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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.

Learn more at https://www.linkedin.com/company/p3-healthcare-solutions

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.

5 Things Every Medical Billing Company in Ontario, CA Needs to Do!

If you own a medical practice or work in a hospital, you might have hired a medical billing company for claims submission. Whether you are a reliable medical billing company in Ontario, CA or not, the discussion today is important in the general sense.

If the respective medical billing service is an established one, there’s a 100% chance that it would have overcome all the loopholes in its medical billing process. If not, you should be a little careful while hiring medical billing services.

It is observed that up to 20% of medical claims are denied due to poor medical billing practices. As a medical billing company, you surely don’t want to have a bad reputation in the healthcare industry. So, given below are few tips that you might want to follow. It will help you work better in favor of clinicians.

  1. Focus on Training Medical Billing Staff

If your medical billing agency recruits medical billers and coders, who have little or no experience in the respective field. You should immediately do something to train your staff because it might be causing major revenue loss for physicians.

Without the proper knowledge, medical coders are unable to choose correct codes for the diagnosis. It is possible that they might be using the wrong modifiers for treatments.

Medical billing services should properly train employees as per the CMS guidelines to create and submit medical claims. So, there remains no chance of error.

  1. Tighten Up Your Follow –Up Services

Medical billing services need to interact with patients and physicians simultaneously while creating medical claims. It is a lot of work. Reporting accurate diagnostic and surgical procedures along with double-checking them takes a lot of time. Moreover, they also get faxes and emails every day in bulks.

When there is so much to do, things can pile up. However, despite a busy schedule, it is compulsory to keep a check on the submitted medical claims. Know about the claims’ status that either they are in process or have been denied. It has a crucial impact on revenue cycle management. Also, the follow-up services are time-specific, meaning, you can resubmit denied claims within a specified time. Otherwise, they get lost in the piles of papers.

Thus, professional medical billing companies never look down on the follow-up services.

  1. Keep Check on the Accounts Receivable (AR)

Some of you may not consider this point significant. But, it indeed plays an important part in the revenue generation.

Patients and even insurance companies generally don’t keep a check on the payments. However, medical billing companies should verify if a bill is fully paid or not. The unpaid reimbursements can take your revenue journey down.

If a bill is unpaid, you can always go for follow up services until accounts receivable are paid.

  1. The Filing Time Plays an Important Role in Revenue Generation

There’s a time limit for submitting claims to insurance companies. If a medical billing practice exceeds that time period, the claim will not add up in the revenue.

Even, you submit a claim within the time limit, there’s a chance that it might be rejected. Then, why take risk submitting it after time.

  1. Improve the Denial Management System

The percentage of denied medical claims is rising day by day due to strict rules of payers and governmental authorities.

Therefore, the medical billing and coding staff should be up-to-date with the latest news and criteria. Instead of ranting over denied claims, medical billing services should rectify errors and resubmit claims within time. An even better option is that the medical billing and coding process should be so transparent and precise to crash the chances of denied claims.

An experienced medical billing company straightens its billing process to maximize physicians’ revenue. P3 Healthcare Solutions is such a company that ensures high-quality medical billing for its clients.

Tell us if you think, above-mentioned tips can help a medical billing company generate more revenue at

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3 Qualities a Good Medical Billing Company Must Have

In what cases do medical practices think of hiring a medical billing company? Maybe they don’t have resources to spend on the denial management system. It may be possible that their submitted medical claims keep on coming back to them due to poor coding and billing techniques. Or, despite their utmost efforts, they don’t get reimbursements for all rendered services.

There can be many situations for healthcare organizations, where they feel themselves in troubled waters. Instead of ranting over issues, the least they can do is to hire medical billing services. The dream of getting the reimbursement rate up to the mark can only be true with a professional medical billing company.

Either the clinicians don’t have medical billing and coding experts or time and budget to spare for in-house medical billing; medical billing companies seem like the best option.

Medical Billing Company Helps Stabilize Cash Flow Efficiently

Medical billing services have the responsibility to get clinicians their rightful reimbursements. The goal is to improve revenue cycle management to such extent that physicians face no trouble incurring expenses.

