Medical Billing Outsourcing Versus In-house

There are many compelling reasons why medical billing outsourcing to a professional medical billing and coding company makes sense. A major problem with in-house medical billing services is the human one. Management, turnover, retraining and growth. Do you have the time and money for all of that? HRM (Human Resource Management) is the most compelling single reason why physicians and other medical service providers outsource their medical billing to a medical billing company that specializes in providing this service.
HRM problems come about from two areas, employee turnover and practice growth.
Reducing Employee Turnover With Medical Billing Outsourcing:
While your practice may be lucky by having people who have stayed with you through the years, the fact remains that they will, eventually, leave. Others are faced with an on-going turnover problem. In either event, once a medical billing specialist leaves, you are forced to fill the vacant spot right away or your cash-flow may be compromised. That often means hiring someone with lesser …or worse yet very little medical billing experience. Inexperienced medical billing specialist make errors ... errors that can cost your practice money or seriously delay your getting paid in a timely manner. Also, who will take the time to train your new medical billing specialist? Will you spend your time doing this? Or will you pay someone else to do it? Is that a good use of your time? Even if you still have other medical billing specialists, their use in training will take away from their time normally spent in helping to get you paid in a timely manner. Medical billing outsourcing avoids these problems all together.

Many medical practices go through high turnover periods, while others find loyal people who dedicate many years to working for the same Physician. The human resource management cycle can be very difficult for a Physician to maintain. Once the medical billing specialist leaves, the Physician is left with no other option and is usually forced to hire another medical billing specialist who has very little experience. Ask yourself this question, when would you be the most worried; when your receptionist quits or when your medical billing specialist leaves? Do you really have the time to find a medical billing specialist who is experienced and reliable and can do the right job with the amount of attention your medical billing deserves? Medical billing outsourcing is a better solution.

Growing a Professional Practice:

As your business grows, your revenues will grow and so will the medical billing and coding workload. However, your employee costs are fixed costs, while your billings and receivables are not fixed. So, when your business has grown to the point where the workload overtaxes the current medical billing personnel, you will need to add another medical billing specialist … maybe more. That is an abrupt increase in fixed costs, because now you are - in effect - overstaffed, as the volume of the workload has not as yet caught up to your newly-expanded billing capacity.

Use medical billing outsourcing to change your medical billing expenses from a fixed cost to a variable cost and improve your ability to manage your business.

When you choose medical billing outsourcing, your costs vary directly with your medical billings. If your medical billings drop, your costs drop. If your medical billings go up, your costs do not rise disproportionately. This simple fact can make your business planning easier.

Less Paperwork and Lower Employee Costs With Medical Billing Outsourcing

If you do your medical billing internally, salary is typically only about 70-75% of your employee costs when you figure in payroll taxes, FICA and insurance. Not to mention that added paperwork cost of administering them. Plus, when your medical billing specialists are sick or on vacation, you're still paying them for not working. When you outsource your billing by taking advantage of our professional medical billing specialists, the overhead and paperwork is ours, not yours.

• Medical Billing Specialist's Employee salary
• Medical Billing Specialist's Employee benefits
o Worker's compensation
o FICA
o Healthcare insurance
o Vacation, sick leave, etc.
o Performance bonus
• Computer hardware purchase & maintenance
• Software purchase & renewal
• Clearinghouse fees
• Postage
• Stationery
• Physical (Office) Space
• Training and re-training
• Recruitment costs
• YOUR time
• YOUR opportunity costs

Reduce Errors and Receive Revenue Faster With Medical Billing Outsourcing:

Medical Insurers are always looking for ways to slow down paying you. It's how they manage their cash flow. Anything that is miscoded can cause your bill to be rejected or its payment delayed significantly. When you outsource your medical billing to our medical billing specialists, you'll not only be getting professional medical billing services, you'll be benefiting from a degree of accuracy that would be difficult to match internally. At Medical Billing, each submission is reviewed by a supervisor to help ensure accuracy. That "extra level of eyes" is a luxury impractical with in-house medical billing.

Our Incentive, Your Control

When you take advantage of medical billing outsourcing, you improve your cash flow and collections and reduce the costs and headaches of employee problems. And we can even offer you a line of credit at Below-Prime through Medical-Finance.com

Call now for a free consultation. Let our Medical Billing Specialists show you how to keep more of the money you make. Outsourcing your medical billing services allows the money you get to grow in direct proportion to the direction your business is going.

What do Employers Look for when Applying for a Medical Transcriptionist Position?

Transcription developed gradually in the early sixties through different machines like manual and electric typewriters, computers, word processors, magnetic belts, cassettes, plastic disks and digital recordings. In the past, medical reports that were gathered for patients contain handwritten abbreviation notes that were very difficult for common people to understand.

