Health

The Benefits of Outsourcing Medical Billing and Credentialing

If you want to be successful in the healthcare industry, it’s important that your company can keep up with changing tides. And when we speak of medical billing and processing time; who has more availability than an outsourced professional? That is why- despite what some may say about their employees not being talented enough or skilled enough for this task Outsourcing Medical Billing should always come first.

Outsourcing medical billing and credentialing is an increasingly popular way for practices to offload some of the work, costs and responsibilities involved in handling these transactions.

But why would you want to give up control? With this comprehensive guide on outsourcing your practice’s revenue cycle management to any physician credentialing service – including everything that needs consideration before making any decisions- it may just become one decision they never regret.

Outsourcing Leads to Amazing Benefits!

Outsourcing medical billing and credentialing is the best way to cut costs, increase the efficiency of your medical practice. We all know that these two crucial departments have always been very time-consuming, have always required a lot of effort from your employees that consume too much time out of the already busy schedules.

If you outsource these two crucial departments, not only will you save a lot of time and increase efficiency but also have access to better technologies or services which would never be available to you otherwise.

You may think this is a long process but I assure you it is not – in fact, it can take just a few months to start seeing the benefits, depending of course on the outsourcing company you choose.

Reasons and Benefits of Outsourcing Medical Billing and Credentialing

Following are the reasons or benefits that will compel you to hire a physician credentialing service to outsource your billing and credentialing tasks.

1. Saves Money

Medical billing is a difficult process that requires significant investment in time, resources and money. By outsourcing your medical billing and credentialing work to an experienced billing and physician credentialing service you can reap the financial rewards of saving thousands every year on salaries for staff members who provide exceptional service as well as office supplies like furniture which are necessary elsewhere too.

Many companies charge per claim or percentage rate depending upon what type they do; either way, it will be cheaper than paying those fees if done internally (personally).

2. Fast Turnaround

Another obvious reason and benefit of outsourcing billing and credentialing tasks is the quick turnaround. Outsourcing credentialing services saves a lot in terms of time and effort of the healthcare providers and reduces the diagnosis phase as well. The standard it takes for a medical centre to verify credentials is between 60-100 days but CVOs can speed up that process allowing surgeons to work without any worries about getting paid late or denied coverage because they don’t have insurance verification on file yet.

3. Improves Cash Flow

Medical billing and physician credentialing services are the answer for any medical office looking to maintain a steady cash flow. When your billing or accounts receivable person goes on vacation, it can mean lost revenue and delayed payments that will affect you both financially as well as in other ways such as having potential clients wait longer before getting treatment at all because there was no one available during their absence!

You need an efficient way of submitting claims so they go out immediately while also generating some income back into this very important department within our company-the bottom line is always good with profit margins high if everything works smoothly without interruption from outside forces.

4. Diverse Expertise and Skills

Medical billers at medical billing and credentialing outsourcing companies know all the changes in regulations and how these may affect your practice. They also have plenty of experience with qualifying paperwork, so you don’t need to worry about that side of things!

A more qualified staff means a smoother process for your office- they’ll take care of everything from insurance forms down to invoices while still making sure everything gets done on time every month whatever happens – even if there is some major collapse going around or something shows up outta nowhere (you never know!).

5. Makes Employees Stress-free

Submitting your own bills is a tedious process, thankless and time-consuming. Error correction; monitoring the progress of reimbursement through reviews with clients or other offices who submit claims on behalf of yours – all this can be done without too much hassle if you outsource billing and credentialing tasks to an expert company. This will further relieve your employees and they will be capable to focus on other important things.

6. Reduces Billing Errors

Outsourcing medical billing services increases the chance of accurate coding and maximize reimbursement from insurance companies. In-house teams often lack time to carefully process your bills, which can lead them to costly mistakes that may affect revenue streams for years down the line.

7. Improves Patients’ Satisfaction

Medical professionals want to provide excellent customer service, but it can be difficult for them when juggling the demands of treating patients and handling billing issues. The medical receptionist is responsible for greeting visitors and answering phones/emails (queries). So, in order to reduce front office workloads by outsourcing some tasks like patient intake forms or greetings; this way you don’t have as many people fall through on their responsibilities which will increase productivity efficiency, employee morale along with improving satisfaction among those that come into contact (patients).

8. Ensures Billing Compliance

With medical billing being a challenging job, it is no wonder that insurance companies are partly responsible. The industry has seen many changes over recent years and this makes staying up-to-date with ever-changing regulations difficult for those working in the field.

Medical office managers must make sure they’re following proper protocol required by each payer while also complying at all times or risk facing litigation on how claims were submitted which will then lead to denial of service payments from your client’s insurer if not corrected promptly enough.

Outsourcing the billing and credentialing workload to the medical billing and physician credentialing service will ensure accuracy and billing compliance.

