Five-Year Growth Explosion Anticipated for Medical Billing Outsourcing

Posted in Coding Outsourcing, GeBBS Healthcare Solutions, Medical Coding, Medical Coding Outsourcing, Offshore Medical Billing, Outsource Coding, Value-Based Care

The administrative costs associated with medical billing outsourcing within a physician practice are becoming unmanageable for independent and major health system affiliated practices alike. A 2018 research study was conducted by experts at Duke University and Harvard designed to examine the administrative costs specific to large academic medical centers using electronic health record (EHR) technology …

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Is It Time for a Billing Operations Check-Up? How to Assess the Health of Your Revenue Cycle

Posted in Accounts Receivable (A/R), Offshore Medical Billing, Outsourced Medical Billing, RCM Solutions

Balancing the competitive landscape that comes with physician practice consolidation combined with population health and the shift to value-based care is a lot to consider for busy hospital physician practices. Add in the constant changes in regulatory guidelines, enhancing the patient experience and most importantly – a continued focus on quality and safety and most hospital administrators have little resources left to focus on improving the revenue cycle.

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Patient Collection Rates Are Plummeting as Out-of-Pocket Costs Rise – We Weren’t Surprised!

Posted in Affordable Care Act, Healthcare Revenue Billing, Insurance Billing Solutions, Medical Billing BPO, Offshore Medical Billing, Outsourced Medical Billing, Self-Pay Collections

Hospitals reported that patient collection rates dropped by 17.6 percent once patients owed more than $1,200 in out-of-pocket costs, a Crowe Horwath study recently confirmed. Hospitals collect significantly less from patients with higher out-of-pocket costs. The study revealed that collection rates for patient accounts with balances greater than $5,000 were four times lower than collection …

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Outsourcing as a Solution for Revenue Cycle Management (RCM) Continues to Grow at a Rapid Pace

Posted in Business Process Outsourcing (BPO), Coding Outsourcing, Offshore Medical Billing, Offshore Medical Coding, Offshore Revenue Cycle Management, Outsource Coding, Outsourced Coding, Outsourced Medical Coding, RCM Solutions, Revenue Cycle Management (RCM)

Facing lower reimbursements and shrinking margins, hospitals are exploring ways to capture more revenue. This has led an increasing number of hospitals across the nation to outsource their Revenue Cycle Management to professional outsourcing companies. This trend was identified in a recent Black Book™ survey, which included responses from 1,309 hospital CFOs and business office …

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Be Prepared for “Surprise” Medical Billing

Posted in Medical Billing BPO, Offshore Medical Billing, Outsourced Medical Billing, Patient Access Management, RCM Solutions, Revenue Cycle Management (RCM)

A recent article on the Radiology Business Management Association (RBMA) web site discussed consumer’s frustration with the cost of medical care as being at an all-time high as many purchasers of narrow-network, high-deductible and high-co-pay health plans are finding out that the benefits they get from their monthly insurance premiums are much more limited than …

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Best Practices for Identifying Patients Who Have the Propensity to Pay Before and During POS

Posted in Accounts Receivable (A/R), Medical Billing BPO, Offshore Medical Billing, Self-Pay Collections

With cash flows declining, margins shrinking, and bad debt on the rise, it’s more important than ever for healthcare providers to maintain a steady stream of income. If your organization has not implemented an end-to-end, comprehensive best practices revenue cycle management (RCM) solution, it is time to do it! You don’t have to add staff; just call …

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Streamline Your Revenue Cycle Management

Posted in Business Process Outsourcing (BPO), Medical Billing BPO, Offshore Medical Billing, Outsourced Medical Billing, Revenue Cycle Management (RCM)

In their May 6, 2016 newsletter, the AMA stated that: “Patient care is the top priority and a source of passion for physicians, but making sure the business side of your practice is ‘healthy’ also can contribute to better outcomes and patient satisfaction.” We couldn’t agree more! This has been GeBBS Healthcare Solutions’ philosophy from …

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End-to-End Revenue Cycle Management Will Keep You Out of the News

Posted in Business Process Outsourcing (BPO), Medical Billing BPO, Offshore Medical Billing, Outsourced Medical Billing, Revenue Cycle Management (RCM)

A large Chicago-based health system recently posted an operating loss of about $186 million in 2015, nearly 15 times the amount reported in the previous year. In addition, the system will lay off 250 employees and leave 450 jobs unfilled. The health system has told its bondholders that it will write off $53 million of …

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CMS Chronic Care Management (CCM) Initiative Can Help Improve Bottom Line for Physicians

Posted in Business Process Outsourcing (BPO), Coding Outsourcing, Medical Coding BPO, Medical Coding Outsourcing, Offshore Medical Billing, Offshore Medical Coding, Offshore Revenue Cycle Management, Outsource Coding, Outsourced Medical Billing, Outsourced Medical Coding, Remote Medical Coding

In today’s healthcare delivery environment, physicians are constantly looking for new ways to earn and increase their bottom lines. For example, the 2015 Medicare Physician Fee Schedule (PFS) will pay for non-face-to-face services for CPT code 99490 — Chronic Care Management (CCM), which reimburses practices on an average of $42 per patient, per month. Of all …

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Medical Coding Outsourcing is More Than Staffing

Posted in Business Process Outsourcing (BPO), Coding Accuracy, Medical Coding BPO, Medical Coding Outsourcing, Offshore Medical Billing, Offshore Medical Coding, Offshore Revenue Cycle Management, Outsource Coding, Outsourced Medical Billing, Outsourced Medical Coding, Remote Medical Coding

Outsourced medical coding’s traditional approach has been staff augmentation. It has been typically used to meet short-term gap needs due to turnover, extended absences, or electronic medical record (EMR) changes. In other words, it has been used when a healthcare provider needed temporary additional resources to supplement its existing resources. However, from our experience, this …

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