Why-Outsourcing-better-option-for-healthcare-companies

Why Outsourcing a better option for Healthcare companies

by
A/R Analysis & Follow-upDemo & Charge EntryDenials ManagementHealthcare BPOMedical Billing CompaniesMedical CodingNewsRevenue Cycle Management CompaniesTechnology

Outsourcing as a Better Option

No genius on this Earth can stop the disaster from hitting the world. May be at least we can stop your bills getting denied! Why don’t you give a try?

The grieving situation the world is going through was never imagined and is unforgettable.

It ain’t so easy for healthcare providers to manage by working in the remote, restlessly. While patients are increasing, workload increases too. They spend very less time on support.

In the current scenario, when accessing basic needs becomes a difficulty, it’s obvious they will not have time to claim their medical bills.

So, we suggest outsourcing! Let’s get deeper!

How RCM works for Healthcare professionals:

  • It is well-known that healthcare is very busy with patients and at this critical phenomenon, their work is inevitable.
  • They really don’t have time for claiming medical bills. Back office works are extremely hard while working remote. So, best choice is outsourcing with a Revenue Cycle Management service company.
  • Medical billing claims, despite of values are claimed with Insurance companies behalf of healthcare professionals to make better revenue payments. This could reduce extra burden.
  • RCM Company follows rules and regulations and finds a better option to generate the revenue into healthcare provider’s pockets. They follow a process for claiming those medical bills.

Jobs that can be outsourced in healthcare:

  1. Patient Demographic Entry
  2. Patient’s Reconciliation
  3. Account Receivables
  4. Follow-up with Insurance companies
  5. Medical Billing and Coding
  6. Medical Claim Processing
  7. Denial Management
  8. ICD and CPT coding
  9. Health claim Transmission
  10. Reports creation.

Patient Demographic Entry:

  • It’s well-known that pre-registration process is quite confusing and tiring for many, so, Outsourcing can ease up the process.
  • Collecting details such as name date of birth, address, insurance details, and medical history as provided by patient at the time of visit.
  • The details are validated and updated if required.

Patient’s Reconciliation:

  • Every Organization maintains records which is very essential. The record consists of active and discharged patients list.
  • Outsourcing an RCM company keeps this list of services updated in every hour for all the healthcare professionals. The services ensure patients records to be updated whenever hospitals or healthcare providers need to have a check.

Account Receivables:

  • After the claims are submitted to the Insurance company, outsourcing takes the responsibility to proceed further.
  • The service provider will have a track of all claims and have a regular follow-up. RCM company takes all the steps with the insurance companies to ensure processing and recovery of payment.

Follow-up with Insurance companies:

  • If the claims are not processed and paid regularly or if there are denials, then it would have limited chances to find out the reasons for claim denials or rejections.
  • Outsourcing solutions manages the volume of Insurance accounts follow-ups and leads to revenue payments without any risk.

Medical Billing & Coding:

  • Medical billing has a process and few rules and regulations to follow. RCM companies are well aware of the standards and rules that has to be followed.
  • It can also help by reducing work load for both, healthcare professionals and the insurance companies.

Medical Claim Processing:

  • In order to render beat healthcare services, continuous flow of information from healthcare is needed.
  • The patient should get a print and online report of medical prescription. The RCM company can perform well by doing the same in a righteous manner.

Denial Management:

  • It’s really critical for a healthcare provider to handle denials. Well trained account receivables executive can easily spot errors when a claim is denied.
  • Outsourcing Company checks medical coding and help to identify recurring issues.
  • Experienced professionals can handle the denials and ensure seamless flow of revenue.

ICD and CPT Coding:

  • These ICD and CPT codes on super bills are provided for patient from hospitals. It’s validated by the outsourcing team for preventing upcoming; down-coding that implies all the denials.

Healthcare Claim Transmission:

  • The health related claims are the part of healthcare industry and can come from carriers and healthcare professionals. There are several types of claims that include dental, pharmacy, in-patient and out-patient claims.
  • RCM companies and check errors and rectify false claims and send them back to insurance companies.

Reports Creation:

  • The tasks such as creating a detailed and well formatted prescription can be considered as Outsourceable.
  • However the job can be well performed in expected quality and quantity by trained team of assistant workforce in outsourcing company.

Credentialing Services:

  • Accurate medical credentialing requires thorough documentation of each educational and professional quality of the healthcare provider, which gets tougher to maintain for an in-house team.
  • With the help of outsourced services, a separate dedicated team takes care of every step of the way, from document collection to verification.
  • This also makes getting providers on insurance panels easier, since the credentialing teams stay up to date with the specified requirements of the different payer networks.
  • Some of the leading RCM companies also offer software solutions, customized for a particular clinic, to improve the workflow management.

How QWay Health helps in lockdown:

  • QWay Health has a expert workforce who can excel in processing the claims and collecting the revenue.
  • It assures quicker payments on time with a regular follow-up with the Insurance companies.
  • It plays a crucial role in generating revenue to the healthcare providers by extending series back and forth.
  • QWay delivers smoother and swifter services to the healthcare professionals by means of RCM.
  • It concentrates on smaller and larger healthcare professionals or hospitals with cost effective and facile claim reimbursement services.

Services offered by QWay Health:

  • Patient Demographic entry
  • Eligibility Verification
  • Pre-Authorization
  • Medical Coding
  • Demo & Charge entry
  • Payer and Front-end rejections
  • Payment posting
  • AR analysis & Follow-up
  • Denial Management
  • Worker comp/No-fault Follow-up
  • Appeals Processing
  • Returned mail Processing
  • Provider Credentialing
  • Credit balance/Refund Processing
  • Old AR Aged AR.

Why choose QWay Health? 

  1. Cost Advantage
  2. Recruitment
  3. Quality Service
  4. Infrastructure and Technology
  5. Experience
  6. Reliability
  7. Faster Expansion

  • Cost Advantage: 

Cost advantage is one of the most important reasons to choose QWay Health. Other medical billing companies would demand to spend a lot of money to create infrastructure, recruitment, training etc.

  • Recruitment:

Workforce is very essential for any organization to grow. QWay Health holds about 800+ working across the globe. All the employees excel in all the skills required for a Medical Billing company.

  • Quality Service:

It hires experienced people from the outsourcing companies to deliver best Revenue Cycle Management services to their clients. The claims are processed on time and managed with accuracy.

  • Infrastructure and Technology:

With highly equipped technology and infrastructure, QWay can expand its workforce and infrastructure according to their client requirements. It can possibly meet the needs of the client or healthcare professionals at any point of time.

  • Experience:

QWay Health has experience of 10 years in RCM industry. It holds a grip on each and every aspect of the company with a huge exposure in the medical billing industry. As it is for more than a decade, they have a lot of experience in process and support capabilities.

  • Reliability:

QWay is known for its work ethics and more reliable. They are more loyal to their clients. They have all the deals signed with an agreement.

  • HIPAA Compliance:

QWay Health maintains its promise of enhanced services by staying compliant with the HIPAA guidelines. With strict security systems and privacy protocols in place, QWay ensures that patients’ records are never tampered with, and your services stay on top.

  • Faster Expansion:

As the company is growing, it is making itself ready to scale up. It shows no objections to expand its company if required accordingly. So it also indulges in working with more workforce as per client requirements.

If you would like to write to us, please do mail to shehan@qway.us

Comments are closed.