Medical billing outsourcing companies can save your time and resources by improving the accuracy and timeliness of billing and claims submission so you can go home early and spend more quality time with your family. It's time to outsource your administrative tasks and focus on providing the best possible care for your patients.
The Benefits of Outsourcing Medical Coding and Billing Services
Revolutionizing Healthcare Revenue Cycle: The Benefits of Outsourcing Medical Coding and Billing Services to Expert Coders and Revenue Cycle Managers
Do you run a medical practice? If you do, you may understand how difficult it is to run a medical practice alone in the healthcare industry.
As the owner, you must wear several hats and care for different departments to ensure your medical practice runs smoothly.
The owners must also take care of things they don’t have expertise in. This includes medical billing. While providing healthcare services is in your skill set, medical billing may be different. Portiva can be the help you need! We can be your medical billing partner.
Let us help you save money and get assistance at 1/3 the cost!
Our Remote Medical Assistants Offer
Insurance Verification Virtual Assistant
Virtual assistants automate insurance verification processes and ensure that patients' insurance information is accurate and up-to-date.
Dental Virtual Assistant
Dental assistants can work remotely from their own computers and manage the dental office's practice with ease by logging into its practice management software.
Medical Transcriptionists
Improve communication between medical providers, conversion of audio recordings, documentation accuracy, and provide a comprehensive secure electronic medical record.
Virtual Medical Scribe
Portiva's Virtual Medical Scribing solution is here to streamline medical documentation, cut admin costs and liberate your staff's precious time. A perfect solution for you!
Medical Billing Virtual Assistant
Medical billing virtual assistants are becoming more popular among physicians' offices as they provide efficient support for managing operations and maximizing revenue.
Prior Authorization
Prior authorization helps doctors avoid unexpected costs and patients avoid unnecessary expenses, ultimately resulting in cost savings for physicians and patients alike.
You Need Medical Billing Solutions!
House Medical billing can be sensitive, and there is a lot of room for error; if you’re in-house billing teams do not have the necessary expertise, then you might end up making mistakes that can be easily avoided.
In this case, medical practices should delegate responsibilities to the medical billing staff, so only those experts in medical billing can take over and handle the revenue cycle smoothly. This is the best medical billing solution you can find! It will also help your financial health.
Benefits Of Outsourcing Medical Billing Services
If you are still sitting on the fence about whether or not you should hire a medical billing provider, then here are some benefits you may experience with outsourcing medical billing services.
1. Saving Money
If you are a small healthcare organization and want to save money, invest your time and energy in a medical billing outsourcing company.
When you hire such a company to outsource your medical billing services, healthcare organizations don’t need to hire a full-time employee and invest in the medical billing software.
Medical billing outsourcing companies have the practice management software already, and they can help you with the billing with the latest technology and trained experts.
2. Error-Free Billing
As mentioned earlier, medical billing is no piece of the cake. There are several things for you to care about, and if you make a mistake, the outcome can be worse. Mistakes in the medical billing process can result in denied claims, loss of revenue, and even putting your patient’s health at risk.
You need to ensure there are no errors in the in-house billing process, and the safest way to do that is to hire a medical billing service, they can do that for you. Many medical billing companies hire healthcare professionals trained to offer billing services and are familiar with all the billing procedures.
3. Patient Satisfaction
When patients come to your medical practice, they expect you to provide complete medical billing transparency. This transparency helps improve patient satisfaction. When the medical bills are clear, the patients can be clear about their bills, which can cause misunderstandings between them and the medical practice. This is why medical practitioners need to provide clear bills.
4. Quicker Payment Turnover
If you outsource medical billing to a reputable company, then you can get quicker payments as their process is streamlined.
With a streamlined billing process, the bills are submitted faster, meaning the company can get their payments quicker. This improves cash flow significantly, and that helps you run the establishment better.
5. Compliance To Medical Billing Regulations
You must adhere to all the medical billing regulations when carrying out medical billing. As a medical practitioner, you may have a lot of things on your plate, and keeping up with regulation changes is low on your priority list.
This is why you can outsource medical billing to the right company to ensure you follow all medical billing regulations. It would be best if you didn’t have to deal with compliance issues and complete the billing process without hassle.
6. Improved Patient Care
It is very challenging to take care of everything on your own, and focusing on tasks such as medical billing can affect the quality of medical care you provide. When you outsource a company to care for medical billing, you can have plenty of time and energy to focus on caring for your patients. This will help you improve patient care, boosting your practice’s reputation.
7. Better Technology
Medical billing companies have the best technology and software to complete medical billing. As a medical practice, you may need more resources for medical billing, and it is important to have the latest technology and advanced software to ensure accuracy and efficiency.
Therefore, outsourced medical billing services are the best way to prevent investing in the software and technology yourself.
