Top Four Medical Billing Services in the US

Medical billing services head towards improvement with each passing day. The frequent use of new tools and modern tactics is mandatory for survival in the competitive healthcare industry.

It is apparent that it becomes difficult for medical practices, whether it is one physician or a group of doctors, to function without the support of a billing company. Thus, outsourcing medical billing services in the US is a viable option for healthcare providers and achieve optimized revenue cycles. They can save lives at ease when their finances are in steady hands.

It is a fact that such enterprises are crucial for healthcare professionals to receive proper reimbursements from Medicare and other insurance companies.

Quality Payment Program 2018 is another step into the value-based payment models. Through QPP 2018, the ‘cost’ category determines the spending on each Medicare beneficiary. The eligible professionals will collect incentives based on the quality of services and by keeping the cost of care to a minimum. It is going to earn them positive payment adjustments and bonuses in 2020.

The US healthcare industry has come a long way under the Trump administration. Many qualified physicians have made their names in this industry, and so have the services performing medical billing for them. After all, the acceptance of claims depends on the skills of medical billers and coders.

The HIT teams facilitate the physicians with a variety of services such as:

• Medical billing software to manage everyday billing tasks
• Electronic health record (EHR) management
• Credentialing services to confirm the legitimacy of clinicians individually or working in a hospital
• Medical billing audits

Given below is a list of four top-rated medical billing and coding firms. By comparing their expertise and working areas, healthcare providers are able to decide which billing service provider is the most appropriate for them.

DrChrono

It is beneficial, in particular, to the small healthcare practices whose reach is not yet at an elaborate level. The cost-effective billing solutions for medicine help the professionals undergo data management in the form of electronic health records (EHRs) and reporting MIPS 2018 Quality measures to the CMS. The billing company supplies software for practice management systems (PMS) as well.

The budding healthcare units can make use of DrChrono and excel. It benefits them with the in-house medical billing services and keeps them within their pocket’s reach. The fee ranges from 4-6% of the total monthly collections of the provider. The pricing allows this company to have up to 6% of the practice’s average clients without any extra fees for the clearinghouse.

P3 Healthcare Solutions

P3care is popular for its effective revenue cycle management. The medical billing company provides efficient billing solutions to physicians and other clinicians. In addition, the tech-savvy experts automate the billing system by the use of predictive data analytics and data management activities. That makes the complex billing tasks more manageable.
There is a special team of individuals at P3Care dedicated to credentialing services to the physicians, non-physicians, clinical lab experts, behavioral providers, urgent care facilities, and ambulatory professionals. The billing company diversifies with top-notch credentialing and enrollment services.

CMS recognizes P3 Healthcare Solutions as a MIPS Qualified Registry in 2018 as well.
One of the core departments of P3Care does medical billing and coding audits for doctors. It helps the physicians find loopholes in their revenue system and improves their overall RCM process. Practices are able to decrease their accounts receivables within no time and stay on top of their claims.

P3Care takes your medical practice to the next level by showing compliance with the ICD-10 medical billing and coding standards. The denial and appeal management speaks of their credibility and as a client; you can stay in touch with your accounts manager for immediate reports. It is the best bet for all the healthcare organizations whether small or big.
Follow them on LinkedIn here - https://www.linkedin.com/company/p3-healthcare-solutions

AdvancedMD

This billing company is relatively on the expensive side, but it’s worth the cost. They allow providers to use integrated electronic medical record (EMR) systems and billing practice management systems. Moreover, they know authentic ways to guarantee high first-time claim acceptance rate.

The efficient denial management and follow-up system easily get timely reimbursements for physicians. Another feature in use is Optum that ensures the flagging of errors at the clearinghouse stage to rectify them before submitting to the insurance companies.

Human Medical Billing

This medical billing service company is small but proves to dominate any billing prerequisites. The expertise caters to the billing process and goes up to the credentialing services. Additionally, they provide personalized healthcare billing solutions.
Their epic move is that they don’t charge clearinghouse fees. The monthly rate is a minimum $500 or 6% of the total monthly collections. They are quite flexible for healthcare providers and a reasonable choice for improving the performance.

Final Thoughts

Every healthcare professional has different requirements. Thus, learning about what medical billing services work for them, in particular, is important. A frank discussion between the company and the clinician should do it. It must happen to set the stage for meaningful communication.
It can bring a lot of difference in the medical claim creation process and help the physicians get faster reimbursements. Choose wisely, because your future depends on it.