EL Medical Billing Solutions Podcast

By RCM_Specialist

We share medical billing best practices, offer solutions to common issues, and we help the community through their many medical billing questions.... more

5

33 ratings

Download on the App Store

Download on the App Store

Get it on Google Play

FAQs about EL Medical Billing Solutions Podcast:

How many episodes does EL Medical Billing Solutions Podcast have?

The podcast currently has 26 episodes available.

EL Medical Billing Solutions Podcast episodes:

June 21, 2023 The Ultimate Guide to Choosing a Claim Submission Company Near Me
Are you looking for a local claims submission company that you can trust? Click here for the ultimate guide to choosing a claim submission company near you.
29 percent of medical claims are denied with $0 paid. More than 50% of these claims are never reworked and reworking a denied claim costs your practice.
Outsourcing medical claims submission can help reduce the incidence of rejected claims and save you money. But how do you choose the right company?
Keep reading for our ultimate guide to choosing a claim submission company you can trust.
Get On the Same Page About Communication
One of the biggest concerns practices have about outsourcing medical claims to a claims submission company is that they won't have good communication.
Outsourcing claims submission makes it more challenging to communicate and ask questions, especially when you need a quick response. When you're choosing a claim submission company, be sure to ask what you can expect as far as communication goes.
Ask how quickly they respond to calls, emails, questions, and requests. If you need an answer right away, will they be there?
The right claim submission company will make sure you know you can trust them with submitting a claim and communicating with you about any issues.
Look for Relevant Experience
If you have a specialty practice, you want to make sure the claims submission company you use has experience with that specialty. Some medical claims companies can handle multiple specialties and some focus on just a single area of practice.
It's up to you to decide whether you want to go with a company that handles multiple fields or just one, but whoever you choose should have experience in your specialty area.
Ask About Rejected Claims
Rejected claims are a huge problem for healthcare practices and it's reasonable to be skeptical about handing that responsibility over to someone else.
Rejected claims can cause significant revenue loss and many medical billers fail to edit and resubmit claims that have been rejected. When you're considering a claim submission company, you need to ask them how they handle rejected claims.
What is their process for resubmitting rejected claims? You should be able to trust your medical claims submission company to do everything they can to get you the money you deserve.
You can even ask them about their rejection rate. A low rate of rejected claims is a good sign that they are coding and billing correctly.
Research Reviews
When you purchase any product or service, you should do some research to make sure you're making the right choice. When it comes to medical claim submission companies, you can learn a lot by looking online for reviews.
Search for reviews from current and former clients to learn more about a company's reputation. You can even ask them directly for references and testimonials from happy clients.
Do You Need Help With Claim Submission?
If your practice is looking to outsource claim submission, you've come to the right place.
When you outsource medical claims, you free up resources so you can focus on providing a better patient experience. You'll also reduce the risk of billing and coding errors and rejected claims.
EL Medical Billing Solutions is just a phone call away. Click here to contact us today for a consultation to learn more about what we can do for your practice.
...more
3min
June 21, 2023 5 Ways to Make Your Healthcare Practice More Efficient
Are you wondering how you can change your ways to make your practice run better? Check out these five ways to make your healthcare practice more efficient.
A report in 2019 found that 44% of physicians had symptoms of burnout, and much of this was due to an inefficient workflow.
To avoid this and make your healthcare practice efficient long-term, you need to focus on updating your technology and outsourcing some of your key processes.
Keep reading this guide to learn five ways to make your medical practice operations run more efficiently!
1. Outsource Your Medical Billing and Coding
Remember, your healthcare practice operations rely on efficient and accurate coding and billing of all medical claims. Medical coding can be time-consuming, complex, and expensive when you rely on in-house staff.
Professional medical billing companies are experts and will ensure your claims are accurately submitted and provide countless benefits to your practice, including:
Using certified professionals reduces medical billing errors
It saves you money on maintaining billing software and supplies
Improves your cash flow as there won't be interruptions due to staffing
Improves your patient satisfaction as you'll have fewer billing issues
Using professionals guarantees compliance with current coding regulations
You'll also get detailed records and performance reports. As a result, you'll get an excellent overall picture of how your practice operates and better insights on how to make further improvements.
