Disclaimer:
This news is brought to you by our author who has analyzed the current trends and experiences of multiple physicians. So she formed this news according to their opinions. Hence, this study is not specific to the pandemic at all because this information is much related to the office management of the medical office.
Introduction
Has anyone thought about the kind of pressure practitioners are dealing with during the COVID-19 pandemic? Well, the simple answer is that they are under massive scrutiny. The COVID-19 pandemic has not only brought new challenges to the healthcare industry but also given fuel to the unsolved challenges in previous years. This global crisis has brought massive pressure on the practitioners, especially physicians.
In a practitioner’s workplace, it has brought a lot of pressure on the front-end and the back-end healthcare departments as both of their workloads have had a negative impact because of this crisis. Practitioners have also had a negative impact financially due to the changing regulations of physician billing services. They have the hardest job in coinciding their financial policies with the changing regulations of physician billing services. In this article, I have highlighted 7 ways in which the practitioners are unable to maintain successful billing services in this pandemic.
1. Massive administrative workload:
Practitioners have always had issues regarding the management of patients as well as physician billing services. They are not having issues regarding physician billing for the first time. They have to manage the administrative responsibilities regardless of their association with public or private practices. However, the COVID-19 pandemic has changed the entire landscape. The employees working in the in-house department of billing services are finding it difficult to collaborate with the physicians. Inappropriate training may result in catastrophic results. It may have a negative impact on physicians while prioritizing patient care.
2. Massive denial rates
According to the recent statistics, claim denials are the biggest reason for revenue loss in 2020. Practitioners are finding it very difficult in reviewing the denial issues as well as the regulations prior to the claim submission. Without an appropriate management team, the practitioners are facing difficulties such as poor reimbursements and untimely payments.
3. Maintain competitiveness
The healthcare industry as a market is facing increased competition than ever before. The practitioner has numerous options available for the utilization of healthcare services. This makes it difficult for him to meet the requirements of patients. This competitiveness has caused physicians to acquire innovative billing solutions for billing services. This allows them to be aware of all the recent advancements regarding healthcare providers.
4. Maintenance of EHR:
Inappropriate EHR (Electronic Health Record) brings difficulties to the practitioners. Additionally, it brings risks to patients. It creates a communication barrier between the practitioner and the patient which creates misunderstandings between them. The primary objective of EHR is to ensure the streamlining of procedures. However, if the EHR is possessing a poor interface, it may make the practitioner’s system inefficient. As a result, he must visualize the correct organization that ticks all the boxes for the billing services.
5. Agreements
Agreements are one of the most important features of physician billing services. Numerous practitioners working in an in-house billing department find it difficult in making agreements with payers due to ineffective tools. As a result, they must opt for effective billing services recommended by specialists to ensure the sustainability of financial accounts.
6. Appointments
Numerous practitioners have handed the responsibility of their in-house billing departments to the unqualified medical billers. They give training to the employees in their own way. However, the massive workload has made it difficult for the practitioners to train their staff appropriately about the recent changes in medical billing and coding regulations. This is where an outstanding medical billing organization can come in handy as it will have considerable resources to pursue effective billing services.
7. Security of patient data
HIPAA has a massive responsibility regarding the security of patient data. The physicians must acquire innovative billing solutions for the protection of billing services. It may ensure that all the data is secured from cyber security. If the practitioner decides to deliver the patient data to outsource the medical billing company, he must know that organization is HIPAA compliant. Physicians must be aware of every step they take regarding the protection of patient data.
Conclusion
The practitioners are trying their best to fulfill the demands of the healthcare industry. One way of doing that is to acquire effective physician billing services. This improves all aspects of revenue cycle management such as patient eligibility, coding review, claim management, etc. Our professional medical billing agency provides innovative physician billing solutions that ensure comfortable interaction of practitioners with patients. Additionally, it gives a quick visualization of encounters during the medical procedures. For more details subscribe our newsletter!
Related Tag: Benefits Of Outsourcing Medical Billing Services During COVID-19 Outbreak