OBGYN specialty practice should hire an OBGYN specialized RCM service provider- Here’s why?
When it involves Revenue Cycle Management and medical billing services, there’s no universal answer. This is a fact and is particularly true with specialized medical billing and RCM services for OBGYN practices. Having access to a team of highly-trained billing and RCM specialists will enhance your productivity. It can also assist your OBGYN practice keep within your budget. It’s important to own a team that may assist you along with your reimbursements whereas preventing problems in the long run.
Using OBGYN-specialized RCM and medical billing services has several advantages. A tailored RCM service will assist you to follow ever-changing CMS and public health care updates. As well, it will check that you keep compliant with current regulations and guidelines. Your OBGYN practice will be able to assign crucial administrative tasks to the hired OBGYN outsourcing provider allowing you to specialize in your patients’ care. Most important of it all, you’ll be able to get real results and increase your reimbursements and insurance collection rates. Here’s an outline of outsourcing OBGYN RCM services and the way they will benefit your OBGYN practice.
General OBGYN practice workflow:
OBGYN RCM and billing processes are multi-step methods. Once an OBGYN provider records a diagnosis and procedure code supported by these services. These codes facilitate the payer (insurance) to confirm coverage supported by varied factors, like a medical necessity.
There many many codes that the OBGYN provider has got to select from, counting on the service provided. a couple of samples of these codes include
- 59400 – Routine obstetrical care, antenatal care, channel delivery, postnatal care
- 59425 – antenatal care solely, four to six visits
- 59426 – antenatal care solely, seven or a lot of visits
- 59514 – cesarean section solely
- 59515.- cesarean section and postnatal care
These are just a few codes, however a couple of the numerous completely different ones employed by insurance corporations to designate the services provided. Once they confirm the right code, the medical biller transmits the claim to the billing and RCM team where they verify and file the claim to the respective payer.
The payer or the insurance company then processes the claims via adjusters or medical claims examiners. For the foremost high-dollar-value claims, the payer pays medical administrators to review the services and confirm their validity for payment. Approved claims get reimbursed for a fixed proportion of the claim services. The payer or insurance then negotiates this proportion with the rendering provider. If the claim gets denied, the OBGYN provider can reconcile the request with the first one, modify it, and return it. This method might need many repetitions till the OBGYN specialty practice receives the claim payout fully, or the OBGYN provider accepts that the payment is going to be incomplete. However, this can be rare. Most claims get accepted, and solely a little quantity gets denied.
Why you should hire an OBGYN-specialized RCM service provider?
There are various benefits to hiring an OBGYN-specialized RCM service provider to take care of all the RCM processes some of them are more useful than a provider might think, here are a few of the benefits that you receive from outsourcing your RCM processes to an expert OBGYN medical billing and coding services provider.
Removing OBGYN work burdens:
We perceive that the work of OB-GYN specialty practices is incredibly sophisticated. it’s terribly troublesome for an OBGYN physician, nurse practitioner, or their RCM and administrative staff to stay track of all the OBGYN medical coding updates and guidelines including the best practices. Hence, an OBGYN RCM services provider will unburden these tedious RCM tasks as a result of their high expertise in OBGYN RCM processes.
Reduce medical billing errors:
Patients want constant care. The work of doctors is to supply care, support, and a spotlight to patients. An OBGYN provider similarly to his or her workers can forever be on their toes. Moreover, there can be emergencies at any time. During this busy schedule, it’s troublesome to juggle RCM, medical billing, and coding processes and keep an updated list of billing guidelines and codes for OB/GYN. This neglect is avoided if the OBGYN specialty practice hires a specialized RCM service provider.
Decreases manual repetitive and paperwork tasks:
Apart from the RCM process, billing and coding include a ton of documentation and paperwork necessities. Similarly, there’s loads of back and forth needed from patients and insurance corporations to induce remuneration and payment. One should send emails, letters, and even prolonged calls to obtain this info and update this properly in their respective EHR/EMR or PMS. If you miss or create any errors during this work, there are possibilities of claim delay and even claim rejection. Thus, to avoid these errors, it’s vital to own an expert RCM outsourcing partner who will take care of all of your billing documentation and paperwork work and can keep track of the claims.
BillingParadise is one of the experts in OBGYN RCM services and has client testimonials to prove it. We have ramped up revenue for our clients that had more billing errors and bad debt write-offs. They were amazed at our staff performance and have used our end-to-end RCM services for the betterment of their practice and financial well-being.
Our OBGYN RCM, billing and coding teams are ready to hear your concerns and provide results-based evidence that can streamline your RCM processes. Schedule an in-person visit or a virtual meeting with our OBGYN RCM team!