Incorrect medical billing can lead to numerous challenges for physicians, including financial instability due to delayed or denied claims, regulatory compliance issues, and potential legal repercussions. Furthermore, improper coding can affect the quality of patient care by causing inaccuracies in patient records, leading to misinterpretations of a patient's medical history. To improve the financial health of your medical practices and the quality of your healthcare services, outsource physician medical billing services to Flatworld Solutions, a service provider with superior industry knowledge garnered over two decades of experience.
We leverage our rich experience and wide exposure to CPT (Current Procedural Terminology) codes (which changes over time) to collect 99% of total billed revenue. Our efficient back-office support ensures over 98% accuracy in physician billing services by using timely, reliable, and efficient processes, streamlined over several years to ensure proper reimbursement with quick turnarounds. Our expertise spills over HCPCS (Healthcare Common Procedure Coding System) codes, ICD-10 coding, evaluation and management codes, payer-specific coding, and offshore coding audits. Combining well-trained resources with the latest technologies, we keep your 60-day outstanding AR (Accounts Receivable) below 20% and 120-day AR below 10%. To know more about our services, book a free consultation today!
Physician Medical Billing Services We Offer
Our expertise spans coding, credentialing, enrollment, and billing, all within a HIPAA-compliant framework. Our billing service for physicians aims to optimize revenue cycles, delivering performance-based solutions at competitive rates. Leverage the following services to protect your practice from financial uncertainties and increase profitability -
Our business management service ensures streamlined healthcare practice operations through strategic planning, identifying strengths and weaknesses, and ROI projection. With a focus on long-term success, it employs proven business tools and methodologies, while simultaneously addressing both current and future technological needs.
Frequently, medical practitioners under-code their services, causing potential revenue losses. Our AAPC-certified medical coders help counteract this issue with comprehensive coding solutions, including HCPCS, ICD-10, CPT, payer-specific, and offshore coding audits. With a wealth of experience, an extensive team, and millions of claims processed annually, we significantly enhance your coding efficiency.
Our top-tier physician billing solutions deliver industry-leading ROI and profitability to our clients as we collect up to 99.7% of total billed revenue. We also offer advisory services on optimal medical billing and coding procedures to help maximize AR/AP processes, improve cash flow, and streamline businesses processes. We serve as an extension of your in-house staff, providing continual support, training, and development.
We help physicians secure preauthorization approvals swiftly and efficiently. Our secure online portal streamlines the process, providing updates on pre-certification completion. We help minimize paperwork errors and insurance denials, ensuring maximum reimbursement. With our services, physicians can focus more on patient care while reducing operational costs by 30% to 40%.
Benefit from our around-the-clock service, dedicated to expedient claim settlement. We expertly manage every aspect of the claim settlement process, coordinating with insurers, medical experts, and other involved parties. Our meticulous attention to detail ensures accurate claim documentation, thorough evaluation of the claim experience, and insightful analysis of the cause of loss - all designed to optimize your insurance program.
Our RCM (Revenue Cycle Management) solutions help optimize your Accounts Receivable management processes and curb the accumulation of unpaid claims. Our top-tier services not only identify and recover lost revenue but also expedite the closure of aged payments and manage collections responsibly. Regardless of the complexity of your revenue cycle challenges, we are committed to delivering effective solutions.
Financial Analysis & Reporting
Our professional medical billing solutions for physicians include robust financial analysis and reporting, employing advanced analytics tools. This service facilitates precise monitoring of revenue cycle metrics, detection of coding inaccuracies, and generation of actionable data for optimizing fiscal health.
Our superior claim submission procedures adhere strictly to CMS-1500 and UB-04 standards. Leveraging our expert coding knowledge, we guarantee accurate, timely submissions, mitigating denial rates and enhancing your revenue cycle management. Trust our services for a streamlined, error-free billing process; rely on us to maximize your healthcare practice's efficiency and productivity.
Our services involve the meticulous application of payments to respective patient ledgers, reconciliation of EOBs (Explanation of Benefits), and precise adjustment of denials and write-offs. Our experienced team assures precision and compliance, enhancing revenue cycle management and financial accuracy.
Our team retrieves trailing documents, follows up with third parties, and gathers all necessary loan documents. We collaborate with title companies and brokers to assemble the final post-closing package, ensuring its accuracy and completeness. Based on thorough reviews, we confirm compliance with requirements for insurance, sale, and protection against fraud. Our seamless processes include preparing shipping packages, extracting loan packages, and uploading signed documents. We conduct government-insuring reviews and address any discrepancies, ensuring data integrity and compliance.
