Medical Billing and Coding Services
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Medical Billing Services
Inaccuracies in medical billing can lead to massive losses for healthcare providers. This can be particularly overwhelming for healthcare institutes inundated with their daily tasks leading to several claims being ignored due to lack of follow-up, inadequate documentation, and billing and coding deficiencies, among others.
Partnering with a trusted medical billing services company can help healthcare organizations optimize their collections. There are several aspects of healthcare revenue cycle management that need to be adhered to when processing claims. Discrepancies in any step of the process can lead to increasing rejections and delay the collections. With Vitality as a medical billing partner, healthcare providers receive optimized reimbursements and collection processes, HIPAA-compliant settlements, and reduced claim rejections that maximize revenue.
What Is Medical Billing?
Medical billing services form an integral component of the revenue cycle management process in the healthcare industry. This service constitutes submitting claims to the health insurance companies and communicating with patients to receive payment for services provided by the healthcare professionals.
As this is a specialized field, medical billing solutions need to be accurately coded and compliant with all necessary regulations before they can be processed. This mandates an in-depth understanding of the industry services, compliance requirements, documentation, and processes. Outsourced billing services provided by experts in the field can help ensure timely submission of complete documents for faster processing of claims with minimal denials for an optimized revenue cycle.
Are Medical Billing and Medical Coding the same?
While both these services are important for an optimized financial system, they are not the same. Medical coding services involve processing the clinical documentation and assigning the relevant codes based on the services provided.
Once the codes have been assigned, the medical billing vendor processes these claims and liaisons with the health insurance companies to ensure these claims are paid in full. In case of any rejections, the medical biller follows up with the updated claim timely.
Medical billing and coding services are different but need to work in tandem with each other for an optimized revenue cycle. As in-house healthcare financial teams are often overwhelmed with their day-to-day processes to navigate these aspects, many opt for expert medical billing and coding outsourcing solutions.
What does a Medical Billing and Coding Services Company do?
Medical billing and coding experts ensure that the financial processes of the healthcare practitioners are optimized for maximum revenue collection. Once the healthcare professional has performed the service, the documents are sent for medical coding. Here, the relevant codes are assigned using the CPT®, HCPCS Level II, and ICD-10-CM classifications.
Next, the medical biller collects the coded documents along with all other case-related and insurance documentation for submission. The medical biller also follows up with patients and insurance companies regarding the claim, to ensure any denials are corrected and resubmitted for reimbursement.
All these processes require a detailed understanding of the healthcare and revenue cycle billing services. Often, in-house officials are unable to meet the demands of these processes due to lack of time, insufficient data, or lack of follow-up leading to decreased revenue and severe financial losses. Partnering with trusted experts that are able to minimize denials and optimize the process is a major reason healthcare practitioners choose to outsource medical billing services to professionals.
The Vitality Advantage for Medical Billing and Coding Services
Vitality is a professional third-party medical billing firm partnering with healthcare organizations to lower process costs, improve cash flow, enhance operational efficiency, and maximize revenue collections.
Our team of professionals comprises of medical experts, RCM specialists, certified coders, and legal experts, dedicated to accurately submitting all claims for faster processing and reimbursement. Our company uses state-of-the-art technology to ensure quick and organized communication for utmost transparency and instant access.
As a leading medical billing services company, we ensure strict adherence to quality and compliance regulations in all our operations. Our focus is on enhancing billing services to minimizing rejections by submitting accurate claims the first time itself. This allows for maximum efficiency and productivity leading to improved collections.
With Vitality as your medical billing partner, you receive various benefits, such as
- Business intelligence to enhance productivity and improve process efficiency
- Processes for long-term sustained operations
Why choose Vitality for Medical Billing and Coding Outsourcing Services
As a leading health insurance billing company, we offer comprehensive and professional solutions designed to help healthcare professionals enhance their operational efficiency and collections. The healthcare industry is constantly changing. We ensure timely compliant submissions that adhere to the growing demands of this industry for reimbursements.
Our team works dedicatedly on every claim to ensure every cent is recovered thus freeing up healthcare professionals to focus on their field of expertise. With Vitality as your medical billing vendor, you no longer have to worry about loss of revenue due to claim rejections or late submissions. Instead, you receive long-term support and an optimized process that takes care of all your RCM processes with the help of our specialists and superior technology.
Contact us today and reap the benefits of efficiency, productivity, and collections with our Best medical billing and coding services.
More Services: Best Medical Billing and Coding Services, Account Receivable Services, Medical Record Review, Medical Transcription & Teleradiology.
Faq's
Unclaimed bills lead to huge financial losses for healthcare companies. Accuracy and speed are critical components for ensuring timely payment for healthcare services rendered. Healthcare professionals may not be able to dedicate the time and effort required to process and submit every claim. Our experts ensure that every service is correctly coded, billed, and processed in time for a healthy revenue cycle.
Yes. Our experts conduct a complete review of the medical claims submitted to you. The code for every procedure is checked to ensure accuracy. We also check that all records are correctly billed and are error-free to allow for quick processing and avoid insurance rejections.
Our team of professionals includes medical experts, RCM specialists, certified coders, and legal experts that boost productivity and efficiency. We are able to accurately process and submit claims that are error-free for minimum rejections. As your medical billing partner, we ensure HIPAA-compliant services with the help of state-of-the-art technology to process huge volumes of data and maximise revenue.
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