Medical Billing Services in 2022 - Changes to Expect

1. Medical Billing Services in 2022 - Changes to Expect https://www.247medicalbillingservices.com | +1 888-502-0537

2. Medical Billing Services in 2022 - Changes to Expect Due to the COVID pandemic, hospitals had to operate on tight margins and extract the maximum out of the revenue cycle more than ever. The pandemic highlighted the importance of medical billing services all the more as it had become a struggle to keep up with the testing and immunization records. The post-COVID healthcare industry will be much more complex than earlier. In the coming year of 2022, this will result in the introduction of key technologies and process innovations to improve business outcomes. There have been a few recent changes that have impacted the medical coding and billingindustry significantly. Let’s understand these changes and how they might affect 2022. https://www.247medicalbillingservices.com | +1 888-502-0537

3. Medical Billing Services in 2022 - Changes to Expect • • Adding COVID-19 Codes Transitioning to New ICD Systems Replacing Medicare Physician Fee Schedule Increased Automation Increase in Use of Artificial Intelligence Aligning EHR Software • • • • • https://www.247medicalbillingservices.com | +1 888-502-0537

4. Medical Billing Services in 2022 - Changes to Expect Changes in Medical Billing Industry Statistics and Outlook According to the Bureau of Labour Statistics, employment in the field of medical billing is expected to grow by 8% on a national level in 10 years, from 2019 to 2029. Family healthcare insurance plans have moved to a higher-deductible model and consumers will be able to use their Health Savings Accounts (HSAs) for covering the costs. Patients have become more aware of their payment responsibilities and generally want to know their bills upfront considering the growth of electronic payments. Unfortunately, traditional medical billing may delay the collection process by as much as 30 days. The industry is coming up with new payment models such as Revenue Cycle Management (RCM) which can help manage patient payments easily and streamline the whole process. https://www.247medicalbillingservices.com | +1 888-502-0537

5. Medical Billing Services in 2022 - Changes to Expect Conclusion: Outsourcing medical billing to another company helps providers focus more on patients, increase productivity, and reduce burnouts. It enables providers to allocate their resources in other aspects of their business. Plus, these companies who take up the outsourced work are compliant with the current healthcare regulations and strive to ensure steady growth. Outsourcing help businesses lessen their burden as they take care of all aspects of revenue cycle management, manage the accounts receivable, and timely submission of claims for reimbursements. Consider choosing 24/7 Medical Billing Services for all your needs. Simplification of your billing, dedicating resources to payer reimbursements, and ensuring the accuracy of claims; everything will be taken care of! https://www.247medicalbillingservices.com | +1 888-502-0537

6. Medical Billing Services in 2022 - Changes to Expect 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