| For today's practicing physician, there is so much to | | | | Naturally, as the expectations and standards for |
| do. Instituting, upgrading and perfecting electronic | | | | proper coding and billing procedures become more |
| billing processes. Keeping abreast of all the new | | | | stringent, medical billing and coding companies are |
| medical coding requirements. Billing and collecting | | | | rapidly becoming a vital segment of the national |
| enough to stay profitable, but not so much as to | | | | health care industry. So much so, that traditional |
| incur an audit by the federal government. Finding | | | | medical staffing firms have taken note, as they have |
| ways to stay compliant with the new HIPAA privacy | | | | expanded their suite of services to include physician |
| and security standards without completely disrupting | | | | coding and billing. Furthermore, publicly traded |
| your office and re-designing most of your processes. | | | | companies are quickly consolidating the medical billing |
| Not to mention completing paperwork on each | | | | and coding segment through the acquisition of smaller |
| patient that is now estimated to take an average of | | | | players. |
| 30 minutes per patient. | | | | Most medical billing systems are user friendly with |
| These factors, especially federal and state | | | | many customizable tools. Modern systems also |
| regulations, have greatly increased the need for | | | | provide analysis reports on procedures performed, |
| experienced and certified coding and billing | | | | payments received, and accounts adjusted for any |
| professionals. Private practices, clinics, emergency | | | | period. They can include additional medical |
| department physician groups, and hospitals simply | | | | functionalities in bills such as trip reporting for |
| cannot afford coding mistakes, yet most do not | | | | ambulance companies, transaction details for |
| have the time or staff to properly and accurately bill | | | | anesthesia billing etc. Electronic claim submission aids |
| those patients, in turn creating a demand for | | | | automated cash flow. Online systems help to |
| outsourced medical billing companies. | | | | streamline the activities from any Internet source. |