Have you faced a situation where you incurred a loss due to either lack of knowledge about medical billing services or neglecting the billing facts! Well! It’s not a very shocking piece of news to hear someone losing his bet while claiming the reimbursement from the insurance company. Different factors ranging from the wrong billing to fraudulent medical billing services contribute to this and sometime the negligence also. So, as a medical professional either get prepared to learn about medical billing services and service providers or to incur losses. Generally more than 90% people who incur losses on medical bills belong to the first category. They do not have the proper knowledge about billing and service providers. While we talk about lack of knowledge in billing, it denotes the situations like absence of billing, wrong billing and/or slow billing.
In medical practice if you do not have the bills you cannot claim reimbursement from the insurance company. And a situation of inability to claim only can lead you to incur losses. Apart from financial losses, this kind of situation can also lead to the loss of reputation as well as client base. I hope you understand it much better that loss in client base means lose in profit making and ultimately you might be out of the business. So, medical billing is a must thing for reimbursement claims or to eliminate your losses.
The next big factor in medical billing services is the wrong billing. In medical practices wrong billings most often are caused by inexperienced staffs sitting at the billing desk. With wrong billing the insurance company would never reimburse. Insurance company would decline your claim. So, wrong billing leads to losses.
Fourth factor adding to the cause list of losses is slow billing. Slow billing equals late submissions of claims, and a delayed claim means delay in processing and delay in reimbursement. A delay in reimbursement though is not a direct financial loss yet it lowers your reputation and profit making. The reason behind slow billing is often same as in case of wrong billing. It is the staff you have for billing purpose. If they do not have proper knowledge about the medical billing services, the ultimate loser would be you.
There is one more reason I would like to mention, it is the presence of fraudulent online medical billing services and service providers. If you are thinking about an online medical billing service in place then my simple suggestion here for you is to make a good logical search for the service provider and the software. Judge the service provider with logical interactive questioning. Selecting a billing service provider just by its ads may cause losses which might turn to be higher even than a wrong billing practice.
The prevention you should take is to employ experienced and certified professionals for this job of billing. A certification from AMBA can meet this standard. AMBA stands for American Medical Billing Association, located in South Central Oklahoma and is the largest association in the country providing education and certifications to individual independent medical billers and to professionals from ancillary medical billing services. AMBA was established in the year 1998 by two experienced billing professionals. Medical billers working either from their homes or offices can avail the services of AMBA very easily. AMBA is currently associated with all the aspects of medical billing services except billing software products.
