Why Your Medical Practice Should Outsource Medical Billing
It’s 8 am and your phone is ringing off the hook. It’s the height of flu season, and it seems everyone wants in to see their physician today. Scheduling patients, collecting healthcare information and HIPPA forms at check-in, seeing patients, checking patients out, and preparing the rooms.
It’s 8 am and your schedule is full of oncology patients. Some are in for treatments. Some are here for second opinions. Some are
here for diagnoses. Some are hoping for remission. You’re day is full.
It’s 9 pm on a Friday. You have an emergency room full of patients. One patient is in serious condition after a car accident. Another patient broke his arm jumping on a trampoline. One patient has a foot infection and is having trouble walking. Another patient is sick and his family doctor’s office is closed.
The list goes on and on.
The last thing a busy, successful medical practice, hospital, or Free Standing Emergency Department needs is the headaches of medical billing. Medical billing could be considered an art form all of itself. Hard to teach and easy to mess up, medical billing can be a challenge–a challenge your medical practice might not want to take on.
WHAT IS MEDICAL BILLING?
Medical billing, otherwise known as revenue cycle management (RCM), is the process of billing insurance companies for services rendered by a physician or medical practice. The process requires all services to be coded in order to be submitted. As you can imagine with the variety of services and conditions patients could have, this is an immensely complicated coding system. You can blame England for this.
Medical coding is older than the Palace of Versailles. Originating in the 17th century from a coding system designed to track how people died and from what in London, numerical codes were created and assigned for various deaths. The intent was to track the most recurrent causes of death. This was the beginning of the world-wide tracking of mortality rates in nations.
In 1977, the world decided to jump on board this tracking of how people died but wanted to add one more variable: the frequency of medical diagnoses, including illnesses and injuries. This made the categorization of medical records possible and offered up valuable information and insights into medical care across the globe.
Today, the medical coding system in use has over 68,000 codes with more and more being added every year. In 2017, over 3,000 codes were added.
As most medical practitioners know, it’s imperative to stay abreast of the changes in medical billing services. Mistakes cause delays in payment, which can wreak havoc on a small business practice or even a larger institution that has to track re-submissions. Outsourcing your medical billing services to a company such as Comprehensive Healthcare Revenue Management whose sole specialty is healthcare revenue cycle management takes the stress off your plate, so you can focus on your patients.
Because of the constant changes to medical billing, Comprehensive Healthcare Revenue Management has chosen to specialize even more. We have four departments we serve: Oncology, Free Standing Emergency Services, physician billing, and hospital billing.
The field of oncology is a big one, and most of the time, it’s a challenging field. Diagnosing cancer and treating cancer is not only hard on the cancer patients, but it’s just as hard on the oncologists and their staff. Patient care is paramount for a patient’s frame of mind and ultimate health. Most oncologists devote as much energy and resources as possible to serving the patients needs and making them comfortable, especially in terminal situations.
Comprehensive Healthcare Revenue Management’s mission is to take the burden of medical billing from the oncologist, stay abreast of continued education ofour staff to minimize mistakes, and employ data analysis to review and identify trends in medical denials. We employ staff who are experts in the revenue cycle management of the services oncologists offer. Our tracking system and software helps us to document paperwork from both your office and the insurance providers.
We here at Comprehensive Healthcare Revenue Management strive to know all of our clients personally through exemplary customer service. We’re here to answer any question you (or a patient) may have and to offer support and training for you staff as well to ensure proper medical billing. We strive to find the balance of an involved and caring organization, yet one who is self-sufficient and reliable, so you spend less time with us and more time with your patients.
FREE STANDING EMERGENCY SERVICES BILLING
One of the fastest growing trends in healthcare services is the popularity and demand for Freestanding Emergency Departments (FSEDs). Like most businesses, FSEDs were created to fill a need: the lack of a hospitals in rural areas. Beginning in the 1970s, the idea behind FSEDs was to offer emergency care at a more affordable price by being smaller in scale than hospitals. The savings was so significant that the idea caught on in suburbia where the demand for emergency care 24/7 exploded.
