Medical billing is a vital component of every medical practice, as accuracy is essential for fast and efficient operations. The process needs skilled professionals who can interpret and record medical details accurately and still maintain patient confidentiality. But why is the medical billing process so important?

Patient Care

Medical billing gathers information on diagnoses and treatment through alphanumeric codes. The information comes from different sources such as medical notes, lab results, transcriptions, and electronic records. The codes are then transferred to the medical billing system. The system makes it fast and easy to access patient information and add updates.

Compliance (Regulatory and Contractual)

Medical billing management is part of many federal and state guidelines. Health Insurance Portability and Accountability Act (HIPAA) is the most significant when it comes to compliance. HIPAA requires every medical practice to protect patient information. Also, insurance companies bind medical professionals by the use of contracts which include negotiated rates for specific treatments and procedures. An accurate medical billing process ensures medics comply with this contract.

Insurance Claims

The medical billing process is a necessary step when submitting medical claims to insurance companies. It indirectly has an impact on medical care, especially when it comes to insurance reimbursement. Physicians will have to list the underlying conditions and preconditions and provide it to insurance companies for reimbursement. It is not the best idea to leave your staff in charge of the medical billing process. Hiring a professional medical billing company is vital to avoid errors and increase profitability in your medical practice.

Keep Information Current

Medical billing helps to manage patient accounts and ensures that they stay up to date. It takes a lot of time and effort to look for patient accounts that are not well-maintained. Also, a lot of revenue can be lost as a result of mismanagement. A high-quality system makes updating patient information seem effortless.

Smooth Flow of Payments

Medical billing enables the smooth operation of payments. Medical billing companies need to know the different public and private insurance plan policies and medical regulations. Also, they should be able to follow up a claim, appeal submissions, adjust billing, post payments and manage collections. Effective management is vital for revenue flow in any practice.

Ultimately, it is essential to have accurate patient details to avoid getting into trouble with insurance companies. Hiring a reputable medical billing company like Advanced Reimbursement Solutions is crucial for effectiveness. Contact us today to book an appointment with a team member in Wilmington or Phoenix and get started.

The medical billing process is the process whereby a health service provider follows up on and submits a claim to an insurance provider for payment for any service rendered towards the patient. The health services rendered may include consultation, testing, procedure, or treatment. Despite the notion that the medical billing process is very complicated, it can be quite simple. Here are some simple steps to follow to ensure a quick and simple medical billing process.

Registration

The first step is to ensure that you register the patient. This step is easy for a return patient because their details are on file. However, when a new patient checks in, they should register and include any important information about their insurance. At this stage, it is important to ensure that any information that could be essential during a potential claim is captured.

Confirm Financial Responsibility

It is very important for a health service provider to confirm the financial responsibility. This means that it is essential to identify what services a particular insurance covers, as there are insurances that do not cover certain services rendered by a certain health service provider. Therefore, before rendering any services, ensure that you inform the patient that the insurance provider is not going to cover the procedures they have chosen.

Patient Check-In

When a patient checks in, he or she is required to confirm identity to the health service providers. If the patient is new, he or she will be given forms to register. If the patient is regular, confirming his or her identity is necessary by providing an ID, passport or driver’s license.

Patient Check-Out and Coding

During checkout, the medical report of the patient is sent to the medical coder. The medical coder will then put down information about the service rendered toward the patient and send this to the medical biller. This information may include the name of the provider, the name of the physician, the name of the patient, procedures, and services provided. Ensure that you use accurate CPT and HCPCS codes.

Entry of Charges

This is where the health service provider enters charges for all the services and procedures rendered to the patient in question.

Claim Submission

After the claim has been completed, it is then sent to the insurance payer for payment.

At Advanced Reimbursement Solutions in Wilmington and Phoenix, we facilitate medical reimbursements and have our very own claims program. We are capable of handling all stages of your medical claim. Contact us today to book an appointment and learn more about our process!

Although implementing an electronic health record (EHR) can significantly streamline communication and internal workflow within your practice, technology alone won’t be enough. Healthcare is going digital at a breakneck speed, and so many regulations continue to be rolled out. While most physicians prefer outsourcing technology, there are some things to consider when it comes to outsourcing the medical billing process. Before considering outsourcing, here are a few things you should know.

Benefits of Outsourcing the Medical Billing Process

Despite having a few limitations, outsourcing your medical billing process is a great move that can help you allocate your human and financial resources more efficiently. Here are four ways outsourcing can improve your practice.

1. Minimize administrative duties

By working with a reputable medical billing company, you’ll spend less time and money keeping your staff updated on medical coding changes, subsets, and modifiers. Also, your staff will spend less time preparing claims or keying in information for submission. This creates time for your physicians to focus on patients instead of trying to get pre-authorization from insurance companies.

2. Automate insurance verification

Most medical billing companies automate insurance verification. This enables you to save money you would otherwise spend on personnel in charge of insurance verification. In addition, you’ll have access to patient information such as their deductibles and eligibility for particular diseases or injuries.

3. Boost cash flow

Partnering with a trusted medical billing company can boost your revenue potential because you get paid fast, spend less when it comes to on-going training and spend less on staff. Ultimately, this reduces your operating costs while increasing revenue collected in your practice.

4. Enhance patient satisfaction

Outsourcing your medical billing process means you can spend more time with your patients, leading to you providing better quality care.

Contact Us

The healthcare environment continues to change rapidly, and finding ways to reduce costs and boost revenue cycle management is critical. Outsourcing your medical billing process can offer the best of both worlds. For more information, contact us today at Advanced Reimbursement Solutions in Phoenix or Wilmington and learn more about outsourcing medical billing.

