MGSI-Medical Billing Services

Top Ideas to Improve Your Medical Billing and Collections

Every Physician and Medical Practice strive towards improving Medical Billing process and achieve better collections. However, end up depleting all of their efforts and focus into patient care and quality treatment, apparently as that is the core of their business. As a result, obliviously improvising medical billing process takes a back seat as it needs time, dedication, and consistent hard work as a first step even before thinking about maximizing and channelizing collections and reimbursements. This article aims at providing and helping physicians and medical practices with “Tops ideas to improve medical billing services and thereby increase monthly collections”

Essential steps to Improvise Medical Billing

Consciously involving certain steps into your medical billing cycle can make a great impact overall. Mentioned below are few key areas which cannot be neglected at any cost.

• Keep atop of the CMS, Medical Billing and Coding protocols and policies.
• Insurance Eligibility Verification
• Medical Records Management
• Physician Credentialing
• Process Automation for increased quality
• Updated fee-schedule chart for right payment for each services rendered.

Dedicated Billing and Coding Team

Having a dedicated Billing and Coding team is a prerequisite for any practice irrespective of their size and specialty. Physicians, office managers and front desk staffs wear multiple hats to ensure smooth and comfortable patient care which indirectly pushes the Medical Billing and Claims processing on low priority in their day to day busy schedule. Having a team dedicated to handle the billing and coding can eliminate such circumstances and help practices handle claims processing on a daily basis without delay on timely filing limit.

Internal Audits on Billing and Coding

Increased medical billing collections can be attained only by emphasizing on quality at each scope of services. Cleaner claims increases first pass ratio and maximizes claim reimbursement percentage. Regular audits also helps identify loopholes, educate the billers and coders and curb recurring claim denials.

Outsourcing Revenue Cycle Management

Outsourcing medical billing to a top medical billing company can help free up the physicians shoulder off the back office tasks like, Medical Billing, Coding, Physician Practice Management, Claims process and Denial Management. You can even leverage on a Medical Billing company for services such as Physician Credentialing, Medical Records Management alongside end to end Revenue Cycle Management solutions. Having a Medical Billing expert improves quality and standardize claims processing with increased collections. Read below to understand how outsourcing can help achieve targeted results:

• Dedicated team of expertise for each scope of service
• Trained, experienced and skilled billers and coders
• Streamlined process for standardization and efficiency in claims processing
• Excellent Denial Management and AR follow up to keep your claim denials ratio at minimal at any given point
• Regular claims audit to meet the standard quality percentage and reduce denial ratio
• 24/5 support with dedicated team and account managers at your service
• Complete practice management support covering the entire revenue cycle management and additional services to keep your practice revenue on track
• HIPAA compliant for secured Patient health Information and abiding by all confidential protocols and regulations

About MGSI

MGSI is a 27 year old National Medical Billing Company located in Tampa, FL providing Medical Billing and Revenue Cycle Management solutions to more than 600 physicians and medical practices across the US. A multi-specialty Medical Billing Company guaranteeing 95% first claim pass acceptance and 96% of claims paid in 30 days. To know more about MGSI and our services call 1-877-896-6474 or log on to Medical Billing and Collections | MGSI LLC, Tampa (mgsionline.com)