Medical billing and coding can be a hassle for even the most seasoned healthcare professional. With thousands of ever-changing medical codes and regulations to navigate, finding time to get all claims filed correctly can feel impossible. That’s where Comprehensive Healthcare Revenue Management (CHRM) comes in. Our team of medical billing professionals can help your practice/facility every step of the way in the revenue cycle management process. We are not a billing software company, nor are we tied to any one EHR, so we won’t push any software onto you, but rather work with your current EHR or recommend a new one if it’s not the best fit. Our team of industry professionals values transparency, honesty, and accountability, so you can rest assured that we will always keep you in the loop on what is going on with your revenue cycle and how you can maximize your bottom line.
In-house medical billing is often time-consuming and stressful for your administrative staff. Not only does it require constant training in order to stay up-to-date on changes in regulations and codes, but it also takes away valuable time from other administrative duties. You may even find that you start to distribute billing duties among other staff, including clinical staff, just to get the job done. Perhaps you even start scheduling administrators to work on the weekend.
Overstretching your staff can quickly lead to dangerously low morale, as well as billing and coding errors. At this point many practices still avoid outsourcing their medical billing and coding because they fear that it won’t be affordable. The truth is that outsourced medical billing services can save you considerable money in the long run, as it greatly increases efficiencies, no matter the size of your practice.
High Staff Turnover
Another common consequence of administrative strain is a high staff turnover rate. When someone leaves your practice, you are forced to either distribute the work among already overstretched team members, many of whom many have little to no knowledge of medical billing and coding practices, or spend significant time training someone new who may leave before their training is even over. All of this can lead to reduced revenues, more billing and coding errors, and poorer quality of care. Outsourcing your medical billing allows you to focus on the people who matter most — your patients.
An Increase in Delayed Payments
Mistakes with medical billing and coding result in extra work and delayed payments. If you find that your practice is receiving a high number of denied claims, and thus losing valuable revenue, it can feel incredibly demoralizing. Claim rejections are commonly due to clerical errors such as incomplete information, duplicate claims, billing for things that aren’t covered by insurance, missing file dates, and incomplete codes.
CHRM’s revenue cycle management experts are highly trained in all areas of medical billing and coding, and can identify the cause of claim denial much quicker than most administrator staff. With some medical practices having a rejection rate as high as 30%, outsourcing your medical billing can allow you to improve your clean claim rate by up to 99%. This results in your practice getting paid what it’s owed faster than ever before, increasing your overall revenue.
A Decrease in Quality of Patient Care
If your staff is focused on medical billing and coding instead of patients, quality of care can quickly decline. Your receptions may fail to acknowledge patients as they walk into your practice because they’re focused on filing a claim, and your nurses may be slow to get to the exam room because they’re tied up on billing. Although these things may seem small, they can significantly impact the overall experience of your patients.
It’s the job of receptionists, office managers, and other staff to provide patients with exceptional attention and care. When they’re focused on billing and coding, it’s impossible for them to devote the time needed for this invaluable task. Outsourcing your medical billing and coding allows your team to devote themselves to their fundamental job responsibilities and leave the time-consuming billing and coding up to the experts.
Declining Efficiency in Workflow
We’ve all heard the phrase “too many chefs in the kitchen.” What this means is that when too many people are working on the same task, it can lower efficiency and decrease quality of the final product. This is because one person does the task this way, while another does it that way, and the end result is more than a little disappointing. When staff members are all trying to do the same thing, claims either get duplicated, rushed, or not filed. At CHRM, on the other hand, all of our staff undergo a consistent training process so that you know your claims and coding will be done the same way, everytime. In addition, our accountability model means that each of your claims will be double-checked, to ensure that it was done correctly.
Outsource Your Medical Billing and Coding With CHRM Today!
If your practice is facing one or several of these problems, it’s time to start reconsidering how you manage your revenue cycle. When you work with CHRM you get individualized attention, timely reports, and the confidence that you are working with certified professionals who know how to get the job right. To get started, get in touch with us today for a free audit or to discuss any questions or concerns. We look forward to helping you increase your bottom line, improve your staff morale, and increase your quality of patient care.