Common Problems & MPS' Solution:
How much revenue are you missing out on?
Maintaining an effective and efficient in-house billing system is a very tedious and extremely difficult task, resulting in a LARGE, but avoidable overhead expense. There are many consistent issues that arise while trying to coordinate and manage an in-house billing staff. Listed below are some of the most common problems and our solution to those problems.
Take note! Does your practice experience any of these issues?
In-House Billing Common Problems:
Staff Turnover: Office staff turnover is almost always an issue. Staff with an in-depth knowledge of the billing industry and a good work ethic is difficult to find and maintain.
Keeping Up: With 1 or 2 in-house employees handling the billing function, who is being trained and keeping track of health care billing and reimbursement legislation/policy changes and still maintaining an efficient billing function? Who is spending the time to keep up with and implementing the transition into ANSI 5010 transactions and preparing for the release of ICD-10?
Time: The everyday tasks of handling claims, reimbursements, and accounts receivable in an effective manner is overwhelming for just 1 or 2 people in most scenarios, thus revenue is not maximized.
Distractions: Distractions around a busy medical office setting leaves lost time for billing and collections, but the in-house employee gets paid for that lost time regardless.
The Expense - Cost to the Practice: The time and expense of maintaining an in-house billing team (including software and fees associated with claims submission, payroll taxes, employee benefits, sick pay, vacation pay, continued education and training, etc.) is a HUGE burden and expense in most scenarios.
The MPS Solution:
Our Team: MPS employs highly qualified and experienced health care billing professionals. There is never a reliance on 1 or 2 people, you are partnering with our entire team.
Education: Involved and participating with several national health care management associations, MPS is consistently educated on policy changes, legislation, technology advancement, etc. without ever losing time handling physician accounts.
Focus: MPS professionally handles health care billing and revenue cycle management efficiently 100% of the time on a full-time basis with no distractions - allowing faster turnaround time on insurance and patient reimbursement with fewer denials, thus maximizing revenue.
Front Office Relief: Billing related calls from patients or insurance companies are directed to us, alleviating time and energy for you and your staff, allowing more focus on meaningful patient care.
Technology: MPS uses the most up-to-date practice management software. We implement new product releases on a regular basis and give our clients full access at no additional expense. We are also constantly exploring the best available office solutions to offer to your medical practice.