I'm very thankful for Portiva who I know is looking after my practice while I'm gone the virtual assistants can manage prescription refills, documents they can triage patients and just kind of answer administrative questions and they can handle a lot on their own. But also, they're very good about contacting me if there's any emergency or anything I need to attend to. So I'm very thankful for Portiva they can help almost any provider almost anywhere and it really allows for some good work-life balance as I'm getting to experience right now at my family farm so I'm very thankful for Portiva and I'm very happy to use their services"
Board Certified Family Medicine Physician
Portiva's Virtual Medical Assistant - I have all the support I need. There's somebody checking my email, any patient messages. Patients are still able to schedule and handle any scheduling issues and any kind of billing that needs to still go through. Portiva hands handles it all for me. I have support i have somebody that I can access 24/7 pretty much. It's all very seamless. If somebody has an emergency or needs a medication called in. I know that the va's at portiva will handle that for me.
Board Certified Family Medicine Physician
"After switching to Portiva.com, we have seen a huge improvement in the quality of the transcripts and the turnaround time. I recommend Portiva's Virtual Assistants and remote medical scribe for any medical practice out there."
Michael F. Fry, MD, FAAOS
www.theswiftinstitute.com
"We had an automated system for two years and were not happy. It’s a world of difference when humans answer the calls. We love your service and your price."
Dr. Jennifer E. Mullendore
www.laserpodiatryassociates.com
"Thank you for making my daily life as a medical transcription coordinator a joy! I love how simple your transcription platform is to use. Hence, I no longer have to spend hours coordinating the clinical documentation work."
Dr. Robert Salant
www.murrayhillurology.com
"We rely on your notification system so much. I can’t believe we spent our valuable time calling people up manually about closures and other important things that we wanted our clients to know about."
Dr. Algie LaBrasca, D.O.
www.drlabrasca.com
Factors To Consider When Hiring Medical Billing Outsource Companies
Have you decided to hire a medical billing company? That’s great, but there are many factors you must consider before you make your decision. Here are some factors you can consider when looking for the best medical billing company.
1. Relevant Experience
You cannot hire amateurs for your medical billing; you need experts who have been practicing in the relevant field for a long time.
Therefore, when you hire a medical billing service, you must connect with experts who have a track record of the services and have successfully helped practices with their billing.
To learn about the company’s experience, you can either ask them yourself or track their references to learn more about their services and whether they have relevant experience in the kind of medical services you offer.
The right company will have the experience and knowledge to handle your practice’s needs. Make sure to ask the company lots of questions about their experience of the entire healthcare industry so you can make an informed decision.
2. Reputation Of Medical Billing Companies
The reputation of the medical billing company is very important to consider, as you cannot risk hiring an inexperienced company. With a patient’s health at risk, it is important for you to only hire a medical billing company that has a good reputation.
Look for company reviews on its website and different forums to get unbiased opinions. This will help you make a good decision, and you will be sure that your medical billing tasks are in good and capable hands.
3. Technology
When you plan to outsource your medical billing, you must hire one with all the necessary resources to perform medical billing. These resources include software and other tools that can help with medical billing.
The company needs a medical billing system that complies with the regulations and can simplify the billing and medical coding for faster turnover.
Moreover, the system should be compatible with the medical coding software system you use, so it is easier for you to exchange information. This way, you won’t have to spend money getting a new software system.
4. Pricing
Pricing is vital when considering who you should hire for medical billing. Different billing companies have different pricing protocols; you need to choose the company whose pricing strategies align with yours.
For instance, some companies charge according to a predefined percentage of the medical establishment’s total earnings. Or they can charge a monthly fee. It is better to have all the clarity you need before deciding. Ask the company about their pricing plans and if they have any other additional charges.
You must know of all the additional charges before you confirm your decision. With the medical billing company you will get a dedicated account manager to offer consulting services and improve patient payment plans.
5. Communication
Communication is integral to your relationship with the medical billing outsourcing company. Both of you should be able to communicate regularly, and exchange reports on different claims. You may have many questions from the patients, and the medical billing company should entertain these questions, so there is complete transparency.
Ask the company about their communication policy and how often you can reach out to them. Come up with a schedule that both of you can follow easily and avoid any miscommunication or hold-up in the billing procedure.
Moreover, you should also ask the company about the procedure they offer when they submit electronic claims and disputes among other billing errors. This will help you decide whether the company is the right decision for you or not.
6. Medical Billing Code and Compliance
There are lots of regulations you need to follow when it comes to medical billing. These regulations change frequently, and the outsourced medical billing company must be on top of these changes. The regulations can include HIPAA, HITECH, and the Affordable Care Act.
You must choose a medical billing company that is well acquainted with these regulations and can follow them properly. You need to confirm whether the medical billing service complies with them or not.
Ask the outsourced billing services companies about their compliance procedures and if they have any accreditions to prove their compliance.
