibilities.

It is also proven from research that around 91% of patients like to know the complete payment model prior to the visit. Clinicians in association with the medical billing service should map out every payment detail in front of the patients. Only this way, physicians will manage to increase revenue for themselves.

It also brings forward a good reputation of the physicians and makes patients trust more on the medical practice.

  1. Ensure HIPAA-Compliance in Payment Model

Patients’ data security is everything. However, healthcare data is always at risk. We have seen many scenarios where data breaches lead to huge revenue losses. While creating medical claims and collecting payments from patients, medical billing staff works with sensitive information, be it, credit card information and healthcare records.

Taking exclusive measures to protect the misuse of data requires the allocation of dedicated resources, which some companies might not be interested in. However, this step can’t be neglected. Besides streamlining other billing operations, patients’ data security also adds to revenue increment.

Moreover, designing a comprehensive security plan as per the Payment Card Industry (PCI) standards don’t necessarily require a huge investment.

P3Care is one of the renowned names in the medical billing world.  We have worked for several years in this industry and increased revenue for many clients. By implementing above-mentioned tactics, we have managed to generate fruitful results. Hopefully, it’ll result in the best possible way for minnows of the billing industry.

In What Ways Medical Practices Can Take Risks to Increase Revenue

Everybody agrees that healthcare professionals, no matter in what capacity they serve, require every bit of applause. Working in hospitals is indeed a hectic job, and clinicians work tirelessly from day to night.

When it became difficult for physicians to meet up with ever-changing scenarios, medical billing companies came to their rescue.

Now, insurance companies have strict rules and regulations, and physicians get reimbursements only when they meet the standards. Also, with the already complex U.S healthcare system and value-based incentive programs as MIPS, physicians tend to put greater efforts for their survival. It also put pressure over the medical billing services, as they could not afford to perform below average.

Besides, the focus on value-driven healthcare services has increased. Patients’ engagement level and integrated healthcare infrastructure have also gained more importance than before. Thus, medical practices ought to implement strategies that benefit them in the long run.

According to a survey report of Healthcare Financial Management Association (HFMA), more than 7 medical facilities in a group of 10, aim to take risk via

  • New commercial payers
  • Medicare advantages
  • Medicare contracts

One thing is interesting to note that many healthcare leaders support the idea of a revolutionary healthcare system that benefits both, patients and physicians.

Provider-Sponsored Healthcare Plans (PSHP) is gaining much attention even from medical billing companies as patients get insurance plan owned by a hospital or physician. 25% of the medical practices are already going to be part of the PSHP system, and 19% of hospitals want to launch their own healthcare insurance plan in the upcoming years.

Alongside this, Medicare and private payers are also increasing their range of insurance benefits.

What Benefits will Physicians Get?

If medical practices take chances to go for new payment models, both payers and physicians will be equally benefitted. Physicians will be able to implement accurate value-based practices while being closely in touch with the payers. The communication gap will be reduced, and the medical billing companies will reduce the rate of denied medical claims.

The Use of Healthcare Technology

By taking bold steps to increase reimbursements and efficiently run revenue cycle management, physicians will be able to use the latest healthcare technology successfully.

Hospitals will manage to spend efficiently upon the technological infrastructure to increase engagement between physicians, patients, and payers. Surprisingly, many physicians are ready to spend money on new technology avenues.

What are the hurdles that might come?

Even in 2019, there is not much demand for drastic risks in the healthcare industry. Although, many physicians like the idea to try something new. Still, they are comfortable with the Fee-for-Service (FFS) payment model.

What Should Physicians Do?

You can always take risks whenever you want.  On the contrary, you can also benefit yourself from the existing payment model and generate revenue by focusing on the betterment of the following parameters.

  • Engagement rate
  • Standardized clinical procedures
  • Cost-effectiveness

If you’re struggling in managing accounts receivable (AR), taking risks may seem like an appropriate option, but the transition process is also tiring. You can’t expect to achieve everything within a little time. The best approach is to keep improving healthcare strategies gradually and consult a professional medical billing company that creates medical claims with up-to-date knowledge. Like, P3 Healthcare Solutions- A professional medical billing company in Ontario, CA that has years of experience in the billing field and helps in generating revenue for its clients.

What are your thoughts? Let us know if you’re willing to take risks regarding revenue generation?

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