A Thorough Approach to Medical Billing Services
The Medical billing process is the same if you do it in-house or get it done through outsourced billing. However, not every billing company is the same. Some companies indulge in fraudulent activities that can result in hefty fines once caught. Others focus on the ICD-10-CM codes and punch in the data for you at an affordable cost. Talk about efficiency, P3 Healthcare Solutions works on client’s purpose to the best of their ability; we follow a thorough approach to the billing process.
Medical billing for small practices is where we have room for improvement because that is the area with large volumes of patients. Practices with 15 or fewer practitioners are the backbone of the healthcare industry; it is management at this level that will be the difference at present and in the years to come.
Healthcare Medical Billing Service for Guaranteed Peace of Mind
A clinician’s financial health is as important as their physical health. We ought to move quickly and be precise to take care of the revenue cycle needs. While the general billing process remains the same for each specialty, the ICD-10 and CPT codes usually differ.
Medical billing company’s first purpose is to smoothen the flow of money from the point of claim creation to the time of reimbursement. The first pass acceptance rate is one of the factors that separate the best medical billing companies from the rest. Most companies quantify a first-time acceptance rate of 95% on average. As far as P3 is concerned, we furnish a healthy first-time acceptance rate of claims in the late 90s.
P3 was not so far on the leaderboard carrying the best medical billing organizations of 2020. We went on to find a spot among the first five companies. Check out the screenshot below for reviews and ratings.
Effective Follow Up and Denial Management
A small mistake during the billing process may result in the claim being sent back for correction. If the error or omission is not rectified to the satisfaction of the insurance company, the insurer may partially or completely deny the payment. As a general rule, most payers have a 90-day period to respond to claim submission.
Payment might also be denied in case there isn’t proper follow-up on claims that require correction. Thus, adhering to the various legal requirements at every step ensures the smooth running of your revenue cycle.
For questions out of this service, or on instructions on how to get started call a medical billing service expert today at (844) 557-3227 or email at info@p3care.com.