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Category: Medical Billing

February 21, 2024 by AMS Solutions 0 Comments

There are many elements to your practice’s revenue cycle management, but one of the central players is the accounts receivable or A/R, as we call it. From the moment a patient’s invoice goes out the door, the clock starts ticking! Understanding how time is a crucial factor in your accounts receivable management can help optimize your revenue and avoid financial losses.

What Is Accounts Receivable?

Accounts receivable (A/R) are the invoices or reimbursements owed to your medical practice, hospital or healthcare organization. Once your medical billing team submits a claim to a health insurance company or charges a patient on your behalf, the A/R process begins. After the bill is reimbursed to your practice, the account is no longer in A/R. 

The longer an account stays in A/R, the less money your practice collects. If this metric piles up and after writing off “bad debt”, your business’s lost revenue will increase, resulting in less cash flow to maintain operations and continue providing care to your patients.

Accounts Receivable Aging

Aging in A/R is a metric used in healthcare revenue cycle management to track the time of outstanding accounts receivable. It is a vital report that categorizes outstanding invoices by the length of time they have been unpaid. This allows to identify overdue accounts, how long they have been outstanding and the data obtained is critical for managing cash flow, identifying trends in payment patterns, prioritizing collections efforts and keeping track of your revenue cycle’s health.

In healthcare RCM, we categorize A/R based on timeframes, usually in 30-day buckets:

  • 1-30 days
  • 31-60 days
  • 61-90 days
  • 91-120 days
  • 120+ days

Our RCM industry experts recommend keeping your average days in A/R to 35 or less and the unpaid claims older than 90 days in 10% or less.

Trust in Medical Billing professionals to handle your A/R

At AMS Solutions, we count on a team of experts at your service that will work strategically implementing actions during key windows while managing your Accounts Receivable — No matter the size: From solo private practices, clinics and hospitals to large healthcare organizations in the United States. Learn more about AMS Solutions’ RCM and medical billing services by scheduling a quick intro call.

February 2, 2024 by AMS Solutions 0 Comments

We’re in the middle of deductible season: The time of year when most insurance plans reset deductibles back to $0 and in the meantime, patients are responsible for the full contracted rate of their sessions until they have finally met their set amounts. So, what exactly does this mean to your practice?

Deductible season lasts typically the first three to five months of the year, depending on your location, medical specialty and the patient volume you support. This can be really tough on medical providers for a couple of reasons: First, without insurance payments coming in, your practice’s income can take a hit at the beginning of the year. Second, patients will be receiving higher bills than usual and not all of them will feel prepared to pay these amounts, which can become a financial burden for your business if they go overdue on their balances.

Every healthcare provider can implement targeted strategies to navigate their unique challenges and the financial landscape of the season effectively, especially when you partner with a team that knows the ins and outs of Revenue cycle management to keep your practice in good financial health through these months. 

How to avoid delayed income during this time?

Up-to-date Documentation

As a medical provider, you must ensure that all chart notes and other paperwork requested are completed and sent to insurance companies on time, typically before the end of the previous year. This proactive approach ensures steady payments at the beginning of the deductible season and help your medical billing team keep a steady revenue flow more effectively.

Eligibility Check

Always check insurance eligibility for every patient, and this includes Medicare! Look for the following items when checking eligibility and verifying benefits:

  1. Does the patient have an active policy? What is the effective date of that policy?
  2. Does the patient have a co-pay, deductible, coinsurance, or an out-of-pocket maximum?
  3. Does the service you provide require a prior authorization or a referral?
  4. Does the patient have any secondary insurance?

Payment Collection

The easiest and most effective way to minimize the impact of deductible season, is to collect payments as accurately as possible at the time of service. Unless an insurer bars you from billing a patient (such as Medicaid).

Chances of collecting payments for deductible and co-insurance that apply to your service or co-pay balances drops 62% as soon as the patient walks out the front door according to the National Association of Healthcare Access.

Remember to always remind patients (verbally, in writing, or online) of their financial responsibility. Whether it is keeping insurance updated, patient contact information updated, and a friendly reminder that most insurers require the patient to pay the provider some portion of their bill – even Medicare.

