While your “long game” goal as a specialty healthcare facility is to provide high-quality care to your patients. You need to master your revenue cycle management in order to keep positive cash flow so that you can continue to provide the state-of-the-art technology and quality services you desire within your medical practice.
When medical billing errors occur, you are not only causing billing issues with your patients, you are also causing hazards in the cash flow of your medical practice that can get your practice in the weeds. Here’s why you may want to consider outsourcing your medical billing.
The Masters of Outsourcing Your Medical Billing
Did you know that more than 51% of patients owe their physician at least $1000? Could you imagine what your medical practice could provide to your patients if your cash flow remained in the black month after month? New modalities? A better nurse to patient ratio? The benefits would be endless!
This is why it is important to make your medical billing department a priority—even if that means outsourcing your medical billing!
New Medical Codes Are Par For The Course
As a medical coder, there are three sets of medical codes you need to know:
- ICD codes
- CPT codes
- HCPCS codes
Within the aforementioned three sets, there are a number of medical codes, that may be updated and can change quarterly or annually, which can cause confusion if you do not have a knowledgeable and experienced team in place who is constantly staying up-to-date on medical code changes and fully comprehending what each code means.
At MEREM Healthcare Solutions, our medical coders are certified by the American Academy of Professional Coders (AAPC). We even have an AAPC-certified instructor on staff to provide on-going training to our knowledgeable and experienced team of medical coders to ensure we are always aware of coding changes in the medical billing industry so that claims go out with errors.
When a medical billing error occurs, it can contribute to a number of issues within your medical practice.
The Hazards Behind Medical Billing Errors
First, it can cause issues with your patient’s insurance. When an incorrect code appears on a patient’s bill, it can over or undercharge them. If the error is found, when re-filing the bill with a new code, it can cause the patient’s insurance company to reject the new bill, which makes it more difficult for you to get the money you are owed.
Second, it can cause a concern of fraud when incorrect codes are placed on a patient’s chart that shouldn’t be there. As a result, it can put a “red flag” on your medical practice to where you are audited more frequently than usual.
Fortunately, with the right medical billing team behind your medical practice, these two issues never have to come into play. When it comes to outsourcing your medical billing, you can have full confidence that the job is being done right when choosing MEREM Healthcare Solutions for help!
Discover how our team at MEREM Healthcare Solutions in Birmingham, AL, can help your medical practice avoid and/or prepare for a CMS audit.
Merem Healthcare Solutions offers services for every step in a practice’s revenue cycle management. We can start from the beginning from credentialing and end with payment posting once an account has been satisfied. We offer a wide range of solutions which include auditing, billing, coding, consulting, credentialing, payment posting, practice management, and pre-collections training. Check us out on our website or feel free to call us to see how we can help run your practice like a well-oiled machine – (205) 329-7519.