Why Should You Contract Out Your Medical Billing Services?™ Running a doctor's office is getting tougher. With ICD-10 coding, new federal regulations and stickler insurers, you need to decide what you will do in-house and what you can contract out. Billing is something you can and should contract out. Here's why... Contracting out medical billing is a very attractive option. Let me present some examples why this would be attractive. Staff turnover is an issue. You walk in to work on a Monday morning. The assistant who does your billing announces she is leaving…she wants to spend more time with her family, travel or just relax. This puts you in abind. You have to find someone to do her work. You review your notes and discover that youve had three different people do your billing over the past five years. You trained them yourself. This was time you did not spend with patients, did not spend on marketing and did not allocate to your own continuing education. If you contracted out billing services, you could have had someone else do the billing. You would be freed up to spend more time with patients, improve your marketing and get more CE. You can leave the billing, coding, training and follow-up in the hands of someone who does it every day. You can then think about other things, like running your practice. Staff turnover…will not disrupt your billing. ICD-10 coding mandates are lurking. During the second half of 2012,doctors offices will have to prepare for the ICD-10 coding structure. The coding will become much more complex and yes, there will be a deadline to implement the new coding. That leaves you between a rock and a hard place. You can choose option “A” of training your own staff by yourself or option “B” contracting out the service to a medical billing company that is already up to speed on the new codes. Suppose you choose option “A.” You see patients 40 hours a week, want to spend more time on your marketing and realize you need CE. When will you have time to train your staff and yourself the new billing structure? You wont. January, 2013 will arrive and you will be in trouble. Staff will submit claims in the old ICD-9 coding and those claims will be denied. You will have to learn ICD-10 and train your staff. All this while seeing patients, improving your marketing and getting your own CE. It is a very tall order. Option “B” contracting out billing makes more sense. The medical billing company is responsible for working with insurance companies and collecting on your payments. You can focus on your marketing and continuing education. Contracting out is something you already do. When you pick up the phone and get a dial tone, you are contracting out telephone services to the phone provider. If you want to call someone halfway across the country, you just pick up the phone, verify a dial tone and call. Somebody on the other end answers within 5 seconds. You dont have to think about all the technology, cabling and switches that carry your call. You dont have to think about the phone company or how often they train their technicians. You just enjoy the benefits. You can contract out your medical billing and let someone else deal with all the details. Accountability. When you contract out the medical billing, you can hold the billing provider accountable. They get paid a commission on what they collect for you. The more you collect, the more they get paid. The incentive for promptness, accuracy and follow-up is obvious. Fewer delays. Insurers can personal emr software delay payment to a doctor. These delayed payments can occur if the insurer doesnt think the diagnosis is medically necessary or the diagnosis is incorrect. They could reach this conclusion if the diagnosis is expired, using a wrong code or doesnt match the procedure code that you submitted. For example a doctor might bill for an electrocardiogram and use the diagnosis of a sinus infection. It wouldnt make sense to bill this together because a sinus infection wouldnt be a reason to have electrocardiogram. This is one example of why a claim could be denied. Also, if you submit the claim on paper, that could delay payment. When the claim is submitted on paper, someone at the insurer has to type the details into their system. It takes more time and delays your payment. For more details, contact Brian Shaw at 866-976-1011.
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THE FUTURE OF DATA ENTRY: TRENDS AND INNOVATIONS TO WATCH™ In the everevolving landscape of data management, the future of data entry holds a promise of transformative advancements that will reshape the way information is processed and utilized. As you navigate through the Perfect Data Entry Solutions intricate web of technological developments and shifting paradigms, you might find yourself intrigued by the unfolding trends and innovations that are set to revolutionize the field of data entry. From the integration of automation and machine learning to the adoption of blockchain technology, the horizon of data entry is brimming with possibilities that could redefine efficiency and accuracy in ways that were once unimaginable. Automation and Machine Learning In the realm of data entry, automation and machine learning have revolutionized efficiency and accuracy, reshaping traditional workflows into streamlined processes. AI assistance plays a crucial role in enhancing data accuracy by reducing human error and providing realtime feedback. By utilizing machine learning algorithms, data entry systems can learn from patterns and previous inputs to improve their performance over time. This not only increases the speed of data entry but also ensures a higher level of precision in capturing and processing information. The integration of AI assistance in data entry tasks enables the system to recognize common data patterns, validate information, and suggest corrections when discrepancies arise. This proactive approach minimizes the likelihood of errors slipping through unnoticed, ultimately enhancing data accuracy. Machine learning also allows for the automation of repetitive tasks, freeing up valuable time for data entry professionals to focus on more complex and strategic aspects of their work. As a result, organizations can achieve higher levels of efficiency and productivity in managing their data entry processes. Remote Data Entry Solutions Utilizing advanced technology and seamless connectivity, remote data entry solutions have emerged as a pivotal strategy for organizations aiming to optimize their data management processes efficiently. This innovative approach leverages virtual assistants and cloudbased platforms to streamline data entry tasks regardless of the user's physical location. Virtual Assistants: By integrating virtual assistants powered by AI technology, organizations can automate data entry tasks, reducing human errors and speeding up the overall process. CloudBased Platforms: Remote data entry solutions often rely on cloudbased platforms, enabling realtime access to data from anywhere, promoting collaboration among team members working remotely. Enhanced Security: These solutions offer enhanced security measures, ensuring that sensitive data is encrypted and protected, giving organizations peace of mind when handling confidential information. Blockchain Integration in Data Entry Integrating blockchain technology into data entry processes revolutionizes the way organizations secure and authenticate their data transactions. Blockchain offers decentralized verification, eliminating the need for a central authority to oversee data entry transactions. This decentralized nature ensures that data remains tamperproof and transparent, enhancing trust and integrity in the data entry process. Furthermore, smart contract integration within blockchain technology automates and enforces the terms of agreements between parties involved in data entry. Smart contracts execute predefined actions automatically once specific conditions are met, reducing the need for manual intervention and streamlining the data entry workflow. Data Security and Privacy Measures With the foundation laid by blockchain integration in data entry, the focus now shifts to implementing robust data security and privacy measures to safeguard sensitive information effectively. To enhance data security and privacy in data entry processes, consider the following: Data Encryption: Implement endtoend encryption protocols to secure data both in transit and at rest. Utilize advanced encryption algorithms to protect sensitive information from unauthorized access. Regularly update encryption methods to stay ahead of potential threats and vulnerabilities. Privacy Regulations: Ensure compliance with relevant data protection laws such as GDPR, CCPA, or HIPAA, depending on the nature of the data being handled. Conduct regular audits to assess adherence to privacy regulations and make necessary adjustments. Provide ongoing training to employees on privacy laws and best practices to maintain a secure data environment. Augmented Reality for Data Input Augmented Reality enhances data entry efficiency by providing a visually immersive interface for inputting information. This technology overlays digital elements onto the physical world, allowing you to interact with data in a more intuitive and engaging manner. Virtual assistants integrated into augmented reality systems can guide you through data entry processes, offering realtime support and reducing the likelihood of errors. By wearing ARenabled devices such as smart glasses or headsets, you can input data handsfree, leading to improved productivity and accuracy. Wearable technology plays a crucial role in the adoption of augmented reality for data input. These devices enable seamless integration of AR capabilities into your daily workflow, making data entry tasks more efficient and convenient. With the help of virtual assistants and wearable technology, you can streamline the data entry process, enhance collaboration, and make betterinformed decisions based on the insights derived from the augmented reality environment. As this technology continues to evolve, the future of data entry looks increasingly promising with augmented reality at its forefront. |
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