Without the right medical reimbursement systems in place, practices of all sizes can struggle in maintaining consistent profits. This is especially true whenever there are deficiencies within the medical billing and coding systems that these offices use.
At Medical Bill Gurus, our medical billing specialists offer third party solutions to address and identify healthcare underpayments, claim denial issues, and provide streamlined resolutions to tackle revenue leakage and forsaken profits of medical organizations.
All businesses have the need and right to receive timely payments for services rendered to patients. While many companies in other industries get paid on the spot, the healthcare industry is another story entirely.
Delayed payments can place a considerable amount of financial stress on medical practices of all sizes, whose staff simply cannot afford to wait on medical billing revenue they are entitled to within a defined time period per prompt pay laws.
Unfortunately, many of these medical organizations do not have sufficient resources and experience on hand for coding and submitting requests for payments on a regular basis. Moreover, most growing practices simply cannot justify the overhead costs of hiring their own full-time, in-house billing specialists, particularly in comparison to third party services.
The good news is that there’s an increasing trend in outsourcing these responsibilities, and many practices have hired a third-party medical billing specialist with impressive results.