As an OB/GYN practitioner, if you look into this topic, you are probably finding a way out of the medical billing process. Medical billing often is a challenging task for OB/GYN practitioners. But what makes medical billing a tough practice in OB/GYN specialty?
- Shortage of OB/GYN billing experts
- Over 1700 codes
- The constant changes in terminologies used in coding
- Regular updates in procedural coverage and recommended tests
- Tiring patient collection process
- Unawareness of medical billers about diagnoses that support each CPT
- Complex administrative tasks
- Complicated invoicing
These difficulties transform the productivity of this specialty into revenue loss and mismanagement. Medical billing tasks can be quicker and more efficient with the necessarily trained workforce. However, this is often not the case. And thus, the practitioners and clinics suffer.
Why Do OB/GYN Practitioners Need Medical Billing Services?
Medical billing is a significant component of a physician’s practice. Efficient billing and coding can give you an equally positive outcome for patient care as quality treatment can. Contrarily, poor billing and coding can bring your revenue down. But, third-party billing companies have certified professionals who understand various complex OB/GYN guidelines, such as:
- Final character for trimester
- Fetus identification with seventh character
- Trimester selection for inpatient admissions mid-way pregnancy
- Alcohol and tobacco consumption during pregnancy Or Puerperium
Any compromise in the billing process can damage the reputation and value of your practice. It is essential to give a good amount of attention to the billing process to ensure you don’t leave errors behind. Third-party medical billing companies are the optimum solution to this concern. Therefore, OB/GYN practitioners are encouraged to outsource medical billing services. Below is a list of tasks that these services take control of:
- These services can facilitate the coding and billing automation for OB/GYN procedures
- They update the billing system and software with suggested tests and CPT-supporting diagnoses
- Before filing claims, these services monitor the billing and coding procedure, which reduces the rejection rate
- They are committed to following up on the claims process and pre-authorization related procedural specifications of different insurance companies
- They identify the underpayments by insurance companies
- They monitor claim denials and fix them within the turnaround time
- They collect the accounts receivables from the patients
Practitioners can put their revenue and cash flow at risk without good insights into the billing process and revenue cycle management. On the other hand, handing over your billing responsibilities to outsourced OB/GYN billing services leaves the medical billing challenges to be dealt with by professionals with web-based solutions.
Reasons To Outsource OB/GYN Medical Billing Services
Let’s discuss why you should consider switching from your in-house billing team to outsourced OB/GYN medical billing services.
Accurate Filing Of Claims
Medical billing companies have teams of experts who offer a complete focus on data entry, leaving no or minimum room for errors. The certified billers and coders ensure accurate documentation, coding, and billing process. This leads to reduced chances of claim denials.
Revenue Boost
Outsourcing your OB/GYN medical billing gets you into a win-win situation. On the one hand, it takes over administrative tasks, billing and coding responsibilities, and revenue cycle management. On the other hand, the former spares more time and money to the practitioner, which can be invested in the practice and patient care.
Medical billing services allow you to save on costs such as infrastructure, upgrading and maintaining billing software, and employee headcount. Where 30-40% of an OB/GYN practitioner’s income goes to these costs, outsourced medical billing services help you cut down a big chunk of money.
Medical billing companies use the latest techniques and technology to handle coding and billing tasks. Thus, practitioners have complete access to financial reports and details, management reports, and patient data. You can experience decreased overhead costs, quicker claims submission, and higher reimbursements. All of these benefits will eventually give you higher revenue.
Specialty-Specific Experts
Since every medical specialty requires a different set of coding techniques, billing systems, and claim processes, OB/GYN needs experts who are specialized in this particular specialty. Outsourcing OB/GYN billing services gives you the advantage of assigning an important practice component to a certified and well-trained team. With the assistance of this team, your medical billing and claims fulfill the pay-for-performance requirements.
Updated With The Changing Regulations
The fully-occupied schedules of OB/GYN practitioners do not leave them with sufficient time to follow up on the constantly changing rules and regulations of medical billing. Contrarily, continuing OB/GYN practice without complete knowledge of the updated guidelines and regulations is also unacceptable. An OB/GYN practice must be aligned with HIPAA, ICD-10, etc.
Outsourcing OB/GYN billing services guarantees efficient billing process management with the latest updates. This allows the practitioners to emphasize operational tasks and patient care.
Better And Improved Control
Transparency gives practitioners a sense of control. With outsourced OB/GYN billing services, you get a fully transparent revenue cycle and billing system. Thus, even after outsourcing your billing process, your payment control significantly increases.
Conclusion
Having a successful medical practice is the dream of every practitioner. Bringing efficiency to your practice demands efforts and time invested in patient care and billing. Outsourcing OB/GYN billing services will help you achieve both. The certified experts will elevate your billing process, leaving you with ample time to focus on patient care, leading to a guaranteed advantage of higher revenue.
About The Author
Michelle Joe
Michelle Joe is a blogger by choice. She loves to discover the world around her. She likes to share her discoveries, experiences, and express herself through her blogs. You can find her on twitter
