WILMINGTON, Delaware, April 9, 2013 /PRNewswire/ --
With the Family Physicians revenue cycle management in a state of transition due to the upcoming Affordable Care Act (ACA), Medicalbillersandcoders.com has witnessed a large demand from Family Medicine practice centers across the US keen on outsourcing their billing functions to MBC in order to enhance their RCM.
The ACO impact on Family practice billing and coding
The impact Accountable Care Organizations (ACO) will have on these practices explains the reason behind an increased number of Family practices currently rushing to MBC for their billing solutions.
Though the ACO environment may benefit these practices by promoting primary care hence making it accessible and improving provider reimbursements, it also brings with it many changes as it prompts federal and commercial payers to change the way they make payments. The challenge it provides to Family practice billing and coding is that they would require transitioning their reimbursement models from volume-based to value-based to a higher number of patients with little time left for billing.
MBC's billing and coding experts believe that "Family Physicians within the next five years will need to adopt the new revenue reimbursement models as a result of ACA. Though this may seem simple enough, practitioners will need to work much harder to maximize their revenues."
Identifying resulting revenue transition challenges
MBC understands that in the ACO environment accurate medical coding and billing is vital to maximizing revenue, being aware of the resulting issues they face with this transition, -
- Lack of knowledge - Most Family Practices from a recent survey understand the value of population health management, but are at a loss on how to put these strategies into practice
- Increased administrative burden, cost and time - practices need to prepare and gear up for short-term disruption of patient care and resulting administrative activities, to procure maximized eventual longer term benefits of improved patient experience and reduced costs
- Lack of management - Though an avenue for practices to successfully move forward, most practices lack guidance and support in this area to help them acquire maximum benefits
How MBC has been guiding Family Medicine Practitioners
Medicalbillerandcoders.com is aware that improved Family Practice revenue cycle management requires in-depth, insider industry expertise of the new coding, billing and compliance regulations. MBC specialists continuously correlate higher practice revenue to timely billing and account reimbursements, offering best billing strategies, models and consultancy and providing guidance in areas like population health management.
MBC's certified coders and billers understand that correct procedures are essential for revenue maximization. By providing accurate quality control and legal compliance, MBC has successfully undertaken Family Practice revenue cycle management coding for larger groups as well.
Family Medicine Practitioners maximize their revenue with MBC as:
- Billing experts manage to stay updated about rules, edits, coding regulations and documentation requirements unique to the Practice's revenue cycle management, providing the required knowledge and guidance to implement the best strategies
- Family practice billing specialists with the right expertise can handle the complexities presented during billing and correct usage of modifiers, helping reduce costs significantly
As smooth processes and efficient technology support Family Practice centers to effectively reach out to a higher number of patients, it also increases their chances of increased revenue. Healthcare specialists across all 50 US States (California Medical Billing, Florida Medical Billing, Georgia Medical Billing, New Jersey Medical Billing, Ohio Medical Billing) considering streamlining their RCM process are engaging themselves with MBC to utilize revenue management & consultancy services.
Medicalbillersandcoders.com is the largest 'Consortium of Medical Billers and Coders,' across the US. The portal brings together hundreds of billers, with experience in different specialties (Internal Medicine Billing, Cardiology Billing, Podiatry Billing, Radiology Billing), on the same platform to service physicians in their local areas. This network of coders and billers is growing rapidly and is currently servicing over 50 specialty physicians, across the US.
Tags: Medical Billing Services