Are You Plagued By Old Ar And Claims Not Worked On Time?
Posted on October 29th, 2014
Managing the AR of a Medical Practice can be very tricky, even when things are going as designed. While Medical Billing and Collections has been a challenge for all Medical Practices over the years, never has it been more crucial than in today’s Healthcare environment. Managing Medical claims Submissions and Follow-up must be made a priority and it is crucial in order to meet today’s regulatory mandates and maintain a consistent cash flow in your practice.
Why should you outsource?
Utilizing Outsourced Medical Billing is not only more accurate, but at the same time it can ensure that the much needed attention and focus required to keep all claims that are billed correctly, A/R follow up is done timely and in the shortest amount of time as possible. A/R denial and aging is the strongest indication of the need to engage a well-qualified Outsourced Medical Billing company. Today technology plays a huge role in Medical Claims management and this is another key reason to utilize a Physicians Billing Company. With the improvements in web - base solutions such as Practice Management systems, mobile capture applications and Electronic Medical Record systems offered by the Physician Billing Service Company that you choose will allow you to become a paper-less operation with new found efficiencies. In addition, this technology will enhance you practice s ability to meet HIPPA and other Complaisance regulations.
How to choose the best Physicians Billing Services company?
When looking for Physicians Billing Services Company it is imperative to be on the look out for the following:
- Does the billing services company that you are speaking to offer a dedicated Account Manager for instantaneous access/inquiries about your account?
- Do they offer 24 hour internet access to your information?
- Are they HIPAA certified to ensure the security of your patient’s information and how they manage it?
- Does the billing services company employ certified coders that are able to track any and all errors expeditiously?
- Can the billing services company collect at a high success percentage, in the shortest amount of time?
All of the above services noted are essential when choosing your Physician Billing Services Company. Using Outsourced Medical Billing for your practice, not only reduce the denials you receiving it will also improve your cash flow overall. Outsourced Medical Billing can also save you thousands of dollars when it comes to hiring staff, training them, providing benefits to those employees and the purchase of Medical Claims Management Software.
As reimbursements continue to be reduced and claims are becoming more scrutinized, it is imperative that you manage all claims very methodically and accurately through regular AR follow up. By using a very well qualified, seasoned Physicians Billing Company that not only meets the above criteria, but has a very strong Management team and staff that can steer your practice towards financial success, while you as a Provider can ensure that you concentrate on your patient care.
MGSI is adept in handling medical billing and collections prudently. Therefore, Providers can get help from this top-notch outsourced medical billing company that has more than 20 years of experience in the healthcare space. Based in Florida, MGSI is a national billing company that has been managing medical billing and collections, patient eligibility verification, and healthcare denial management seamlessly for its clientele of Providers, Medical Groups and Hospitals. To learn more details, log on to