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Business Process Outsourcing: What and Why?

Business Process Outsourcing is a method of sub contracting some parts of the operations to a third party. BPO was originally associated with manufacturing sector but later it was totally embedded as Information Technology Enabled Services. Outsourcing helps companies to stay focused on important business areas. It also helps them to use their management resources effectively. In the present situation companies face many challenges like tough economy, lack of skilled resources, lack of time to pay more attention to marketing and customer services. It has become necessary for companies to have a flexible pricing, process and technology to be successful. To sustain profitability and to access talented resources many companies go multinational to stay ahead of their competition. (more…)

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Eligibility Verification is a significant denial management tool

Providers lose thousands of dollars every year when services provided by them are denied as non-covered services by the patients’ medical insurance company. Usually, the providers know about these denials anywhere between 15-30 days after the services were provided. As a result, they end up billing the patient after 30 + days and need to spend more time, money and resources to collect the dues. If they are not successful in getting the money from the patient, it will usually be moved to a collection agency. This non-productive billing process can be elevated by adopting insurance eligibility verification.

It is standard for individuals or employers to change their insurance plans for various reasons. These frequent changes make it essential for the providers to have updated information on patient insurance coverage. Hence eligibility verification process has become a crucial step in quicker reimbursement. It reduces and, in many cases, eliminates denials. Eligibility verification helps to increase provider revenues and weeds out uncollectible. (more…)

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Medical Billing Outsourcing – A Boon to Healthcare Industry

In these changing times, providers are faced with many challenges including reduced reimbursements, changing government laws, strict patient health information rules and more. Providers are faced with the task of providing excellent patient care and also need to ensure they are paid accurately on all the services they have provided. Providers usually hire a dedicated in house biller or billers to their practice or outsource their medical billing requirements to a professional medical coding and billing company. (more…)

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