Technology continues to revolutionize our world and the healthcare sector is no exception. The advent of technology and new modern techniques have made life easier across the world. The emergence of technologies and tools like Electronic health records (EHR) have changed the face of the medical sector forever.
Medical healthcare providers outsource their medical bills to specialized companies which perform the painstaking task of keeping a record of all the medical and financial records of the patients with reference to the payments, codes, and other legalities.
There are many medical billing companies in New York that offer healthcare providers to get their jobs done. The task of providing par excellence medical bills to the patients is the job done by these outsourced medical billing companies.
Previously, the healthcare providers had to perform this task themselves while treating their patients and doing other administrative tasks as well. They relied largely on the referrals and codes made by the administrative staff.
The experts are of this belief that the old ways of compiling the records of patients are obsolete now as they were a waste of time and paper.
Without the help of electronic health records, the medical health provider would manage to examine only about 100 patients in a day. Now they can manage to treat about 250 patients in a day.
EHR is a blessing in disguise for the medical health care system as it has helped increase the consistency of good quality work.
In order to compete with the growing competition, reduce the cost of the organization, save lives, and get higher profit at the end of the day, the health care providers need to think out of the box and understand the necessity of medical billing companies and their importance.
Medical billing companies
One of the main reasons behind the popularity of medical health companies in New York is that the health providers are not fully equipped with the latest technology. They are experts in their work but when it comes to being equipped with modern technology they lack the expertise which causes them to spend more time than the experts. This is where the medical billing companies come into the picture.
These companies use user-friendly software so that the health providers and the patients can have quick access to the records for transparency and efficacy.
The medical billing companies are responsible to do the data-entry tasks, work on the computers, manage the day-to-day routine of the patients, and put all the medical services provided in the records along with the correct codes.
Medical billing companies use the best available software and technology in the market to deliver their job.
Even the medical health providers know that the financial bookkeeping of a medical health care organization is not as simple as it used to be in the past. They know that the data-entry system has become more concise and code-oriented and that this data-entry EMR saves them money and time. They can provide healthcare to their patients with ease and comfort while the painstaking job of financial record keeping is being done by their outsourced medical billing company.
Maureen Connors Potter from the joint commission on accreditation of healthcare organizations stated “quality and cost-effectiveness are not mutually exclusive. All stakeholders will benefit from more and better measurements.”
The executive director of the Leapfrog Group, Suzanne Delbanco is of the same opinion about the relationship between the medical billing companies and physicians. She said “the era of standardized yardsticks and openness is in its awkward adolescent stage. We need to help the healthcare system evolve to a whole new cultural norm of transparency where uniform information about the quality of care is shared freely.”
Medical billing companies handle the revenue cycle management and usually charge from 3% to about 10% of the total monthly income of the medical organization.
Healthcare practices and medical billing companies
It has become next to impossible for a healthcare practice to work in the industry without the help of a medical billing company. The medical billing procedure can be done in-house as well but because of the administrative costs and expertise required it becomes quite hefty on the pocket. Medical billing companies charge for their services and provide par excellence service in return.
Medical billing companies charge according to the services they provide. They actually bring the healthcare and the IT industry closer, thanks to the latest techniques used to compile medical financial records.
The companies’ rate varies according to their job description. Their pricing and fees, contracts, and the usage of the IT technology and software in their practice.
Bottom line
It is very overwhelming to see the medical healthcare system change its face because of the rapidly changing technology and newer techniques.
It is advisable that the medical health practitioners embrace these occurring changes with an open heart and try to adopt them in their daily routine as soon as possible as it will be beneficial for them in the longer run.
Embracing these latest technologies will also enable them to perform better at their job and increase the productivity and efficiency of the medical organization.
Medical health providers should acclaim themselves with the medical billing companies as this will increase their proficiency at work and will also bring more patients to their practice because of a trustworthy name for financial records attached with them.