Another way to think of Freestanding Emergency Departments is to picture a miniature hospital. FSEDs are required to have at least one emergency physician on duty, an emergency nurse, lab and radiology technicians, and blood-testing and X-ray capabilities. FSEDs need to be able to care for all major medical emergencies from heart attacks to a bump to the head from a simple fall. Most of the patients of FSEDs are walk-in patients and very few admissions require an overnight stay.
The growth has mainly been in states where FSEDs face less regulations–Texas, Colorado, and Arizona. The regulations pertain to limiting healthcare options for the sake of service redundancy, which, in essence, is limiting the free market system as this limits competition and protects existing facilities.
FSEDs are independently owned and are for-profit. Most cannot accept Medicare or Medicaid because they aren’t affiliated with a larger hospital.
Being on the newer side of healthcare offerings, medical billing and coding can be a challenge for FSEDs who are regulated differently than major hospitals. Comprehensive Healthcare Revenue Management has years of experience helping FSEDs navigate their state’s laws and regulations. Realizing the unique medical revenue cycle management needs of a FSED, Comprehensive Healthcare Revenue Management stresses customer service, transparency, and education of your staff.
We also employ the best data analytics tools to analyze the Free Standing Emergency Department’s claim rejections and denials. With a smaller staff but a busy revolving door of patients, FSEDs have enough to worry about. We strive to stay on top of any medical billing hiccups and maximize efficiency. You don’t have to worry about medical billing services with Comprehensive Healthcare Revenue Management.
No day is the same definitely applies to the physician’s practice. It seems everyone has a need: well-child checks, sports physicals, a nagging cough, stitches, the flu, and infections. And that’s just the first two hours of the day.
Being a physician demands a lot. You have to be an incredible multi-tasker who possesses a wealth of knowledge that can be applied every day. You’re amazing at puzzles since every patient is an unknown with symptoms needing to be put together and problems needed to be solved. You squeeze in patients. You spend extra time answering questions. You ask about the family. You care.
At the end of the day, medical billing is the last thing you want to think about. You want to go home to your family, hobbies, pets, and relaxation. Vacation is coming up, and you need to make travel arrangements. The gym is calling and self-care is much overdo.
Comprehensive Healthcare Revenue Management understands the value of the physician’s time, and we want to do everything we can to maximize your practice, so you can continue to offer excellent care, facilities, and treatments for your practice. Family medicine traditionally has some of the highest denial rates. Our denial management practices are excellent at detecting why medical insurance claims are denied, and rectifying our processes to eliminate those mistakes going forward.
By handing all your medical revenue cycle needs, Comprehensive Healthcare Revenue Management promises to analyze your denial claims, process all claims promptly and efficiently, and stay abreast of all the changes in medical billing and healthcare laws as they occur. Our job is to make your job easier. We are available during normal business hours during the week to answer any of your questions or your patients’ questions. We offer training for your staff and a free one-time audit of your costs doing medical revenue cycle management or outsourcing medical billing.
Comprehensive Healthcare Revenue Management serves physician groups, solo practices, and independent practice associations (IPA’s). We’re here for you. We support you as you strive to offer the best healthcare possible. Contact us today!
Hospitals are like shopping malls: you go there for something specific and leave with extras. And during the holidays, this can be a lot of extras! A whole different animal due to the sheer volume of patients and services offered, hospital billing can be more complicated than a corn maze.
Comprehensive Healthcare Revenue Management serves physician groups, solo practices, and independent practice associations (IPA’s). We’re here to help you navigate the complicated world of medical billing services without getting inexplicably turned around, lost, and needing rescuing. We offer stellar customer service and training to your staff to ensure diagnosis and treatment records are submitted correctly to us. Then we will create a billing record and submit it to insurance. After the insurance company reviews your claim we’ll handle the collecting and remittance of payment to you.
