Telehealth / Telemedicine
Posted on December 7th, 2020 / Under Uncategorized / With No Comments
COVID-19 has not only changed the manner in which patients receive medical care but has also caused an upheaval in billing procedures. Early in 2020, CMS (Centers for Medicare and Medicaid Services) moved quickly to implement coding changes for telemedicine care. With the wide variety of virtual services available for Medicare, Medicaid, and private insurance patients, billing is now more complicated than ever.
Has your office kept up with the many pages of new virtual care regulations? Has your staff been downsized to the point that it is difficult for them to receive the training needed? Your office may not be realizing all the full compensation your services are entitled to receive.
Are you aware of the many different services available via telemedicine now? Virtual routine healthcare such as wellness visits are the biggest benefit in preventing the spread of the coronavirus, but nutrition and mental health counseling, skin care, and medication consultations are also encouraged.
If your office has not started using telehealth yet, it is something every doctor’s office needs to be taking advantage of. A virtual visit requires 2-way communication technology which is readily available on many secure platforms. Video streaming is typically used, but some virtual visits can be done with voice communication alone. Although some services require in-person visits, telemedicine can generate up to $600 annually for patients needing chronic health management.
Our team of experts at One Source Medical Billing will take the confusion out of the medical billing process and increase your bottom line while freeing the rest of your staff to provide the best possible care for your patients. We are a full-service billing service, handling the initial claim, resubmissions, dispute billings, and payment posting, as well as balance billing to the patient.
Virtual healthcare does not have to be complicated. Let One Source Medical Billing make it easy for you while increasing billable revenues. Call us today for a consultation at 888-624-5563Read More...
One Source Medical Billing and Covid-19
Posted on July 8th, 2020 / Under Uncategorized / With No Comments
You can’t watch a single news broadcast that doesn’t talk about Covid-19, but as a medical provider, you don’t have to watch the news to be reminded of how Covid-19 is impacting your practice. You are dealing with Covid-19 on a daily basis, perhaps with a decreased patient schedule or possibly an increased patient schedule now that things are opening up again.
In-office visits take longer with social distancing requirements, checking temperatures, and extra sanitizing between patients. Unavoidable staff reductions have made this process more difficult.
Worse yet, maybe some of your staff has contracted Covid-19. No matter what the cause, if your staff decrease is in the billing department, your billing process has been disrupted. Billing disruption means a decline in your bottom line. One Source Medical Billing can help you get back on track.
Maybe you are conducting a lot of telemedicine visits. Telemedicine is being used to address most of the non-urgent health issues with three main telehealth options.
• Telehealth Visits: Phone or video conference via a telecommunication device.
• Virtual Check-Ins: Contact by phone (or another secure communication portal) to determine if an office visit or other intervention is needed.
• E-Visits: Patient and provider communication through a secure online portal.
The increase in telemedicine visits requires new filing procedures that your billing department has never encountered. The transition to telemedicine has been difficult for many healthcare practices due to the frequent changes in payment requirements and new codes being established for visits related to the coronavirus.
Is your current billing solution on top of timely billing and diligent follow-up on your claims?
One Source Medical Billing is offering a free comprehensive audit to determine the health of your current billing cycle and reimbursement percentages.
A One Source Medical Billing audit can show if you are receiving the maximum reimbursement due to your practice or where improvements can be made. Call us today at 888-624-5563Read More...
Why Your Practice Needs Our Free Third-Party Medical Billing Audit
Posted on January 26th, 2020 / Under Uncategorized / With No Comments
Are you getting optimal billing results in your practice? Are your claims getting a high number of denials? One Source Medical Billing (OSMB) offers auditing of your claims to find any issues you may be having, either on the front end or the back end of the claims process. By pinpointing specific issues, OSMB can improve claims management and boost reimbursements.
OSMB will review the full revenue cycle of your practice for the past year to locate the billing improvements needed to boost your overall payment success. These are a few examples that can delay clearing your insurance Accounts Receivable (A/R):
• Denied claims with no follow-up: Some claims in the active A/R may have been denied, but the denial was never received or have been posted and the cause of the denial was not resolved. Insurance companies can deny reconsideration if not resubmitted on time which can result in lost revenue.
• Incorrect Payment Posting: Erroneous payments and adjustments leave the A/R with false balances and can delay the collection of proper reimbursements from secondary insurance or private payments.
