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Challenges in Medical Billing Services and Medical Billing Services for small practices

Every business has its own set of important operations. Healthcare, however, differs from many other businesses. It involves the critical matter of clinical treatments and along with that there are all the other procedures of management, billing and so on. Starting from the moment patient steps in the clinic to providing the right medicines, taking care of and planning inventory, completing Billing services, all the process requires an agile approach. Not to forget there are all sorts of insurance verifications, medical claims to be settled, collections and payments to be done.

So, to manage an entire healthcare facility calls for good amount of resources to leverage the potential of the intricate administrative process and serve the ever expanding volume of patients. Especially for small practices a number of challenges are there every single day from the payment models to introducing new technologies, different certifications and such.

Thus, from big to small, every sized medical practitioner has to face challenges when it comes to billing and operational tasks.

One of the biggest challenges faced is that of claim reimbursements. A lack of ineffective system and inefficient personal amount up to greater losses than one calculated.

Another key challenge lies in the fact that the physician themselves have to be administrators. Now, that is a bit too much when you want to conduct a good practice, provide high quality service to your patients. Would one look into the inventories and administrative tasks or serve the patients!

With the introduction of technology, the ways of services are improving. The patient’s health track record is being managed well. However, without a good software and assistance, medical billing can be complicated and tiresome process.

  1. There must be a clear cut policy about payment methods before checking in the patient for any big and costly services. Whether it would be credit pay or not must be ensured at the start to avoid any hassles post the procedures. The patient’s care takers must be asked about any insurance they might have and about the rest of the bill’s down payments
  2. It might be possible that the patient is unaware of the insurance coverage. Thus, the healthcare facility can make it an automated process. There is technology available nowadays to verify insurance automatically. This practice will help avoid any revenue losses and future billing hassles.
  3. Always double-check all the specific procedures that the patient’s insurance company would reimburse. There are many provides who deny certain procedure claims. In such case, you can offer the patient with a payment plan.
  4. Healthcare providers must be aware to use the right set of billing codes of services and procedures they offer. And at the same time, they must ensure that they know about any updates being made in the codes and thus, keep reviewing them. 

All of this to be done in-house can be a humungous task for small practitioners. In such a scenario, it is always wise to outsource the operations and focus on the core services. At Iatriki, we offer specialist Medical billing services to many different practitioners, some of whom are specialised and some of whom have a small practices and are growing. If you want to stay ahead and provide the best medical services, leave the coding and billing task to us.