Moreover, when physicians are relaxed from the tension of handling medical billing process, they focus attentively on their patients.

Whatever reason encourages physicians to consult a medical billing company, it is important is to research well about them. Where an experienced, medical billing service takes your revenue journey up the ladder, an immature and unprofessional one can restrict your growth.

Here are 3 qualities upon which you can choose the ideal medical billing company.

Specialty- Specific Billing Solutions

Experienced medical billing companies offer billing solutions, which are compatible with your practice. The documentation and billing codes are different for each specialty.

It is advisable to choose a medical billing company that has experience in your specialty. Their staff is often well familiar and trained with the related new trends and rules. They generally have an understanding of mistakes that can cost a lot and rectify them on time.

For Instance, P3 Healthcare Solutions is one of the leading names in the healthcare industry. Their experts have skills and training to create and submit accurate medical claims to insurance companies, and happy clients are the proof of their success.

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Working Experience in Medical Billing

There is always the first day for every company, but physicians can’t rely on any immature medical billing company, who don’t know about the healthcare industry. The entire revenue cycle management system of medical practice depends upon their performance. If you hire a minnow, you can’t expect to have 100% results.

Especially, when the healthcare industry undergoes several changes to facilitate patients and physicians, you can’t go to a company, which doesn’t have an accomplishment record. Such companies don’t know how to manage risk factors and often don’t perform HIPAA-compliant medical billing.

They may not have the latest technology or knowledge to create medical claims with 100% accuracy with poor follow up services. Then, why choose them and risk your revenue process.

 Adequate Medical Billing & Coding Staff

When you hand over your medical billing process to another company, make sure that they have adequate staff to handle your all burden.

A professional and experienced medical billing company not only knows how to handle the bulk of data, but they have proper infrastructure and equipment to implement strategies. They also are able to streamline operations and enable interoperability seamlessly. They have secured way of exchanging data between patients, physicians, and insurance companies.

Their error rectification system is faster, and they can help medical practices save a lot of money.

There are also some other factors that demonstrate the success of a medical billing company, such as, how well they communicate with their clients or if they train their employees with up-to-date skills and knowledge.

A healthcare organization hires a medical billing company to strengthen its revenue cycle management. It is indeed a great decision. If the chosen medical billing company has a good reputation in the healthcare industry, you can set an appointment with them and proceed to have an official contract.

Do you think that above-mentioned qualities should be important in a medical billing service provider? Or, there are some other qualities, that you deem necessary.

Let us know.

Forget In-House Medical Billing, Hire Medical Billing Company!

Hiring a medical billing company is a great decision. After all, physicians hand over all of the precious data to another company, and their reimbursements are based upon the performance of the medical billing service.

Particularly, this decision is very hard for small medical practices. They don’t have extravagant budgets to spend on medical billing. Efficient revenue cycle management remains their main objective. Moreover, their operations revolve around doing more with less.

Doing medical billing and taking care of patients simultaneously don’t do good for physicians. They often fall short in their efforts and don’t get reimbursements on time, making their survival even more difficult in the complex U.S healthcare system.

However, consulting a professional medical billing company as P3 Healthcare Solutions helps in saving lots of bucks while managing medical claims with accuracy and precision.

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Why Medical Practices Hire Medical Billing Companies?

If you’re confused while making the right decision for your practice, have a look into the following advantages. It may make up your mind in favor of hiring a medical billing service provider.

The Medical Billing Process Becomes Streamlined

A medical billing service makes sure that physicians get notified of all the accounts receivable (AR) and the received payments from both ends, that are, from patients and insurance companies.

Medical practices don’t have to dedicate resources, who spend hours in keeping track of payment posting for each patient. Hence, when they hire a medical billing company, they get a complete report at the end of a specified time and can plan revenue strategies for the future.

Medical Billing Company has an Integrated Practice Management System

With the advancement in the healthcare sector and the focus on value-driven medical services, medical billing system has also become advanced. Now, insurance companies don’t receive papers, but they receive claims electronically via practice management software. In addition to the introduction of electronic healthcare records (EHRs) in the healthcare system, data collection has become secure but complex.

