Planning your 2022 Strategy to Generate More Revenue

1. Planning your 2022 Strategy to Generate More Revenue https://www.247medicalbillingservices.com | +1 888-502-0537

2. Planning your 2022 Strategy to Generate More Revenue The years 2020 and 2021 were beyond imagination for the healthcare industry. Nothing could have prepared them for the huge hit to the economy due to the COVID-19 pandemic. With the start of a new year, here is a chance for medical billing providers to rethink and improve on their strategies for better revenue. With the constant changes and the recent pandemic, the healthcare system always provides new challenges to patients and providers. Here are some tips to help you plan your strategy to generate more revenue in 2022. https://www.247medicalbillingservices.com | +1 888-502-0537

3. Planning your 2022 Strategy to Generate More Revenue  Build a Strong Team If you’re hiring, select the right people! The staff should be able to run the office while taking care of the patients. Your company should also be able to communicate well and maintain a good and stress-free working culture for the staff. Training staff is also essential. e.g., A training about the major change in 2021 about replacing Medicare physician fee schedule. It will be changing fee schedules and reimbursements in the future.  Maintain a Simple Collection Process While the pandemic and the lockdown have brought in a shift to telephonic or virtual discussions, it has become more critical to maintain an easy process for you and your patients. https://www.247medicalbillingservices.com | +1 888-502-0537

4. Planning your 2022 Strategy to Generate More Revenue  Handle Claims properly Quite a few claims are denied because of errors or non-adherence to the new updates. Only with correct medical billing and coding and adherence to the guidelines given by insurance companies; claims can go through without hassles. With the rejection and re-submission of claims, it can take a long time for providers to receive the payment for their services.  Reduce Billing and Coding Errors While the medical billing industry has shifted to ICD-10 from ICD-9, ICD-11 may soon come into use from January 2022. The transition to ICD-10 brought in more than 140,000 new codes and procedures, so will the next transition. New codes have and will be added in 2022 for procedures and tests of detecting or treating COVID-19. Hence, all providers will need to be updated and train their staff accordingly. https://www.247medicalbillingservices.com | +1 888-502-0537

5. Planning your 2022 Strategy to Generate More Revenue Improve Track the accounts receivable that are pending to get a better collection. Track each figure quarterly and compare it with the last year's numbers for timely analysis of new procedures. Also, keep track of problematic accounts for potential challenges in the future. For example, late payments, frequent changes in contact details, or frequent declined payments are some of the very common giveaways for such problematic accounts. Outsourcing All these struggles can be easily managed by outsourcing medical billing and coding services. https://www.247medicalbillingservices.com | +1 888-502-0537

6. Planning your 2022 Strategy to Generate More Revenue These companies are aware of all the current trends, guidelines, or billing and coding standards required to be met in the billing industry. They will adhere to each and save your money and time with successful claims. They have dedicated specialists with the expertise to take care of the correct submission and re-submission in cases of denied claims. Also, they take lesser time, and the process is handled quicker than providers. When the billing troubles have been handed over, you can get sufficient time to focus on your patients. 24/7 Medical Billing Services can help simplify the whole process, ensure accuracy, and dedicate their team of experts to generate more revenue for you in 2022. Conclusion: https://www.247medicalbillingservices.com | +1 888-502-0537

7. Planning your 2022 Strategy to Generate More Revenue About 24/7 Medical Billing Services: 24/7 Medical Billing Services is the nation’s leading medical billing service provider catering services to more than 43 specialties across the entire 50 states. You can rely on us for end-to-end revenue cycle management. We guarantee up to 10-20% increase in the revenue with cost reduction of your practice for up to 50%. Media Contact: Hari Sudan, 24/7 Medical Billing Services, 16192 Coastal Hwy, Lewes, DE – 19958 Tel: + 1 -888-502-0537 Email - info@247medicalbillingservices.com https://www.247medicalbillingservices.com | +1 888-502-0537