What Services Does a Medical Billing Company Provide?

What Services Does a Medical Billing Com pany Provide?

MGSI LLC - Medical Billing Company

Introduction • •

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Accurate and timely billing is the key to healthy financial performance for any medical Practices or physicians.

Medical Billing is a cycle of process which involves various scopes of services handled by multiple professionals at different levels, hence the complexity of submitting cleaner claim at a higher first pass rate has always been a challenge and with all other areas like recruiting, training and supervising takes most of your time and focus away from your core which is patient care.

Considering all these intricacies many practices are now opting for Medical Billing outsourcing.

MGSI LLC - Medical Billing Company

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MGSI LLC - Medical Billing Company

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While considering to outsource your medical billing it is essential to know – what are the list of services provided by a Medical Billing Company?

What are the areas covered and taken care by the third party vendor?

A clarity on the services covered by a Medical billing company helps settle down most of the questions pertaining Outsourcing Medical Billing.

Read below to know what to expect from a Medical billing Company and the list of services provided.

MGSI LLC - Medical Billing Company

Complete Revenue Cycle Management Services •

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Medical billing Company provides a comprehensive solution covering all your medical billing and coding requirements to help you focus on patient care.

Major services provided include complete revenue cycle management solution covering end to end billing from Patient Demographic Entry to Accounts Receivable and Denial Management.

MGSI LLC - Medical Billing Company

Insurance Eligibility and Benefit Verification •

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Insurance Eligibility and Benefit verification is more critical given the current situation with Affordable Care Act where the coverage and benefit details vary from month to month.

Verifying Insurance and Eligibility protects your practice from unwanted stress far ahead.

Your medical billing services provider should be equipped with experienced and skilled professionals to handle the verification process efficiently and also inform you the patient responsibility in prior.

MGSI LLC - Medical Billing Company

Patient Demographic Entry •

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Outsourcing Patient enrollment and Demographic Entry to medical billing company saves lot of effort and time spent, paving way for fully focused patient care.

Demographic Entry involves collecting patient’s demographic and insurance information and entering into billing software.

Accurate and through data is crucial to submit clean claims which requires trained professionals from medical billing team to ensure maximum quality.

MGSI LLC - Medical Billing Company

Accounts Receivable and Denial Management •

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One of the most tedious and laborious task as it involves analyzing the overall claim for erroneous data and correct them, and then appeal with Insurance with multiple follow ups.

Most practices take a back seat when dealing with the claim denials and focus only new claims resulting in lost revenue.

Medical Billing Company tracks denied claims and works on filing the appeals within the Timely Filing Limit (TFL) and Appeal Filing Limit (AFL)ensuring every dollar due to the practice is claimed.

MGSI LLC - Medical Billing Company

Medical Coding •

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This process is the most challenging and liable to err, therefore it is advisable to have a streamlined professional approach in handling coding for each and every claim.

Any error in Medical Coding will lead to claims denial affecting your practice’s cash flow.

Outsourcing Medical Coding is recommended to ensure error less and quality coding by experienced, certified and professional coders.

MGSI LLC - Medical Billing Company

Charge Entry and Payment Posting •

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Charge Entry requires the staff involved to be on top of the current changes or updates in the Insurance fees schedule.

Similarly, Medical Billing companies also ensure payments received from Insurance, Patients and Secondary Insurance are duly posted against the claim and provide you with the report on the closed and pending claims.

Apart from the traditional billing and coding services, your medical billing services partner should also cover additional operational and support services as listed MGSI LLC - Medical Billing Company below:

Practice Management Services •

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A well-established Medical Billing Company provides you thorough analysis on your current financial set up and provide you a systemized billing and operational support.

Your medical billing partner should be able to allocate professional consultants to evaluate your current income, shortfalls and suggest advanced and streamlined approach for enhanced productivity.

MGSI LLC - Medical Billing Company

Fee Schedule Enhancement •

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Fee schedule for medical procedure needs to be reviewed for changes constantly and updated to curb shortfalls or revenue loss.

Many practices miss on reviewing the fee schedule and end up billing lesser that the allowed amount, which in turn affects your practice financial system.

Medical billing company has streamlined process to keep their staff up-to-date with the ongoing changes and keep abreast to ensure maximized reimbursement.

MGSI LLC - Medical Billing Company

Provider/Physician Credentialing Services •

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Getting providers enrolled with the insurance company and keeping them in-network is a cumbersome process which can be time consuming.

By opting for outsourced Medical Billing services, you can get away from the stress involved in physician credentialing as it is taken care off by your medical billing service partner

MGSI LLC - Medical Billing Company

About MGSI • •

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MGSI is a national medical billing and collection company providing end-to-end billing solutions to its clients.

With over 25years of experience, MGSI serves hundreds of physicians and medical practices providing one-stopsolution for all their medical billing needs.

MGSI is a fully HIPAA Compliant and BBB accredited company to protect PHI and provide quality services.

MGSI has a proven track record of more than hundreds of happy and successful clients across the United States.

MGSI LLC - Medical Billing Company

Contact us To know more about MGSI and its services  log on to Medical Claims Processing and Billing  Call us: +1 (877) 896-6474  Email us: info@mgsionline.com

MGSI LLC - Medical Billing Company

MGSI LLC - Medical Billing Company