Insurance Verification Services
Insurance Verification is the 1st step in ensuring payment for the work you will perform.
The New England Journal of Medicine states that a typical doctor's overhead and billing expenses account for 43.7% of his/her gross income. This translates into an average of about one and a half clerical workers per doctor at an average annual cost of $52,564. This docs not include the hidden costs like vacation time, insurance and the like.
lnsurance companies hate to pay what they owe. The process of filing these claims is cumbersome, time consuming, and energy draining.
Outsourcing reduces the amount of time it takes to collect insurance companies from 60-90 days to just 7-21 days.
Lower claims rejection rates:
The rejection rates for claims that are outsourced plummet from approx. 30% fewer to less than 2%.
By outsourcing you gain the benefit of credentialed professionals such as Certified Professional Coders (CPC), Registered Medical Coders (RMC), and HIPPA Compliance Officers who are experts in billing thus improving your bottom line by preventing mistakes that cost you time and money.
Outsourcing allows a medical provider to focus their time and energy on patient care rather than paperwork while the provider has a profitable and predictable cost structure.
For additional information on our Insurance Verification services, call us today at 877-MDBILL9.
Call MD Billing Solutions for a free consult today!
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