Medical billing Company

Medical billing companies are emerging in huge numbers because this particular field is creating better job opportunities. CMS takes the healthcare industry into the 21st century by implementing rules and procedures and updating them at a consistent pace. By following CMS closely, we can maintain an efficient billing process.

Medical billing is the process to pay the healthcare providers for their services to the patients. But this is not as simple as it may sound. The bills in the form of claims are sent over to the insurance companies for reimbursements. If there are any glitches in the claims, there are outright denials or rejections which can hurt the overall revenue. Therefore, we follow a thorough approach to make bills consistent, so the payments keep flowing. Although the regular pace of process is slow, the denials make it slower. P3Care, as a reliable medical billing company, ensures there are fewer denials to maximize payments.

The protocols and procedures that we follow streamline the workflow creating space for the claims to be accepted in one go.

Crucial Stages

By strictly following the steps below, P3 Healthcare Solutions speeds up the entire process, improving acceptance rates.

1. Patient check-in
2. Insurance status and verification
3. Assign codes to diagnosis and procedures according to CPT and ICD-10 coding system
4. Charges against the codes
5. Claims submission
6. Cash posting
7. AR follow up
8. Denial handling
9. Reporting to the client

P3 Healthcare Solutions, at every step, stays vigilant without compromising on the information given on those claims. By successfully executing each stage, we assure our clients have the peace of mind to carry on what they do best. Our Revenue Cycle Management (RCM) services are unlike other medical billing companies targeting better collections and stable cash flow.

Easy Fee Structure

The standard medical billing rates are much affordable than the in-house setup. Medical billing outsourcing companies may seem expensive simply because they are outsiders. But, in reality, they are quite the opposite. Usually, the fee is a fixed percentage of the monthly revenue. However, the medical billing rates by specialty can vary from one physician to another.

An outsourced billing service like ours have the flexibility to charge in whatever way is more suitable. In some cases, flat-fee medical billing is more practical, while, in some, percentage-based payment system portrays a better outcome. We are a company that is built on morals and principles and the Business Associate Agreements will put us on the authentic side of things. Our charges are feasible to most of our clients. Therefore, if the medical billing pricing structure is stopping you from coming forward, you must get rid of that thought, immediately.

We give you the reasons to outsource medical billing. It is quite an achievement for us to understand the billing world in such a short time since we only started operations in 2015. The leadership is committed and highly intelligent to depict the future trends. The whole team works under their solid guidance, proactively, utilizing the freedom of thinking and practical application.

Our medical coders are proficient in the latest coding guidelines, whether, it is the Current Procedural Terminology (CPT) or the International Classification of Diseases (ICD-10-CM) coding system. One of the reasons for claim denials is the lack of knowledge in the latest coding guidelines.

When most of the coders make the mistake of under coding, over coding and assigning an outdated code, it is highly unlikely for our medical coding specialists to make those mistakes. The professional staff keeps abreast with the CMS updates.

P3 Healthcare Solutions receives, stores and transmits ePHI in an orderly manner without the risk of data breaches. We take necessary security measures to ensure greater IT security.

We follow strict on-premises procedures to safeguard ePHI so that the laptops or other systems remain in one place within a secure and protected environment. This takes care of the physical aspect of the IT security, necessary for the healthcare industry.

Our staff consists of medical billers who are a class apart when it comes to submissions. By developing this intuitive ability from years of experience with the payers, they can sift through the medical billing process. From the time patients’ check-in to the moment insurance companies release payments, the process demands a careful approach. To maximize the first-time acceptance rates, our experts look at every claim critically and carefully assign the codes for diagnosis and treatment.

HIT consultants here at P3Care expedite the entire billing process handling the Revenue Cycle Management (RCM) process. Satisfaction in the form of a stable financial cycle is of primary importance just like treating a patient is yours. The value-based models’ architecture comes down to a cost-effective treatment, and P3Care becomes a part of that by suggesting a reasonable fee.

You may find a list of medical billing companies on the Internet that may not mention us but that doesn’t mean we should not be up there. It is one of the primary goals of a medical billing organization to extract payments out of all the bills resulting in minimum accounts receivables. Regardless of the efficiency and extreme caution, denials still happen and situations change to introduce appeals to the scene. Sometimes the claims lack medical necessity, and, thereupon, appeals make them better. Ordinarily, our billers file the required documents with the claims leaving no room for appeals or deductions in the total amount.

We keep the providers in the loop regardless of the complexities of the process. We inform our clients if they face such an issue at the first convenience.

Under HIPAA compliance, we are a business associate that fulfills all the requirements. We completely follow the HIPAA guidelines.

Sometimes the patient is asking for something different than what their health plan suggests. In that case, we inform the providers so they know what’s going on. Generally, if the physician is not part of the insurance network, they may ask to be on their panel in exchange for a small fee.

For questions out of this service, or on instructions on how to get started call a medical billing service expert today at 1-844-557-3227 (1-844-55-P3CARE) or email at info@www.p3care.com.