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Four Medical Billing Trends That Can Help Your Practice This Year

Four Medical Billing Trends That Can Help Your Practice This Year
Medical costs have increased exponentially in the last several years.

With the first quarter of the year well underway, how well are you keeping up with your yearly benchmarks for 2019?  For many medical offices, billing is an area that is always in need of help.   Medical costs have increased exponentially in the last several years, and many patients have begun to expect higher levels of transparency and options when it comes to payments.  As a medical provider, you may find yourself stuck with an inconvenient situation – how do you ensure that patients get the treatment they need while being able to pay easily, all while maintaining the rest of your workload and ensuring that your work is reimbursed. Fortunately, there are a few up and coming billing trends that can help make the entire process easier.

Automation

There are many instances where automation is the best option – both for patient experience and cost efficacy.  When it comes to billing, using an automated system frees up a lot of time, effort and hassle for both you and your patients.  While there may be cases of individuals who need extra help or direction, most will be happy to have an automated, streamlined medical billing process.

Merit-based Incentive Payment System (MIPS) Reporting with Registry vs. EHR

When choosing a method to report your MIPS, you now have a few options to choose from, the most critical being Registry and EHR.  The two possibilities each offer their own set of advantages and disadvantages that should be analyzed carefully to find the best match for your individual needs.  

New and Improved AI

Artificial intelligence (AI) is rapidly growing and developing and has quickly shown itself to be highly useful in the medical world.  Some companies have already begun to use AI for its ability to extract recognized data and use it in coding and billing. AI has also shown itself to be useful when it comes to patient collections.

Outsourcing vs. In-House Billing  

One of the best ways to help your small or new medical practice is to outsource your billing. While the cost may seem unnecessary, billing is one of the most important and labor-intensive parts of a new business.  Using outsourced staff can not only help ensure your accuracy and speed, but it helps to keep the rest of your team focused on other work.

Contact MedHelp, Inc. Today and Let Us Give Your Organization the Revenue Cycle Solutions It Needs!

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Call MedHelp, Inc. today at 443 524-4455 or toll-free at 1-800-275-6011 or visit us at www.medhelpinc.comand let our team assist you in choosing the right solution.

This entry was posted on Friday, March 15th, 2019 at 1:06 pm. Both comments and pings are currently closed.