What Services Does a Medical Billing Company Provide? - PowerPoint PPT Presentation

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What Services Does a Medical Billing Company Provide?

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Comprehensive medical billing services reduce coding and billing errors and result in maximum reimbursement & maintain a successful medical practice. – PowerPoint PPT presentation

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Title: What Services Does a Medical Billing Company Provide?


1
What Services Does a Medical Billing Company
Provide?
MGSI LLC - Medical Billing Company
2
Introduction
  • Accurate and timely billing is the key to healthy
    financial performance for any medical Practices
    or physicians.
  • Medical Billing is a cycle of process which
    involves various scopes of services handled by
    multiple professionals at different levels, hence
    the complexity of submitting cleaner claim at a
    higher first pass rate has always been a
    challenge and with all other areas like
    recruiting, training and supervising takes most
    of your time and focus away from your core which
    is patient care.
  • Considering all these intricacies many practices
    are now opting for Medical Billing outsourcing.

MGSI LLC - Medical Billing Company
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  • MGSI LLC - Medical Billing Company

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  • While considering to outsource your medical
    billing it is essential to know what are the
    list of services provided by a Medical Billing
    Company?
  • What are the areas covered and taken care by the
    third party vendor?
  • A clarity on the services covered by a Medical
    billing company helps settle down most of the
    questions pertaining Outsourcing Medical Billing.
  • Read below to know what to expect from a Medical
    billing Company and the list of services
    provided.

MGSI LLC - Medical Billing Company
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Complete Revenue Cycle Management Services
  • Medical billing Company provides a comprehensive
    solution covering all your medical billing and
    coding requirements to help you focus on patient
    care.
  • Major services provided include complete revenue
    cycle management solution covering end to end
    billing from Patient Demographic Entry to
    Accounts Receivable and Denial Management.

MGSI LLC - Medical Billing Company
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Insurance Eligibility and Benefit Verification
  • Insurance Eligibility and Benefit verification is
    more critical given the current situation with
    Affordable Care Act where the coverage and
    benefit details vary from month to month.
  • Verifying Insurance and Eligibility protects your
    practice from unwanted stress far ahead.
  • Your medical billing services provider should be
    equipped with experienced and skilled
    professionals to handle the verification process
    efficiently and also inform you the patient
    responsibility in prior.

MGSI LLC - Medical Billing Company
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Patient Demographic Entry
  • Outsourcing Patient enrollment and Demographic
    Entry to medical billing company saves lot of
    effort and time spent, paving way for fully
    focused patient care.
  • Demographic Entry involves collecting patients
    demographic and insurance information and
    entering into billing software.
  • Accurate and through data is crucial to submit
    clean claims which requires trained professionals
    from medical billing team to ensure maximum
    quality.

MGSI LLC - Medical Billing Company
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Accounts Receivable and Denial Management
  • One of the most tedious and laborious task as it
    involves analyzing the overall claim for
    erroneous data and correct them, and then appeal
    with Insurance with multiple follow ups.
  • Most practices take a back seat when dealing with
    the claim denials and focus only new claims
    resulting in lost revenue.
  • Medical Billing Company tracks denied claims and
    works on filing the appeals within the Timely
    Filing Limit (TFL) and Appeal Filing Limit
    (AFL)ensuring every dollar due to the practice is
    claimed.

MGSI LLC - Medical Billing Company
9
Medical Coding
  • This process is the most challenging and liable
    to err, therefore it is advisable to have a
    streamlined professional approach in handling
    coding for each and every claim.
  • Any error in Medical Coding will lead to claims
    denial affecting your practices cash flow.
  • Outsourcing Medical Coding is recommended to
    ensure error less and quality coding by
    experienced, certified and professional coders.

MGSI LLC - Medical Billing Company
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Charge Entry and Payment Posting
  • Charge Entry requires the staff involved to be on
    top of the current changes or updates in the
    Insurance fees schedule.
  • Similarly, Medical Billing companies also ensure
    payments received from Insurance, Patients and
    Secondary Insurance are duly posted against the
    claim and provide you with the report on the
    closed and pending claims.
  • Apart from the traditional billing and coding
    services, your medical billing services partner
    should also cover additional operational and
    support services as listed below

MGSI LLC - Medical Billing Company
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Practice Management Services
  • A well-established Medical Billing Company
    provides you thorough analysis on your current
    financial set up and provide you a systemized
    billing and operational support.
  • Your medical billing partner should be able to
    allocate professional consultants to evaluate
    your current income, shortfalls and suggest
    advanced and streamlined approach for enhanced
    productivity.

MGSI LLC - Medical Billing Company
12
Fee Schedule Enhancement
  • Fee schedule for medical procedure needs to be
    reviewed for changes constantly and updated to
    curb shortfalls or revenue loss.
  • Many practices miss on reviewing the fee schedule
    and end up billing lesser that the allowed
    amount, which in turn affects your practice
    financial system.
  • Medical billing company has streamlined process
    to keep their staff up-to-date with the ongoing
    changes and keep abreast to ensure maximized
    reimbursement.

MGSI LLC - Medical Billing Company
13
Provider/Physician Credentialing Services
  • Getting providers enrolled with the insurance
    company and keeping them in-network is a
    cumbersome process which can be time consuming.
  • By opting for outsourced Medical Billing
    services, you can get away from the stress
    involved in physician credentialing as it is
    taken care off by your medical billing service
    partner

MGSI LLC - Medical Billing Company
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About MGSI
  • MGSI is a national medical billing and collection
    company providing end-to-end billing solutions to
    its clients.
  • With over 25years of experience, MGSI serves
    hundreds of physicians and medical practices
    providing one-stop-solution for all their medical
    billing needs.
  • MGSI is a fully HIPAA Compliant and BBB
    accredited company to protect PHI and provide
    quality services.
  • MGSI has a proven track record of more than
    hundreds of happy and successful clients across
    the United States.

MGSI LLC - Medical Billing Company
15
Contact us
  • To know more about MGSI and its services
  • log on to Medical Claims Processing and Billing
  • Call us 1 (877) 896-6474
  • Email us info_at_mgsionline.com

MGSI LLC - Medical Billing Company
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  • MGSI LLC - Medical Billing Company
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