- March 25, 2020
- Posted by: Thomas Anderson
- Categories: Medical Billing, Medical Billing Company
High compensation expectations, lack of unique skill sets, US healthcare organizations are wrestling with a challenging duality. With the unemployment rate near a 50 year low and a record number: 157.9 million of Americans employed, healthcare is no exception that other industries which already have a fewer workers available. The monthly job growth as reported by the Bureau of Labor Statistics has slowed down from 223,000 to 158,000 by this year.
The industry leaders are operating in a challenging environment while healthcare is witnessing a shift to value based care while navigating a changing regulatory environment. Almost 65% of the patients are quite open to switch their healthcare providers extending a better payment experience in all proportions.
We now live in a world in which anything you want or need is just a few clicks away. Physicians have to consider how their patients are treated during the collection cycle. They surely look for more information how much they are responsible for paying upfront.
According to the Mercer’s stats, Home health aides top the list with an estimated shortfall of 446,300 in a seven years time by 2025!
Intermountain Healthcare’s CTO, Karl West clearly emphasized in HIMSS19 for a strong partnership between the cyber / operations and the revenue cycle. Keeping systems patched for preventing a host of data being lost from the revenue cycle is a top priority among the providers.
Increasing Cost and Time is Facilitating Automation in Medical Billing
The question with many medical billers right now is “Does automation takes away my job?” Ideally, automation allows the billers to have a faster and smarter approach, eliminating unnecessary manual processes that can delay collections like processing of claims.
It allows staff to focus on one thing that automation fails …interact with the patients! Software lacks the ability to show empathy while patient needs the right interaction approach through the payment process. The only reason why patient experience is so important! And so face to face contact and discussions are helpful on the emotive and empathetic side of things, which is why we need a continuous influx of healthcare workers. And we need them to be supported and stress-free themselves to deliver this kind of service to patients. Luckily, these days many of those in this sector have access to mortgage loans, life insurance, and so on (visit https://www.leveragerx.com/physician-mortgage-loans/ for more details). This way, healthcare professionals can provide for themselves and their physical and mental welfare so they can deliver the same support to their patients.
Sunknowledge Services Inc: A Next Gen Medical Billing & Collections Destination
Currently serving the largest DME company in East Coast and extends its foot print to the Hawaii islands in the West. Our understanding of Medicare & Medicaid, commercial insurance across jurisdictions is unique in the competitive landscape. We currently have more than a 100 clients in HME/ DMEPOS space.
Our team delivers assistance in both pre billing/ post billing requirements in the DME/Orthotics & prosthetics segment. As a reliable operational arm, our team is proficient across all major billing systems like Brightree, Kareo, OPIE, Fastrack, CPR+ HME, TEAMDME and many more, offer seamless transition. Also, we are capable with any client proprietary platform and deliver according to your protocols.
We offer you better visibility for the 2021 DMEPOS bid as we allow you to bid lower with an instant reduction of billing costs by 80%.
|Pre Billing||Eligibility Verification – online|
|Eligibility Verification – online (with same/similar check)|
|Eligibility Verification – calling (with same/similar check)|
|Eligibility Verification – calling (with same/similar check) BCBS|
|Prior Authorization (with dr.’s office follow/up) / Re-authorization|
|Dr.’s office follow-up|
|Order entry (patient, provider, insurance, item etc.)|
|Post Billing||Rejection management|
|Posting – auto (without audit)|
|Posting – auto (with audit)|
|Posting – manual|
|A/R & Denial Management|
|Support Activities||CPAP Compliance (with patient counseling calls)|
|Re-supply order calls (to patient to confirm requirement)|
|Hold (eligibility, auth, ins. change, manual hold etc.)|
Let us share with you our ideas of a business synergy with you over a “No commitment call“. Leverage the Sunknowledge opportunity for a complete RCM experience.