Denial management is essential to medical billing because it ensures that healthcare providers get paid what they are owed. According to the Healthcare Financial Management Association, the average healthcare provider experiences a denial rate of 5-10% of their total claims submitted. This can cause providers to lose a lot of money, so managing denials is important in staying financially stable.
The healthcare industry is constantly evolving, and with changes come new challenges. With the rise of high-deductible health plans and more rules from the government, it’s become common for healthcare providers to have their claims denied. The monetary impact of denied claims can be mitigated, and revenue maximized through efficient denial management.
Medical billing is collecting and processing claims for different types of healthcare services. It involves tracking patient information such as insurance coverage, deductible amounts, and other details about a patient’s medical history to ensure that all patients receive appropriate care.
Also, a baseline of charges is established for each patient who received care to calculate the amount owed by insurance companies and third parties.
Medical billing is a crucial part of the healthcare system, as it ensures that all insurance companies and patients receive their respective share of the cost of treatment.
We take HIPAA compliance very seriously and have implemented strict policies and procedures to ensure that all patient information is confidential and secure. We also regularly review and update our security measures to ensure they are up-to-date and effective.
We offer various medical billing services, including billing, coding, and collections. We also offer specialized services such as Credentialing, Denial Management, Account Receivable, and Virtual Medical Scribes.
Keeping up with the constantly changing regulations and medical billing requirements can be time-consuming and overwhelming, especially for small practices. Outsourcing your billing to a professional service can save you time and money and ensure that your claims are processed accurately and efficiently.
Outsourcing your medical billing to Doctor’s Revenue Services can save you time and money while ensuring that your billing and coding are accurate, up-to-date, and fully compliant with all relevant regulations and standards.
Our team is composed of highly trained and certified medical billing and coding experts with years of experience in the industry.
Also, a baseline of charges is established for each patient who received care to calculate the amount owed by insurance companies and third parties.
Medical billing is a crucial part of the healthcare system, as it ensures that all insurance companies and patients receive their respective share of the cost of treatment.
Contact us today to schedule a consultation, and we’ll help you get started with our services.
We truly care about our clients and their success. We take the time to understand their needs and tailor our services accordingly. We also have a team of professionals who are passionate about what they do and are committed to providing the best possible service.
Initial credentialing typically requires a completed application, proof of education and training, and verification of licensure and insurance.
The cost of credentialing can vary depending on the healthcare organization or insurance company. At Doctor’s Revenue Services, we strive to provide affordable and competitive pricing for our clients.
In medical billing and coding, common mistakes occur. Most of these need to be corrected: incorrect patient information, coding errors, incomplete documentation, not verifying insurance coverage, improper use of modifiers, duplicate billing, missing filing deadlines, failing to follow up on denied claims, insufficient training and education, and ignoring updates and changes.
Such mistakes might result in refused claims, delayed payouts, compliance problems, and missed revenues.
