Is your Billing taking a Holiday?

Posted by mgsionline on November 1st, 2013

People in the US are all set for the holiday mood in the next couple of months with Halloween, Thanksgiving, Christmas and New Year. The fun involved in shopping, catching-up with friends, and planning family getaways is endless during this holiday season. Frazzled by tedious work schedules all through the year, Providers and medical billing staff look forward to this festive season for spending a lovely vacation with their family. However, there is one drawback! As Providers and medical claims billing staff take a break, the billing process gets stuck abruptly. The consequence of this scenario is that the normal revenue cycle management gets seriously impacted. Let’s see how crucial it is to keep physician billing process running during the holiday season:

Handling Old AR Pileup: Healthcare Providers and Facilities still have a tough time handling the accumulated medical AR apart from billing the current claims. In this scenario, just imagine if the medical billing staff goes on a vacation. It not only affects the current physician billing functions, but also delays the AR follow-up process because by the time the billing staff returns from vacation, it becomes too complex to handle. End of the day, it is the Provider who suffers from a big revenue loss.

Revolutionary Healthcare Changes: The healthcare industry has witnessed a lot of radical changes in the past decade and especially this past year as a result of the Affordable Care Act. The HIPAA 5010 Migration had urged Providers to get adapted to the new translation and mapping techniques. In addition, the ICD 10 Code set, which is expected to start Oct, 2014, has a completely different arrangement that will require extensive training before handling medical claims billing. From software upgrades and staff training to super bill and reimbursement pattern changes, these new regulations will require Providers to have ample time to get adapted.

The HHS sequestration cuts and payment model changes have added to the existing complexities. Now, these changes have already delayed the current physician billing process, without the billing staff even going on a vacation! Obviously, it will affect the medical claims billing of the Provider during the holiday season.

The Outsourcing Solution: The Providers and medical billing staffdo requirea break from their tiresome work schedules. To keep the medical claims billing process going without a hitch during the holiday season; outsourcing would be the best option. By outsourcing to a reliable medical billing company, Providers will be free from training their staff, upgrading software systems, handling complex documentations, and more. The billed claims reach the Payer on time and reimbursements are on schedule, keeping the cash flow steady.

About MGSI:

This holiday season, Providers can go on a vacation by outsourcing to the most reliable medical billing company in the US – MGSI. Based in Florida, this national physician billing company keeps the claims billing error-free, follows up with AR precisely, and do much more to keep the normal cash flow unhindered. With more than 20 years of experience in the domain, it has earned the goodwill of several clients across the US. For more details, log on to www.mgsionline.com