Streamlining Your Practice's Finances
Billing & Collections
The billing and collections process can be intricate and time-consuming, yet it is fundamental to maintaining the seamless operation of a medical practice.
Streamlining Finances
Streamlining Healthcare Finances, Enhancing Patient Care
We provide support for:
- Physicians
- Providers
- Labs
- DME Companies
Definition
Medical billing entails the submission and subsequent follow-up on claims with insurance companies, with the aim of receiving payment for services provided by a healthcare provider.
Complexity
This process can be intricate and require considerable time.
Issues
If not managed properly, challenges may arise as billing and collections are essential for the seamless operation of a medical practice.
Streamlining Your Practice's Finances
Our Solution
Medical billing entails the submission and subsequent tracking of claims with insurance companies, aiming to secure payment for services rendered by a healthcare provider. This complex and time-consuming process is essential for the seamless functioning of a medical practice.
There are three principal types of medical billing:
- Outpatient billing, catering to patients who visit a hospital or doctor’s office and are then discharged;
- Inpatient billing, applicable for patients admitted to a hospital; and
- Professional billing, addressing services provided by healthcare professionals such as doctors, nurses, and others.
At All MRS, we offer comprehensive medical billing services to a diverse range of clients. Our emphasis lies on accuracy and efficiency; in fact, our commitment is to deliver premium quality medical billing services while ensuring optimal efficiency.
Streamlining Your Practice's Finances
Process
The medical billing process typically encompasses the following steps:
A patient receives care from a healthcare provider and is presented with a statement itemizing the services provided.
The patient’s insurance company is billed for these services.
The insurance company processes the claim and pays the provider, deducting any amount the patient owes in the form of deductibles, copayments, or coinsurance.
The provider charges the patient for any portion not covered by the insurance.
If the claim is denied or paid less than expected, the provider follows up with the insurance company.
The patient settles any remaining balance owed to the provider.
The cycle commences anew when the patient receives further care from the healthcare provider.