According to the American Sleep Apnea Association, around 22 million people suffer from sleep apnea. The requirement for sleep studies is growing in the US. But do you know that most of the healthcare providers struggle with creating an accurate billing process? It is because the healthcare staff takes care of almost all the processes, starting from administrative tasks to patient care. So, what can be done to prevent these issues? That’s where the sleep study billing services come into the picture. So, let’s dive into how these experts make sure no claim denial occurs:
4 Reasons to Outsource Sleep Study Billing Services
There are several reasons to outsource sleep studies, and four of them are highly crucial. These companies provide dedicated experts who stay updated with all the latest healthcare regulations. In addition to that, these companies also know how to streamline the prior authorization process to streamline the claim submission process. These four reasons are described below:
Usage of Technology
Technology plays a major part in quickening the reimbursement process. Now, do you know what the issue is? The healthcare staff know how to use the right technology, but they are not specialists. On the other hand, the sleep study billing services know how to use the client’s specific EHR system to protect data. They also know how to submit claims electronically using electronic prior authorization.
Streamlining the PA Process
Prior authorization is a very complex and time-consuming process. It is because first, you have to verify patient eligibility, then collect important patient documents, and finally, submit a prior authorization request to make sure no claim denial occurs. If the healthcare staff focus on solving these issues, then they may not get the time to help with patient care. Here, you can outsource a sleep study expert who knows all the ins and outs of this process to reduce claim denials.
Staying Updated with the Latest Regulations
Healthcare regulations are in constant change. It is because new diseases are coming. But as the healthcare staff performs almost all the healthcare operations, they can’t find time to stay updated with the latest regulations. So, one of the ways to cope with this problem is to outsource sleep study billing services. These experts stay current with all the latest CPT, ICD, and HCPCS codes to make sure no coding error occurs. Besides, they also know all the complex nuances of the HIPAA law to protect patient data.
Cost-effectiveness
The in-house staff comes with a high cost because you need to train them and also buy expensive office space for them, which becomes a very costly affair. On the contrary, the outsourced team has been already trained with the necessary details, and the outsourced companies provide them with the required office space. That is one of the main reasons to hire an outsourced expert.
How Can You Hire the Right Expert?
As there are so many RCM companies out there, how can you choose the right company for your clinic? So, before hiring any sleep study billing services, check if they can reduce your operational costs by 80%. They can have 99.9% accuracy in charge entry, different codes, claim scrubbing, and denial management. In addition to that, these companies also have a 97% first-pass rate of submitted claims. They provide dedicated account managers at no extra cost, and they provide custom reports according to the client’s protocols.
Moreover, they also have a 10% buffer resource and provide 100% HIPAA-HITECH compliance. They 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, it can be a feasible option to outsource to sleep study billing experts who can take care of this process.
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