Accessible Patient Support

One efficient solution is to offer patients the option to pay balances and submit billing questions online in real time, on their terms and not be limited by business hours or staff availability. This action not only modernizes and improves the patient’s experience but increases patient collection speeds, reduces paper statements and staffing costs while improving operational efficiency.

These strategies will help your medical practice keep a better cash flow during this deductible season. If you find yourself seeking a reliable partner to navigate these challenging times, contact us today for all-inclusive medical billing solutions tailored to your practice.

December 9, 2023 by AMS Solutions 0 Comments

Healthcare is a complex and rapidly evolving field, and one of the most critical elements for any smoothly functioning medical practice is primary care billing and coding. These are the processes vital for making sure that services, treatments, and more are all billed accurately and efficiently, and have a direct impact on both revenue and patient satisfaction. AMS Solutions specializes in simplifying these intricate procedures, offering tailored services that cater to the unique needs of primary care providers. Let’s take a closer look.

What Is Primary Care Billing?

Primary care billing is a foundational, though highly complex, aspect of healthcare management, encompassing a range of services from routine check-ups to the management of chronic conditions. Unlike specialized medical billing, primary care billing deals with a broad spectrum of patient needs, requiring a diverse understanding of billing codes and insurance policies. At the heart of this process is the need for accuracy and promptness, ensuring that healthcare providers are reimbursed for their services without delay.

Effective primary care billing hinges on a deep comprehension of the latest billing guidelines and regulations. It’s not just about submitting claims; it’s about understanding the intricacies of insurance plans, patient eligibility, and the ever-evolving landscape of healthcare policies. This is where AMS Solutions shines, offering expertise and technology-driven solutions that streamline billing processes, reducing errors and enhancing overall efficiency.

Key Guidelines for Primary Care Coding

Primary care coding is a detailed and precise process that demands a thorough understanding of medical terminology and coding systems. This is where specific guidelines come into play, guiding primary care providers in accurately coding diagnoses and procedures. Making sure these codes are correctly applied is a major part of keeping reimbursement rates and compliance up to par. 

One of the key elements in primary care coding is the use of the International Classification of Diseases (ICD) codes, which must be updated regularly to reflect the latest medical findings and treatments. In addition, primary care practices must stay abreast of the Current Procedural Terminology (CPT) codes, which relate to the various medical, surgical, and diagnostic services offered. Staying informed and compliant with these coding standards is a demanding task, but it’s crucial for the financial health of any primary care practice.

Challenges in Primary Care Billing and Coding

Despite the best efforts of healthcare providers, primary care billing and coding can present several challenges. Common issues include:

  • Coding Errors: Misapplying codes is a frequent issue that can lead to claim rejections.
  • Undercoding and Overcoding: Undercoding results in lost revenue, while overcoding can trigger audits and lead to penalties.
  • Constantly Changing Regulations: Keeping up with these changes is crucial to ensure compliance and prevent legal issues. This requires ongoing training and updates, which can be resource-intensive.
  • Navigating Insurance Policies: Dealing with various insurance plans and understanding their specific policies and coverage limitations is a significant challenge.

Best Practices for Effective Billing and Coding

Adopting best practices in primary care billing and coding is essential for maintaining efficiency and accuracy. These include:

  • Regularly training staff on the latest coding updates.
  • Implementing thorough documentation practices.
  • Using advanced billing software for accuracy and efficiency.

These strategies help in minimizing errors and optimizing revenue.

Trust AMS Solutions to be Your Partner in Primary Care Billing and Coding

While the primary care billing and coding space can be complex for a small or medium-sized practice to effectively navigate, we make it simple and reliable. Our expertise ensures that your practice’s billing and coding are handled proficiently, freeing you to focus on patient care. Partner with AMS Solutions for seamless, efficient billing and coding solutions tailored to your practice’s needs. Reach out today to discuss your organization’s needs and to get started.

Two young women doctors sitting on the sofa
October 15, 2023 by AMS Solutions 0 Comments

Medical billing is a critical component in the healthcare industry, bridging the gap between healthcare providers and insurance companies. It’s a process that ensures medical professionals are compensated for their services. However, as with any rapid-evolving industry, the various complexities and nuances involved can pose challenges for many medical practices, leading to delayed or denied claims, which in turn affect the cash flow and overall financial health of the practice.

This is where medical billing companies come into play. They take up all of the administrative work needed for the billing and coding, which would normally be done by in-house staff, allowing the workforce of a healthcare provider to focus more closely on the care they provide to their patients. We’re going to look at what these medical billing companies do, how they work, and look at how outsourcing medical billing can help your business. 

What Do Medical Billing Companies Do?

Medical billing companies are one of the most effective ways to streamline a provider’s reimbursement process and shorten the billing and payment cycle. They are responsible for taking the medical services and procedures that are performed, translating them into the industry standard codes, and submitting claims for reimbursement. 

The journey of a reimbursement claim typically begins with patient visits, where coders convert the diagnoses and treatment details into universal medical codes. Following this, medical billers prepare the claims, ensuring they are error-free and compliant with insurance regulations before submitting them to the respective insurance providers.

Most medical billing companies will also follow up on submitted claims, address any denials, and ensure that the healthcare providers are reimbursed accurately and promptly. They can offer other administrative services as well, like analytics, collections, and more. 

Is It Important To Have A Medical Billing Company For My Medical Practice?

For most small and mid-sized practices, the importance of partnering with a dedicated medical billing company is hard to overstate. They serve as a buffer, ensuring that your medical practice remains financially stable and compliant with ever-evolving healthcare regulations. Medical billing companies possess the expertise to handle complex billing issues, reducing the likelihood of errors that could lead to claim denials or delays. They also free up time for your medical staff, allowing them to focus on patient care rather than administrative tasks.

Benefits of Hiring a Medical Billing Company for Your Practice

Providers that outsource their medical billing needs to a dedicated billing company can reap a range of benefits. Here are just a few of the benefits that your organization could see:

  • They have the expertise and technology to scrutinize every claim for errors
  • They stay updated on the latest coding standards and insurance policies
  • They can actionable insights into your billing processes
  • They allow your staff to focus on your patients

How AMS Solutions Leads In Effective Medical Billing

AMS Solutions is seen as a leader in the medical billing field and employs a team of dedicated and specialized professionals. Our specialists nimbly navigate the complex landscape of healthcare billing. We take the time to tailor our services to match the unique needs of each medical practice, ensuring a seamless billing process from patient visits to final reimbursements. We also lean on cutting-edge technology to ensure accuracy and compliance in every claim, significantly reducing the chances of delaying or denying your payments. 

Trusting another entity with your medical billing and coding needs is a big step for any practice, but even more so for practices that don’t have money to waste. However, partnering with AMS Solutions is a step towards financial robustness and operational efficiency for your medical practice. Let us help you elevate your practice to the next level of provider service, reach out to AMS Solutions today.

Electronic,Medical,Accounts,And,Codes.,Bill,Audit,In,Office
October 12, 2023 by AMS Solutions 0 Comments

The processes of medical billing and coding are critical to the healthcare industry, but there are still countless people who wonder what do medical billing and coding do. The job actually requires a substantial blend of medical knowledge, technical skills, and attention to detail, and it helps make sure that healthcare providers are paid accurately and on time for the services they render.

In this post, we’ll be taking a more in-depth look at the job of medical billing and coding, and the processes behind them. We’ll also look at some of the challenges that can pop up from time to time, and how a billing and coding administrator like AMS Solutions is prepared to help your organization scale rapidly.

Understanding The Job Of Medical Billing and Coding

To get a better idea of what medical billing and coding are, you’ll need to understand that both are distinct but closely related functions within the healthcare industry. 

Medical billing involves the process of creating billing claims from provided healthcare services and submitting these to insurance companies for reimbursement. On the other hand, medical coding is the translation of medical diagnoses, procedures, and equipment into universal medical alphanumeric codes. These codes provide a standardized language, which is essential for ensuring accurate billing and record-keeping.

The symbiotic relationship between billing and coding ensures that healthcare providers are reimbursed accurately and promptly, which in turn, supports the financial health of medical establishments. Both functions are critical in maintaining the integrity and efficiency of the healthcare financial ecosystem, easily illustrating why the field is critical.

The Process of Medical Billing

The process of medical billing is pretty meticulous. When a patient visits a healthcare provider, their demographic and insurance information is recorded. Afterward, all of the information is used to generate a bill that delineates all of the services rendered and their costs. This bill is typically then submitted to an insurance company for review and eventual payment. One of the biggest factors in the process is the intricacies, which demand a high degree of accuracy to ensure proper reimbursement.

The Process of Medical Coding

Medical coding, the counterpart to medical billing, is equally vital in the healthcare reimbursement cycle. It entails recording the various diagnoses, procedures, and treatments into codes that are universally recognized. These codes form the basis of billing and ensure that the services provided are accurately represented and reimbursed. The coding process begins with the review of medical documentation from which the relevant codes are derived and then used in the billing process. Accuracy and timeliness in coding are paramount to prevent claim denials and delays in payment.

How AMS Solutions Can Assist

AMS Solutions is one of the most trusted and proficient medical billing and coding administrators by creating a team that is well-versed in the latest coding standards, billing regulations, and insurance requirements, ensuring that your medical establishment remains compliant while optimizing revenue collections. We help alleviate the heavy administrative burden that comes along with having to keep an in-house billing and coding team up to the demands of an ever-changing industry. This way, you’ll be able to focus on what matters most, providing the care you’re known for. 

Partner With AMS Solutions For Hassle-Free Billing and Coding Administration

Understanding medical billing and coding is crucial for maintaining the financial viability of any provider. The intricate and often confusing practices involved in billing and coding are the linchpins of the entire healthcare reimbursement cycle. If you think it may be time for your organization to leave the billing and coding to the professionals and focus on your patients, reach out to AMS Solutions today. 

September 30, 2023 by AMS Solutions 0 Comments

Those who work in the medical field have a significant amount of responsibility. Not only the doctors and nurses who treat you but also the coding and billing professionals that work behind the scenes on paperwork and medical records. There are countless medical regulations and processes that go into medical coding, and it is crucial that the coding is done properly. We’re going to look at what proper coding is, and exactly what is the importance of knowing proper CPT coding.

What Is A CPT Code?

CPT stands for Current Procedural Technology, and CPT codes create a uniform reporting and coding language that is used to make reporting easier, as well as more efficient and accurate. CPT codes are used for medical billing that is either five digits, or four digits and one letter long, and they indicate medical or administrative management procedures. They are used for claims processing as well as for the creation and modification of medical care review guidelines.

Why Is Proper CPT Coding Important?

Most medical facilities rely on insurance providers for the majority of their funding and revenue. Other sources like healthcare programs contribute as well, but the greatest portion is provided by insurers. Insurance companies make their money by charging policyholders a premium, or fee, that is often paid monthly. Since there are many more people who have insurance than are sick at any one time, it allows the insurers to cover most of the medical expenses or costs for those who hold policies. That said, there is a huge portion of income coming from reimbursements, and a very tiny share coming from patients’ pockets. 

 

This is why proper CPT coding is so crucial. Every single patient that visits a hospital, care center, or doctor’s office has a file of medical records that need to be kept updated and accurately documented. If the coding and billing are done incorrectly, it can result in the hospital losing significant amounts of money in lost reimbursements. Additionally, accurate and correct billing and coding are needed to ensure that patients are being charged more than they should be and that their respective insurer is charged the correct portion of the costs.

Types Of CPT Codes

There are codes assigned for every potential procedure or service that medical providers can provide or perform. CPT codes even include many unlisted codes for procedures or special services that are not specified in other unique CPT codes. There are three categories of CPT codes created by the AMA, the categories are:

CPT Category I

Category I contains the largest body of standard codes. These are the codes most commonly used by healthcare providers to report frequently used services and procedures.

CPT Category II

Category II contains supplemental codes that are used for performance management and other administrative purposes. There are codes relating to patient history, diagnostics, patient safety, and follow-up procedures.

CPT Category III

CPT Category III contains the most infrequently used CPT codes. It also contains temporary codes that are used to code and bill experimental services, rare procedures, or emerging treatments. 

Understanding CPT Codes And The Importance Of Proper Coding Is Vital For Accurate Recordkeeping

Hopefully, we’ve been able to shed some light on just why proper CPT coding is so essential to the continued operation of healthcare facilities. Without accurate and proper CPT coding, patients would be charged wrong amounts for procedures they never had performed, and the facility would lose out on potentially millions in insurance reimbursements. This can jeopardize not only the health of patients but the longevity of the medical facility as well. 

Insurance,Claim,Form
September 12, 2023 by AMS Solutions 0 Comments

Are you looking to get into the medical billing career field? Then it’s important that you know what that job will entail based on the type of facility you’re working for. There are clear differences between billing between healthcare and other industries within the medical field. The processing of medical claims across varying facility types and specialties is significantly different. No matter what, medical billers work with one of two types of billing: institutional billing or professional billing. We’re going to look more closely at the differences between facility vs professional claims.

What is Professional Billing?

The staff in a doctor’s office handles many different tasks, from greeting patients and getting them checked in, to scheduling appointments and collecting money. Medical billing is also handled within the office as well. The claims that are generated for the work done by suppliers, physicians, and other non-institutional providers are considered professional billing.

 

These professional charges are billed on the standard CMS-1500, which is a red ink on white paper claim form that both suppliers and physicians use for claim billing. Not all claims are billed on paper. Most insurance companies, including Medicare and Medicaid, primarily accept electronic claims. When the claims are submitted electronically, it’s the 837-P rather than a CMS-1500.

What is Institutional Billing?

Institutional billing is the billing of claims for work done by institutions. Healthcare facilities like hospitals, nursing homes, and similar facilities that offer inpatient and outpatient services use institutional billing. Not only will it include services performed by the facility, but also the use of various pieces of equipment, the use of laboratory services, radiological imaging services or equipment, and more.

Biggest Differences Between Billing Types

When you compare the basics, it may seem like there isn’t much difference between professional and institutional billing. However, there are some key ways they are separated. The biggest differences between a facility claim vs a professional claim are the duties available as well as the types of forms used. 

Different Forms

Professional billing claims are billed using a CMS-1500 form. The CMS-1500 is a standard form that has red ink on white paper. It is used not just for physicians, but for supplier claim billing as well. If the billing is done electronically, the digital version of the CMS-1500 is the 837-P, with the P standing for professional claims.

 

Institutional claims are billed using a form called a UB-04. The paper version of this form is also red ink on white paper and is used for the physical billing of institutional charges. The electronic version of the UB-04 is the 837-I, with the I standing for institutional claims.

Roles Addressed

When looking at professional vs facility billing, there are unique claims for different industries and jobs. Facility claims deal with hospital and laboratory services, while professional claims are for physicians that work in medical offices.

Duties and Skills

Regardless of the type of billing, professional vs. facility, medical billing professionals have a crucial responsibility. Medical billers must learn about five distinct areas of billing, including:

  1. Understanding how to obtain or use information about each insurance company to submit claims efficiently.
  2. Knowing how to perform their duties while maintaining medical confidentiality and avoiding HIPAA violations.
  3. Having a working familiarity with the specific billing software that is used will result in massive time savings for training, will reduce errors, and prevent issues and headaches in general.
  4. Understanding that coordination of benefits information is vital and that submitting claims in the proper order reduces delays in payment.
  5. Understanding that each portion of a medical claim is representative of information collected during the entire time from patient scheduling through treatment.

Doctors,And,Patients,Sit,And,Talk.,At,The,Table,Near
August 19, 2023 by AMS Solutions 0 Comments

Deductible vs. out-of-pocket is a common question asked by people who are considering health insurance and even by health providers who aren’t often experienced in medical billing terms and services.

The Difference Between Deductible and Out of Pocket in Health Insurance

Out-of-pocket healthcare costs, also known as copayments or coinsurance, are a set amount of money that you’re required to pay for certain services on top of what your insurance covers. With deductibles, there are monthly payments that you make before your insurance starts to cover anything at all.

The deductible is the amount that must be paid by the insured before their insurer will start paying for medical care, and it varies depending on the type of plan chosen. An individual may have to pay up to $2,000 in medical expenses before their insurer starts paying anything at all, while a family might have to pay up to $6,000 in medical expenses before the insurer starts picking up more than 50%.

This means that those with higher deductibles can end up paying a lot out of pocket for health care, which is why many choose to have higher monthly premiums to cover that cost. Some plans may offer lower deductibles for a monthly premium increase.

Other plans with slightly higher premiums may have higher deductibles. The type of plan chosen should be based on each individual’s own needs and preferences, so it is best to consult a financial advisor before choosing a plan.

What is a Deductible?

A deductible is the amount of money that a person must pay out-of-pocket before their insurance company will start paying for a medical service. Deductibles are most common in health insurance plans, but some other types of insurance have them as well.

The purpose of a deductible is to encourage people to be more careful about how they spend their healthcare dollars. For example, if you have a $500 deductible, it will take you five months to reach the point where your insurer starts paying for your care. This means that you’ll spend less on healthcare and be more careful about what services you need and how often you use them.

What is an Out-of-Pocket Maximum?

The out-of-pocket maximum is the most you will pay for your health care services. The out-of-pocket maximum is one of the key features of a health insurance plan. The maximum out-of-pocket amount is the most a person will pay for covered medical expenses. It’s what determines how much you will have to pay for your medical services in a given year.

The out-of-pocket maximum can be different from one plan to another, but it’s usually set at a certain dollar amount. For example, the average in 2018 was $3,000 per family. Unfortunately, not everyone can afford to pay out of pocket.

Why Do Some People Pay Out of Pocket?

The Affordable Care Act (ACA) requires that all Americans have health insurance coverage. However, some people are not able to afford the monthly premiums.

Some people may not be able to afford the monthly premiums because they are living paycheck-to-paycheck and cannot justify spending money on something they don’t need like health insurance. Other people may be eligible for Medicaid but do not know how to enroll or don’t want to take advantage of any government assistance programs that are available.

While some people may be eligible for Medicaid, they will often find that the Medicaid plans have high deductibles and copays which can make it difficult for them to get the care they need when needed.

In addition, many doctors are not accepting new Medicaid patients due to low rates of reimbursement from the federal government. If you need help with figuring out insurance policies and terms for your healthcare practice, please contact us today. You can also visit our detailed FAQ at your convenience.

Medical,Invoice,Document,Form,Patient,Concept
July 21, 2023 by AMS Solutions 0 Comments

If you’re an administrator for a healthcare provider or operate your practice, you’ve probably asked yourself, “Should I outsource my medical billing?”, and if so, you’re not alone. In the constantly evolving field of healthcare, countless healthcare professionals grapple with this question every day. Effectively navigating the ocean of complexities of medical billing can be intimidating, overwhelming, and worst of all, time-consuming. So many providers are turning to outsourcing as a solution for their medical billing workload, but is it the right decision for your practice? That’s what we’re going to look at here, so let’s get to it.

Biggest Benefits Of Outsourcing Medical Billing

While each practice will undoubtedly see benefits unique to its operating circumstances and needs, some of the biggest benefits will be seen across most providers. Here’s a look at the most common and prominent benefits nearly every practice can appreciate. 

Time Savings and Efficiency

Without a doubt, one of the biggest benefits of partnering with an outsourced billing provider is the amount of time you can potentially save by outsourcing your medical billing workload. When healthcare providers try to manage billing in-house, the process can be exhaustive, requiring them to balance patient care with tedious administrative tasks.

Outsourcing frees up your in-house team to focus on their core duties. Your front desk team won’t have to juggle billing and appointment booking, and your patient care team won’t need to mix exam room time with 

Access to Expertise and Reduced Errors

Outsourcing your medical billing also gives you access to an army of professionals who specialize in just that. At AMS Solutions, we take pride in being able to deliver our team’s accuracy, up-to-date billing regulations knowledge, and speed, to practices that need help effectively managing their administrative work. This all adds up to fewer errors, quicker payments, and overall smoother daily operations. 

Financial Savings

Another critical point of medical billing outsourcing, and whether or not it’s the right choice for you, is the cost-effectiveness of outsourcing versus keeping the work in-house. Hiring an in-house billing team will, at the very least, require screening candidates, allocating salaries, paying for benefits, conducting onboarding, supplemental or ongoing training as needed, and core infrastructure costs. For small or even medium-sized practices, this can lead to a substantial investment.

In contrast, outsourcing can eliminate virtually all of these challenges or costs for your practice. Your billing team comes already screened, trained, and ready to handle your office’s billing needs. This cuts your overhead down by a considerable margin, makes your costs more predictable, and allows you to shift the cost out of payroll and into a monthly service expense.

Why AMS Is the Leader in Medical Billing Solutions

AMS Solutions is renowned for delivering highly accurate, efficient, and reliable medical billing and collection services. Our robust technology, coupled with our team’s profound expertise, ensures your practice remains compliant while also increasing your revenue. We also stay up-to-date on all billing regulations and industry best practices, so that you don’t have to and so that your business can steer clear of violations and penalties like fines. 

Partner With The Medical Billing Leader For Your Billing & Collections Needs

So, should you outsource your medical billing? The benefits are clear: increased efficiency, access to expertise, cost savings, and more. AMS Solutions places as high of a value on your practice’s success as much as you do, providing superior service to help you focus on what truly matters, and giving your patients an unbeatable level of care. Reach out to AMS today for a free consultation, and allow us to design a customized solution to enhance your practice’s financial health while you concentrate on the rest of your practice.

July 6, 2023 by AMS Solutions 0 Comments

The healthcare field has never been simple or stationary, but today’s rapidly evolving healthcare landscape is introducing numerous complexities for medical professionals of all types around the world. One of the most crucial aspects of any provider or practice is medical billing and collections, which is a domain that poses a significant challenge for many administrators. If you’re still wondering “What is medical billing outsourcing?” don’t worry, we’re going to get into it. We’ll shed some light on what it is, as well as look at why it’s becoming so popular in recent years. 

What is Medical Billing Outsourcing?

Medical billing outsourcing is the act of delegating your medical billing and collections tasks to an external, third-party agency that specializes in medical billing for various specialties. Agencies like AMS Solutions then take on the responsibility of providing accurate and timely billing, ensuring that your payments are submitted, processed, and received promptly and accurately, and minimizing errors and claim denials. 

Advantages of Medical Billing Outsourcing

Medical billing outsourcing is a strategic move that offers an array of benefits designed to simplify operations and boost your practice’s efficiency and profitability. Each practice will see benefits that are often related to the unique challenges they face, however, there are many advantages that can be seen across practices and specialties. Below are a few of the more significant benefits. 

  1. Focus on Core Healthcare Services: One of the key benefits of outsourcing is that it allows your healthcare team to focus on their core job duties of providing care to your patients. Medical billing is a meticulous and time-consuming task that requires a unique set of skills that aren’t usually commonplace in other roles. By outsourcing this aspect of your practice, your team can dedicate their time and energy towards providing top-tier healthcare services, enhancing patient satisfaction.
  2. Cost-Efficiency: Investing in state-of-the-art billing software and hiring a dedicated team for in-house billing can bring significant financial burdens to your practice. However, by outsourcing your medical billing, these upfront costs are eliminated and you only pay for the services you need, providing excellent value for your money.
  3. Steady Cash Flow: The efficiency and consistency of a dedicated billing agency can ensure a steady cash flow. With an outsourced team working around the clock, there are no delays due to staff shortages, vacations, or unexpected absences. Your billing process continues as long as you’re taking patients, keeping your revenue cycle robust and predictable.
  4. Expertise and Compliance: A specialized agency like AMS Solutions brings years of expertise to the table. We stay updated with the constant changes in healthcare regulations, insurance policies, and medical billing codes. Our knowledge and expertise can help prevent costly errors, ensuring compliance and saving your practice significant amounts of money.
  5. Access to Advanced Technology: Finally, when you outsource your medical billing, you get access to advanced technology without the need to purchase and maintain it. Agencies like AMS Solutions utilize cutting-edge software to ensure accuracy, and efficiency, and to provide detailed reports for your convenience.

Partner With A Medical Billing Leader To Future-Proof Your Practice

AMS Solutions is a leading provider of medical billing outsourcing services that encompass everything from new patient registration, insurance validation, and verification, to claim submission and even follow-ups to aging claims. Our team is expertly trained to handle any billing scenario so that you and your practice always receive payments due in a timely and efficient manner.
If you think you and your practice may be ready to take the next step in optimizing your billing process, AMS Solutions may be the best choice for your business. Reach out today for more information or to discuss how we can help your practice meet its billing needs.

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