Healthcare Industry has been going through many changes - Meaningful use attestation, PQRS. And to top it now we have an enormous ICD 10 Implementation close to our heels, effective October1, 2015. If you are a small or medium-sized practice and not staffed enough to take of your billing & implement the ICD10, your practice could face major revenue hit. Since no ICD9 codes will be acceptable for services rendered by practices/physicians after September 30, 2015, the time is NOW to take stock of the situation.
And not just the ICD 10 Implementation, there are other reforms in the works for physician reimbursements like the move towards pay for performance model, rise in deductibles and these warrant taking a look if you need to outsource medical billing service for your practice.
TIME IS RIPE TO OUTSOURCE: ICD10 NEED IMMEDIATE ATTENTION
Among other programs, ICD10 needs the most immediate attention, and could be a deciding factor for reason to outsource. ICD 10 brings these challenges with it –
- Increase In Claim Denilas
- Rise in A/R Days
- Increase In Claim Errors
- Increase In Your Staff’s work load Considerably
- Changes In Physicians Documentation
- Upgrade and Training Costs
What’s The Alternative? OUTSOURCE.
But before you do, it might be a good idea to use this check-off list to research and shortlist the vendor for managing your medical billing.
- Claim Denial Management
- Readiness for ICD 10 Implementation
- Security & Safety protocols
- Local Office would be an added advantage
- Support & Contact Options Offered
- Compliance to HIPAA Policies
Benefits To Outsourcing:
Outsourcing your billing will not only save you the time, effort that can be utilized with your patients but also help increase in revenue.
- Brings the focus to patient care, as it should be.
- Saves you time & effort
- Trained Medical Billing Staff
- Less Expensive
- Specialized Management
- Increase In revenue For Practice
See Practice Forces As Your Medical Billing Partner?
At Practice Forces, we are offering our clients seamless upgrade from ICD 9 to ICD 10. For physicians & practices that means, getting paid in time for their service with no worries of incorrect coding. And, at NO extra cost. Should your practice need any help in becoming ICD 10 compliant, we will gladly help you. Call us today for a FREE consultation, 866-634-6327 or email us at [email protected].