Physician Billing Process We Follow
Rendering a customized medical billing service is one thing and seeing the workflow unfold is another. If you want to witness the sequence of steps we follow to expedite billing process, here is how we maintain transparency in the physician billing -
01. Medical Coding
We offer an entire range of medical billing services that includes medical coding, transcription, EHR review, etc. Our services are executed by AAPC certified coding professionals who are adept at ICD-9, ICD-10, ICD-11, CPT, and HCPCS.
02. Claims Follow-up
We track claims status in real-time for faster reimbursement. Additionally, claims are also filed electronically to avoid payment bottleneck.
03. Eligibility Verification & Pre-authorization
We execute insurance eligibility verification in real-time as a batch process. This saves the patient's time and effort spent to obtain preauthorization.
Maintaining a paper trail is an arduous challenge even for large billing companies. We routinely compile reports and maintain documentation that is offered to providers and insurance payers to bring clarity into the work accomplished.
05. Management of Claims Denial
Unpaid claims can come in the way of fielding profits. We follow-up with payers if physicians are underpaid, or not paid at all. We pull billing, insurance, and aging reports to efficiently tackle claims denial.
06. Charge Posting
We capture and post the payment to provider's account. In the case of payment discrepancies, we proactively review billing data and explanation of benefits (EOB) to provide the best value to physicians.
07. Uncleared Invoice Reminder
It is troublesome for physicians to follow up on slow-paying and non-paying patients. We dispatch accounts statements to patients reminding them to clear outstanding dues.
Technologies We Leverage
Clients We Serve
Additional Services We Offer
Streamline patient records with precision, ensuring accurate diagnostics and procedural information for optimal reimbursement.
Convert your medical audio files into clear, precise text, facilitating improved communication and record-keeping.
Minimize claim rejections and boost revenue with expert handling and resolution of denied insurance claims.
Simplify your financial processes with accurate, prompt invoicing and payment collection, enhancing your practice's cash flow.
Specialized support for dental practices, ensuring precise billing and swift, full reimbursement.
Optimize your practice's financial health with comprehensive management of patient registration, insurance and benefit verification, billing, and collections.
Specialty-Specific Billing Services We Offer
We offer an extensive suite of specialty-specific billing services that help optimize revenue cycles using industry expertise and advanced technology. Our services cover all billing aspects, including coding compliance, claim submission, payment posting, denial management, and reporting, catering to a wide range of medical specialties for improved efficiency and maximized reimbursements.
Primary Care Specialties
Primary Care Specialties
Specialized Medical Fields
Supportive Care Services
Medical Emergency Services
Specialized Equipment and Procedures
Why Choose Us as Your Physician Billing Company?
Choose our ISO-certified physician billing company for unmatched expertise and global reach, with 17+ years of experience, 4800+ experts, and 18K customers across 100+ countries. We are recognized as Asia's leading SME in 2020 and have offices in key locations including the US, Europe, India, Philippines, and South America. The benefits of partnering with us include -
We ensure strict adherence to Health Insurance Portability and Accountability Act regulations, safeguarding the confidentiality and security of all healthcare information.
Our team comprises experts across multiple medical specialties, providing comprehensive and diversified coding and billing services tailored to specific healthcare sectors.
Significant Reduction in A/R Days
Our efficient and timely medical billing process significantly reduces accounts receivable days, ensuring faster payments and improved cash flow.
Streamlined Business Performance
Our strategic approach results in a 25% increase in collections, 40% more savings, and a remarkable 97% of claims being paid on first submission, enhancing overall business performance.
Sharp Reduction in Claims Denial
We employ meticulous and accurate coding to drastically reduce instances of claims denial, ensuring maximum reimbursement.
We prioritize data security, utilizing advanced security measures to provide complete protection of all sensitive patient data and information.
Our services are web-based and reachable 24/7, offering clients the convenience of round-the-clock access and the ability to monitor their billing and coding processes in real-time.
