Benefits of Outsourcing Medical Billing to Improve Your Practice

1
Benefits of Outsourcing Medical Billing to
Improve Your Practice
www.mgsionline.com
2
(No Transcript)
3
Introduction

• As new and evolving developing medical reforms
• revolutionize the US healthcare industry,
  Providers and medical practices have started
  making preparations
• provisions to anticipate more such changes.
  Adapting,
• learning, and executing are the only things that
  can help
• them to survive the present scenario. Thats the
  reason
• why many Practices decided to outsource their
  medical
• billing while others are still contemplating
  whether its the right choice. This article will
  shed light on the numerous
• benefits that medical billing outsourcing has to
  offer.

www.mgsionline.com
4
Enhance the Billing Performance

• Most of the medical billing and coding errors are
  due to the transition of ICD-9 to ICD-10
• coding technique. Reputed medical billing
• companies come with skilled professionals
• who are well-trained in the new coding
• technique. Therefore, the probability of errors
  occurring in medical billing operations is
• very less. Partnering with such medical
• billing outsourcing companies will enhance
• your medical billing performance to
• manifolds.

www.mgsionline.com
5
Allows to Focus on Patient Care

• The prime primary focus of Providers and
  healthcare
• practices is patient care. However, most of them
  fail to do this as they spend more time
  struggling with handling
• medical billing and operations, handling claim
  denials
• and following up on outstanding AR. By doing
  medical
• billing outsourcing, Providers can stop worrying
  about
• medical billing and other operations and focus on
  patient care.

www.mgsionline.com
6
Stay Updated with New Technology Software

• The outset of new medical reforms has
• called for new technologies and software
• system upgrades. In reality, investing in
• technology and software system upgrades or buying
  new ones is extremely expensive. However, medical
  billing outsourcing
• companies already come with such
• high-end gadgets to cater to all their
• clients medical billing needs. So, why
• invest on new upgrades when outsourcing costs way
  less?

www.mgsionline.com
7
Stay Compliant

• Staying compliant to the present standards is
  another
• important factor that all Providers and
  healthcare
• facilities should concentrate focus on. To ensure
  high
• information security, many reputed medical
  billing
• outsourcing companies come with the HIPAA
  compliance certification. Partnering with such
  companies would be
• the best bet to protect your PHI to the highest
  level.

www.mgsionline.com
8
Timely Filing of Claims and AR Follow-up

• Revenue generation of a medical practice
• depends on timely filing of claims,
• handling denied claims prudently and
• following up on AR before it ages more
• than 90 days. Amidst the front-end and
• patient care services, Providers struggle
• with the back-end operations that have
• become more complicated in recent days. Medical
  billing outsourcing companies
• make sure that all claims are filed and
• outstanding AR is cleared on time.

www.mgsionline.com
9
Less Costs More Revenue Generation

• One of the greatest advantages of medical billing
  
• outsourcing is cost-cutting. Once healthcare
  practices
• partner with medical billing companies, they
  dont have to worry about the costs involved in
  training/employing staff, office supply, and
  buy/upgrade technology and software systems.
  Thanks to the flexible price! Providers can pick
  what type of medical billing service they need
  and pay
• only the price for that particular service. It
  saves ample
• costs while improving revenue generation.

www.mgsionline.com
10
Patient Satisfaction is Key

• When healthcare organizations partner
• with medical billing outsourcing companies, they
  can concentrate on their core
• business, patient care. More patients are
• likely to return if you render the best care.
  Therefore, patient satisfaction is key to
• maximizing your organizations revenue
• generation.

www.mgsionline.com
11
About MGSI

• If you are on the lookout for the most
  experienced and
• reputed medical billing company in the US, then
  consider partnering with MGSI. This medical
  billing outsourcing
• company has been offering exceptional healthcare
• services to its clients for more than 20 years.
  Based in
• Florida, MGSI is an A rated company with 
• Better Business Bureau. It is HIPAA compliant,
  ensuring high levels of security to patient
  information. To learn
• more details, log on to www.mgsionline.com.

www.mgsionline.com
12
www.mgsionline.com