2. Invest in Secure Messaging Systems
Secure communication systems can take your healthcare clinic to the next level. You can easily modernize services such as:
Online appointment scheduling
Automated appointment reminders
Secure online prescription requests
Your staff won't be overrun with constant phone calls, and thus will be able to focus on other tasks more efficiently. You'll also be able to delegate certain times to address the incoming messages you've gotten during the day.
3. Take Your New Patient Paperwork Process Online
Your next step to efficiency is getting your new patient paperwork online. Having your patients fill out the paperwork when they arrive wastes time and delays your daily appointments.
Even if only half of your patients go online to complete this paperwork, you're still saving time and money since you make your days more efficient overall.
4. Update Your Inventory Practices
Keeping track of inventory needs can be a huge drain on the efficiency of your healthcare office. You likely have inventory in different exam rooms, storage closets, and your office area.
This makes getting an accurate assessment of your inventory on hand not only difficult but a hassle for your employees, too.
Once you switch to inventory management software, you'll get automatic alerts when your stock is low or expiring. It's an easy way to reduce unnecessary spending and boost productivity.
5. Invest In Employee Wellbeing
Your employees make or break your medical practice, and team-building activities like weekly lunches are key to your practice's efficiency.
It's also well worth the investment to give your employees a peaceful place to relax and re-energize during the day. Some quick ways to do this include:
Bring old books and magazines
Have chairs or a sofa for lunchtime power naps
Provide yoga mats for meditation
Consider a diffuser with lavender to promote relaxation
Have dim lighting so employees can rest
Install a coffee station
You can also send out a survey to see what your employees would li
...more
4min
June 21, 2023 How to Hire the Best Revenue Cycle Management Team
Revenue cycle management is a vital part of your office's success. Click here to learn how to hire the best revenue cycle management team for your practice.
Considering that the revenue cycle management (RCM) industry grew to more than USD 126 billion in 2021, it makes sense that RCM teams should be high-quality. But what should you be looking for when hiring the best revenue cycle management team for you and your projects?
There are many revenue cycle management team options to choose from, and some may be better than others, depending on what you're looking for. Keep reading and learn how to choose the best revenue management team for your needs.
Team Structure
Team structure is very important when choosing a revenue management team. Team structure has everything to do with the number of people in a revenue management team and how those members interact with each other. First, you should consider how many members you want your team to have.
Having too few members will render the team inefficient. On the other hand, having too many members could get cumbersome and expensive. Instead, you will want to find a happy medium of 6 to 10 members or so.
However, this number may be slightly larger or smaller depending on the volume of work you need to be done. Once you figure out what kind of team structure you want, it will be much easier to narrow down your team choices. Keep in mind that the individual experience and expertise of each team member are also important.
Some team members may be more skilled in certain fields than others. This variation is important to ensure that your revenue cycle management team can tackle all sorts of problems without being stunted. It will also ensure that your team is well-rounded and able to take on virtually anything you throw its way.
Skills and Communication
Without the right skills, a revenue cycle management team won't be able to accomplish much of anything. Before hiring anyone, you'll want to ensure that a given team has all the skills you're looking for.
Otherwise, you might find that your team isn't measuring up to the expectations you had planned out.
In the same vein, you should make sure that your team is trained in the correct way. As long as the team is trained, the team members shouldn't have any trouble completing their usual tasks. Good training will also make sure that ordinary work flows smoothly and that there is little to no interruption between work tasks.
Finally, you should consider the quality of communication before hiring a team. Communication is important for a variety of reasons. If team members can't communicate with each other, it will be very difficult for the team to complete a task even if they are all individually skilled.
It is also important for the team to communicate with you. That way, you can keep track of the productivity of the team and if the members are working as they're supposed to.
How To Hire a Great Revenue Cycle Management Team
Hiring a revenue cycle management team isn't as hard as you might think, but there are a few factors you need to consider. For example, you should always make sure that the team has the right skills, good communication, and team structure.
To learn more, click here.
...more
3min
June 21, 2023 A Complete Guide to Proper Medical Claim Denials Management
