What Services Does a Medical Billing Company Provide?

1
What Services Does a Medical Billing Company
Provide?
MGSI LLC - Medical Billing Company
2
Introduction

• 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
3

• MGSI LLC - Medical Billing Company

4

• 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
5
Complete Revenue Cycle Management Services

• 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
6
Insurance Eligibility and Benefit Verification

• 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
7
Patient Demographic Entry

• 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 patients
  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
8
Accounts Receivable and Denial Management

• 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
9
Medical Coding

• 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 practices 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
10
Charge Entry and Payment Posting

• 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 below

MGSI LLC - Medical Billing Company
11
Practice Management Services

• 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
12
Fee Schedule Enhancement

• 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
13
Provider/Physician Credentialing Services

• 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
14
About MGSI

• 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-stop-solution 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
15
Contact us

• To know more about MGSI and its services
• log on to Medical Claims Processing and Billing
• Call us 1 [phone]
• Email us info_at_mgsionline.com

MGSI LLC - Medical Billing Company
16

• MGSI LLC - Medical Billing Company