Here at Comprehensive Healthcare Revenue Management (CHRM) we specialize in outsourced medical billing, coding, consultancy, auditing, and A/R services for healthcare facilities. We work with a variety of different facility types, including oncology, free-standing emergency services (FSER), physicians offices, hospitals, and orthopedic surgeries. While these various facilities may seem vastly different in terms of the services, professionals, and coding that they involve, they all have one thing in common — their revenue cycles have all been seriously impacted by COVID-19.
Like the rest of the world, the healthcare industry has been utterly upended by this year’s unexpected pandemic, and this, unsurprisingly, means major changes for healthcare revenue cycle management. In this blog post, we discuss four ways that COVID-19 is impacting healthcare revenue cycle management and provider finances, and how you can help your medical facility keep up. For the expertise, insight, guidance, and results that your facility requires during this uncertain time, turn to CHRM. Contact us now to get started.
Medical Billing During an Outbreak
Keeping medical facilities open during a pandemic is absolutely essential for controlling the spread of the virus. Unfortunately, however, quarantine and other preventative efforts mean that the healthcare facilities, like nearly every business in the economy, are currently having trouble keeping their doors open. Keeping your medical billing and coding up to speed during a virus outbreak is key to keeping your facility function for infected individuals requiring care. Yet this can be a challenge, especially for smaller facilities with limited cash on hand to respond to COVID-19 demands.
One way that you can meet this challenge head-on is by using an outsourced medical billing provider, such as CHRM. We take care of the time-consuming process of medical billing and coding for you so that you can get reimbursed faster to focus more on what matters most — your patients and staff. It’s likely that your staff members are already experiencing stress from the risk of contracting the infection; outsourcing your medical billing can help ease the burden on these essential frontline workers.
Increased Telehealth Services
Many healthcare facilities have started offering telehealth services to their patients in order to help control the spread of COVID-19. With this novel new form of healthcare practice comes new medical billing and coding requirements, as well as relaxed telehealth guidelines for insurance companies. At CHRM, our priority is helping healthcare facilities improve their patient care and bottom line through the use of outsourced medical billers and coders trained in the latest advances in the healthcare industry, such as telehealth. With outsourced medical billing and coding, you don’t have to worry about training your staff in complex, constantly changing guidelines for telehealth billing. Our staff will do the hard work for you.
Reimbursement for COVID-19 Testing and Treatment
Extensive, wide spreading testing for COVID-19 is essential for controlling the virus. In order to help, Medicare, Medicaid, and many other insurance providers are reimbursing their beneficiaries for coronavirus testing and treatment. Even uninsured patients now can file claims for reimbursement of COVID-19 testing and treatment. While reimbursement is great for the American public, it does make revenue cycle management more complicated for healthcare providers. With outsourced medical billing and coding, you no longer have to worry about untangling the web of complexities that come with reimbursed COVID-19 testing and treatment; instead, you can help your patients and America as a whole recover from this devastating pandemic.
Adapting to a Virtual Workforce
While some healthcare facilities have been reluctant to let administrative staff work from home due to a concern about decreased productivity and quality of work, others have embraced remote work as a way to help protect their employees. Although this is great for social distancing, it does make communication among coders, billers, and others working with your facility’s healthcare revenue cycle management difficult. When you outsource your medical billing and coding with CHRM, the need to manage and coordinate complex revenue cycle issues among dispersed staff is eliminated.
Keeping Your Frontline Workers Safe and Stress-Free With Outsourced Medical Billing
COVID-19 has brought complex challenges for healthcare workers. During this trying time, it is essential that you cater to your staff’s physical and mental health by reducing their administrative and emotional strain as much as possible. At CHRM, we love frontline workers and know just how essential they are to keeping this country safe. One way that you can help reduce the stress and increase the safety of your staff during COVID-19 is outsourcing your medical billing and coding with CHRM. Contact us now to get started.