Daljeet Sidhu offers the following royalty-free article for you to publish online or in print. Feel free to use this article in your newsletter, website, ezine, blog, or forum. ----------- PUBLICATION GUIDELINES - You have permission to publish this article for free providing the "About the Author" box is included in its entirety. - Do not post/reprint this article in any site or publication that contains hate, violence, porn, warez, or supports illegal activity. - Do not use this article in violation of the US CAN-SPAM Act. If sent by email, this article must be delivered to opt-in subscribers only. - If you publish this article in a format that supports linking, please ensure that all URLs and email addresses are active links. - Please send a copy of the publication, or an email indicating the URL to [email protected] - DistributeYourArticles (www.DistributeYourArticles.com) has distributed this article on behalf of the author. DistributeYourArticles does not own this article, please respect the author's copyright and publication guidelines. If you do not agree to these terms, please do not use this article. ----------- Article Title: Medical Billing - Top Tips on How to Make Outsourcing Successful For Your Practice Author: Daljeet Sidhu Category: Insurance, Business, Finance Word Count: 490 Keywords: medical billing, medical coding, outsource medical billing, medicare billing Author's Email Address: [email protected] Article Source: http://www.distributeyourarticles.com ------------------ ARTICLE START ------------------
Medical billing providers have turned around the revenues of many healthcare providers through effective application of technology and expertise. Some medical practitioners have increased their revenue by over 35% by hiring medical billing services. Medical billing companies maximize collection in shortest possible time. Most medical practices are wanting in their billing procedures, which is one of the main reasons insurance companies get the chance to deny or reject claims. Billing providers spruce up the entire revenue system from the time of patient appointments to receiving payments. Comprehensive solution Revenue cycle management refers to the complete overhaul of the medical provider's existing revenue system. Billing services include collection of claims and billing consulting services. The long-term objective of this service is to increase the efficiency and accountability of the entire cycle. The predictable outcome is timely and accurate submission of claims and increased cash flow. Revenue cycle management A medical practice's revenue cycle is its source of cash flow and its efficient management should be of the highest priority of medical practitioners, right behind patient care. Medical billing providers examine and improve the revenue cycle from the patient visit to collection of claims. They also examine other processes related to budgeting, resource utilization, financial planning, and so on. Patient data and related activities are tracked and recorded at every step in the revenue collection plan to ensure timely submission of accurate claims. Billing software services Medical billing providers leverage technology to optimize billing services. Revenue management applications have gone online with web-based applications that are user-friendly, accessible 24x7, HIPAA compliant, secure, customizable, and that support business intelligence. These applications make it possible to track data at every step. The application system is first fed the necessary data to make it work as per the business processes of that medical practice. Activities include: * authorizing services * determining and validating insurance coverage * assessing payment risks * scheduling resources Electronic medical records (EMR) technology enables medical practitioners to record information in a hand held device during a patient appointment. This data is synchronized with a central database ensuring accurate patient records in real-time. At the end of the patient's appointment, the automated billing software pulls the necessary details to prepare the claims for submission. The accurately filled claim is submitted to the insurance payer within a day. Electronic billing speeds up the billing process significantly, unlike the manual process of data entry and coding. Faster and accurate billing results in higher collection rates and increased revenue. Billing consulting services Medical Billing consulting services ensure the effective use of technology. The major function of medical billing companies is the implementation and management of the billing application and follow-up by: * updating software * supporting software * providing financial reporting and statistics * strategic assessment check-ins * negotiating with insurance companies * updating insurance forms * updating membership requirements Revenue cycle management includes collecting claims and improving the effectiveness of the process by bringing accuracy, accountability and timeliness to the process. Medical practitioners increase their revenue and the efficiency of their revenue management system by outsourcing billing services. Daljeet Sidhu http://www.tradeseam.com/smallbusiness/buying-guides/view-buying-guide/1199/Medical+Billing+Services http://www.tradeseam.com/smallbusiness/business-resources/get-free-quotes/1199/Medical+Billing+Services http://www.tradeseam.com/smallbusiness/leads/small-business-leads ------------------ ARTICLE END ------------------ [Non-text portions of this message have been removed]