• Delayed Payment Postings: Untimely insurance payment postings will provide false A/R turnaround values.
• Missing Payments: Missing EFTs or payments mailed to the wrong address can be found with simple claim follow-ups.
• No Active Insurance Coverage: Lack of proper insurance verification of all patients can lead to denials based on “no active participant found” or “no active coverage at the time of service.”
• No Claims on File: A common delay in claims processing is simply that the insurance company did not receive the claim. Whether lost in transmission or stalled in a clearinghouse, these claims need to be resent promptly.
The OSMB audit will break down all practice claims results into categories for a specific review of areas needing improvement in your revenue cycle, as well as show you where your billing cycle is working as it should. This audit report can help improve your bottom line and increase our revenue by showing if some minor adjustments are needed, or additional training might be required. Can you afford NOT to have our free audit? Call us today at 888-624-5563.Read More...
Is Your Practice Making a Huge Mistake?
Posted on December 30th, 2019 / Under Uncategorized / With No Comments
One of the costliest issues for a medical practice is that of claim denials. They cost the practice revenue by delaying payments. They slow the work efficiency, by forcing you and your staff to resubmit old claims in lieu of working on current claims. In general, they add frustration to the already hectic workday.
Even the most scrupulous medical billing departments receive claim denials, but by avoiding the most common mistakes, your practice can reduce the denial rate significantly.
Here are some of the top medical billing errors:
1. Coding is not correct
2. Coding is not specific enough
3. Patient information is missing
4. Patient information is incorrect
5. Claim information is missing
6. Claim not filed in time
How do you avoid these mistakes? One answer is this: You pour over claims with a fine-toothed comb prior to submission and become a coding expert in your spare time.
If that does not sound appealing to you, try using a medical billing company staffed by experts in the field to take the burden off of your staff and streamline the process for your practice. This is a proven method to reduce the number of submissions of incomplete and inaccurate claims that could result in denials, in turn increasing the number of payments you receive.
Harnessing the experience of dedicated medical billing professionals will accelerate the speed with which your practice receives payments and decrease your rate of denials, improving your practice’s bottom line and saving your sanity along the way. Additionally, it will allow your practice to focus solely on what really matters: the patients.
One Source Medical Billing has the experience and expertise to reduce claim denials to reduce redundancy on the part of you and your staff. Learn more about how your practice will benefit by completing a FREE comprehensive audit with our staff.Read More...
5 Ways Outsourcing Your Practice’s Medical Billing Can Increase Profitability
Posted on June 11th, 2019 / Under Uncategorized / With No Comments
Physician practices nationwide are feeling the burden and frustration of increased regulation, mounting administrative duties, decreased reimbursements, rising costs, and changing payment models. In fact, a recent survey conducted by the Medical Group Management Association found that nearly nine in 10 medical practice leaders said that the overall regulatory burden has increased in the past year. Additionally, 76 percent of physician respondents feel these changes have not improved the quality of care for patients. (1)
Many believe that these increased administrative burdens are a significant contributor to the soaring rates of physician burnout. As physicians and healthcare leaders question the direction of the healthcare landscape, some practices are seeking new ways to reduce their administrative burdens and increase profitability.
More and more practices are looking towards outsourcing their revenue cycle management, medical coding, and medical billing as a way to help improve profitability, reduce administrative duties, and increase reimbursements.
There are a multitude of benefits that outsourcing can bring to a practice including:
1) Allows for more time spent on patient care- Medical practices that outsource these services are able to spend more time focusing on providing excellent quality care to their patients.
2) Reduces administrative duties- Practices that outsource spend less time handling phone calls regarding claims, pre-authorizations, and communicating with insurance carriers and third-party payers. This time is better spent responding to patients, and managing other day-to-day operations.
3) Reduces overhead costs – Practices that outsource their medical billing, save on salaries, office supplies, office space, software, and computer equipment.
4) Increases profitability- Medical Practices that outsource revenue services experience a decrease in overhead costs, an increase in more timely submission of medical claims, reduced coding errors, reduced denials, and increased reimbursements.
5) Improves patient satisfaction- One of the most important benefits of outsourcing medical billing is the ability to spend more time with patients which results in better quality care and higher patient satisfaction.
If your medical practice is looking for ways to reduce costs, decrease administrative burdens, while improving profitability, please contact the experts at One Source Medical Billing. Let our highly trained specialists work for you!