Revenue cycle management (RCM) can determine a hospital’s profitability and our goal is to have a quick turnaround in collection and payment of services rendered. We are experts in the hospital billing services processes and work with all insurance companies to process claims on a timely basis. Comprehensive Healthcare Revenue Management promises transparency, honesty, integrity, and excellence in all that we do every day.
Working in a hospital can be exciting, challenging, and, at times, heartbreaking. You have enough to do managing patients, facilities, new hires, and other monotonous tasks like paying the electric bill, hiring a lawn care service, getting the low-hanging tree trimmed, and verifying that the dog that just walked by is indeed a service dog or a therapy dog. Let Comprehensive Healthcare Revenue Management handle your hospital’s RCM’s processes. Reach out to us today to begin!
OUR EXPERIENCE WITH SPINAL SURGEONS
Comprehensive Healthcare Revenue Management has been working closely with the revenue management cycles of spinal surgeons. Spinal surgeons are not a speciality in and of themselves. A physician must train as either a neurosurgeon or orthopedic surgeon primarily. Then with additional specialized training, this surgeon can treat various spine conditions. Being so specialized, we recognize the advantage in having experience medical billing and coders to ensure proper RCM time frames and efficiencies. If you’re a spinal surgeon interested in outsourcing your medical billing services, contact us today.
ADVANTAGES TO OUTSOURCING MEDICAL BILLING
- Frees up time for you to focus on what matters most: your patients
- Saves you time and money in the long run by letting experts solely focus all their energy into medical billing and coding
- Improves cash flow as claims aren’t forgotten and are processed as soon as possible
- Improves patients’ mindset and customer satisfaction. People are finicky, especially when it comes to their money. Having someone else handle the money aspect gives patients a better view of their provider
- We promised to utilize data analysis tools to cut down on claim rejections and denied claims. We’ll improve your denial rate, which results in huge savings for your practice
- Our staff are experts in the medical billing and revenue cycle management processes with years of experience. We constantly reevaluate and update our software to provide you with better medical billing services, and train our staff on these changes
- We stay abreast of the healthcare laws and policy changes as well as changes by the insurance company to their billing practices, so you’re revenue cycle management is not disrupted
- Improved compliance with these laws and existing laws
THE COMPREHENSIVE HEALTHCARE REVENUE MANAGEMENT DIFFERENCE
- Transparency. CHRM gives you access to your data anytime you want it. If you leave our medical billing service and go to another, your data goes with you. We don’t hide costs and check in with you frequently in terms of customer service, reporting questions, or client service feedback. We’re here for you always.
- Honesty. From the moment you reach out to us till the moment you end your medical billing services with us, we pledge honesty and fairness. We offer every new client a one-time free audit of their medical billing services to determine if we will save them money or not. If we won’t, we won’t try to convince you otherwise. We strive for happy clients, and you won’t be happy if you’re wasting your money on us.
- Integrity. CHRM pledges to do the right thing no matter what. We comply with all rules and regulations for your state, and we don’t cut corners. We apply integrity in all aspects of our processes, which trickles down to your patients and their needs and wants.
- Excellence. You get our best every day. We want to come alongside and support you in all your medical billing needs. Our goal is to be your partner in serving your patients, so you can focus on diagnosis, and the patient can focus on healing and wellness.
OUR FINAL PROMISE
At the end of the day, Comprehensive Healthcare Revenue Management is in the people business. Sure, we push papers around, enter a lot of data, run some analysis, pull reports, talk to customers, answer questions, and manage the whole revenue billing cycle process. On the outside, this is as boring as watching a worm crawl.
But the end result is the health of the patient–both physically and mentally. Without worrying about insurance claims, a patient can sleep at night and get the treatments they need. Without worrying about erroneous charges, the patient can feel confident in seeing a physician or a hospital when they need. A patient shouldn’t be afraid to go to the hospital or the physician’s office because of medical billing issues.
Comprehensive Healthcare Revenue Management offers peace of mind, a precious commodity that’s hard to find these days. Contact us with all of your medical revenue cycle needs today!