As a physician do you even know what broadens or squeezes the patient’s influx to your doorstep? You would lose on many, in fact, slowly all the clients, if your medical billing process is not facilitating. In today’s era, there is no room for any errors; you can’t simply undo a bad experience. Billing under such a profession is certainly a daunting task, it involves a lot of prior research, complicated decision making and consumes time. But, there should not be a room for errors, because if there is a loophole, you are going to face major trouble in finances, and your credibility would be on stake too.

1: Payments made problem:

According to a research conducted by McKinsey, amongst the uninsured patients, 74 percent have the capacity and can make payments up to $1000 yearly. Furthermore, for medical concerns, up to 90 percent of the people can pay about $500 yearly, but they hesitate in doing so because:

• Issues arise in the insurance contracts
• Ineffectiveness of the billing process/options
• Billing timings are inconvenient
• Soggy policies
• Exaggerated schedules for the payments

Aren’t these reasons enough to discourage anyone from paying the bills on time? This has another devastating impact, and that is declined loyalty and negative word of mouth.

2: Old fashioned Billing Systems

The systems used by some of the doctors or their staff are creating mess for both the parties. Patients are being bombarded with higher amounts of bills on a daily basis, because debts are increasing, or simply there are errors in the claims, due to which insurances can’t be claimed. Moreover, under such situations patients are more frequently inquired about their problems related to the payment and not health. Therefore, the impression imprinted on them about the healthcare institute gets worse, and they don’t think of coming back.

3: Collecting debts, by hook or by crook:

Those healthcare institutes where old billing processes are practiced, they indulge themselves in some of the worst methods of collecting debts from the patients, and this causes them severe pressure. Meanwhile doing this, healthcare of the patient is ignored and actual motive of the patient visiting you is overlooked.

How can this be resolved?

You need to be proactive with your approach, and this can be by:

1: Verify the patient’s insurance policy and financial capacity

2: Draft a plan B for every patient whom you think is doubtful with the clearance of the dues

3: Hire counselors so that they can have a constant friendly relationship with the patient

4: Imply the use of latest medical billing processes and systems

You can get away with the hassles if you outsource your medical billing services to a reliable provider like Great Lakes.

Whatever business you do, revenue steam remains the heart of it. When it comes to physician medical billing services, collection of receivables plays a very important role. We have specialized and highly trained division that deals with account receivable, so that your practice time and patient care efforts are aligned to establish your business. At Great Lake Billing Company, we keep our eyes and ears open towards the volatile changes in the industry so that prompt reimbursements promise can be delivered to the doctors. You must be having sufficient idea about how important these activities are or how essential it is to have skilled employees for the process. They deal with:

 

• Medical coding
• Prompt insurance processing
• Follow-up timely collection
• Effective patient/client service
• Attentive data management

 

Interestingly, the entire efforts are directed towards improving the collection of the dues and shortening the duration of payments from the day of service being rendered. With all this, the guarantee you get includes:

 

• Frequent cash flow
• Strong customer relationship
• Lowered outstanding receivables
• Increased collection ratios

 

Over the period of time we have tried successful new ways by incorporating technologies in the tasks done by employees so that accuracy can be achieved. Our dedication and constant efforts towards providing professional and effective services to the doctors have increased their revenues by two folds.

What do we Offer?

We offer wide range of services, and these include:

 

1: Constant check by the experts:

Our dedicated consultants focus keep a constant connection with risk analysts and other parties involved in the value chain. In addition to this, they follow the patient’s record, clear the issues at the end of the insurance company, analyses the records and rectifies all the errors which may delay the cash management.

2: On-time Collection:

The consultants keep their eyes on every aspect and generate higher revenues for the clients. Also, with maintenance of day to day bills, the experts have skills in bringing the dues to place, as old as 3 months.

 

3: Managing Denials and Follow-ups:

 

The shortened days of revenue cycle and increased ratio of collectibles directly affect the profitability and the cash flow. Also, the team separates those accounts which require constant follow up or any other necessary actions. A doctor and other medical staff is in absolute peace because they focus on areas they master, while knowing that someone reliable is there to maintain the inflows of cash.

Professional medical billing services have done wonders for many – not only the small healthcare institutions and doctors are benefited, but even the larger organizations enjoyed maximum perks. Billing systems have never been managed so effectively ever since; timely reporting, clearance of the claims, quick due clearance and error free billings, all this makes life amazing for both, doctors and the patients.

The companies that join hands for such services are highly competitive. They have talented staff members, who are expert in the respective field. They know how to make the things done the right way, in the shortest possible time span bringing about maximum profit for the respective client. With all this, doctors and health care centers are benefited the most because the effective operations make them profitable, which translate into surged revenues.

Now, knowing this that such a company is what you need for your company, what are the guidelines for making the right choice? Well, there is no secret formula for that, but these tips would be of great help to you.

