Everyone wants to get paid for the work he does as it is very important. Most people are usually paid on the spot for their services like an electronics or appliance repair or an oil change. But healthcare is a different story, and a detain on payments for medical services may put financial stress on your practice. You need professional medical biller for your practice to take care of your revenue.
Being a healthcare provider, you might imagine the chances and opportunities you can avail yourself of while on a large practice with your professional billers. The small practices may miss out on such types of advantages because of payment delays and other mistakes. Here is the question of how a small practice avoids these delays and mistakes. The answer is very simple: by hiring a medical billing specialist, one can avoid all such issues.
Responsibilities of Medical Biller
A medical biller takes the coded transcript of the patient that visits and inputs that information into some special software. Then this information is submitted to the insurance company of the patient as a claim. As the insurance company pays its portion, the remaining dues are billed to the patient. The copayments and deductibles, if found any, are figured into this revised amount given to the patient. Because within medical coding, accuracy is something very important in medical billing.
Medical billers make sure to send the patient’s information to the insurance company. At last, they send revised invoice to the patients.
Along with it, a medical biller plays a very important role in the relationship between medical providers, patients, and insurance companies. However, the medical biller is not responsible for the patient’s care; he must have a good understanding of medical terms and terminologies. This understanding is for being able to discuss medical bills thoroughly with both patients and insurance companies.
Duties of Medical Billing Experts
Now we are going to highlight some of the main duties of a professional medical biller:
- Audit and submit claims to the insurance companies for the treatments and further procedures of the patient.
- Verify the eligibility and benefits of patients’ insurance.
- Check the payments for accuracy.
- Get the insurance referrals and pre-authorization for the patient’s procedure.
- Review or double-check the patient’s bills for accuracy and to fill in any missing information.
- Set up various payment plans for the patients.
- Answer the phone inquiries or queries from insurance companies and patients.
- Thoroughly understand the insurance guidelines that may include Medicare, Medicaid, and HMO/PPO.
- Use the medical billing software to perform the job duties well.
- Collect lawless accounts.
- Research and appeals denied insurance claims.
- Know Fair Debt Collection Practices.
- Update the software with rate alterations.
- Talk with the insurance companies about the payment inconsistencies.
Being a medical biller, one may not perform each of the duties mentioned above. But all of these are the responsibilities of one’s job, and he may do it for you.
Reasons to Hire a professional Medical Biller
Regardless of the services mentioned above that medical billing is providing you, there are certain reasons why you have to hire a medical billing specialist. Some of the main reasons are as follows:
- A professional medical biller has a vast knowledge of billing regulations, including Medicaid, Medicare, and the new Affordable Care Act.
- The professional’s help ensure the submission of correct information. He saves the valuable time that you have to spend while learning these terms and regulations.
- A medical biller is an expertise in the field of billing as it is a complicated process. Submitting the correct and accurate codes to the insurance companies would help you in reducing claim denials.
- He may also help you in streamlining the process and ensuring billing compliance. Along with medical billing regulations and continuity in flux, this expert may help you avoid costly mistakes that take time and delay payments.
- An expert medical biller saves a lot of your time by professional behavior and allows you to spend more time on your patients’ care and health. In addition, he also allows you to take on more patients during your practice. The extra time you spend with your patients permits you to give superior care, and as a result, you can eventually grow your practice.
Hiring a medical biller may give you countless advantages. It will lower the stress of submitting and then collecting a streamlined process to a regular payment schedule from the insurance companies. Besides that, it includes several processes from finding the correct codes to submitting them to the insurance company. It also includes waiting for the payments or denial, and then starting the entire process over again. The billing experts and specialists are not afraid of intricacies of the medical billing law. So, hire the medical billing services from MDSol and enjoy seamless billing operations.