Changes are constant in the ever-evolving landscape of the medical industry. Regular updates to coding and regulations are to be expected.
If your medical practice has frequent issues with accuracy and compliance, you could be setting yourself up for an audit. This may not only affect your reputation in the medical community, but also cause you to incur costly fines.
Fortunately, there is now another option: Outsource your medical billing to ProMD. Outsourcing your medical billing will streamline your processes and, in turn, increase your revenue.
Here are five important ways in which ProMD’s medical billing services can help streamline your practice:
#1: Reduce Administrative Tasks
By handing over the responsibility to a company whose expertise is medical billing and medical management, you are greatly reducing the administrative burden on your staff. You would no longer have to invest in training your staff to keep up-to-date on the latest medical codes and billing regulations.
Moreover, you would also cut down on the time they spend preparing and sending claims to insurance companies. After all, time spent on administrative tasks is time spent away from serving patients.
#2: Shorten Your Revenue Cycle
We can streamline your medical billing process so you’ll receive payments and reimbursements more quickly. We will identify errors that need correction before submitting the claims to insurance companies, whether they be errors in coding, incomplete form completion, or other issues.
Any error in patient information or medical coding – even “innocent mistakes” – will result in long delays in payments and reimbursements that negatively affect your revenue cycle.
#3: Improve Profitability
Outsourcing your medical billing services to us can boost the revenue of your medical practice. We utilize state-of-the-art technology for an efficient streamlining of your billing process, potentially boosting your earnings by 20 percent in just the first few months.
#4: Improve Quality of Patient Care
With fewer administrative tasks required by your staff, you and your team will have more time and energy to spend on delivering high-quality patient care. It’s easier to build long-term relationships with patients when you have more time to spend with them.
#5: Provide Accurate Financial Information
We will stay on top of your practice’s finances through information such as which insurance carriers pay more quickly, which services tend to be a challenge, and which combination of diagnoses and procedures are likely to be declined for payment. You may use this information to further improve the workflow, productivity, and efficiency of your practice.
Medical Billing Experts for Your Practice
For over 15 years, ProMD Practice Management has helped medical practices in Florida, Virginia, Pennsylvania, and Maryland become more efficient by providing world-class medical practice management, billing and collections, and consulting services.
After conducting a comprehensive assessment of your practice, we will work to streamline aspects of your business that are not performing at full efficiency. Find out how we can help you boost your revenue.
Give us a call at (844) 236-5488 or fill out our online form. Let us take care of the billing so your team can focus on keeping your patients happy.