Nowadays, a lot of healthcare providers make use of voice streaming and dictation to make transcription more effective and efficient. However, since the medical spoken language is still too complex to understand, medical transcriptionists are required to convert the spoken medical records into typewritten form.

What is a Medical Transcriptionist?

A medical transcriptionist, also called an MT, is an individual who is in charge of converting or translating a patient's medical records to typewritten layout. Although transcriptions can also be done in handwritten form, a typewritten layout is often preferred because it is clearer and more comprehensible. These transcriptions are usually done for the purpose of charting reports and information. Much of the recordings that a medical transcriptionist works on come from either a Dictaphone machine or recorded tape.

A Medical Transcriptionist should be a practiced typist

Since the market for medical transcriptionists is growing, employers often look for a person who is a practiced typist with outstanding interpretation of what he hears through dictation. A fast typist will be able to lay out the medical records in typewritten form as the recording runs, without having to play back the Dictaphone machine or tape. This makes him more efficient in his job.

An MT should be knowledgeable with medical terms

A medical transcriptionist must have strong knowledge of medical language and terms. Since a medical transcriptionist has to record a lot of medical terms, it is essential that he knows the spelling and pronunciation of such terms. Without a good knowledge of medical terms, it is rather impossible for a person to work effectively as a medical transcriptionist.

Educational qualifications and skills required for an MT position

To be a medical transcriptionist, you must be at least a high school graduate with a diploma that is relevant to the field medical transcription. You will have an advantage if you have at least one to three years of working experience that is in line with the duties and responsibilities of a medical transcriptionist. As a medical transcriptionist, you must be able to comprehend dictation of medical terms and you need to possess short hand skills. You should also be good in verbal communication and spelling, and have excellent memory skills so that you can sort out, count, check and authenticate numbers with accuracy.

Other skills required of an MT

It is essential that you are able to use and operate some of the basic office machines, equipments and computers. A medical transcriptionist needs to possess excellent records maintenance ability and a profound knowledge of medical transcription practices and guidelines. You have to be resourceful enough to be able to use a wide selection of professional reference materials and work under pressure with limited time and minimal supervision.

You must also have the skills to use proper grammar, capitalization rules, and correct punctuations. As you progress in your job as a medical transcriptionist, you will be required to perform quality assurance check to ascertain that the medical reports are correctly done. You will also have to understand and apply important legal concepts like confidentiality.

As a whole, an effective and successful medical transcriptionist has to be able to decide what is essential and vital to medical reports. In other words, a medical transcriptionist has to comprehend the medical terms used in the reports, instead of just being able to identify them. A medical transcriptionist possibly will not be able to determine which parts of a report are important if he has no fundamental knowledge of the terms used by medical experts.

Medical Billing Training - How To Find The Best, Avoid Scams And Get Financial Help!

If you're looking for the best information about the best medical billing training I'm going to help you with a few tips in this article.

Medical billing specialists actually handle a wide range of duties including medical office operations, electronic medical billing and coding, taking care of insurance forms, and using and keeping up with the newest medical billing software. Statistics report that there are more than one million of these specialists in the US.

You'll learn the newest electronic medical billing software called medical practice management software, and the newest and improved versions are quite different from the older versions. But there is a variety of medical records software and electronic medical billing software packages that you will use.

As a medical billing specialist it doesn't matter whether you plan to work for a health-related clinic or company or work from home. Medical clinics and physician offices, various insurance companies and your local hospital all need trained staff to take care of all the billing tasks.

The process of medical billing means taking care of the submission of medical claims and then following up on those claims to health insurance companies so you get payment for any medical services that were performed by a health or care provider.

If you take one of the Internet or online medical billing training courses you'll learn the trade secrets and also how to use what you learn to start a medical billing business from the comfort of your home. And learning from your home computer may just be the best way for you to learn how you can start a medical billing career.

One of the first steps is to decide whether you should take your electronic medical billing training online or on a campus.

After completion of your training you can expect to earn between $25,000 and $30,000 annually if you're working on salary. You can find medical billing jobs throughout the US, with wages ranging from $10 to $20 on an hourly basis depending upon your range of experience and your geographical location.

The smaller medical offices usually outsource billing and coding work to work-at-home medical specialists who have an established, reputable medical billing business. To completely understand the payment of a medical billing claim, the health clinic owner must have thorough knowledge of all the insurance plans that companies offer and know the laws and regulations that preside over them,

Because many health insurance claims are rejected because of faulty billing practices, doctors and health care providers only hire trained professional medical specialists for medical billing and coding. They no longer depend on regular office staff to handle it.

So if you're considering becoming a 'medical biller' you need to decide whether you want to go to a local vocational or community college or take an online medical billing training course. Check with your local Better Business Bureau to check out the reputation of any local schools you're considering. You want to make sure they have no outstanding complaints.