The integration of practice management with electronic healthcare records is important. Otherwise, you won’t be able to create and submit medical claims in an organized manner.

Now, do you think that it is possible for medical organizations to have a fully integrated system? No. It requires separate dedicated staff to handle all of the system, which means more cost expenditure. However, medical billing services have experienced team of medical billers and coders on hand with an integrated practice management system.

Accurate Medical Claim Submission

Healthcare industry undergoes several changes each year. The changes may be regulatory or by the federal or state government. Nevertheless, keeping up with the industry norms and changes is indeed a tiresome task, which only a medical billing service can do efficiently.

Professional services have time and resources to make sure that medical claims are created with up-to-date knowledge and in accordance with the rules and regulations. Thus, by hiring medical billing services, physicians’ time is saved.

Increased Return over Investment (ROI)

Medical billing services submit medical claims according to the guidelines of the insurance companies. They have the time, resources, and expertise to process medical claims professionally. They don’t only submit claims but keep track of the claims with the denial management system and follow-up services.

Healthcare organizations who want to improve their medical billing reporting method should definitely hire medical billing services. After all, physicians work is to take care of the patients rather than scratching their heads over medical codes and bills.

Thus, the best option left for physicians is to consult a medical billing company and improve their revenue cycle management.

Providers’ Guide to Best Practices for Revenue Cycle Management

Healthcare industry doesn’t only have hospitals and large medical practices. There are some medical practices that function in only one specific medical area and consult medical billing companies for reimbursements.

P3 healthcare solutions being a medical billing company has years of experience in medical billing services. We have come across many independent or stand-alone medical practices and well-established hospitals.

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How Independent Healthcare Providers Are Coping Up With Changes?

One thing we understood in all these years is that the norms of the modern healthcare industry are changing. The focus has shifted to a value-based healthcare system instead of volume-based care services.

It also leads to structural changes in the progressive healthcare industry. According to the American Medical Association (AMA), physicians having independent clinics cover less than half of the total US doctors’ population. However, this trend of owning personal medical practice was high back in the 1990s.

Reason for Reduced Rate of Independent Healthcare Practices

The declining practice of independent healthcare providers owes to many reasons.

Some observers of the healthcare industry state that independent healthcare providers are forced to join larger healthcare systems as the earned revenue is not sufficient for survival.

Why medical billing companies Can’t Support independent healthcare providers?

Independent healthcare providers don’t meet up with their cost expenditure due to inflation and price surge. The increased administrative burden of MIPS QPP increased the price of surgical hospital admissions, emergency room visits, and drugs, which has caused major problems for independent healthcare providers.

Thus, in recent years, due to low reimbursements, around 22% of the independent clinicians reduced their office support.

Impact of Low Reimbursement Rate

Low reimbursement rate from insurance companies has also damaged this industry. Even hospitals and large medical practices are not safe from the changes in the healthcare industry.

The healthcare providers when unable to cover expenses within earned money, get in-touch with huge healthcare networks. Thus, the amalgamation of large and small healthcare practices has led to low competition in the healthcare industry.

In addition, often patients don’t pay deductibles or the extra amount other than their insurance benefits to independent medical practitioners. This way, independent healthcare providers never really compete with bigger healthcare organizations.

Reservations of Solo-Medical Practitioners

One concern that solo-healthcare services show is about the unreasonable reimbursement standards of insurance companies. Big healthcare organizations can better negotiate their demands with the increased volume of patients, which is a profit source for insurance companies.

All these issues make it impossible for small independent healthcare providers to stay in the industry. MIPS QPP has also fueled the declining trend of independent health services. Patients want access to top-quality healthcare, which a separate-working medical provider may not be able to provide. Consequently, the doctor doesn’t find a large share of incentives and bonuses.

To keep an independent medical practice, most solo-physicians function as a group outside the hospital circle. It has also helped medical billing companies to get high reimbursement for them as well as offered shared administrative responsibilities and resources over the network.

This might be the only surviving option left for independent healthcare service providers.

As large medical practices are dominating the healthcare industry, it is evident that revenue cycle management has not remained easy for solo-practitioners. However, with little adaption to change and a professional medical billing company, independent healthcare service providers can work their way up the success ladder.