ICD-10 and how it impacts YOUR medical billing process !
Posted on March 11th, 2017 / Under Uncategorized / With No Comments
ICD-10 and how it impacts YOUR medical billing
if youre not an expert on it, it could delay your payments and require painful re-submissions
The medical billing industry has changed drastically in the past few years. In October 2015, the updated ICD-10 came into effect. The ICD-10 is also used to code and classify mortality data from death certificates. Whilst many improvements in the codification of mortality was made in the ICD-10 over the ICD-9, it also comes with a massive increase in complexity. The update includes a further 50 000 medical DX codes (up to 70 000 from less than 20 000). Doctors and billers need to be far more precise with their diagnostic codes in the update. On top of this, estimated time to code 1 patient has increased 69% with ICD-10 (because of this increased complexity). This means that in house billers need to work faster to achieve the same results.
The issue is that this increased in complexity makes the process far harder to follow. The ICD-10 is draped in fresh red tape and unless you are an expert, it could delay payments and require painful resubmissions. Outsourcing your medical billing to OneSourceMedicalbilling can alleviate you from this stress. With us, you know you are getting experienced staff with years of experience and multiple clients. They are experts at mediating the highly complex ICD-10 to decrease resubmissions and delayed payments.
ICD-10 has profoundly impacted the medical billing community by increasing complexity. This has caused in house billing to suffer a number of issues. Errors in coding have gone up and time to code has also increased. Overall this has caused decreased revenues and increased payment times for many healthcare providers. Switching to an outsourced solution can fix these issues. Our team of experts are fast and make fewer mistakes. Contact OneSourceMedicalBilling for a quote now.Read More...
Our expertise and knowledge of constantly changing guidelines
Posted on February 6th, 2017 / Under Uncategorized / With No Comments
Our expertise and knowledge of constantly changing guidelines and insurance submission, help you get paid faster, minimize re-submissions, boost revenues and decrease labor costs.
In the past few years, the red tape and guidelines surrounding the medical billing industry has increased exponentially. In 2015, the ICD-10 was updated to including a further 50 000 medical DX codes. This complexity makes in-house medical billing increasingly difficult. Many of our clients complain that when they were using an in-house solution, resubmissions were common and insurance submission mistakes plentiful. All of this influences one thing – your revenue stream. Mistakes and resubmissions equal longer payment times and a troubling cash flow.
Outsourcing your medical billing can provide a quick and easy solution to this issue. Our experts work with multiple different clients and have a wealth of experience on the changing guidelines. This means they are excellent at payment submission and follow up with non-payers aggressively. Their mistake free, hard work can drastically improve payment times for you. This results in improved revenue, allowing you to spend more time on the important parts of your business and stop worrying about medical billing.
On top of this, outsourcing means you don’t have to worry about hiring and firing in-house medical billers. Knowing which staff are experienced enough to understand the guidelines when you yourself do not. It is not an easy job and many healthcare providers find that their in-house billing department is slow and inefficient. At OneSourceMedicalBilling.com all we do is medical billing and our employees are experts at navigating the red tape. On top of this, Labor costs are significantly reduced with an outsourced solution. You need not worry about pay raises, insurance and benefits for staff. Instead, you get an expert team of billers whose only goal is to improve your revenue stream.
If you find the changing guidelines troubling, or simply want to decrease payment times and increased revenue get in contact with OneSourceMedicalBilling.com now to speak with an advisor. Our team knows the red tape inside out, and could drastically improve your payment times. An outsourced solution can also save you a ton of money in labor costs.Read More...
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