Updated: Aug 20
Managing medical billing and coding has always been a challenge. However, in the face of the current COVID-19 complications, it has become a much more daunting task. As a result, the financial health of healthcare providers is deteriorating with their revenue cycle processes operating at suboptimal levels.
CS EYE can act as your medical billing partner to help you stabilize your financial operations and restore normalcy during these testing times. Our experts can effectively streamline your billing workflows and enhance your revenues, thereby enabling you to focus on your core objective - provide optimal patient care. The following are the reasons that explain why outsourced medical billing is flourishing more than ever before.
Reduced Costs Ensuring Sustainability and Growth
The outbreak of the COVID-19 pandemic has had unprecedented and far-reaching repercussions on the healthcare industry. With the rising demand for the right sanitation practices and infrastructure, the expenditures of healthcare providers have increased considerably.
In such a scenario, outsourcing medical billing to third-party service providers can be an effective way to realize cost savings for healthcare providers. Outsourcing would not only cut down the salary costs of a provider but would also streamline workflows and reduce IT infrastructure expenses, thereby helping the healthcare providers to thrive and grow during the pandemic.
Access to Right Knowledge and Expertise Improving Practice Efficiency
With the increase in operational complexities post the pandemic outbreak, healthcare providers are required to respond quickly and accurately to COVID-19 demands. For this, medical billers and coders have to learn and adapt to changing payer conditions and coding requirements at a speed much faster than the regular learning curve.
Outsourcing your medical billing to talented billers and coders can help you to stay up to date with the latest developments in the healthcare industry. With their years of industry experience and accrued expertise, they can assist you in filing your claims properly and thus, bring greater streams of revenue flowing into your practice.
Optimized Reimbursements Enhancing Cash Flows
With outpatient care increasingly being delivered via telehealth, there have been constant additions and modifications in the coding and billing requirements. The changing guidelines have adversely affected revenue cycles and as a result, improving reimbursements has become the topmost priority for healthcare practitioners today.
Outsourcing your medical billing to trained and certified professionals in this scenario can ensure correct coding and rules, thereby facilitating better refunds for your practice. An outsourced medical billing partner can reduce your claim processing intervals and boost your revenue potential with streamlined reimbursements.
More Focus on Patient Care with Reduced Administrative Burdens
Post the COVID-19 outbreak, there have been many modifications in the payer policies as well as numerous regulatory changes. With these changes, the administrative duties of healthcare practices have also increased. As a result, physicians are compelled to focus more on preventing penalties than on providing patient care.
Outsourcing RCM services to a medical billing company can enable you to provide optimal patient care while all the administrative responsibilities are being taken care of. An outsourced medical billing partner can help you to meet all compliance and regulatory standards while also empowering you to offer high-quality care and attention to your patients.
CS EYE is offering effective solutions to pull healthcare providers out of this grave crisis. Get in touch with us to know how our outsourcing medical billing to us can help you to boost your revenue cycles and improve patient satisfaction.