Medical billing is very critical for every medical practice; it reinforces revenues and serves as the financial backbone. Medical billing is a comprehensive process which includes entering the patient data, entering ICD and CPT codes, preparing payment claims, submission and collections. Outsourcing your medical billing to a service provider is an important decision and requires a complete review of the company from many angles. A qualified medical billing company should provide support to your revenue cycle, minimize resource utilization plus add to the efficiency of the practice for optimum care delivery.
Sybrid MD is a well-established medical billing services provider across the United States. We are a HIPAA certified entity providing full-fledged medical billing services to its clients for many years now. We play the role of a facilitator between the healthcare practices and the insurance companies.
A number of medical and healthcare practices bear a significant loss of revenue every year due to minor mistakes when performing the billing and coding process. In this way, they face declined reimbursements and reduction in their overall revenue cycle. Errors while billing and coding can be of many types including miscoding, over-charging, under-charging, missed payments and non-paid claims. Outsourcing medical billing services to us would be a great relief for you since we provide highly professional and precise medical billing services under the supervision of our medical billing experts.
A complete Medical Billing Services Provider
We go through the below mentioned steps to deliver full-fledged medical billing services:
- Verification of the Data Accuracy
We perform a thorough checking of all the data before a patient actually visits a medical practice. In this regard, we carry out pre-insurance authentication to ensure eligibility with regards to insurance, authorization requirements, assessment of any copayments, analysis of deductibles and a lot more.
- The process of Medical Coding
We have a secure network through which we perform an in-depth investigation of the patient’s information for accurate accessibility. In this regard, we verify all the medical documents and discuss it with the clients as well. Afterwards, these documents are transferred to the medical coding department for allotment of ICD and CPT codes. Later on, the medical coding supervisor cross-checks and proofreads the documents. Moreover, the charge entry panel collects these documents for further processing. Our in-house resources are skilled to prepare clean medical bills and payment claims and use advanced tools to perform the tasks reliably in the shortest possible time.
- Entry and Auditing of the Charges
The cost from the coded documents is added to the account of the specific patient. In case of a new patient, if he/she does not have an account, all the relevant details are gathered for creating a new account. Right before the transferring of the claims to the insurance carrier, the Quality Assurance (QA) team comes into action for auditing the allocated charges. By doing so, they make sure the submission of the right claim.
- Error-free Claiming Processes
Right after the entry and auditing of the charges, the next step is to file the claims electronically. Apart from electronic processing, we also have the resources to work with paper-based office. The claims are briefly filtered through advanced tools to ensure accuracy and error-free submission. In case of the identification of any error, we provide a paper-based report within one day. After having the report, we perform the elimination of all the errors which subsequently are resubmitted to the insurance agency.
- Setting off the methods
Subsequent to the scanning of checks and claims, our expert medical coders enter the payments into the system. Adding to it, we charge proper patient accounts as well as set off the method for denied claims. We handle these types of settlements on an everyday basis.
- Tracking of the non-reimbursed/underpaid claims
Next, to the submission of all the claims to the financier, our billing professionals track all the non-reimbursed claims to decrease the accounts receivable (AR) days of the claim. In case of an underpaid claim, we go for the proper processing and follow up for right payment of the claim. Our AR team also makes appeals for the denied claims.
- Re-submitting error-free claims
We deal with the denied claims right of way. Our professional medical billers and coders have complete control on setting the denied claims right in the shortest possible time. We have hired experts for managing denied claims who are dedicated to fix denied claims in an appropriate manner. They can easily find all the underlying errors to re-submit an error-free claim. The claim is payable to the patient in case the payment is denied by the payor.
- Follow-Up with the Patient
When the insurance claim went through the entire process, we further examine the patient for any payable amount. Subsequent to this, we create a patient statement which is then filed on a 7-days or a 30-days basis as per the need of your practice. We perform a further observation of the patient by making phone calls. In case that the patient does not respond to the call, we transfer those payables to the collections and report you for taking further action.
- Reporting Procedure
We generate reports on a monthly basis to portray a detailed image of the monetary status of your practice which includes a report on the aging of the insurance and a report on Key Performance Indicators (KPI).
Perks of Having our Medical Billing Services
Sybrid MD is delivering its medical billing services remarkably for many years. You will be definitely getting hold of premium quality medical billing services after collaborating with us. You will be having the following perks after collaborating with us:
- We provide revenue cycle management assistance
We provide a fully protected and secured environment to keep your data and the entire patient-related information safe. We are certified by ISO as well as completely comply with the requirements of Health Insurance Portability and Accountability Act (HIPAA). Therefore, we provide full safety and confidentiality to your important data and you can trust us to securely handle all your financial statements.