The healthcare industry has undergone many drastic changes in recent months and years, which has caused many practices and clinics to completely re-think the way that they do business. Account receivables management has been hit the hardest, leaving physicians to look for new ways to improve account management and regain control over medical billing services. Rather than simply outsource your ENT account management to a third-party, there is another way to ensure that your staff is compliant with ICD-10, meaningful use and other essential changes.
Delaying upgrades and enhancements to account receivables management can lead to bigger issues and problems down the road, due in large part to the direct impact that these initiatives can have on your bottom line. While it is harder today to meet all of the new requirements without the right technology, it is possible to hire a professional consultant who can review your practice and give you insight into improvements that are required to get computers, software and other tech-based programs current and up-to-date.
Important Areas That Require Attention
When you hire a consultant to help you with account receivables management and medical billing services, make sure that you put emphasis on the areas that you believe are the most important. In addition, your consultant should also provide you insight into the following areas where improvements can be made to maximize the potential of your ENT account management in-house. While outsourcing may be recommended, it is important to ask questions about what you can do to improve account management in-house for the long-term.
- Integrating Clinical & Financial Systems – The best way to stay on top of all the data required to properly input billing and coding information under the new ICD-10 and MU initiatives is to provide clinical data discreetly with relation to preventive health measures, while also reporting accurately enough to get the right ICD-10 coding for account receivables management. It is important to be able to easily link the clinical data with the financial information in order to meet the criteria required for proper medical billing services. Ask your consultant about integrated tools and technology that can help to facilitate this type of interfacing for more effective billing options.
- Plan With the Future In-Mind – When you embrace new tools and technology for your otolaryngology practice or clinic, make sure that the software and services that you consider are “forward thinking” and adaptable for easy upgrades in the future. There is no indication that there will be any slowing with regard to the changes made for the healthcare industry, so it is important for your medical billing services and system to be accurate, effective, efficient and adaptive so you won’t have to replace everything completely again in the future when the next wave of changes to account receivables management occur.
- Work Smarter, Not Harder – Another thing that you should consider to improve account management is to find medical billing services systems that facilitate all of the tasks that you require for ENT account management, including payer and patient payments. This part of the process should be streamlined to make it more effective and efficient. Automatic insurance verification, claims scrubbing based on CMMS coding initiatives, as well as methods for ensuring that patients are aware of their part in the financial responsibility of claims, should all be included. An online portal that allows patients to update information and download bills or make payments, get prescription refills, view test results and other interactive tasks should definitely be considered.
- In-House vs Outsourcing – You should also get details on the difference in cost between upgrading existing computers, software and ENT account management tools in-house and simply outsourcing medical billing services to improve account management. Some practices choose to use outsourcing on a temporary basis while they make improvements, while others decide to go “all in” on outsourcing account receivables management to reduce costs associated with upgrading and to prevent upgrading costs again in the future.
How MD Pro Solutions Can Help
We work and consult directly with your in-house billing department to ensure that you are accurately billing your patients. MD Pro Solutions specializes in ENT account management, auditing and reviews, credentialing services, and reporting and communications. If your otolaryngology practice or clinic needs help to improve account management, give us a call at 508-946-1665. We can provide you with a FREE evaluation and offer choices with regard to account receivables management and accurate medical billing services.