Contact us at 888-624-5563 or [email protected] for a free consultation.
Enough is Enough: It’s Time to Outsource Your Medical Billing
Posted on May 3rd, 2019 / Under Uncategorized / With No Comments
There is no debate about the value of medical billing services like One Source Medical Billing. However many practitioners either haven’t heard of this easy and obvious solution or haven’t bothered to learn anything about it. In these uncertain times, it’s important to be clued up on each and every resource that might increase your revenue and secure your business’s future. There are clear imperatives to outsourcing your medical billing, we’ve included 3 below.
Free Audits can find the holes in your revenue streams
Companies like One Source Medical Billing provide a free comprehensive Audit of your practice when you sign up. This will help identify what is past due and where your revenue streams are failing. This initial audit is key to producing a roadmap and strategy that to take the business forward.
The audit will identify where you could be losing revenue, which allows us to lay the groundwork to increase your revenue streams. We do this by ensuring the correct billing codes are entered and overdue payments are followed up quickly. Our team of billing and coding experts knows how best to classify your work and is aggressive in their pursuit of your hard earned cash.
Weekly reports provide clear and concise updates
If you already outsource your billing solution but are not receiving weekly reports it might be time to find an alternative solution. Some billing firms, such as One Source Medical Billing, provide up front and reliable weekly status reports. We provide data driven insights to fine tune your revenue streams. This allows you to see exactly where your money is going and what they’ve done for you recently. Many other solutions take your money and fade off into the background without really showing you what they have done. You need a provider that is clear and communicative.Read More...
Can You Lose Your License Over Medical Billing?
Posted on April 1st, 2019 / Under Uncategorized / With No Comments
If you read through your copies of First Aid for the USMLE, parcelling through all the information you desperately crammed into your brain for the USMLE Step 1 and Step 2, you probably won’t find any information on medical billing. Correct coding or procedures and diagnoses is a large part of any good physician or surgeons day, yet represents 0% of the United States medical school curriculum. Whilst that’s not surprising (I mean who needs to remember the 70 000 odd billing codes provided in the ICD-10) it does overlook how important the entire process is. In fact, in some cases doing it incorrectly, could land you in hot water.
Medical billing services often tell you the positive changes they bring about in your business – eg the improvement in cash flow and a better more reliable revenue stream that helps you focus on treating patients. After all, you trained as a doctor and not an accountant. However, these services often don’t tell you about another important service they can provide to you. The industry can provide excellent defense against fraud charges filed against the practice.
How does this work? Having a poor understanding of how medical billing and coding works could leave you entering incorrect billing codes. This, down the line, may lead to lawsuits. The most recent example of this was a plastic surgeon in New York who found himself in hot water over incorrect billing. The board for Professional Medical Conduct is set to hear the case and decide on the doctors medical licensing status. Misrepresenting the work you have done – even in situations where this was not intentional – is deemed a serious misgrievance by the board and should be taken very seriously.
Can you lose your license over medical billing? The answer, unfortunately, is yes. How can you prevent this? Medical billing services like One Source Medical Billing.Read More...
Are You Sure Your Current Billing Solution Is Maximizing Your Profit?
Posted on February 4th, 2019 / Under Uncategorized / With No Comments
If you’re a physician or a health provider who has worked so hard to attain a certain level in your career and you are still having serious issues with your Medical Billing Provider, then you must have skipped some of my blog posts. The joy of every physician is to enjoy every penny you’ve worked for but after you’ve carefully looked before you leaped into the wrong billing hands. Nobody is above mistakes, but a mistake can be corrected.
How will you know if you’re on the right track? How can you tell if your biller is actively working on your claims? It’s simple…
1. The billing method is fast-tracked from both ends. As silly as it may sound, but to be honest, sometimes, insurance companies and patients don’t always follow through on payments. This is where the medical biller comes in to ensure a smooth flow of claims charged to generate revenue to the physician in question.
2. The medical biller won’t just take up only the billing part, but also maximize profits for you.
3. The medical biller will do a comprehensive audit of your practice.
4. From the audit, the medical biller will develop a roadmap and strategy to work with you to help your practice.
It’s basically simple, challenging and daring to contact a reliable and dependable biller amidst many billers for your business. One Source Medical Billing is one of the most recognized Medical billing agencies with reliable, hardworking and skilled employees handling heavy-duty tasks for physicians across the states. Our mission is to expedite our clients’ reimbursement while delivering excellent service with great communication, so they can be free of financial worries and focus on serving their patients.
