Our Services
Medical Billing and Coding Services
Optimize Your Revenue with Our Expert Medical Billing & Coding Services! Medical billing and coding are fundamental in the administration of healthcare finance. At Practice Claim, we specifically deal with medical billing and coding services to assist healthcare facilities with high revenues, low mistakes, and patients. Let our team of certified billing experts handle all aspects of billing and decrease stress for better financial results.
Billing & Coding Services We Offer
You will find the best solutions at Practice Claim, that fulfill the needs of unique healthcare facilities, starting from the clinic to a hospital. Our team specializes in the following areas:
Medical Billing Services
Insurance Claims Submission
We deal with insurance claims, their codes, and regulations to ensure the compensation for the service provided is enhanced.
Patient Billing and Invoicing
Our team prepares clearly calculated invoices for the patients so they would not spend much time disputing charges with the team.
Denial Management and Appeals
We deal with the cases of claims rejection, correct errors and handle complaints with the aim of regaining lost revenues.
Accounts Receivable Management
We are responsible for overseeing your accounts receivable, identifying which accounts are outstanding, and following up with the clients regarding their debts.
Revenue Cycle Management
We actively manage the flow of cash and finances from the time a patient registers until the final payment is received, including all financial transactions throughout that process.
Medical Coding Services
ICD-10 Coding
The ICD-10 codes we utilize are the most up-to-date available, ensuring that all necessary procedures and diagnoses for reimbursement are accurately documented.
CPT and HCPCS Coding
Our team includes coders proficient in current procedural terminology (CPT) and healthcare common procedure coding system (HCPCS), ensuring the correct coding for medical services provided.
Specialty Coding
This is complemented by specialty services such as cardiology, oncology, pediatrics, and more, ensuring that your specialty practice is prominently represented.
Chart Auditing and Compliance
We conduct chart audits to identify incorrect coding, recover additional revenue to be recorded in our system, or ensure compliance with healthcare regulations.
Credentialing services
It is also referred to as professional and administrative staff services, providing individuals with the essential documentation to become members of various educational institutions or health organizations, as offered by this service.
Our Medical Billing & Coding Procedure
Our streamlined process ensures that every aspect of medical billing and coding is handled with precision and efficiency:
Step 1: Information Collection of Patient
We collect detailed patient records to ensure that no furthest data demographics, insurance details, or medical history data are influencing billing discrepancies.
Step 2: Medical Coding
Our qualified coders will convene once again to conduct a medical record review and clinical documentation to correct the code from ICD-10, CPT, and HCPCS. It also ensures that the claims that are filed are in the right category, to get the maximum number of claims back.
Step 3: Preparing & Submitting Claim
When coding is completed, our staff formulate detailed claim descriptions, review the documentation for compliance with any payer guidelines, and submit the claims to the insurer.
Step 4: Follow-Up on Insurance Claims
Basically, all submitted claims are monitored and communicated often with insurance providers to avoid any issues.
Step 5: Denial Management and Re-submission
When a claim has been denied, we undertake actions like investigating why the earlier claim was denied, correcting the mistakes that led to the denial, and re-submitting the claim.
Step 6: Collection Management
Accounts receivable consist of all the outstanding claims which are in general recorded, along with the collection of due amounts and maintenance of records in every organization.
Step 7: Strategic Evaluations
It offers you extensive reports presenting you with all the information you need on your finances, claims, and reimbursement rates for appropriate decision-making.
Benefits of Medical Billing & Coding
Choosing a Practice Claim for your medical billing and coding needs offers a multitude of advantages.
1. Maximized Revenue
- Implementing such approaches enables us to bill and code for the services in an effort to reduce claim error and denial rates thereby increasing approval rates.
- The controls and collection tools improve the overall revenue cycle in order to allow you to increase your overall revenues by up to 10%.
2. Reduced Administrative Costs
- We are one of the pioneers in outsourcing billing and coding services, can reduce your overhead cost by up to 40% and you can focus on your core business.
- No penny to pay for licenses, consumables, training, or even new employees for this - we handle it all.
3. Data Security
- We diligently maintain HIPAA principles to ensure that patient information is appropriately and privately managed.
- Only encrypted and protected servers are used at our company and all legal requirements are strictly followed.
4. Faster Reimbursements
- We reduce the billing cycle by ensuring accuracy and timely processing to optimize payment cycles and cash flows.
- The follow-ups on unpaid claims help you receive the full amount that is reimbursable without any delay or being locked from the money.
5. More Focus on Patient Care
- Outsourcing patient accounts’ billing and coding helps free your employees to offer dedicated care to patients.
- Therefore, an efficient billing process reduces considerable time spent on documentation and increased time spent on patients.
6. Transparency & real-time reports
- We provide full claims status and complete revenue reports so your company’s condition is clear at all times.
- With the help of our brief and essential reports, you will be in a position to track progress and the nature of trends as well as make appropriate strategic decisions.
Why Choose Practice Claim for Medical Billing & Coding
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Experienced Professionals
We are a team of certified medical billers and coders with years of experience in various specialties. We face many challenges and remain compliant with current requirements.
Cutting-Edge Technology
We use advanced billing software and coding tools to increase effectiveness and avoid difficulties. Thus, we have the best strategies to enhance our billing services.
Tailored Solutions
We are aware that each healthcare practice is different in some aspects. Therefore, we offer services tailored to your needs, ensuring they align with your financial goals.
Reliable Support
Contact our support team, which works round the clock to guarantee your needs are met whenever you feel the need to ask us anything or to report any kind of problem.
Frequently Asked Questions
Practice Claim is well-known for being individual on every client, compliant with pricing and sand reporting, and focused on getting you the most money. We strive to achieve high results in the financial field and at the same time, make everything reasonable and legal.
In our company, our certified coders and billing specialists effectively understand the existing laws in healthcare and HIPAA, ICD-10 as well as CPT. To this effect, we pay attention to our clients and regulatory awareness and conduct compliance checkups regularly.
Of course, Practice Claim provides billing and coding services that are relevant to almost all specialties, and cardiology, dermatology, pediatrics, and others. The staff of our team has all the necessary experience to complete different coding obligations.