1: The Company must have different teams for different clients – this is essential because at a time, a company would be looking after various clients and since the matter involves retaining clients and quick cash inflow, you need strong attention to detail.

2: Experience may be or might not be much of a concern here, just make sure you ask them for a proposal before coming to any conclusion. This would help you in knowing about the services they are going to provide you; also, any ambiguities can be cleared out both party ends.

3: quotes are very important, because that’s where you opted the company on the very first hand. You would want to pay a price that suits your budget and brings the best for your business. Tell me what you want and ask for the fair charge of the service, you would be easily to filter down choices for you.

Look no further because you have landed to the right avenue – Great Lake Medical Billing is one such company that you can trust for their effective work and years of experience. We act as your specialized revenue cycle optimization partners; by using out “secret sauce” formula. Let our qualified experts handle this important matter for you! This is the best choice you could make when it comes to quality and professional medical billing services.

Do you know the countless benefits that are linked to physician billing services? They not only ease your hassles but maintain the operating tasks without any errors. As a doctor, there are ample responsibilities that require precision to detail – patient care should be the utmost priority, as that’s the only way to be productive and increase the revenues. However, if as a practitioner you would distribute your time in patient care and maintenance of the support activities, you would be standing between nowhere. If you think that supportive tasks do not require much attention, this is where you are seriously mistaken.

For doctors it is very essential to know about the history of the walk-in patients. What is your credibility? Do they have sufficient wealth to care the insurance claims? If you fail to keep a check on such important aspects, how are you going to generate income for yourself? The insurance company tends to decline the claims easily, so there need to be thorough check on the claims generated and the history of the patients so that end moment’s refusals can be managed.

Therefore, if you intend to avoid all such chaos, and focus on handling the patients, than you must outsource the medical billing services. Under this situation, you would be free from the burden of hiring and checking on with the resources and investing money to put the practice management system in place. The service providers have experts in their team who look after each aspect of the practice management system. They maintain the billing, keep the schedules, maintain records and report it to the employer so that timely changes can be done. The results, presented in the form of the report help in making any important investment decision at the doctor’s end. Moreover, you can hire such services for nominal value; in fact, it would definitely be more cost effective than hiring resources in your office to do the same tasks.

If you are looking for such services, see no longer and hold hands with Great Lake Medical Billing – you can trust our phenomenal services and judge us on the basis of years of experience. We act as your specialized revenue cycle optimization partners; by using out “secret sauce” formula. Let our qualified experts handle this important matter for you, while you pay close attention in handling your patients.

Medical practitioners have lots of responsibilities and they simply have no time to spend on supportive tasks. Therefore, medical billing services play a great role here; the companies that render such services handle the chores of billing and other related management and administrative tasks help in improving the revenues. Such companies offer high quality standards and thus industry is getting more stabilized due to such services.

Medical billing service providers offer comprehensive practice management systems along with claim submissions. Large healthcare institutes have a lot to manage, from promotions to scheduling, maintaining patient’s data and much more. Your needs based on your organizational structure would assist you while selecting the service provider.

Standard billing services:

This is minimum service that any provider would offer, and it includes:

Claim submission: it is done by using software – it involves management of patient’s demographics, insurance details, and other relevant data. This data is used to validate the accuracy of the claims – this is essential because rejection in the claims from the insurance company can be minimized this way.

Regular claims: these are also known as follow up claims. Under such situations, the medical billing service providers show their resilience. They carry out follow ups on their claims tenaciously and aggressively. The reward of all such efforts is recovery of the maximum payments and that even on time.

Systematic reporting: the reports carry details about all the billing services and publish on the monthly basis. These results help in tracking the performances overtime and facilitate to work on improvement areas; thus, cost saving strategy too.

Patient inquiries and billing: they also help in maintaining the billing logistics and take care of inquiries raised by the patients.

Extended billing services

Such services are not directly to the complex billing processes. These include:

Procedure coding: the entire data entered in the system is in the form of codes. This can only be done through the software, thus keeps errors away.

Medical transcription: it is the stage prior to the medical coding. For many service providers, the transcription remains administrative process. There is a lot that goes along, so make your choice sensibly.

Great Lakes Medical Billing is one such company that you can trust for their effective work and years of experience. We act as your specialized revenue cycle optimization partners; by using out “secret sauce” formula. Let our qualified experts handle this important matter for you!

Practice management software has facilitated the healthcare institutes to an extent that all the daunting tasks have been streamlined. Otherwise, you would not have imagined the amount of resources any hospital had to hire for carrying out the daily chores. Manual work is old school, plus it involves errors in drafting reports and maintaining the useful information. Under such an institution, information has to be authentic and error free, because even the slightest mistake may cause someone’s life. Therefore, practice management system comes to rescue under these circumstances and provides error free results.

