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LAKE MARY, FL, April 20, 2022 /24-7PressRelease/ -- The most important entry point in any healthcare system is the family, medicine, and practice. But simultaneously, the shortage of physicians offering family practice is a concern. In fact, it must be noted that the higher compensation rates for specialities such as neurosurgery, radiology, and even dermatology are becoming more attractive avenues for practice as compared to Family Practice physicians.
Adding to this, Family Practice medical billing companies are in more demand than ever before especially in the situations when the health reforms are combining with the increase in the number of ageing baby boomers. Therefore, keeping the medical billing and coding up to date to ensure seamless revenue flow has become one of the essentials for the existing practices to keep flourishing.
What were the challenges faced by the Ohio-based Medical Billing Company that directed the company towards Info Hub?
Keeping in mind the need for 100% reimbursement to the family practice, a well renowned medical billing company based out of Ohio offered medical billing and A/R management solutions to family practices clinics. Though everything was going smoothly in the initial years, soon the company started facing immense challenges with the increase in the clientele base. The issues initiated with the increase in the billing errors along with the failure to get the claims successfully with every filing.
The list of challenges continues with the lack of staff efficiency despite putting all the efforts into moving ahead. As more and more clients started visiting the company, the staff lacked the skills to keep up with the billing system and failed to file thousands of claims weekly on time. This eventually resulted in the loss of revenue.
As said by George Williams (name changed for confidentiality), of Ohio-based Medical Billing Company, 'The lack of our staff's knowledge on updated family billing codes/multi-tasking skills and how to file documented medical bills led to failure in getting the reimbursement amount from the insurance companies.'
The Covid-19 crisis highlighted the value of detailed patient data for insurance providers. As a result, many insurance companies have raised their expectations for what they expect to know about a patient's condition and associated procedure. Unfortunately, these additional requirements demand additional helping hands of coders and billers, as we are unable to move forward without precise clinical documentation.
How is Info Hub helping the Ohio-based Medical Billing Company in boosting the revenue?
Out of the numerous offshoring options available, this Ohio-based medical billing company opted for Info Hub, an offshore medical billing company to boost the revenue with the assurance of 100% reimbursement. With the help of in-house billing and coding experts, Info Hub was able to offer to do a complete overhaul of the process on how to ensure a detailed collection procedure.
"We believe that the main reason our clients remain loyal to us is that we are more than just a medical billing company. We take pride in being a one-stop solution for all of your revenue cycle management solutions," notes Harisudan, Managing Partner of Info Hub.
Info Hub executed work for this Ohio-based Medical Billing Company by bringing in experts in the billing profession as the outsourced partner to ensure an end-to-end revenue cycle management process is in place. The experienced billers and coders placed a structured approach to help and manage their billing activities with their collection and the updated billing system, ensuring they receive payment on time.
"We should begin with the major global issue that requires the most innovative solutions, resulting in loss of dollars due to billing errors," states an RCM specialist of Info Hub.
The World Health Organization has already labelled this issue as "the last great unreduced health-care cost." Billing errors appear to waste an amount equal to 7% of global health expenditure, or $487 billion USD.
Simply educating the company's staff along with the automation of the medical billing operations helped the company in saving millions of dollars every single year. With so many clients' money being lost due to billing errors, smarter solutions with double-checking using manual verification that eliminates as much human error as possible are the answer.
The process continues with the teaching of staff to collect patients' information before the scheduled appointment and explaining to them the medical billing options. Regular and timely claims are made with follow-ups and understanding of the rejected claims, so the mistakes are not repeated anymore.
The other challenge faced by the company to keep up with the billing system is met by using the proper billing tools and moving from the legacy system to the latest billing tools and software. The idea is that the transition is an upheaval and costly process that often leads many to put it off until they feel its pain like Family Billing.
George, further added, 'The revamping done by Info Hub with their experts and by outsourcing the billing practice has improved the claim rate and lowered claim rejection significantly. He further adds, 'After a long time, our Company is experiencing profit from the billing with the help of Info Hub.'
About Info Hub
Info Hub is a leading offshore medical billing company offering a range of billing and revenue cycle management services with the latest technology to individual practices, hospitals, healthcare facilities, and medical institutions. They aim to offer affordable and round-the-clock services to help their clients to earn more revenue and flourish in their practice. They partner with their clients intending to improve their resources, creativity, and affordability with an assured positive outcome in their practices.
They pride on themselves for having 10+ years of knowledge in implementing the best resources for practice with reliable and experienced professionals.
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