Medical Billing Company In Sacramento
California healthcare providers have a tremendous duty to maintain current training for coding and billing compliance, across all types of payers and insurance companies. While this is necessary, is it always possible? Unfortunately not. On top of that, when your practice uses internal employees and office staff for coding and billing work, it only increases that burden by adding hiring and initial training to the agenda.
One of the most popular ways to manage these hassles is to partner with a local company that specializes in medical billing in Sacramento to help manage your billing and coding needs. This method is popular for a long list of reasons, and while we can’t list them all here, we can give you a solid idea of how outsourcing your coding and billing can free up some of your time and energy for treating actual patients. All this, while keeping your billing errors low and your payment integrity high.
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Benefits Of Outsourcing Medical Billing In Sacramento
Increase In Revenue
One of the first things you’ll notice in the first month or two after partnering with a medical billing company is that the revenue for your practice will likely increase. This is important, primarily for smaller practices where revenue is crucial. Some practices have revenue generation that eventually stagnates, and this is likely due to rejected claims or late payments. Your coding and billing partner will ensure that claims are submitted error-free and that late payments are tracked so no revenue is lost.
Consistent Industry Compliance
Proper coding and billing are vital to get claims paid and making sure that all claims are accurate there needs to be an enormous amount of training, compliance, and industry familiarity in your coding and billing staff. The burden on small practices to meet these compliance standards can often be too challenging, but a billing company invests significant sums of money into training their staff to be up to date in all respects before handling your accounts.
Smoother & More Efficient Workflow
When your staff doesn’t have to worry about administrative work like billing and coding, they are able to focus more fully on their medical duties. This results in a much more efficient workflow across the entire practice because your staff is less distracted by things that may not even technically be their responsibility.
Greater Technical Abilities
One of the biggest reasons why partnering with a coding and medical billing company results in increased revenue is that they are only going to employ industry experts, so you can be confident in their technical ability. They will be able to manage secure systems across multiple networks without compromising or violating HIPAA compliance, as well as reduce delayed payments and claim rejections due to human error. This can lead to an overall faster workflow, with less bottlenecking, and easily isolated points of error.
You’re Kept In The Loop
It can be difficult to be a physician and keep current on all of the billing issues and claim delays that your office staff encounters. With a billing company, however, you can receive instant updates and reports detailing your practice’s claims status and revenue levels. This keeps you competitive even if you’re a small, one-physician practice.
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Running A Practice While Practicing Can Be Challenging
If you are a physician that owns a practice or works in unison with partner physicians in a small or medium-sized practice, you probably understand how difficult it is to juggle practicing medicine and delivering an exceptional level of care for your patients with managing and operating a business. On top of that, just like any other business, a healthcare practice should be profitable, but sometimes profitability is challenging to maintain while filling your days with patients and other clerical and administrative duties.
Countless other small and medium practice owners or partners have found that working with a practice management company takes a significant burden off of their shoulders. The purpose of the practice management company is to manage many of the traditional day-to-day operations of the practice, as well as help out or completely handle components of the administrative, clerical, billing, and coding tasks that are often handled by office staff when they have time.
These companies are able to provide significant value to many healthcare practitioners, as well as to their practice itself. With relative ease, a capable practice management company can boost the efficiency of the practice, along with its overall effectiveness. They can help determine and adjust operational expenses and budgets, help with bookkeeping, and manage most aspects of the coding and billing process. A good practice management company will also perform collections for late payments to maximize the revenue capabilities of the practice.
How Health Practice Management Can Benefit You
It’s worth noting that the greatest benefits and largest degrees of improvement are generally seen in small to medium-sized healthcare facilities. What follows are some of the most common benefits that a practice management company can bring, but depending on your particular practice and its needs, you may notice additional or entirely different benefits.
It’s well known that smaller practices often have challenges with patient scheduling and keeping the appointment books full but not overbooked. Your practice management partner will be able to help manage the booking, verification, and subsequent confirmation of patient appointments with more speed and accuracy than your office staff can. They will generally use a dynamic and adaptive scheduling system that can help automate many of the scheduling tasks and ensure that the appointment revenue is maximized.
Claims & Billing Process Improvements
A practice management partner can also help bring significant improvements to your existing coding and billing framework. They can help increase the efficiency of the entire process, even pre-generating claims in some situations, to save time during appointments. They will also be committed to ensuring that your billing and claims submissions are accurate so that the money and time that rejection and resubmission costs can be reduced.
The billing cycles themselves can be considerably shortened as well. A good management company will use comprehensive reporting to track late and rejected claims and payments, from both payers and patients. The practice can be automatically notified when payments are late so that follow-ups can be made. There will also be fewer rejected claims as well since the associates will be trained on the most current regulatory requirements, compliance standards, and coding conventions.
When you work with a practice management partner, you expect a certain level of performance, and that performance is tracked by certain metrics or KPIs. Your management partner will use these metrics along with comprehensive reporting to help keep you updated at all times about how your practice is performing. You’ll know how your business is doing now, as well as over longer timelines, so you have insight into long-term revenue and patient stats, along with countless other measurements.
Acme Billing Solutions Can Be Your Billing Partner
If you need a local partner for practice management and medical billing in Sacramento, Acme Billing Solutions is one of the leading claims and billing firms in the state. We’ll make sure your practice sees a dramatic reduction in claim rejections, and a more consistent revenue stream. Reach out today for more information.
Find out why Acme Billing is the right partner for your healthcare business. Call and get a free assessment: 1.888.909.8055