123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Health >> View Article

4 (medical Billing Techniques) That Can Assist Your Practice

Profile Picture
By Author: Lauren Lau
Total Articles: 2
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Medical Billing Techniques that Can Be Installed to Help Your Medical Practice

Health care providers should periodically review their financials and revenue cycle, so that they can take corrective measures at the earliest if required. A great deal of medical offices / health care providers find that medical billing is one area which could be drastically improved. Using the latest billing techniques, a provider’s efficiency and efficacy rates will increase. Data shows, there’s been an exponential increase in medical costs over the last few years. Hence, patients expect health care providers to be more transparent while calculating payment(s). Additionally, patients want more options for making payment(s). Therefore, the medical service provider has to consider multiple factors while billing. Fortunately, there are some new medical billing trends which simplify the process of collecting patient payments.

Automation
Many healthcare providers prefer automation, since it helps reduce costs and it’s more convenient for the patient. Using an automated billing system reduces effort, saves time and eliminates ...
... many human errors. Additionally, it’s easier for the patient to understand the billing. While some patients may require more information about how they are being billed, data suggests most health care provider staffs and their patients are quite satisfied when medical billing protocol(s) are streamlined and automated.

Using Registry or EHR for Payment Incentive under MIPS
Under the medicare system of payment adjustment, eligible clinicians may get a payment bonus, payment penalty or no adjustment of payment under the Merit-based Incentive Payment System (MIPS) program. Healthcare providers can choose from different methods for reporting to MIPS, with Electronic Health Records (EHR) and registries being the most popular methods. EHR has the patients medical information in digital format, while the registry has more comprehensive analytics information and is designed for submission to MIPS. Each of these options have their own disadvantages and advantages. Hence, the health care provider should compare each option carefully before finding the most suitable option based on the requirements of their organization.

Using Improved AI
Worldwide, Artificial Intelligence (AI) technology is being extensively developed and the number of applications using the technology are increasing rapidly. In the medical sector, professionals have found this technology to be extremely useful and can be used holistically. Some health care companies and providers have started using AI for coding and billing applications, since AI can be used for extracting specific data patterns and sets. Other organizations have found that AI to be useful in collecting patient payments.

Comparing Outsourcing and In-House Billing
Although many large medical providers perform their own medical billing (in-house), it makes more sense for new or small to mid-sized medical practices to outsource. Small to mid-sized providers realize that billing is extremely labor intensive, yet a very crucial part of their business model and revenue cycle. It’s been our vast experience that medical practices should focus on providing health care services to their patients and leave the billing to experts. Qualified medical billing groups ensure billing accuracy and speed and are well trained, with experience.

Total Views: 85Word Count: 492See All articles From Author

Add Comment

Health Articles

1. Best 5 Diets For Heart Disease Suggested By Dietitian
Author: Rachel Blindauer

2. Hire Confinement Lady
Author: Brian Jones

3. Disability Home Care Services And Daily Personal Activities Brisbane Apply To All Disabled Individuals
Author: vikram kumar

4. Top 5 Ehr's For Dme Billing
Author: Danny Johnsmith

5. Top 4 Signs Of Malocclusion In Children
Author: Gardner Smiles

6. Clear Aligners A Clear Substitute For Braces
Author: Essence Dental

7. What Does A General Dentist Do?
Author: Allwyn Dental

8. Hba1c Test For Diabetes Patients
Author: Suborna Fermi

9. Biofeedback Training For Mental Health Disorders
Author: Harry Campbell

10. Air And Train Ambulance Services In Singapore | Limra Ambulance
Author: Limra Ambulance

11. Are There Ndis Personal Care And Community Nursing Care Ndis Services In Brisbane?
Author: vikram kumar

12. 4 Safety Aids For Your Toilets
Author: Derry Hall

13. Leaky Gut Treatment In Gurgaon | Leaky Gut Treatment In India
Author: Dr Kalpana Gupta Sekhawat

14. Does Ndis Cover All Disability Care Support In Brisbane?
Author: vikram kumar

15. Sepsis: Epidemiology And Diagnosis
Author: Central BioHub

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: