As a private practice owner, have you ever thought that your practice running smoothly. Have you ever observed or created a separate reporting for coding errors? It’s time to think on this topic. There are possibilities that some coding errors are very easy to solve and you can get more reimbursement. The medical coding experts at Medisys can help you to minimize these errors and in turn boost the profitability of your practice.
Effects of Medical Coding Errors on Private Practice
Medical coding errors can be extremely costly as it directly affects your revenue cycle.
Effect on Patients
Delayed or incorrect medical billing is frustrating for patients. Medical costs and coverage can be difficult to understand as a patient. Top errors are already a complex system this may be enough for patients to find another medical provider. Proper coding is good for your private practice and good for your patients.
Revenue Impact
According to the Institute of Medicine, medical billing errors are cost to practices $17B to $29B every year. These are surprising numbers that emphasize the impishness of medical coding errors. The reality is the cost to work an appeal often triples the amount of time working aging, and doesn’t ensure payment. Plus appeals can delay payment by as much as 90 days! When you choose to outsource your medical billing with ORI, our coding specialists can eliminate appeals relating to bundling and other errors, which simply put means you get your money faster.
Challenges in Future
As the U.S population continues to grow in size and age, the world of medical billing will grow more complex. By streamlining your practice’s medical billing processes now, you’ll ensure the profitability of your practice in the future. Outsource your medical billing services to a leading medical billing service provider like Medisys.
Why Outsource Your Medical Billing to Medisys?
We are a group of medical billing experts who offer comprehensive billing and coding services to doctors, physicians & hospitals. We provide end to end billing and coding solutions. Medisys Data Solutions RCM solutions ensures that the providers recover every $ they are entitled to. Our vision for the providers is “You Cure. We $ecure.”
At Medisys, medical billing is our specialty. We work with providers and their teams to streamline their billing processes and increase their revenue along with saving in time and money. We offer a customized plan according to your practice. To know more, contact us at 302 261 9187.
