Revenue Cycle Management

What Services Do Medical Billing Companies Provide?

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The medical billing industry is vast and rapidly changing. If you’re one of the many healthcare providers struggling to balance practice management, patient billing, claim denial management, and more, you’re not alone. Outsourcing some or all of your medical billing processes to a medical billing service provider is beneficial in many ways, and it can be helpful to know exactly what tasks they’ll take over and what you’ll still have to do in-house. PayrHealth is a top medical billing company and healthcare industry expert that offers best-in-class medical billing solutions to keep your practice running smoothly and efficiently.

With PayrHealth’s revenue cycle management solutions and proven track record of helping healthcare providers achieve success, you won’t have to worry about a thing when it comes to claim submissions, patient follow-up, or communication with insurance companies. Here’s a comprehensive list of the best medical billing services we offer to healthcare providers of a variety of medical specialties to elevate your medical practice:

Bills and Claims Submission

Our core medical billing services automate the patient billing and claim submission process by integrating with your electronic medical records (EMR) system, pulling each visit’s details, relevant patient data, and other data directly into a standardized claim form. Then, to minimize billing errors, our certified medical coders and dedicated billing manager run a series of scrubbing tools over each claim submission to ensure the information is complete and the appropriate codes are utilized to ensure maximum reimbursement. If needed, prompt and accurate data entry using best-in-class medical software can be performed. In addition, when insurance claims are denied, our team handles all the necessary follow-up and denial management, resubmitting medical claims and escalating issues to ensure you always gets the revenue your medical practice and healthcare professionals rely on.

Verification of Benefits

It’s infuriating to discover that a service you rendered to a patient isn’t covered under their specific benefits, leading to denied claims and dues remaining in patient collections far longer than they should. Top medical billing companies such as PayrHealth can offer healthcare providers thorough and detailed eligibility verification services to help you get reimbursements and timely payments for maximum financial performance. Patient eligibility verification and even patient registration can be time-consuming, so let our team handle it.

Provider Enrollment and Credentialing Services

If a new healthcare provider joins your team, or you want to contract with a new payor, we handle all the necessary credentialing. This includes commercial payors as well as government payors, including Medicare, Medicaid, and VA insurance. We keep your team updated and credentialed to ensure you don’t miss out on reimbursement or experience gaps in providing quality patient care.

Utilization Review

In addition to verifying patient benefits, we also obtain authorization from payors to perform certain healthcare services when you’re not currently contracted for certain codes. We understand that the insurance landscape is confusing and constantly changing, which is why we advocate on your behalf to meet the requirements of insurers to guarantee maximum reimbursement and patient satisfaction.

Patient Payment Collection

Another time-consuming task your staff handles on a daily basis is communicating with patients with due balances. We reach out to secure these payments and work with patients on payment plans, freeing up your team and solidifying your practice’s financial health with better patient engagement. Our team offers the latest training and HIPAA compliance so healthcare organizations don’t need to spend valuable resources.

Accounts Receivable Management

With revenue cycle management, PayrHealth monitors your accounts receivable for outstanding payments and manages them accordingly. We also offer timely payment posting and record both paper and electronic health records, giving you careful documentation of your cash flow. We can also look for leaks and help you shore up any risks to your practice revenue streams.

Transparent Reporting

Any medical billing company should ensure you have access to the most up-to-date revenue cycle information and healthcare analytics to drive your decisions with state-of-the-art data processing services. PayrHealth provides reporting sessions where we review claim submission and acceptance rate, the state of accounts receivable, and major transactions during the last period. This helps healthcare providers make smarter decisions about practice management and see noticeable cost savings.

Medical Billing Services with PayrHealth

Medical coding and billing processes are often tedious and take your team’s attention away from providing excellent care. Medical billing outsourcing companies give you a great strategic advantage when you partner with experts like those at PayrHealth, one of the top medical billing companies in the nation. Our team’s sole focus and expertise is in revenue cycle management and the healthcare industry, and we have experience in all 50 states to ensure you get paid more – and more often – for the services you provide. We also offer a variety of other healthcare outsourcing services to fully support healthcare providers and medical practices, setting us apart from other medical billing companies. Learn more about what medical billing solutions we can offer by calling us or contacting us online today.

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