For OB/GYNs, medical billing is a difficult task. Because of the complexity and multiple rules, codes and phases that are involved in OB/GYN practice billing, revenue generation has been hampered by time constraints. Providers must pay special attention to each patient’s medical, insurance, and demographic details in order to assign codes and other requirements.
There are several factors that can cause complications in OB/GYN collections.
- Patient collection process
- Multiple-procedures rules
- Inconsistency in pregnancy care
- Multiple diagnostic tests can lead to complex problems
- Broken global
- Pregnancy coverage
There are many forms involved in submitting a claim. Even a slight error in documentation could result in denials. OB/GYN providers have been under tremendous pressure because they have had to meet various industry-related coding requirements and billing needs, such as HIPAA and ICD-10, bundled payment and pay-for performance. These factors have had a significant impact on cash flow, affecting it by 7-10%. Additionally, they have prompted the need for outsourcing OB/GYN billing in order to increase profit margins.
How can outsourcing increase revenue?
Outsourcing has proven to be a boon to OB/GYN providers in a time where healthcare reforms have made it difficult for providers to focus on the complexities of coding or billing.
- A well-respected billing partner will have a team if coders and billers who will handle the entire revenue cycle for your practice.
- To improve income and collection, insurance companies will conduct regular follow-ups
- You will have full control over your revenue cycle, billing and payments, even after you outsource.
- Access to patient and financial data is available 24/7, as well as practice management reporting.
- For billing and coding tasks in your practice, we will use the most recent technology and procedures
- Certified coders will make sure there are no errors in billing, documentation or coding
- Even if you’re on holiday, your billing needs will be met
Outsourcing can provide a web-based solution for all your medical billing issues. Outsourcing will allow you to focus on patient care and meeting the pay-for performance requirements.
Medcare MSO has the largest consortium of billers and coders that are well-trained in offering affordable OB/GYN medical billing services. Our services can improve your practice’s financial performance by handling all aspects of billing, including charge entry, claims submission, denial management, and revenue follow ups. Our certified coders use the most recent technology to ensure accuracy. Our goal is to assist OB/GYN practices in reducing costs and increasing revenue, according to state, federal, and local laws. You can choose to take the whole suite of our services, or you can customize it according to your practice’s needs.