When it comes to optimizing your revenue cycle to ensure smooth running of your medical practices, medical billing is the only solution to increase profitability and cash flow. When a patient visits any medical facility, the medical department incurs some expenses and there are also some additional expenses when they extend their treatment which can later be claimed by the patient’s insurance provider. In this process, medical billing services help the clinic to claim the amount from the insurance provider, without the clinic staff worrying about the process.

To take on your most demanding task, expert hands-on medical billing service and powerful technologies ensure your medical practice runs at peak efficiency and profitability.

It is your responsibility to see if customers’ medical claims are processed correctly and filed on time. Billing is done very efficiently to allow for maximum refunds for all claims submitted.

The billing cycle begins as soon as patient information is registered and updated, so the doctor’s office should verify with the insurance provider their specific billing requirements.

And with this begins the perfection with which practitioners and experts perform their task to reduce errors and optimize this cycle. However, even with advanced technology and up-to-date software, it’s hard to stay bug-free.

So before venturing into this profession, make sure you are aware of the important aspects of medical billing to boost and optimize the revenue cycle of the business.

1. Demographics: Entering correct data related to patient’s name, address and phone number, job, insurance, and eligibility verification.

2. Charge Entry: Assignment of an appropriate $ value based on the appropriate fee schedule and coding after creating the patients account. Depending on account-specific rules, charges are entered on the customer’s medical bill. Incorrect charge entry may result in denial of claims.

3. Transit claims: percentage of electronic claims and time from receipt of charge to transmission.

4. Subsequent Payments: All payers submit an Explanation of Benefits or Electronic Payment Advice for a claim payment. A negative balance for the claim prevails when the client’s office is late in responding to the paycheck or sending the electronic notice of payment and explanation of benefits.

5. Manage denials: making quick fixes when registering payments and how to track denial reasons.

6. Defaults and Appeals: These are more complicated than denial claims and require making a follow-up call to check on the status of the unresponsive check.