Any doctor or healthcare institute would want to have higher productivity, and that is only possible when the supportive tasks are effective. There are multiple features of a PMS for example; it includes electronic scheduler for utmost patient’s satisfaction, so you don’t have to do it manually or keep on tallying.

With constant evolving technology and demands for upgrade, there is need to coping up with the cutthroat competition. The usage of system would definitely require you to invest; either you get the system and look for people to manage it for you under your roof, or you can simply outsource such a headache. This is because when handling software, there is a lot that goes hand in hand.

First of all, you need someone who has complete knowledge to handle it. With paying the price for the software, you have to pay fees for the expert too. In contrast to this, you can outsource this task to medical billing service company who would make your life much easier. They look after all the tasks for you, manage your reports and data and ensure accuracy in results. They have experts who know in and out about the software’s and systems they work with; you eventually save the price that is required to pay for the software and the frequent troubleshooting and upgrades it requires. So, a wise physician would definitely look for a company who masters the art of handling such software’s.

Great Lake Medical Billing is one such company that you can trust for their effective work and years of experience. We act as your specialized revenue cycle optimization partners; by using out “secret sauce” formula. In addition, we deliver effective and quality results time to time so that you have no ambiguities. Let our qualified experts handle this important matter for you!

Just like businesses intend to divert their attentions to efforts which would earn them customers with lifetime retention, physicians wish to do the same. They should in fact have long term relationship with their patients – this actually helps in getting more referrals. However, lots of efforts are required to have such contacts and maintaining them is even a tough task. Gone are the days when there was much paperwork needed for all this – now, it’s just matter of a few minutes. Practice management system comes to rescue you under such circumstances. Your life would be at ease since every bit of information would be organized and available instantly. When it comes to handling the system, the approach is simple and systematic.

With such software, you can reach your patients easily. For example, you can manage your patient demographics, manage your appointments and carry out the transactions in a desired manner. Everything would be computer based so there are no chances of any errors that happened at times of manual entries. In a nutshell, productivity of your organization would be increased 10 times more with the implementation of the software.

There is a lot that you can do if you explore the system at best. So many features, upgrades and functions, you can streamline more than you could have imagined. However, for proper handling of the system, you need professionals. That is something that would bother you a bit, since it involves cost. There is one cost that is linked to buying and maintaining the software and then constant upgrades and what not. With this, you are supposed to invest in the professional whose job would be maintaining it for brining the maximum profits. Are you sure that individual knows everything? Are you willing to take that risk and spend so much money?

Ideally, you should outsource this responsibility and hire practice management system services providers. Most of the most billing companies do that. They have professionals (experts) with years of experiencing in doing this task. So, maximize your profits while minimizing the hassles, let professionals manage your customers leading to long term relationships.

Great Lake Medical Billing is your ideal choice for managing this service for the doctors. We act as your dedicated revenue cycle optimization partners. By making the most of effective and automated processes, we ensure accuracy in the practice management services, so that neither you nor your patients face problems or confusing, leading to waste of time and stress.

When it comes to professional handling of the staff financial needs, medical care centers and hospitals prefer employing medical billing service. These services accentuate various tasks from bill management, collection of the unpaid dues and tracking of related payments. Physician billing is required by those heads where patients do not clear their dues on time. Indeed, the doctors or the management of the hospital cannot take care of such issues, so they prefer investing in companies which serve the purpose.

Collection agents working with the billing company maintain a direct contact with the patient via emails and phone, so that the amount owed to the hospital/doctor can be collected. In case the patient fails to pay the due, these agents carry out necessary actions (legal route) and consult with the insurance company for the clearance of the bill. In a nutshell, they ensure physician is paid for the service rendered.

Medical billing service company also manages the insurance claims. This helps in saving the time of the physician – the software used by the company helps in verifying and certifying the patient’s (insurance policy), so that there is not hassle for the physician at the time of the payment. This even facilitates the patient in knowing about how much amount would be covered under the claim, and dues that are to be paid from his pocket.

Since there are multiple services offered by physicians, the company may provide leverage to cover those individually. For example, a plain visit would be charged differently than a patient who is going through pharmacy service. This however gets complicated for a novice, but a company who has dedicated consultants for such services would perform absolutely in timely manner, ensuring accuracy. Above all, the agents from the company keep on handling any chaos or confusions, and offer support services needed by the patients to overcome the hassle faced.

Great Lake Medical Billing is your finest choice for carrying out physician billing services. We act as your dedicated revenue cycle optimization partners; by using out “secret sauce” formula, we deliver effective and quality results in timely manner. We have automated process which ensures accuracy in the billing services, so that neither you nor your patients face problems or confusing, leading to waste of time and stress. Let our qualified experts handle this important matter for you!