Top Ideas to Improve Your Medical Billing and Collections

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Top Ideas to Improve Your Medical Billing and
Collections
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• Every Physician and Medical Practice strives
  toward improving the Medical Billing process and
  achieving better collections.
• However, end up depleting all of their efforts
  and focusing on patient care and quality
  treatment, apparently as that is the core of
  their business.
• As a result, obliviously improvising the 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

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Essential steps to Improvise Medical Billing

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

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Dedicated Billing and Coding Team

• Having a dedicated Billing and Coding team is a
  prerequisite for any practice irrespective of its
  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 handling the billing
  and coding can eliminate such circumstances and
  help practices handle claims processing on a
  daily basis without delay on a timely filing
  limit.

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• Internal Audits on Billing and Coding

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

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Internal Audits on Billing and Coding

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

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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 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 standardizes claims processing with increased
  collections.

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Read below to understand how outsourcing can help
achieve targeted results

• A dedicated team of expertise for each scope of
  service
• Trained, experienced, and skilled billers and
  coders
• A streamlined process for standardization and
  efficiency in claims processing
• Excellent Denial Management and AR follow-up to
  keep your claim denials ratio at minimum at any
  given point
• Regular claims audit to meet the standard quality
  percentage and reduce the 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

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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)

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THANKS!
Mgsionline.com
For more info 877-896-6474