Portiva Is The Best Medical Billing Company For You
These factors will help you make the right decision. If you are looking for top medical billing companies that do it all, then Portiva is your best choice!
We offer medical billing services and hire the best medical billing experts to take over your medical billing operations and the entire revenue cycle management.
We have several years of experience and can offer just what healthcare providers are looking for. Our expert medical billing services can take the load off your shoulders.
Get in touch with our professional medical billers and get the best medical billing services.
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Frequently Asked Questions
Which is best company for medical billing?
Medical billing is an integral part of managing any medical practice, hospital, or healthcare facility, and it’s crucial to choose a trustworthy and effective medical billing company to ensure seamless and timely payments. While selecting the right company may seem overwhelming, outsourcing medical billing services can significantly help you streamline the process.
Numerous medical billing companies offer medical billing and coding services, but choosing a company that caters to your specific needs is crucial. Factors such as experience, cost, reputation, and billing services should be considered when selecting a medical billing company.
One top medical billing company that offers professional and efficient billing services is Portiva. They specialize in medical billing and coding, and their comprehensive medical services ensure that claims are submitted accurately and promptly. The company provides tailored billing solutions, and the team stays updated on industry regulatory changes to provide the best service possible.
Additionally, with their impressive experience with medical billing companies, their team ensures that every client receives the utmost attention and care, creating a personalized approach to every business. Portiva stands out among medical billing companies, and their reputation precedes them, making them one of the most reliable medical billing companies to outsource your billing services.
When you outsource medical billing to a reputable medical billing company like Portiva, you can focus on delivering top-notch healthcare services while their team takes care of the billing aspects, providing you peace of mind and making the entire process streamlined and more efficient.
How much is outsourcing medical billing?
Outsourcing medical billing and coding has become common in the healthcare industry. The cost of outsourcing medical billing varies depending on the company you hire for the job. However, outsourcing medical billing can save you significant money compared to hiring an in-house billing team.
By outsourcing billing services, you can focus on providing top-notch medical services while your revenue cycle is handled by experts. It’s important to note that outsourcing medical billing can offer additional benefits, such as lessening errors in coding and maximizing reimbursement for healthcare providers.
Many medical billing companies offer outsourcing services, and finding the right company for your practice or healthcare facility can be a significant step to increasing efficiency and cutting down on costs. Outsourcing medical billing enables you to work with experienced billing professionals who navigate the complexities of medical coding and billing while following regulatory compliance standards.
So, how much does outsourcing medical billing cost? The pricing for outsourcing medical billing depends on the size of your company or practice and the type of services you need. Some factors influencing pricing include your billing requirements, the number of claims that need to be processed, and the variety of medical services you offer.
Outsourcing medical billing to a reputable medical billing company can save you substantial money in the long run. Along with cost savings, outsourcing medical billing can provide additional benefits such as expertise in medical coding and billing, providing up-to-date compliance with regulatory standards, and allowing you to focus on your primary responsibilities of providing high-quality medical services.
Who uses professional billing?
Many different people and companies in the healthcare industry use professional billing services. This includes medical services providers such as physicians, healthcare facilities, and medical billing companies. Outsourcing medical billing to a professional billing company is an increasingly popular option for medical services providers, allowing them to focus on providing quality patient care while leaving the billing and coding process to the experts. Medical billing companies and billing companies offer specialized services to healthcare providers to manage their billing and coding processes effectively.
These companies have the necessary expertise and knowledge to ensure that healthcare providers receive correct and timely payments for their services. By outsourcing medical billing services, healthcare providers can devote more time to improving patient outcomes while medical billing companies and coding experts care for their billing needs. Professional billing services are an essential component of the healthcare industry, providing expert support to ensure that medical service providers are efficiently and accurately reimbursed for their services.
What are the two most common types of medical billing?
There are primarily two types of medical billing that are commonly used in the healthcare industry. The first is in-house medical billing, where healthcare providers internally handle billing and coding services. This type of billing may seem more convenient, but it requires a lot of resources and may only sometimes result in an accurate financial picture for the company.
The second type of medical billing is outsourcing medical billing, which is becoming increasingly popular. Medical billing companies offer medical billing and coding services to healthcare providers, eliminating the need for in-house staff. These billing companies specialize in medical billing services, so they better understand the medical coding and billing processes, which ultimately results in more accurate and efficient billing. By outsourcing medical billing, healthcare providers can save time and resources while receiving valid and effective billing services from professional billing companies.
The two most common types of medical billing are in-house billing and outsourcing medical billing. In-house billing is managed internally by a company’s staff, whereas outsourcing medical billing involves hiring medical billing companies to handle the billing and coding services. Given the expertise and efficiency offered by medical billing companies, outsourcing medical billing is becoming the go-to option for medical services and healthcare companies today.