You could be losing hundreds of thousands of dollars a year if you entrust in the wrong biller. Let One Source Medical Billing help by doing a FREE comprehensive audit and show you the reality like in our ad.Read More...
Medical Billing Profitability in 2019
Posted on January 3rd, 2019 / Under Uncategorized / With No Comments
Medical billing is profitable when a Medical Practice uses the services of an experienced medical billing company, which has over-time continuously trained its people, to oversee the processes of submitting and following up on claims with health insurance companies.
There’s a high tendency that revenue being generated would never be as high as it would be, with in house billing. As a matter of fact, which is statistically proven, over 40% of a physician’s revenue ends up becoming lost due to loopholes and mistakes people make in the medical billing processes.
In times past, we’ve had complaints from various health providers and have come up with the best strategical ways of improving your medical billing profits in 2019. I’m going to be listing few of these tips below:
1. Coding and Billing:
Medical billing is not the same as Medical coding. They are two different things entirely, even though they work hand in hand towards achieving same goals. A medical coder reviews clinical statements and assigns codes while a medical biller processes and follow up on claims. If an office should make the mistake of employing an inexperienced coder or an amateur biller, such medical practice stands a very high risk of losing valuable profits.
2. Insurance Verification:
As simple as it may look, insurance verifications can be so confusing which is why is so paramount to acquire all the identifying information from the patients before a claim is initialized. Prior to this, the billing department will be able to bill the exact payer the first time, thereby preventing delays in compensation.
3. Rapid & Aggressive Follow Up:
Despite the daunting tasks the billing department faces on a daily basis, they still create time to follow up on all the enquiries they receive. Failure to do so might lead to a slight delay in the physician’s income.
4. Verify Real & Exact Payments:
It is important to always cross-check for payments that hasn’t been made yet in order to maintain a 100% efficiency ratio.
5. Dispute Denied Claims:
There’s a possibility that a claim can be voided or unattended to, however, to fast-track these payments, a medical billing department has to follow up on all denials.
You could be losing hundreds of thousands of dollars a year if you entrust in the wrong biller.
Let One Source Medical Billing help by doing a FREE comprehensive audit and show you the reality.
In House Medical Billing vs Outsourcing Medical Billing
Posted on May 16th, 2017 / Under Uncategorized / With No Comments
Many healthcare providers are now turning to outsourced medical billing. But what are the pros and cons of in house medical billing and outsourcing? Is there really any difference?
Healthcare providers like to have control over every aspect of their business. In house billing can provide providers with this control. It allows you to pick your own staff and run every part of the billing process. This could be a disadvantage to outsourcing medical billing. However, many providers do not completely understand the billing process and hiring their own staff can actually be a disadvantage! These staff may not be the best at what they do, and this can lead to a number of issues including getting caught up in red tape and decreased revenues.
When it comes to your time, outsourced medical billing is the clear winner. Outsourced medical biller like One Source Medical Billing will take control of every aspect of the billing process. Outsourced providers like One Source Medical Billing hire the most experienced staff who are fast and efficient at what they do. In house staff are a lottery pick at best. If you don’t understand the myriad of red tape around the system, it is incredibly difficult to know how well a member of staff will perform.
Jumping the Legal Hoops
In house medical billing is at a significant disadvantage to outsourcing when it comes to mediating the mountains of red tape associated with the billing process. In the past year alone codes have increased more than 3x. That massive increase in complexity is unrelenting and looks set to continue. In house medical billers often find it difficult to keep on top of all this paperwork. However outsourcing medical billing does not always have this problem. Our experienced staff work with multiple clients and bring experience from different healthcare providers.
A massive upside to outsourcing medical billing is that you get to focus on the most important thing to your business, the patients. Not having to deal with the hassle of hiring in house staff or chase up non payers means you have more time to do focus on the patient’s. This is the bottom line of any business, and more time spent with patients always equals a better business.
In conclusion, whilst outsourcing your medical billing may relinquish some control, the benefits significantly outweigh the small downsides. As a health care provider, outsourcing means you get more time to focus on the patients and less time spent dealing with irritating legal hoops. You are likely to find your revenue stream is faster and more constant. Overall, outsourcing to medical billers like One Source Medical Billing is the clear answer.Read More...
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