Being a medical billing specialist comes with a lot of accountability. Medical billing in a medical practice deals with gaining information from every patient about their insurance coverage and keeping track of any procedures and diagnoses so that the insurance company can be billed accurately. This is perhaps the main reason why it is vital to work hand-in-hand with medical billing experts. Some medical practices may assume that they are in control of their medical billing process, but, in reality, they are not. Here is how a medical claim generally goes through in an office where medical billing is conducted:

1. Patient check-in

The very first step is a medical biller keying in the patient’s information, such as the demographic information, as well as insurance information.

2. Verification of insurance information

Verification of insurance eligibility and information is vital at each appointment, even with regular patients. The reason for this is that information changes over time. Insurance information changes may impact benefits, as well as authorization information.

3. Record the services received by the patients

A healthcare provider, such as a nurse or a doctor, examines the patient, then gives a diagnosis or provides any other services that are necessary. The healthcare professional then goes ahead to record the data obtained in the Patient’s Electronic Record.

4. Charge entry

This means charging patients for the services they have received. Charge entry includes suitable linkage of medical codes to procedures and functions given during the patient’s visit.

5. Submission of a claim

Right after the patient’s payments and codes have been submitted, the medical coder can generate an insurance claim, which is then tendered to the insurance company with which the patient is insured.

6. Receive and post-payment

This is the last step, and it involves a deposit, as well as posting functions. If the claim is submitted as it should be, the insurance company will send the payment to the medical practice, and the medical coder then posts the payments to the practice’s account. Medical coders are in charge of fixing claims submitted with errors and following up on late payments.

If you read through the list and noticed that your medical practice is not as prepared as you imagined, get in touch with us at Advanced Reimbursement Solutions so that we can help make your medical billing process better. Contact us in Wilmington or Phoenix today to get started.

The medical billing process can be a difficult element of any medical practice. The decision to outsource is important, but it doesn’t have to be difficult to make. In reality, it makes perfect sense to outsource the medical billing process for a number of reasons.

Industry-Specific Skills

Although plenty of practices still bill in-house, to run the process smoothly and efficiently takes skills specific to the field. Outsourcing this process to a company like Advanced Reimbursement Solutions (ARS) ensures the dedication of a skilled team focused on the increased profitability of the client company.

Focus

When medical providers bill in-house, as is the case in many establishments nationwide, they put extra pressure on the staff. As mentioned, the medical billing process should be handled by professionals. When the staff is overwhelmed with patient records and check-ins, it can become difficult for them to focus entirely on billing. And since it concerns the profitability of the practice, it’s an element that deserves focus.

More Control to the Provider

Contrary to popular belief, outsourcing the billing process gives more control than it takes. Putting it in the hands of professionals frees up time and money to be invested back into the practice, all working toward a better experience for the patient.

Red Tape and Regulations

Outsourcing means the provider doesn’t have to keep up with ever-expanding, ever-changing regulations. Regulations can be the most stressful aspect of medical billing. For a medical provider, billing in-house puts unnecessary stress on the owner, as well as the staff. Without the burden of staying up-to-date with every regulation and strip of red tape, medical providers can invest more time and money in other key areas of the practice.

Increased Cash Flow

The main focus is improving the bottom line. When the billing process is outsourced, not only do providers make more money, but they can get paid faster as well. Advanced Reimbursement Solutions uses a state-of-the-art claims program that handles the claims process every step of the way, from billing to redeterminations to recoupment.

Outsourcing the medical billing process relieves the staff of the burden of having to maintain these types of records. In many cases, the staff handling the billing process is simply not equipped with the knowledge or skills necessary. Considering the importance of profit and the bottom line in general, this process should not be left to chance. Providers deserve to be paid, and Advanced Reimbursement Solutions can help. Contact us in Wilmington or Phoenix today to get started!

As a medical provider, you do everything you can to provide the best care possible. Your focus is on your patients’ health, not the medical billing process. It only makes sense that health insurance claims would reimburse you fully for the work you do. Unfortunately, this doesn’t always happen. You need a team that is dedicated to making sure you are fairly compensated. At Advanced Reimbursement Solutions, that’s exactly our goal.

Who Are We?

The experts at ARS are committed to ensuring that medical professionals such as doctors, surgery centers, and physician assistants receive the reimbursement that would have otherwise been denied, postponed, or insufficiently paid.

Medical providers need to be compensated for the services they perform. When they aren’t, it’s suddenly much harder to pay for the centers and equipment they use every day. More often than not, this puts medical professionals into an awkward position in which they must confront their patients directly about payment. Nobody wants to be put in this position. It adds unnecessary friction between the doctor and the patient, especially when the relationship should be focused solely on healing.

Who Should Choose ARS?

Any healthcare provider or medical practice that has dealt with delays in reimbursement or incomplete payments can benefit from the services we provide at ARS. With our billing system, we deal with every area of the medical billing process, so you can focus on what matters: your patients.

With a system that has been specially designed to function seamlessly on the web, we have the unique advantage of being able to serve clients from any part of the country. When you choose to work with us, we’ll examine your practice or surgical center from every angle to figure out how we can help you receive the highest level of reimbursement in the timeliest manner. By increasing your overall profitability as a medical provider, you can focus your attention on helping your patients get better and making your practice grow and thrive.

Take the Stress Out of Medical Billing with ARS

Don’t let insurance claims keep you from getting the reimbursement you deserve. At Advanced Reimbursement Solutions in Wilmington and Phoenix, it’s our goal to make sure you are compensated on time and in full. We’ll stay with you every step of the way as we work to expedite the medical billing process for you. Contact us today to get started!