Medical billing offshore
Offshore medical billing companies provide medical billing and coding solutions as a combined service along with end to end Healthcare Revenue Cycle Management OR can be tailor made. Most of the physicians and medical billing companies struggle to manage cash flow due to the rising cost of healthcare, increased adoption of technology, prevalence of quality and performance based reimbursement models. Physicians are constantly stressed by denials resulting in low-pay and no-pay. With healthcare regulatory changes and reduced reimbursements it has become more important for the providers to look at running their practices efficiently.
Offshore medical billing companies provide widespread services to healthcare providers and medical billing companies at a competitive price form patient appointment scheduling, insurance eligibility verification,pre-authorization or pre certification verification, ICD 10 and CPT medical coding, demographic entry, charge entry, claims submission, payment posting, account receivables and management. Their agenda is to speed up the claims reimbursement process by sending in clean claim as per industry standard payer's requirements. They provide dedicated expertise to each client ensuring all claims are billed within 24 hours from the time patient registration information is received. Also, they set specific performance metrics for each phase of the revenue cycle management.
Offshore medical billing companies understand security measures are vital for success and survival of the business. So they take many actions to protect patient health information.Good offshore billing company facilities are completely monitored around the clock by security personals and with CCTV surveillances. Internet access is restricted, so it enables staff to only access business related websites.
Offshore medical billing companies set specific performance metrics for each phase of the revenue cycle management. In data processing each line item is considered a transaction. Productivity targets are set per full time employee per day. For data entries staff each line item or patient account entry is considered as a transaction. Performance based incentives are a common motivational technique followed by many companies. A target per day is set and staffs exceed targets are well recognized. In terms of accounts receivables follow up, target is set based on number of accounts followed up. Productivity targets are set based on the type of specialty.
In a nut shell, healthcare providers have started considering medical billing offshore companies to reduce their cost and increase their revenues.