There are many things that healthcare providers need to consider in today’s ever-changing climate. From the challenges that come with obtaining proper Medicare reimbursement to CPT code changes, the world of ENT medical billing services can become an obstacle for many growing practices. Many medical practices across many different specialties are turning over their books to professional billing services in order to stay ahead. However, because the needs and requirements of each individual practice can vary greatly depending on location, patient demographics and other unique elements, it is important to hire a service that can address those needs and step up to meet those requirements.
If you are considering outsourcing your medical billing services for your ENT practice, here are five reasons that should help you make up your mind.
Reason #1 – Costs Associated With Denials
If your office has a high denial rate, it’s time to clean things up. In addition to causing issues with your ENT practice, the costs associated with denials can quickly add up as well. In fact, the average claim denial can cost $25-30, plus the time that your staff spends working on them. Outsourcing your ENT medical billing services helps you to become more efficient and save money at the same time. Professional medical billing services are charged with the costs associated with finding errors and re-submitting claims, reducing your costs as a result.
Reason #2 – Reduced Staffing Costs
When you hire medical billing services to help you with your ENT practice, handling Medicare reimbursement issues, CPT code changes and claim denials, you can also reduce your staffing overhead considerably. Most ENT medical billing services provide you with year-round support, reducing your staffing costs for salaries, benefits, equipment and software. You can dedicate more on-site space to serving your patients, rather than taking up valuable real estate for an on-site billing department. Any legal costs that would be associated with employee negligence or malicious behavior are also covered when you outsource your medical billing services.
Reason #3 – Education and Training Costs
The healthcare industry is always growing, changing and evolving, making it important for your ENT practice to keep up. In the area of CPT code changes and changes made to basic ENT medical billing services across the board, a lot of education and training is required in order to keep in-house staff fully trained and up-to-date on the latest requirements. Education and training ensures that your staff is ready and able to handle Medicare reimbursement or claim denial issues as they arise. Outsourcing medical billing services means never having to send your staff out for training or certification in order to meet the stringent criteria for medical billing.
Reason #4 – Saving Time
Outsourcing ENT medical billing services can also help the entire staff of your ENT practice to save time – including the physicians. In most cases, staff members will manage the day-to-day tasks that are required to meet the operational, administrative and billing needs. Unfortunately, in many situations, the physicians end up assisting in coding and billing, especially with all the changes being made throughout the industry. Some physicians end up spending more time on paperwork and less time with patients. With hours being spent each month making phone calls to track down insurers and perform other administrative tasks, your ENT practice could definitely benefit from outsourced medical billing services, freeing up lots of time that could be better spent attending to other areas of your practice.
Reason #5 – Preparing for ICD-10
While it is an important step forward in the healthcare industry, the American Health Management Association (AHMA) has estimated that the coming changes will require coder to take at least 16 hours of specific training on ICD-10-CM, as well as another 24 hours of training on ICD-10-PCS, with another 10 full hours spent on implementing the changes within the ENT practice. If you and your team have not started preparing for the ICD-9 to ICD-10 conversion and your practice is busy enough that you don’t have time to learn all of the new codes, professionally outsourced medical billing services. While all of the brand new changes will not apply to your ENT practice, there are over 55,000 new codes that apply to medical billing services in general.
You Specialize, Your Medical Billing Services Should Too!
When it comes time to hire a professional service to take over your practice’s ENT medical billing services, it is important to hire a company that specializes in Ear, Nose and Throat billing and Medicare reimbursement. You need to know that the people who will be handling the billing for your ENT practice are well versed in CPT code changes, Medicare issues and anything else that might impact your business.
MD Pro Solutions specializes in providing top quality medical billing services to doctors and practices that serve patients within the Otolaryngology field. We have over 45 years of experience working with medical billing services, administration and utilize proprietary accounts receivable protocols and revenue generations that are designed specifically to serve ENT practice solutions. Our team will work with you directly to help you improve your ENT medical billing services and boost revenue through a combined effort of tools, support and education. Use our online contact form or give us a call at 508-946-1665 to find out more about all of our available managed services.