Are you wondering how to properly handle your claim denials? Check out this complete guide to proper medical claim denials management.
Did you know that medical claim denial rates have risen 11% across the US since the pandemic first began? More importantly, most of these claim denials were due to data entry errors and insurance coverage problems.
If you're experiencing issues with medical claim denials, knowing where to begin to fix this process can be overwhelming. You need to take a step back to identify the problems, but you'll need to know what to focus on first.
To learn more, keep reading this guide to see how to effectively deal with medical claim denials so you can get back on track!
Identify the Problem
The first step in claim denial management is identifying the key problems. This is also the best way to prevent them from happening again. It's essential to be aware of the most common reasons for claim denial, which include:
Submitting claims and initial rejections past the insurance company's claim deadline
Submitting claims that aren't covered by the patient's insurance plan
Not getting proper prior authorization before services are completed
Claims that have missing or incorrect patient information
Duplicate claims submitted for the same service
The provider is out of network
The insurance company deems the service not medically necessary
Medical coding mistakes like using the wrong code for a service
Finally, bundled medical codes are one of the biggest issues that can cause medical claim denial. With bundling, certain services must always go together; therefore, they are always billed together.
Claim denials mainly occur when you don't bundle the correct services together or try to bill certain services separately.
Medical Claim Denial Solutions
Next, you'll need to be proactive and act quickly when you receive a claim denial. You'll need to form a denial management plan so you know what to focus on first. You can start this process by taking steps that include:
Create a Task Force
To analyze the denial trends and determine a timeline to deal with claim denials, you'll need to choose key staff members from each department. They'll need to contact insurance companies, talk with staff, and pinpoint claim format issues.
Improve Patient Data Entry Quality
Next, you'll need to focus on the patient data that's entered at the time of registration. It's important to narrow down the source of where the errors are coming from and make plans to improve this process.
You'll need to provide staff training on data entry, insurance verifications, and claim deadlines. You'll also need to conduct frequent performance audits to ensure compliance.
Outsource Your Medical Billing and Coding
One of the best medical claim solutions is outsourcing your billing and coding, which puts your entire denial management plan into place in one step.
You won't have to worry about re-training staff, hiring new billing or coding staff, or dealing with claim denials.
You'll also save money long-term as professional billing, and coding companies offer you expert billing and coding services at a reasonable cost. Along with claim denial management, these companies also take care of a variety of processes, such as:
Insurance verification and preauthorization
Medical coding with accurate diagnostic and treatment codes
Enter charges for services performed for all your patients
Submit all your medical claims
Insurance payment
...more
4min
June 21, 2023 A Complete Guide to EL Medical Billing Solutions Near Me
"EL medical billing solutions near me" can pull up many options, but which ones are best? Read here for a guide to finding quality EL medical billing solutions.
Medical billing is a $4.6 billion industry in the United States. But you do not have to understand its financial implications to understand its importance.
Medical billing has high stakes for practitioners and patients alike. Faulty billing could open clinics up to claims of fraud or keep patients from getting the services they need. For this reason, hospitals are always looking for ways to get an edge in this complex enterprise.
The good news is that companies like EL Medical Billing Solutions are here to help. Keep reading to learn more about their medical billing processes and software that can help your practice function better.
Medical Coding Basics
The healthcare world has its own vocabulary and structure around how things must be done. Providers use a system of codes to detail every service provided to a patient. These include office visits, medications, and medical procedures.
Front-end medical billing involves providers running a claim through a patient’s insurance. Then they inform the patient of what out-of-pocket costs they are responsible for.
Backend billing is more complex. It involves compiling lists of all services that were provided, even those that were not known or anticipated at the start of the visit. These are then put into a superbill and sent to the patient.
Backend billing is very meticulous and time-consuming. It entails ensuring that the codes and associated services are accurate and complete.
Navigating the Complexities of Medical Billing
Private and third-party payers, as well as government services like Medicare and Medicaid, all use different claim forms. That is due to distinct requirements for each service as well as different reimbursement structures.
If filing is done incorrectly, it will result in denied claims. Or worse: they could open providers up to fraud investigations and liability lawsuits.
