How does it operate?

Doctors all throughout the country have been finding it difficult to locate an expert who can take on their administrative responsibilities so they may focus on the difficulties of delivering high-quality medical care. While the majority of doctors would much rather have a specialist handle the reimbursement process and optimize their income, they are constantly searching for others to handle their revenue cycle management.

Medical Billing Solutions for Physician Groups

Physician groups are increasingly opting for centralized medical billing services. Centralised billing systems help in cost sharing and utilization of resources effectively. This leads to saving time, increased patient care, and is a lucrative approach of running the clinic.

Physician groups who employ an internal billing system frequently run across the following issues:

• Lack of experienced employees and resources available for medical billing in the market; staff management and retention; seamless claim realization
  a significant portion of cash being spent on renting space for activities and storage linked to medical billing
  
  
• Regular administrative and processing assistance expenses and overseeing multiple vendors
  
  
• Time and attention constraints since the same resource must be used to manage daily operations and generate the most money
  
  
• Dedicated oversight and a group to keep an eye on and stay informed of any changes
  
  
• Handle claims, Gather receivables (A/R), and be concerned about cash flow
  Coders and Billers for Medicine (PBC)

offers proactive, full-service medical billing outsourcing and aids in reducing the aforementioned issues that medical groups frequently encounter. We handle every step of your revenue cycle, starting with the initial

patient interaction to claim reimbursement. We prioritize accuracy and adhere to the most recent criteria to ensure that your medical insurance claims are submitted error-free. By processing claims through our skilled and committed team, utilizing the billing software appropriate for your practice, and by properly following up on the submitted claims, we assist in attaining timely income flow.

For what reason do medical groups contract out their billing services?
A dedicated team handles Health Insurance Portability and Accountability Act (HIPAA) compliance.
Lower office costs, such as those associated with operations and administration, will increase income.
Boost the number of patients you see: 

• More time to develop your practise and provide your patients with high-quality treatment
• Increased employee experience, robust systems, and combined resources
• Owing to a demanding workload and to eliminate the backlogs in workload
  In order to promote the adoption of new platform modifications like ICD 10
  Reduce the expenditures of hiring more staff and building an office during your expansion.
• Reduce staff absences and illness-related downtime
  freedom to concentrate on the primary duty and Gain more authority over your company
• Reduced A/R and delays in payments
• Cut Down on Rejected Claims

In addition to the previously mentioned benefits, the primary reason that outsourcing is a fantastic choice for physician groups is that it significantly increases revenue collection. Physicians that outsource to a dependable partner like PBC report a 40% increase in net revenue. For physician groups, outsourcing medical billing and collections might actually boost profits by around $254,000, or 20%.