Customer Success Story
Charge and Demographic Entries by Using the Kareo Software
A Houston-based client contacted Outsource2india to outsource charge and demographic entry. They faced a cash crunch along with employee turnover resulting in delayed claims submission. By proving a customized solution, we helped the client rake up 45% profits and the claims were verified with an accuracy of 98-99%.Read more
Provided patient Demographics and Charge Entry to A top US Medical Billing Company
Outsource2india handled the complete medical billing process for a large medical billing company based in the US, improving productivity by 30% with error rates below 2%. We processed 150 files a month with an error rate of just 2%.Read more
I am very impressed at the ease and the speed of the dictation service. They worked to my schedule and delivered well. I am very happy with the quality of the dictation work. Bernard (Sales Manager) was always prompt with replying as well as professional at all times. I would highly recommend this service to my clients and my colleagues. I am very happy with the quality of the dictation work and look forward to working with Outsource2india in the future.Dr. Alan Lim
Independent Doctor More Testimonials »
Outsource Physician Billing Services to Flatworld Solutions
Our well-defined systems and comprehensive reporting ensure transparency, early detection, and consistency in deliverables. By leveraging advanced technologies such as robotic process automation, machine learning, and artificial intelligence, we amplify efficiency and productivity. These innovative technologies allow us to automate routine tasks, predict trends, and make informed decisions, thereby enhancing the quality of our services.
Our infrastructure is designed to handle mission-critical processes with redundancy. We operate global delivery centers to leverage the best workforce, offer competitive pricing options, and provide rapid scalability. This global presence enables us to deliver high-quality, cost-effective physician billing services tailored to your unique needs. We offer 24/7 operations to enable you to take full advantage of different time zones. This around-the-clock service ensures that your physician billing needs are addressed promptly and accurately, regardless of your location.
Outsourcing physician billing services to us to not only optimizes your revenue cycle but also allows you to focus on your core competency - providing top-quality patient care.
Software At O2I Healthcare
Specialties HIPAA Compliance HIPAA 5010
Standards Compliance CPT Coding
Billing Process Charge
Entry Process Medical
Coding Process Medical
Claims Process FAQs on Medical Accounts
Receivable Services FAQs on Outsourcing
Claims Adjudication Services Medical
Transcription Process HL7 ICD-10 Compliance
- US-based Healthcare Research & Consulting Firm Approached O2I For Medical Transcription Services
- Outsource2india Provided Patient Onboarding Services to a Leading Healthcare Company
- Outsource2india Assisted a Florida-based Medical Billing Company with ICD-10 Implementation
- Caribbean Radiologists Got STAT Reports Automation Services from Outsource2india
- Outsource2india Helped a Medical Imaging Firm with Quick Teleradiology Services
- O2I Processed Over 3000 Encounters Related to Rehabilitation Care for a Group of Physicians from Indianapolis
Frequently Asked Questions (FAQs)
How do I choose the right physician billing service?
Choosing the right physician billing service depends on several factors. Firstly, evaluate the costs involved and consider whether the service fits within the budget. Secondly, consider the technology and software the service uses. It should be up-to-date, secure, and compatible with the current systems. Thirdly, check the service's compliance with HIPAA (Health Insurance Portability and Accountability) and other industry regulations. Lastly, evaluate the service's track record, customer service, and transparency.
What are the benefits of using a physician billing service?
Utilizing a physician billing service can yield numerous benefits. It can substantially reduce administrative tasks, allowing physicians to focus more on their patients. The service can also improve cash flow and reduce billing errors due to their expertise and specialized software. Furthermore, it can ensure compliance with industry regulations and provide valuable insights through detailed financial reports.
How much does a physician billing service cost?
The cost of a physician billing service can vary significantly, based on the extent and nature of the services required. Some services charge a flat fee, while others may charge a percentage of the practice's revenue. It's vital to obtain detailed quotes and understand what services are included in the cost.
Can a physician billing service help with denied claims?
Yes, a physician billing service can significantly assist with denied claims. They have the expertise to examine and identify the reasons for denial, rectify any errors, and resubmit the claims. Their experience and knowledge can increase the likelihood of claim acceptance and improve the practice's revenue.
Does a physician billing service also handle patient billing inquiries?
Yes, many physician billing services also handle patient billing inquiries. They can provide comprehensive explanations of bills, assist with insurance issues, and address any concerns or queries. This can greatly enhance patient satisfaction and reduce administrative tasks for the practice.
Do physician billing services comply with HIPAA?
Yes, reputable physician billing services comply with the Health Insurance Portability and Accountability Act. They ensure the secure handling, storage, and transmission of patient information. Compliance with HIPAA is crucial to protect patient privacy and avoid hefty fines for breaches.