When deciding on the best program for you make sure to compare all the offerings and make sure it includes everything you need. Read over any contracts thoroughly so that you know exactly what you're committing to - what it's going to cost, what happens if you can't complete the course, etc. Have a trusted friend, parent, spouse, partner or advisor read the contract also. If you're going to an accredited college or university this will be less of an issue. You want to know that you're signing up with a reputable online or vocational school.

Today starting up a medical billing business from your home is easier than ever. You don't need a college or university degree to become a medical billing specialist. Learn all you can about medical billing before you sign up whether it's a school online or an on-campus school.

Some of the online medical billing training programs have basic introductory classes, intermediate classes, and classes for those who are advanced. Once you finish your training you'll be fully trained and informed and immediately ready and able to either start a work-at-home business or comfortably find a medical billing job. It's not well publicized but the federal government has set aside money for online degree courses and you should check this out so you can save money on your course.

Malpractice Lawyer: Your Guide to Avoid Any Medical Catastrophe

 

In today's society, many people do not realize that medical malpractice is a growing trend in which everyone should be aware of. Fatalities due to medical malpractice are occurring everyday from misdiagnoses and receiving the wrong treatment. One major reason why people don't realize that medical malpractice is a big problem is because most of the cases are private and not reported, thus not shedding light to this issue. Many people have suffered from medical malpractice but they don't even realize it because the public doesn't know enough about it to even question it. People are convinced that every word uttered from their doctor's mouth is true and they do not question that type of authority. This fact will explain why only 2% of medical malpractice occurrences are filed in a lawsuit. And even worse only half of that 2% actually wins their case. Therefore, it is imperative to hire a malpractice lawyer with the experience necessary to questions those whose actions are questionable.

Doctors, medical professionals, nurses, and medical organizations have medical malpractice insurance that covers their tracks if a patient files a medical malpractice suit against them. This type of insurance is increasing because the number of medical malpractice cases is also on the rise. Previously medical malpractice insurance was based on a flat rate, but now that it is rising the medical industry is up in arms. The fact is that there are not as may medical malpractice providers because they can carry very big risk. Medical costs are increasing and this it is that much harder to make a profit. You would think that in the medical industry people are not just looking to make a buck, however that's exactly what they are trying to do.

What constitutes medical malpractice is when there is a failure of treatment in regards to a patient's illness or injury. This is a failure to act in a reasonable and timely manner that worsens the original injury. If a medical professional does not diagnose a illness, has a delayed reaction, or just plain treats the illness/injury incorrectly, it can be constituted as medical malpractice. When under the knife, and a doctor, surgeon, or nurse misuses any type of drug that causes harm to the patient can be deemed as medical malpractice. Also, giving out the wrong prescription, treatment, or referral can be a type of medical malpractice.

Medical malpractice lawyers that have experience in the medical industry will significantly help the chances of you getting the settlement that you deserve. Since medical malpractice lawsuits are confusing, expensive, and complex you will need to hire a medical malpractice lawyer to help you win your case. What you can do to help your medical malpractice lawyer is to provide them with all the right and necessary medical documentation that backs up your claim. These types of documents include the patients medical history, all hospitals, doctors, & nurses that provided you with treatment.

A medical expert will review the case and will ultimately be the one to decide if the suit is legitimate. Working with a malpractice lawyer will help you make the right and educated decision on whether or not it is worth it for you to move forward. If you have all of the appropriate documentation about you being mistreated, make sure that all of your rights are protected and that you will receive the right compensation for your loss and damages. In a medical malpractice case there will be the costs of the medical records. Either way an experienced and knowledgeable malpractice lawyer will be able to tell you exactly what to expect. Malpractice lawyers will not take on medical malpractice cases lightly so you will know what your chances are. Any cost incurred will be recovered from the loosing parties' insurance company.

 

Why a New Trend of Blue Collar Workers are Outsourcing Their Medical Needs

Copyright (c) 2008 Medical-Tourism-Guide.com

Blue collar workers account for an increasing percentage of people outsourcing their medical needs to the medical tourism industry. Uninsured and underinsured laborers are tired of the rising medical costs and the astronomical costs of insurance coverage in developed countries.

Case after case is being shared about blue collar workers seeking alternatives to the out of control healthcare costs at home. A typical scenario is that of a laborer who suddenly finds himself in need of heart surgery or a knee replacement. The choice for many of these workers is to either do without the surgery, empty out the lifetime savings account, use the retirement account or sell their home. Like millions of others in need of a costly medical procedure, they simply cannot afford it.

In some instances, wait time is also a factor. In countries such as Canada, for those with needs that some of us might perceive to be a priority, there is a waiting list up to a year long. Reportedly, it is the bureaucratic red tape that is often the sole hindrance to timely medical care. A person can literally die waiting for approval for a life saving surgical procedure in a developed country, yet the same procedure can be obtained at a medical tourism destination with little effort.

