How Billing Companies Transform Billing For Treatment Centers

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How Billing Companies Transform Billing for
Treatment Centers 

• The landscape of mental and behavioral health is
  rapidly changing. In addition to the
  time-consuming effort of billing and coding, you
  must deal with constantly changing legislation,
  payment structures, and substance addiction
  billing software, as well as the issues of
  out-of-network billing.
• Billing concerns plague many drug and alcohol
  addiction treatment facilities, resulting in late
  payments and revenue loss. This is where the need
  for outsourcing substance use disorder billing
  comes in. Outsourcing medical billing and coding
  provides you with a team of skilled billers and
  coders who will tackle these problems on your
  behalf. A substance addiction billing
  company will also keep track of receivables,
  promote best practices, and boost reimbursements.
  Lets see how billing companies transform billing
  for treatment centers.

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• Increased Focus on ICD-11
• According to the research, the most prevalent
  classification system, ICD-10 (International
  Classification of Diseases, Tenth Revision), will
  be replaced by ICD-11. That implies that ICD-11
  will become the accepted international standard
  for disease classification in 2023.
• Introduction of Blockchain
• Blockchain, which is slightly more capable than a
  decentralized ledger, records all forms of
  transactions. Since there isnt much distinction
  between a sequence of EHRs and a financial
  ledger, a blockchain ledger can be easily
  incorporated into an EHR. As blockchain records
  are immutable, including blockchain technology
  makes the rehab billing services system more safe
  and accurate.

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• Other Services
• There are a few critical trends that stand out
  when one looks at high-growth medical billing
  companies, defined as organizations with two
  years of year-on-year revenue growth of 11 or
  more.
• Offering more substance use disorder billing and
  coding services could be a way to grow. According
  to a survey, 91 of these companies provide
  appeals services, while 84 give patient support.
  Other services to consider include
• Credentialing
• Practice technology consulting and support
• Compliance consulting

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Why is it Important to Keep Up with the Changes?

• As medical technology rapidly advances, keeping
  up with the latest developments is critical to
  ensuring patients receive quality care. That
  being stated, here are two eye-opening figures
  that will help you realize why keeping up with
  changing trends in substance use disorder billing
  and coding is equally essential
• According to InstaMeds Trends in Healthcare
  Payments Twelfth Annual Report, approximately 87
  of patients are interested in making payments
  online.
• The medical billing sector is expected to grow
  9.25 to USD eight billion by 2026.

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About 24/7 Medical Billing Services
24/7 Medical Billing Services is the nations
leading medical billing service provider catering
services to more than 43 specialties across the
entire 50 states. You can rely on us for
end-to-end revenue cycle management. We guarantee
up to 10-20 increase in the revenue with cost
reduction of your practice for up to 50.
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Call us Today
Media Contact 24/7 Medical Billing
Services, 28405 Osborn Road, Cleveland, OH,
44140 Tel [phone] Email
info_at_247medicalbillingservices.com Website
https//www.247medicalbillingservices.com/
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