5 Tips To Keep Your Medical Billing Business Afloat During COVID-19

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5 Tips To Keep Your Medical Billing Business
Afloat During COVID-19
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Abstract

• Introduction
• Evaluate Financial Commitments
• Adapt to the Current Market Trends
• Competitor Analysis
• Coding and Billing Changes
• Offshore Outsourcing your Medical Billing
• About e-care

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(No Transcript)
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Introduction

• COVID 19 pandemic attack has been precipitous and
  has affected almost all sectors, healthcare
  organizations and medical billing companies being
  in the vanguard during this travail state are
  most vulnerable.
• Physicians fighting at the forefront disposing
  themselves to the death-dealing coronavirus and
  working extended hours, the billing companies are
  struggling to get accustomed to the new billing
  and coding guidelines, altered insurance policy
  guidelines, and CMS rules and regulations, etc.
• COVID 19 has put the entire medical billing
  business into a stressful situation and keeping
  the business afloat has become a challenge.
  However, following some simple steps will prevent
  your business and the revenue loss substantially.

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Evaluate Financial Commitments

• Keeping in mind the current situation has
  drastically decreased your revenue flow, it is
  necessary to keep a watch on your financial
  obligation.
• Ensure there is a contingency plan to control the
  overhead expenses. Check out for the financial
  benefit allowance by the Government and the
  private sectors.
• Most of the creditors, third-party vendors, loan
  agents, landlords, etc. have introduced
  beneficial plans to help you during this time.
• Getting a legal counsel to understand your rights
  to the available benefits can help you make the
  right choice.

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Adapt to Current Market Trends

• Keeping in mind the current situation has
  drastically decreased your revenue flow, it is
  necessary to keep a watch on your financial
  obligation.
• Ensure there is a contingency plan to control the
  overhead expenses. Check out for the financial
  benefit allowance by the Government and the
  private sectors.
• Most of the creditors, third-party vendors, loan
  agents, landlords, etc. have introduced
  beneficial plans to help you during this time.
• Getting a legal counsel to understand your rights
  to the available benefits can help you make the
  right choice.

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Competitor Analysis

• If the current situations and its effects on your
  business have dissuaded you and deter you from
  keeping your business intact, look at your
  competitors, watch how they are sustaining and
  some of them are progressing even during this
  national crisis.
• Analyze what makes the difference and try to
  imply those strategies to your business.
• Find what best suits to keep your business
  running and make sure not to let go of any
  opportunities to retain your business until
  normalcy.

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Coding and Billing Changes

• With novel coronavirus attack and the demanding
  requirement for altered and additional changes in
  medical billing and coding, claim denials and
  delays have consequently increased.
• To curb this issue, it is about time that medical
  billing companies train their billers and coders
  with the current updates and changes in the
  industry.

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Offshore Outsourcing your Medical Billing

• Given the current situation, outsourcing revenue
  cycle management to an offshore-based medical
  billing company is considered as one of the best
  strategies by most of the medical billing
  companies.
• As outsourcing, your medical billing is
  cost-effective and helps you run your business
  efficiently.
• An offshore billing and coding team with their
  overall experience and regularly trained and
  updated skillsets will be able to handle your
  entire medical billing process successfully.

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About e-care

• E-care India is one of the pioneering offshore
  medical billing companies based in India that
  promises to avoid the risks involved with missed
  Charges.
• With 20 years of experience in the industry,
  e-cares 3 delivery centers have been providing
  end-to-end medical claims processing services
  seamlessly to its clients.
• To know more about e-care and its services, log
  on to www.ecareindia.com.

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Thanks!
info_at_ecareindia.com
1 813 666 0028
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