A medical billing system must stay current, as billing details are frequently updated. Staying on top of such changes can mean the difference in patients getting the healthcare service they need.
EL Medical Billing Solutions offers state-of-the-art medical billing software. They also use experienced and knowledgeable personnel. They can help you get up to speed quickly without sacrificing accuracy.
Electronic Medical Billing
Especially since the COVID pandemic, more payers have shifted to electronic claims filing, and for good reasons. For one, it has helped streamline and speed up medical billing procedures.
This comes with its own set of challenges, though. For instance, due to HIPAA regulations, Medicare requires that you submit Part A and B claims using specific transmission formats.
EL Medical Billing Solutions understands and has intimate knowledge of all filing requirements. They can help you leverage the speed of electronic filing without worrying about accuracy.
Even if time is not an issue for your staff, EL Medical Billing Solutions can act as a clearinghouse for claims. They will ensure that electronic information is accurate and complete, and can catch errors that would otherwise go overlooked.
Customer Service
Finally, EL Medical Billing Solutions can engage with patients about billing so that you do not have to.
...more
4min
June 21, 2023 The Ultimate Guide to Medical Billing and Coding Contractors Near Me
Search results for "medical billing and coding contractors near me" can be stressful. Read here for a guide to finding medical billing and coding contractors.
Medical billing and coding errors cost providers and patients over $25 billion each year, according to CMS. As a healthcare provider, you can't afford these kinds of mistakes.
Are you searching for "medical billing and coding contractors near me"? Then, it's critical to outsource to competent, compliant services only.
But, how can you tell which medical billing contractors are best? Learn what sets high-caliber coding contractors apart from the rest. Then, discover how to get affordable, effective medical billing help.
Hiring Medical Billing and Coding Contractors Near Me: Overview
Medical coding transcribes diagnoses, treatments, and medical procedures into standardized, alphanumeric codes. The most common medical code classification systems are:
The International Classification of Diseases (ICD)
The Healthcare Common Procedural Coding System (HCPCS)
The Current Procedural Terminology (CPT)
When hiring a medical coder, that coder must be versed in the system your practice uses.
Medical billing professionals submit claims for medical services rendered to insurance companies. As you consider contracting with a service near you, keep four things in mind.
Account Parameters
Before contracting, determine the parameters of your practice's account. How many employees work at your practice? Is it a specialist practice? Which insurers do you take?
Then, consider your organization's budget. What costs are you currently incurring over disorganized billing and coding practices?
You'll want a service that saves you money in the long run. Ideally, a service will have experience with medical practices with the same specialization as yours.
Credentials and Referrals
Ask peer practices to refer you to the billing and coding services they use.
And, look at client testimonials for any of the companies that come up in your search. Don't hesitate to reach out to the current or former clients of a given service to learn how they work in practice.
A contractor's customer service reputation is also critical. Learn about different services' approaches to communication in your research.
As you do this research, make sure to check the professional credentials of all billing and coding teams. The American Academy of Professional Coders (AAPC) certified professional medical billers.
The American Medical Billing Association (AMBA) validates professionals who pass its exam. That's the Certified Medical Reimbursement Specialist (CMRS) certification exam.
Legal and Professional Standard Compliance
Medical billing and coding services also need to meet compliance standards. Check to ensure your local coding contractors have effective means to secure patient health information on their servers.
This is critical to comply with HIPAA—and all other patient privacy laws in your state.
Median Claim Denial Rate
Ask prospective medical billing contractors how often insurers deny their claims. A high claim denial rate can indicate a high rate of errors.
Then, investigate how each service approaches claim denials. How do they ensure they get the revised claim to the insurer within the window?
Automation and High-Tech Solutions
Look for billing and coding services that bring in high-tech solutions.
Tools like robotic process automation software can streamline coding.
...more
4min
June 21, 2023 5 Advantages of a Medical Billing and Coding Software Consultation
Are you wondering if a software consultation is worth it? Listen here for five advantages of getting a medical billing and coding software consultation.
Medical billing and coding errors happen more often than you might think. In fact, 80 percent of medical bills contain errors.
This leads to denied claims, missed payments, and unhappy patients.
Medical billing and coding software is the best way to reduce the incidence of these costly errors. Keep reading to learn more about how your practice can benefit from a software consultation.
