It is very easy to find whether a physician or healthcare facility takes up medical billing services in-house or outsources them to medical billing companies. Guess how? If the denied claims are precisely managed and insurance & patient follow-ups are properly handled, then there is no doubt that a physician is outsourcing medical billing services. Now, it might be quite clear to you as to what happens to a physician or medical group that performs medical billing in-house. Their medical AR remains unchecked and uncollected for a long period of time, resulting in AR inflation. Let’s see how this situation is handled by medical billing companies.
Specialized Team: The main reason for claims getting rejected is poor medical billing done by in-house employees. However, medical billing companies have a specialized team who are adept in carrying out medical billing and collection operations accurately. Right from following up with patients and insurance companies to eliminating bad debts and collecting AR, this team takes care of everything, improving cash flow for the physicians.
Denial Management: Due to lack of expert knowledge on the healthcare reimbursement domain, many physicians fail to check denied claims and resubmit them. Also, not posting the co-pays, deductibles and patient payments results in AR that is highly inflated. These are the main reasons for AR inflation. Is your AR inflated? If yes, simply outsource medical billing to a reliable medical billing company like MGSI. Such a company will not only find the root cause for claims rejection and resolve the problems, but also send them back to insurance companies for appeal.
Old AR Recovery: AR aging when goes unchecked, can have a serious impact on the regular cash flow. Having unresolved and unpaid ARs accumulated in your organization can be a huge setback even though your current payment processing is streamlined and perfect. Therefore, it is highly essential that you clean up old ARs. Doing it in-house can again be a bad decision, so outsource medical billing and collections to medical billing companies.
No matter how inflated your AR is, MGSI will provide impeccable medical billing services to clean up old ARs and streamline the current payment processing!
A good medical billing and coding company must provide all the above mentioned benefits apart from providing the best services! MGSI, a company with 20 years of service based in Tampa, Florida, is one such company that renders high-quality medical billing services to its clients.
Is your AR Inflated?