1 / 7

How Billing Companies Transform Billing for Treatment Centers PPT

Learn how we help to streamline and optimize billing procedures to ensure accurate and efficient payment processing for treatment centers.

Devin15
Download Presentation

How Billing Companies Transform Billing for Treatment Centers PPT

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. How Billing Companies Transform Billing for Treatment Centers The landscape of mental and behavioral health is rapidly changing. In addition to the time-consuming effort of billing and coding, you must deal with constantly changing legislation, payment structures, and substance addiction billing software, as well as the issues of out-of-network billing. Billing concerns plague many drug and alcohol addiction treatment facilities, resulting in late payments and revenue loss. This is where the need for outsourcing substance use disorder billing comes in. Outsourcing medical billing and coding provides you with a team of skilled billers and coders who will tackle these problems on your behalf. A substance addiction billing company will also keep track of receivables, promote best practices, and boost reimbursements. Let’s see how billing companies transform billing for treatment centers. https://www.247medicalbillingservices.com https://www.247medicalbillingservices.com info@247medicalbillingservices.com info@247medicalbillingservices.com

  2. Increased Focus on ICD-11 According to the research, the most prevalent classification system, ICD-10 (International Classification of Diseases, Tenth Revision), will be replaced by ICD-11. That implies that ICD-11 will become the accepted international standard for disease classification in 2023. • Introduction of Blockchain Blockchain, which is slightly more capable than a decentralized ledger, records all forms of transactions. Since there isn’t much distinction between a sequence of EHRs and a financial ledger, a blockchain ledger can be easily incorporated into an EHR. As blockchain records are immutable, including blockchain technology makes the rehab billing services system more safe and accurate. https://www.247medicalbillingservices.com info@247medicalbillingservices.com

  3. Other Services There are a few critical trends that stand out when one looks at high-growth medical billing companies, defined as organizations with two years of year-on-year revenue growth of 11% or more. Offering more substance use disorder billing and coding services could be a way to grow. According to a survey, 91% of these companies provide appeals services, while 84% give patient support. Other services to consider include: • Credentialing • Practice technology consulting and support • Compliance consulting https://www.247medicalbillingservices.com https://www.247medicalbillingservices.com info@247medicalbillingservices.com info@247medicalbillingservices.com

  4. Why is it Important to Keep Up with the Changes? As medical technology rapidly advances, keeping up with the latest developments is critical to ensuring patients receive quality care. That being stated, here are two eye-opening figures that will help you realize why keeping up with changing trends in substance use disorder billing and coding is equally essential: • According to InstaMed’s Trends in Healthcare Payments Twelfth Annual Report, approximately 87% of patients are interested in making payments online. • The medical billing sector is expected to grow 9.25% to USD eight billion by 2026. https://www.247medicalbillingservices.com https://www.247medicalbillingservices.com info@247medicalbillingservices.com info@247medicalbillingservices.com

  5. About 24/7 Medical Billing Services 24/7 Medical Billing Services is the nation’s leading medical billing service providercatering 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%. https://www.247medicalbillingservices.com info@247medicalbillingservices.com

  6. Call us Today : Media Contact – 24/7 Medical Billing Services, 28405 Osborn Road, Cleveland, OH, 44140 Tel: + 1 -888-502-0537 Email: info@247medicalbillingservices.com Website:https://www.247medicalbillingservices.com/ https://www.247medicalbillingservices.com info@247medicalbillingservices.com

More Related