Does It Make Sense to Outsource Sleep Study Billing Services?

 

Medical billing for the sleep centers is considered to be a highly specialized process. This specialty requires extreme attention to detail. The sleep studies start with polysomnography and end with CPAP titration. These processes involve insurance requirements and unique coding. Always remember that billing errors can cause claim denials, which will lead to financial instability.  

Healthcare regulations are constantly changing. It is because new diseases are coming every single day. The healthcare staff performs almost all healthcare operations. That's why it becomes difficult for the healthcare staff to stay updated with the changing regulations. So, what is the solution to this problem? The solution is to hire sleep study billing services. These staff know all the intricate details of the coding changes. Apart from that, they also know all the small details of the HIPAA law to protect patient data.  

Advantages of Hiring Sleep Study Billing Services  

The outsourced experts can also help with prior authorization. Apart from that, they are highly cost-effective compared to the in-house staff. Like that, they help with increasing the clinic's cash flow. So, let's dive in details how these sleep study companies help the clinics:  

Managing Coding Complexities 

Healthcare is continuously changing day by day. But the issue is that the healthcare staff don't stay updated with the changing regulations. It's because they have to take care of all the tasks, starting from administrative work to patient care. So, they don't get enough time to get updated with the healthcare regulations. Hence, the solution is outsourcing to sleep study billing services. These experts know all the complex nuances of coding to make sure no claim denial occurs. Moreover, they stay updated with the changing ICD, HCPCS, and CPT codes. It helps them to streamline the claim submission process.  

Taking Care of the Prior Authorization Process  

Prior authorization takes a lot of time to perform. It is because you first need to verify patient eligibility, collect important documents, and then streamline the PA process to make sure no claim denial occurs. But it is not possible for the healthcare staff to perform this. It is because they have other important tasks to do. Hence, the outsourced companies come with trained experts. These experts carefully follow each step to make sure no claim denial occurs. Apart from that, they also know the electronic prior authorization process to streamline the electronic claim submission process.  

Cost-effectiveness  

The in-house teams come with a high cost. It is because you have to train them and also buy expensive office space for them. Hence, it will incur a lot of cost. On the other hand, the outsourced sleep study billing services are highly cost-effective. It is because you don't have to train them. Also, you don't need to buy another separate office space as the outsourced companies take care of this. That will save a lot of money for them. Hence, this saved money they can invest in patient care. So, cost-effectiveness is one of the main reasons to hire the outsourced experts.  

Using the Latest Technology  

Technology has a huge role in the claim submission process. But the issue is that the in-house staff don't have the time to learn about new technologies. It's because these experts don't have time to learn about these skills. Here, you need the help of sleep study billing services. Their experts know how to work with the clinic's specific EHR system. Apart from that, they also know how to use state-of-the-art claim processing, denial management software, and customized reporting. Moreover, their transparent pricing is also one of the main reasons to hire them.  

How to Choose the Right Company? 

You have understood the reasons for hiring sleep study companies. But as there are so many companies out there, how can you choose the right partner? You need to check out the companies that can reduce your operational costs by 80%. Apart from that, these companies also have 99.9% accuracy in coding, charge entry, denial management, and claim scrubbing. Moreover, these companies have up to a 97% first pass rate. They also provide complimentary account managers at zero cost. Furthermore, these outsourced experts provide complimentary account managers at no extra cost. They also provide a custom reporting protocol according to the client's requirements.   

Check also if these companies provide outstanding client references and full HIPAA compliance. These companies also don't have any binding contracts. Hence, you can have an exit anytime. They provide top-of-the-line infrastructure setup. Along with that, they provide custom reporting and real-time audits. These companies have less than 48 hours turnaround time and also low service fees. Furthermore, these outsourced services also help with other specialties such as DME, orthotics and prosthetics, urgent care, gastroenterology, cardiology, infusion, and many more specialties. So, if you want to streamline your billing process, you may consider outsourcing sleep study billing services for that matter. 

How Virtual Medical Assistant Services Transform Healthcare

 

Virtual assistants can make a huge difference in the efficiency and profitability of how you run your practice. It has been observed that the healthcare staff perform almost all healthcare operations. Moreover, the healthcare regulations are constantly changing. That’s why the staff also don’t get enough time to stay updated with the existing regulations. So, what can you do to make sure the assistants work well? That's where you need the help of virtual medical assistant services to take care of these administrative tasks. But how do they transform the healthcare industry? Let’s get into the answer then. 

Why Choose Virtual Medical Assistant Services 

The virtual assistants perform almost all the administrative tasks. These include recording patient data, interacting with the patients, and many more. But that's why they can come with a higher cost, right? No, the virtual assistants also come with a lower cost. Now, let’s understand how they transform the healthcare industry: 

Cost-Effective Staff 

The in-house healthcare team comes with a much higher cost. It’s because you need to train them and also buy a separate office space for them. On the other hand, the outsourced virtual medical assistant services come with a much cheaper cost. It is because you don’t need to train them as they are already trained. Moreover, you also don’t need to buy separate office space for them, as the outsourced companies give them the required office space. That is one of the main reasons you should hire an outsourced medical assistant. 

Streamlining the Administrative Process 

Have you ever wondered why administrative tasks take a lot of time? It’s because you need to do patient appointment scheduling, taking thorough patient notes, insurance verification and many more. But the healthcare staff performs almost all the administrative tasks along with patient care. That’s why it becomes difficult for them to manage all these administrative tasks. That’s where the outsourced virtual assistants come into the picture. These assistants take care of all patient appointment reminders and scheduling, record management, data entry and much more.  

Available at Your Time Zone 

Healthcare staff strictly operate on 9 to 5 schedule. Beyond that, they won’t be able to work. You need to provide them with an incentive, which can hurt the clinic’s cash flow. So, how can you provide the service to the patients when they need it the most? That’s where you need outsourced virtual assistants. They can work within your time zone so that your patients don’t have to wait. That’s one of the reasons to hire virtual assistants. 

They Know How to Work With the Client’s EHR System 

Every clinic has a different EHR system in which they store data. Now, if the healthcare staff focus on putting patient data inside the client’s EHR system, then they may not get the time to improve patient care. That’s why the clinics hire virtual medical assistant services that know how to work with the client’s EHR system. Moreover, these outsourced RCM experts know how to follow the HIPAA law thoroughly to protect patient data. 

How Can You Choose the Best Medical Virtual Assistant  

Before hiring any virtual assistant, check if the companies help with managing medical records, data entry, medication refills, chart preparation, remote patient monitoring, telehealth coordination, and many more. Apart from that, these assistants also help with appointment management, patient report preparation, billing support, and many more. These assistants also help with bilingual voice support. Moreover, these assistants also help reduce your operational costs by 80%. These outsourced RCM companies provide dedicated account managers at no cost. They also don’t have any restrictive clauses or binding contracts. These RCM companies also help with zero-lag assistance across all the US time zones. So, if you want to streamline your billing process, you may consider hiring a virtual medical assistant services company  for this matter.