Wednesday 24 August 2011

Effective patient care versus revenue cycle management: physicians perform a balancing act

Physicians in the U.S., despite ranking high for their medical competence, have never been able to fully realize and optimize their medical bill reimbursements owing to an increasingly complex health insurance system that has been constantly evolving, and characterized by:
  • HIPAA Compliant Medical Reporting
  • Stringent Billing and Coding Regimen
  • Technological Interface for Electronic Billing and Coding
  • Multiple-payer Health Care System, both Private Insurance Plans, and Federal Health Plans such as Medicare and Medicaid.
    • Patient Enrollment
    • Scheduling
    • Insurance Verification
    • Insurance Authorizations
    • Scheduling and Re-scheduling
    • Coding
    • Billing and Reconciling of Accounts
    • Collections
    • AR Collections
    • Denial Management & Appeals
  • Physicians, whose core concern being the elevation of medical care in congruence with the ever evolving global competitive benchmark, have reported medical billing managementto be an undesirable diversion that can negatively impact their medical efficiency. Experimentation with in-house medical billing practice has not been encouraging either – with in-house staff reporting it to be detrimental to their core function of supportive medical care, or underperforming despite heavy investment on training and system-implementation. Consequently, physicians – with no avail but to practice medical billing somehow – have inevitably been driven to seek professional help in medical billing from medical billing specialists.
    Experience has shown that successful medical billing has followed the dictum of perpetual reinvention in tune with stringent compliant standard (coding compliance), privacy compliance regimen (as per HIPAA), and ever advancing technological platforms for billing management cycle – all of which have contributed to an imposing environment that demands a highly qualified, experienced and dynamic team of medical billers, who along with a comprehensive knowledge of billing, are adept at conducting medical billing management in a sequential manner:
    Consequently, physicians’ search for comprehensive medical billing service has led them to leading medical billing specialists, such as Medicalbillersandcoders.com – the largest consortium of medical billing professionals, who are adept at accurate charge-capture, intricate procedure coding, electronic filing of claims, patient billing, multi-tiered appeal process, denial elimination initiatives, and compliance standards.
    Carrying impeccable qualifications – certified by the American Association of Professional Coders (AAPC); proficient in using advanced medical billing software such as Lytec, Medic, Misys, Medisoft, NextGen, IDX, etc., and latest coding softwares such as EncoderPro, FLashcode and CodeLink, these medical billing specialist help physicians to streamline their current operations.
    Expert at applying standard CPT, HCPCS procedure and supply codes, and ICD-9-CM diagnosis; HIPAA compliant medical reporting; and an impressive track-record of maximizing reimbursement of medical bills with the leading private insurance carriers such as United health , Wellpoint, Aetna, Humana, HCSC, Blue Cross Group, and Government sponsored Medicare and Medicaid as well – our medical billing experts ensure simplification of your revenue cycle, appreciable increase in collection rates and operational margins, more patient inflow and referrals, and Increased avenue for medical research and development.

The Top 5 States for Physicians to Practice Medicine

The best states in the US for practicing medicine can be determined by taking a holistic view of the state of health care in that particular area and comparing it with other places. Some states are surprisingly physician friendly while some may not be very suitable for physicians in certain specialties. The ranking can be based on factors such as the availability of physicians, disciplinary actions against physicians, the premiums paid for medical liability coverage, cost of living index and state income taxes among many other factors linked to the cost of administration.

Texas

Texas is one of the better states for general surgeons and internal medicine because of the low liability insurance premiums for these specialties. A low cost of living index and low state income tax rates make it one of the top states for physicians to practice medicine. The high percentage of uninsured in this largest state would create a need for health care providers in the future which could be much larger compared to any other state in the country. Moreover, there is no shortage of medical billers and coders in Texas and this makes administrative processes frugal and efficient at the same time.


California
California is the best state as far as physicians’ salary is concerned and is also favorable in terms of Geographic Practice Cost Indices or GPCI. Another feature that is in favor of physicians in this golden state is the comparative lack of competition in the state in many areas coupled with low medical liability premiums.
Alabama


Alabama is one the states where competition is thin for physicians and almost 20% of the people in the age group 19-64 are without health insurance. In face of health reforms, these would be entitled to insurance and the number of patient-doctor encounters would also increase. The cost of living index is lower in Alabama compared to many other states in the US. Furthermore, less number of disciplinary actions by the medical board in Alabama in comparison to other states makes it a place which is lucrative and suitable for physicians.
South Dakota


South Dakota is also one of the states which are ideal for physicians and health care providers due to zero state income taxes and zero liability insurance premiums. Moreover, South Dakota also has a low cost of living index and a comparative scarcity of physicians, making it financially beneficial to provide health care services here. South Dakota is one of the states with very high density of medical billers and coders making it apt for physicians and health care providers from the point of view of administrative and medical billing and coding support.

Tennessee
Tennessee is one the states that is physician friendly mostly because of zero state income taxes, higher pay scale compared to numerous other states, low number of disciplinary actions, and a low cost of living index.  Moreover the easy availability of medical billers and coders in Tennessee makes it ideal for cutting costs as far as the administrative processes related to practicing medicine are concerned.


Although many other states also have positives for physicians but these five states are among the best because all or most of the factors such as cost of living, remuneration, liability insurance premiums, number of disciplinary actions against physicians, state income taxes, GPCI, and number of health providers in the state are in favor of health care providers.

Boston Medical Billing, San Jose Medical Billing, Phoenix Medical Billing, LasVegas Medical Billing
About Medicalbillersandcoders.com
Medicalbillersandcoders.com is the largest ‘Consortium of Medical Billers and Coders,’ across the US. The portal brings together hundreds of billers, with experience in different specialties, on the same platform to service physicians in their local areas. This network of coders and billers is growing rapidly and is currently servicing over 50 specialty physicians, across the US (Iowa Medical Billing, New York Medical Billing, Ohio Medical Billing, Texas Medical Billing), with the most prominent being Cardiology Medical Billing, Mental Health Medical Billing, Dental Billing, Oncology Medical Billing, and General Practice.

 

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