There comes a time when a medical doctor has to make an important decision. The decision to outsource your medical billing or to keep it in house. For years, doctors have been able to hire full time employees to handle all of their billing and administrative duties. Today, there are a lot of legalities involved in billing that the average biller does not know. It is important to get a medical biller that knows and understands ICD-10 medical coding.
If you are a medical doctor, you probably don't know much about billing or what ICD-10 even means. The codes are a lot longer than they were in ICD-9. If your employee is telling you that you need to upgrade your software, they are telling you this because they know something about ICD-10. ICD-9 was a whole different story. There weren't as many codes. Your biller has to know more in depth information about the patient and if their health is improving.
Outsourcing has become more popular since October 1, 2015. This is the date that ICD-10 got released. A lot of countries around the world reported receiving a slowdown in payment because the change was so drastic. Many people did not input the correct codes or input. It was complicated for a lot of people to understand. Many billing companies prepared for ICD-10 long before it got released to the public. This is why they are more advanced than most billers that work in doctors' offices.
Today, billers need to feel secure in what they are doing. There are certain laws that must be followed. If a person does not follow the laws, it can bring hefty fines to your practice. It can also make you look like you are trying to scam the system. Insurance companies today are giving audits often. They want to know what you are doing with the money that they are giving to you. They want to make sure that your paperwork is all up to par and they are often withholding payments until their audits are finished. Some of the audits take several months. It is hard to wait for a payment when you have bills to pay and salaries as well.
If you feel like you want to learn more about medical billing, there are many schools that teach on the subject. It is important to make sure that they are approved by a recognized medical billing organization. Most programs that are regionally accredited have a good organization backing them up.
If you are a medical doctor, you probably don't know much about billing or what ICD-10 even means. The codes are a lot longer than they were in ICD-9. If your employee is telling you that you need to upgrade your software, they are telling you this because they know something about ICD-10. ICD-9 was a whole different story. There weren't as many codes. Your biller has to know more in depth information about the patient and if their health is improving.
Outsourcing has become more popular since October 1, 2015. This is the date that ICD-10 got released. A lot of countries around the world reported receiving a slowdown in payment because the change was so drastic. Many people did not input the correct codes or input. It was complicated for a lot of people to understand. Many billing companies prepared for ICD-10 long before it got released to the public. This is why they are more advanced than most billers that work in doctors' offices.
Today, billers need to feel secure in what they are doing. There are certain laws that must be followed. If a person does not follow the laws, it can bring hefty fines to your practice. It can also make you look like you are trying to scam the system. Insurance companies today are giving audits often. They want to know what you are doing with the money that they are giving to you. They want to make sure that your paperwork is all up to par and they are often withholding payments until their audits are finished. Some of the audits take several months. It is hard to wait for a payment when you have bills to pay and salaries as well.
If you feel like you want to learn more about medical billing, there are many schools that teach on the subject. It is important to make sure that they are approved by a recognized medical billing organization. Most programs that are regionally accredited have a good organization backing them up.
About the Author:
Ideal Billing Solutions provides billing medical insurance claims, utilization management and verification of benefits. Our company is ICD-10 compliant and get over the top returns for our customers. Billing outsourcing is a service that a lot of doctors are doing right now. The overall reason is because it saves both time and money. Many doctors receive 30% more in returns.
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