Massachusetts does not even breach the top echelon of states with more than 100 hospitals within their jurisdiction. As of 2017, there were only 64 institutions in the area. To compare, Texas had 407, and California had 341 hospitals.
However, regardless of the scope of the healthcare industry of the state, each medical practice still needs to comply with the medical billing and coding regulations.
The medical billing system in the United States is not perfect. However, to its credit, federal and state governments are working to come up with standards to improve the procedures and processes, as outlined in the HIPAA.
source: mycong.com
Now, medical practices have two choices in auditing their systems. They can assign their personnel to handle an internal evaluation, or they can hire medical billing companies in Massachusetts to conduct an objective examination of their organization.
Even if you already have a system in place, are you confident that the medical billing audit complies with the standards set by the government regulators?
If anything, you should hire external medical billing auditors to determine if their procedures aligned with yours.
Nevertheless, here are the top reasons why you should contact medical billing companies:
source: medicalbillingservicereview.com
- It will increase your revenues because the number of rejected claims will drastically drop. You might incur costs in the process of outsourcing the task, but the returns will more than makeup for the expenses.
- You guarantee an objective analysis of your systems, using the highest standards of the audit. The external auditors have no bias to cloud their judgment. They will check your policies according to the compliance standards set by the law. They will then recommend corrective measures if they find gaps in your medical billing and coding practices. In contrast, an internal audit might not be as exhaustive. For example, your staff might not be upfront with the findings due to a conflict of interest.
- The process will also be quicker since the experts are focused on finishing the job more than anything else. In comparison, your personnel will also have other responsibilities in the organization on top of conducting the audit.
source: medium.com
- You will have an idea of the scope and coverage of the audit. The best thing that medical billing companies in Massachusetts can do for you is to help the organization identify what needs to be reviewed.
- You get paid quicker. Since you comply with the standards set by the law, healthcare providers are likely to settle your claims immediately. It is the best route, particularly for smaller practices whose operations are anchored on their cash flows.
- Physicians and nurses can focus on their core expertise. The primary responsibility of doctors is to render treatment to the patient, so they could not become managers and healers at the same time. Something has to give for them to do their jobs well. When they hire external auditors, they do not have to worry about meeting compliance.
source: thevallettagroup.com
It should be remembered, however, that an internal audit will still entail costs. For example, the compliance officer and the staff may put in overtime work to finish the review on time. It means you will pay for their shift differential, which is computed as a specific percentage of their daily wages. See more information about Hire Medical Billing Companies in Massachusetts at liveenhanced.
