Medical billing and claim reimbursements are a vital part of the healthcare industry and medical practices, across the United States, have to ensure their overall effectiveness. This is primarily because a healthcare clinic, a nursing home, or a hospital can only survive and sustain itself if it’s getting paid. That can only happen when the healthcare services provided by these practices are being billed cleanly without any errors. However, studies suggest that a large number of practices lack effective resources for prompt billing, leading to an average 20%-low revenue collection resulting in financial stagnation for such practices. This eventually impacts the overall patient care services provided by such practices as doctors and physicians eventually face distractions.
This is why I-Med Claims LLC is offering such medical practices an opportunity to increase revenue collections and decrease A/R levels to the minimum. With our premium medical billing services, we have been able to maintain a claim acceptance rate of 99%, which is unmatched by any other medical billing company in the United States. Therefore, it is high time you choose a professional medical billing organization to provide you with the necessary support you require to keep your medical practice financially as well as operationally healthy.
With all those Account Receivables still pending and those excruciating claim denials affecting revenues, an independent medical practice needs to ask itself that million-dollar question— “Is my practice truly independent?”. The answer to this question is still ambiguous to many medical practices across the United States. However, there is a solution to all your medical billing problems that are negatively impacting your revenues.
Medical Billing Solutions by I-Med Claims LLC are the answer to all medical billing and coding issues that are holding you back from growth. This is why you should easily avail these services to make your life easy and focus primarily on patient care rather than worrying about the fluctuations of your revenue collections.
Small-scale medical practices operate with limited resources and require efficiency in their revenue collections. Smooth cash flows are crucial to keeping such private practices operating in a sustainable manner. This is why our medical billing for small-scale practices and RCM services for physicians are designed to provide maximum support and value to private practices.
Our medical billing consultants are available 24/7 in order to provide you with the critical customer service required to take your practice to the next level.
This is why our RCM Medical Billing solutions are just right for your private practice and the best part about our medical billing packages is that they are highly affordable—starting at just 2.95% on monthly collections. We provide custom medical billing plans for private practices in order to fulfill all of your necessary medical billing requirements for high claim reimbursements. This is why we have a claim reimbursement rate of 99% in the billing industry.
The HIPAA Compliance Act was legislated back in 1996 with the aim to ensure the privacy of any protected health information [PHI]. This is why professional medical billing companies in the United States are required to observe HIPAA compliance at all costs. This is why a revenue cycle management company can only be trustworthy if it fulfills all standards outlined in the HIPAA Act.
I-Med Claims LLC is a completely HIPAA Compliant medical billing organization in the United States, providing practices with secure medical billing in line with all privacy protection standards. We make sure that your Protected Health Information [PHI] remains secure throughout the medical billing process. This is one of the major reasons why medical practices feel comfortable outsourcing their medical billing to a professional RCM billing company such as I-Med Claims.
We are the best medical billing company that offers customized and best RCM Solutions across 50 States of the US, i.e Medical Billing Services in California, Texas, Florida, Alaska, New York and other states.
According to the US healthcare system, medical practices have to file claim reimbursements to insurance companies for the services they offer to patients. This is why it is necessary for these practices to have smooth revenue cycle management systems to collect their revenues.
The difference can be understood as part and whole. The Revenue Cycle Management is a set of complete end-to-end services that include medical billing and coding as a part with a gradual flow from eligibility verification and credentialing to payment posting and appealing denied claims.
Whether it is your internal practice medical billing or family practice medical billing, the top 5 denials are the following:
The golden rule in the medical billing and coding domain is to never code or bill it if a certain service is not documented in the medical record. Clinical documentation is used primarily to justify claim reimbursements to payers in case a conflict takes place.
Almost all medical billing is done to insurance companies other than the copays. However, the major difference lies in the ICD-10 coding that is used for the purpose. This means that if you are billing for neurology services, the ICD coding will be different from the time you’ll be billing for emergency care services.
Claim Denials are considered to be a major challenge for medical practices because appealing such denials for reimbursements consumes time and effort.
The two major types of claim denials include soft and hard denials in medical billing. The former ones can be reversed and are based on minor mistakes and managed by correction while the latter ones are serious ones that are irreversible and result in lost revenues.
Medical billing modifiers or CPT modifiers are codes that allow a medical practice to indicate if a certain service or procedure has experienced change or alteration. They are used by medical practices and medical billing companies across the United States.