By outsourcing your revenue cycle management to a reputable and experienced medical billing service, you gain access to expert resources, methodology, and state of the art technology that come only with specialization and scale.
Here are four ways we can save you time and money:
Staying up to date on CPT codes
The sheer volume of changes to CPT codes is simply dizzying. Just a few years ago we transitioned from the ICD-9 classification database, which contained 14,315 diagnosis codes and 3,838 procedure codes. The new and improved ICD-10 database has 69,101 diagnosis codes and 71,957 procedure codes. Physicians must match the exact code to their services in order to get proper reimbursement, but few perfect matches from the one coding system to the other exist. There are often approximate equivalents, or even multiple matches. There is always a threat of decreased revenue due to incomplete or inaccurate documentation.
For those still adjusting to the ICD-10 system, there are also quarterly updates to integrate into your revenue cycle management. For 2018, so far there are 363 new codes, 142 deletions, and 226 code revisions.
Getting expert support from an experienced medical coding company is the best strategy to maximize compliance and avoid potential penalties. MBC Systems are experts at identifying discrepancies, contradictory statements, and documentation that could cause delays in reimbursement. We can also recommend appropriate coding opportunities to maximize your revenue.
Use the latest technology tools
At MBC Systems, we use a proprietary mix of human expertise and customized data intelligence. This means that when our technology partners can make revenue cycle management more efficient, we use those tools. When intricacies in the process require an experienced human, we have the best people in the business on the case.
To be frank: we are efficient, accurate, and fast. And we use data analytics to continuously find new patterns in our physicians’ data to increase revenue and efficiencies.
Most denials come from incorrect use of forms, authorizations, reporting, codes, and modifiers. We partner with physicians to make sure they have access to the most current resources available to stay up-to-date, with on-call specialists in every step in the revenue cycle management process available to answer questions anytime.
Follow through with collections
We’ll admit it–we’re relentless. Often doctors bill their patients once, and if bills are not paid, there is no system in place for timely follow up. Pass the burden of collections to us, and we will provide thorough, timely, and clear communication with your patients to minimize delays in your payment.
When payments come in, we get a copy of check and an EOB. Then we reconcile- was the bill paid according to the fee schedule? If there’s a discrepancy, we go after the difference.
When it comes to denials and appeals, we’ve got your back. We offer a comprehensive suite of services with an emphasis on Workers’ Compensation billing, collection, and hearing representation.
To learn how MBC Systems’ proprietary medical billing system and services can help your practice bill smart, use our contact form or call (949) 863-0022 to set up a one-on-one consultation.