Medical tourism offers hope to blue collar workers and others who are in need of medical procedures but cannot afford them, cannot wait for them, or do not want to use their retirement accounts to pay for the procedure.

In some instances, it is not the worker who is making the decision to have the procedure done overseas. Medical tourism facilities have started heavy marketing campaigns to Western employers, particularly those who employ the blue collar labor force. More and more, it is the employer who suggests (and in some instances, mandates) having the surgery done in another country.

The bottom line is that the worker in need of a heart bypass can obtain one in another country for $10,000 vs. $70,000 in the US. He can get a knee replacement for $6,000 vs. $50,000! It can be scheduled within a couple of weeks in another country, rather than wait a year or more in the US or Canada.

Ten years ago, the concept of medical tourism was new and received bad media coverage in developed countries. It was misunderstood and given bad press. Today, that trend has not only reversed, but medical tourism is being embraced as a viable option for people in need of affordable medical care.

Case studies and statistics verify that medical tourism offers top quality medical care in accredited facilities. A growing number of facilities that offer medical tourism are accredited by the IOS (International Organization of Standardization) and the JCI (Joint Commission International).

Many of the doctors who work in these medical tourism facilities have studied in the developed countries and then have returned to work in their home countries. A person in need of having a medical procedure done can rest assured that he will be cared for by highly qualified staff, with proficient translators standing by!

India has a goal of becoming the choice destination for medical tourists, and they are marketing to the blue collar workers who are need of both medical services and a long overdue vacation. Making the choice to obtain medical services in India means that the average laborer could travel with a companion to a state of the art facility in India, have the procedure done, and recover in a five star resort setting, for about 1/8 of the cost of having the procedure done at home.

If India is not appealing, there are multiple other options. Destinations such as Thailand, Costa Rica, Mexico, Singapore and Panama are also exotic choices for the medical tourist. In many instances, post-surgical recovery can be done in a beach front resort. Once the patient has sufficiently recovered from surgery, there are plenty of shopping and activity options available to the medical tourist.

The concept of going to a third world country to obtain a package of services that supercedes what is available at home is becoming more widely understood and accepted. Just as the economy has become a global economy, so it is with the medical field. It is becoming commonplace practice for a person to travel abroad for all types of medical procedures. We are seeing, in the 21st Century, that we are truly living in a world with no medical borders!

As insurance costs rise at home, and wait time lengthens in the midst of government red tape, blue collar workers are taking advantage of an industry that once belonged to the elite white collar workers. Medical tourism is a viable option for obtaining timely and quality medical services in a vacation paradise, for a fraction of the cost of the same medical procedure in the home country.

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Medical Malpractice : Tragic But Very Common

Medical malpractice can occur whenever a patient is in the care of a healthcare professional. This can involve the failure or delay in properly diagnosing or treating an illness or injury so that it causes new or aggravated injuries.

Highly experienced and knowledgeable medical malpractice attorneys help thousands of people every year who have been the victim of medical malpractice or medical negligence.

Many people do not realize how frequently medical malpractice occurs. In fact, thousands of people every year are either injured from medical malpractice or medical negligence, or die from injuries or illnesses that could have been prevented or treated with proper medical care.

If you or a loved one has been injured or if a loved one has died as a result of medical malpractice, contact an experienced medical malpractice attorney. Medical malpractice claims can be difficult because health records must be researched and rules and regulations must be followed in order to prove that injuries were sustained or aggravated as a result of the medical malpractice or medical negligence.

Since medical malpractice can occur in many different situations, medical malpractice claims can take many different forms, for many different reasons. Some of the common medical malpractice claims are:

· Birth Injury – when an infant is born, it is a very delicate situation, and medical malpractice can arise because of errors made in the delivery or care of the infant.
· Cerebral Palsy – is a medical condition that is caused by brain damage from a number of reasons. Many times, cerebral palsy is caused by medical malpractice or medical errors, such as birth injury.
· Failure to Diagnose – if your healthcare provider fails to diagnose you for an illness, they could be held liable for medical malpractice because they did not prescribe a treatment, and thus allowed the illness to progress.
· Medication Errors – if you are prescribed the wrong medication it is medical malpractice, and the results can be disastrous. If you are allergic to certain substances, the wrong medication can even cause death.
· Defective Medical Devices – if you are injured or suffer medical problems because you are prescribed or given a defective medical device, the healthcare provider can be held responsible for the resulting injury.
· Wrongful Death – Thousands of people die every year from medical malpractice. If you believe your loved one died due to medical malpractice, contact an experienced medical malpractice attorney.

Medical malpractice can cause serious health problems. If you have been the victim of medical malpractice, you are entitled to compensation for the resulting medical bills, lost wages, loss of enjoyment of life, and other damages.