1. Increased Efficiency
With medical billing and coding software, you can improve the efficiency of your operations. A software consultation is an opportunity to learn more about how you can cut down on paperwork and manual work and reduce the frequency of errors.
Reducing the amount of paper your practice uses can save you time, money, and space. Storing documents electronically also increases security, which is important for medical practices that store patients' most sensitive data.
If you haven't yet gone paperless, now is the time.
2. Better Claim Tracking
Medical billing software makes it easier to track and process claims.
Billing software allows you to easily review patient coverage and alerts you to claim denials. It can also help guide you through the process of resubmitting the claim and bring any coding errors to your attention.
This can ensure you are providing accurate information to your patients and speed up the claims process.
3. Real-Time Reporting
Medical billing software is a critical part of your practice management system. Your medical billing software should include tools to help you analyze your practice's performance.
Are you using patient health records in a meaningful way? How can you improve the experience for your patients? What processes can you improve to increase efficiency in your operations?
Medical billing software also allows you to generate reports on payments received to take a closer look at your profits and losses. Every business, no matter the industry, should make use of data reporting to learn more about what you are doing right and what you could be doing better.
4. Better Patient Care
At the end of the day, your practice should strive to provide the best possible patient experience. Medical billing and coding software can help you do that by making things easier for your patients.
Patients want to be able to make payments electronically and have easy access to information about their benefits and outstanding balances. Making the experience more convenient for your patients increases retention, which is critical in such a competitive industry.
5. Information is More Accessible
Medical billing and coding software gives you more control over your patients' information and makes it easier to access that data.
Information collected manually is more likely to contain errors and can be difficult to locate when you need it. When you can easily access the information you need and that information is accurate, you can process payments more quickly.
Are You Interested in Learning More About Medical Billing and Coding Software?
As you can see, your healthcare practice could benefit from medical billing and coding software. All you have to do is schedule a free consultation to learn more.
EL Medical Billing Solutions is just a phone call away. Click here to contact us today.
...more
3min
June 21, 2023 Medical Billing and Coding: Understanding Why Providers Struggle
Medical Billing and Coding: Understanding Why Providers Struggle
Medical billing and coding tasks are necessary for healthcare providers to receive payment for their services.
However, many medical providers struggle with performing these tasks.
Medical billing and coding is a complex process that requires specialized knowledge and attention to detail.
One reason why medical providers struggle with medical billing and coding tasks is that it is time-consuming and takes away from the time they could be spending with patients.
Medical providers are often overworked and have limited time to devote to administrative tasks such as medical billing and coding.
This can lead to errors and delays in payment, which can be frustrating for both the provider and the patient.
Another reason why medical providers struggle with medical billing and coding tasks is that it requires specialized knowledge and training.
Medical billing and coding is a highly technical field that requires a thorough understanding of medical terminology, anatomy, and coding systems.
Many medical providers may not have the necessary training or experience to perform these tasks accurately.
As a result, they may make errors that can lead to denied claims or delayed payments.
EL Medical Billing Solutions is a terrific outsource if you ever need help.
The Importance of Medical Billing and Coding
Medical billing and coding is an essential aspect of healthcare administration.
It involves the process of translating medical diagnoses and procedures into codes that insurance companies can understand and use to reimburse healthcare providers.
https://www.elmbs.com/medical-billing-and-coding-understanding-why-providers-struggle/ for full description.
...more
12min
March 16, 2022 Patient Eligibility- Creating an effective process
Patient eligibility and benefits verification is the process to confirm your prospective patient insurance benefits for covered services. You would confirm information such as copayments, deductibles, coinsurances, and being in-network or out-of-network with that insurance company.

...more
18min
March 06, 2022 Season 2 RCM- Patient Eligibility
Season 2 RCM- Patient Eligibility Sit back as we head into the next topic of patient eligibility. if done wrong this can disrupt your entire medical practice revenue cycle process.
...more
8min

FAQs about EL Medical Billing Solutions Podcast:

How many episodes does EL Medical Billing Solutions Podcast have?

The podcast currently has 26 episodes available.