9. Increases Transparency

Outsourcing your billing is a great way to gain control and transparency. You can review compiled data or monitor the process at any time with up-to-the-minute evaluations of how things are going for you as well, according to one’s discretion. It gives them greater insight into their own practices which was not possible before this decision had been made.

10. Increases Profit and Revenue

One of the most important benefits of outsourcing your medical practice is that it can provide more profit for you. With reduced overhead costs, timely submission of claims and increased reimbursement opportunities at hand there’s no time like now.

The best thing about this? Your patients will be coming back because they want access to top quality services using state-of-the-art equipment coupled with highly trained staff members who are incredible in what they do so don’t hesitate – take advantage while these things last by letting us handle everything else behind closed doors where we’re everyone’s favourite secret weapon: professional peacekeeper.

Conclusion

Outsourcing medical billing and credentialing is a great way to increase the productivity of your medical practice, cut costs. It is not that difficult – you just need to find the right company which will take care of both claims submission and patient’s credentials, making sure everything goes smoothly.

You can avoid a lot of mistakes by hiring a good medical billing and credentialing company which will double-check everything for you. You have nothing to lose – it can take just a few months before you start seeing benefits, so don’t think too much about it and outsource your medical billing and credentialing today, so you can focus on what really matters.

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Report Causes Pfizer Stock to Climb Approximately $1 Billion Acquired by Starboard

(VOR News) – According to a rumor that activist investor Pfizer Starboard Value has taken a holding in the struggling pharmaceutical business that is expected to be worth around one billion dollars, the stock of Pfizer (PFE) is on the increase in premarket trading on Monday.

This comes after the report was made public. The report was made available to the general public following this. Starboard Value was successful in moving forward with the acquisition of the position.

Starboard is said to have approached Ian Read, a former chief executive officer of Pfizer, and Frank D’Amelio, a former chief financial officer, in order to seek assistance with its goals of boosting the performance of the company, according to the Wall Street Journal. Read and D’Amelio are both former Pfizer executives.

The purpose of this is to facilitate the accomplishment of its objectives, which include enhancing the overall performance of the firm.

In their previous jobs, D’Amelio and Read were chief financial officers.

It is stated in the report that the hedge fund is of the opinion that Pfizer, which is currently being managed by Albert Bourla, who succeeded Read as Chief Executive Officer (CEO) in 2019, does not demonstrate the same level of mergers and acquisitions (M&A) discipline that Read did. Bourla took over for Read in 2019. Read was succeeded by Bourla in the year 2019.

Pfizer, a multinational pharmaceutical conglomerate, has made substantial investments in the acquisition of more companies that are involved in the research and development of cancer medicines.

These businesses have been acquired for billions of dollars. The biotechnology company Seagen, which was acquired by Pfizer in the previous year for a price of $43 billion, is included in this category. One of the businesses that can be classified as belonging to this category is Seagen.

In spite of the fact that the S&P 500 Index experienced a 21% increase in 2024.

No major trading occurred in Pfizer stock that year.

Due to the fact that the demand for Pfizer’s COVID-19 vaccines fell after the firm reached its pandemic peak in 2021, the share price of the corporation has decreased by over fifty percent since that time.

This drop has occurred ever since the company’s shares reached their maximum peak, which was during the time that this decline occurred. Not only have they not changed at all, but they have also remained essentially stable. This is in contrast to the S&P 500, which has gained 21% since the beginning of this year.

Recently, the corporation was forced to take a hit when it decided to recall all of the sickle cell illness medications that it had distributed all over the world.

Fears that the prescription could lead patients to experience severe agony and possibly even death were the impetus for the decision to recall the product. In spite of the fact that Pfizer’s stock is increasing by almost three percent as a result of the news that followed the company’s decision, this is the circumstance that has come about.

SOURCE: IPN

Health

New Study Reveals Drinking Soda Pop Increases the Risk of Stroke

If you drink too much soda, fruit juice and coffee, beware!

A recent report from global research indicates that excessive consumption of coffee or soda pop is associated with an increased risk of stroke, although the intake of black and green tea is correlated with a reduced risk. Excessive consumption of soda pop or coffee warrants caution!

Recent research indicates that it may substantially elevate the risk of stroke.

Consuming four cups of coffee daily elevates the risk of stroke, according to studies, although ingesting 3-4 cups of black or green tea daily typically offers protection against stroke. Additionally, consume more coffee; it may reduce your risk of mortality.

Recent findings from global research studies co-led by the University of Galway and McMaster University, alongside an international consortium of stroke researchers, indicate that soda, encompassing both sugar-sweetened and artificially sweetened variants such as diet or zero sugar, is associated with a 22 percent heightened risk of stroke. The risk escalated significantly with the consumption of two or more of these beverages daily.

Stroke Risk Fizzy Drinks and Soda Pop

The correlation between fizzy drinks consumption and stroke risk was most pronounced in Europe, the Middle East, Africa, and South America. Women exhibit the most elevated risk of stroke from bleeding (intracranial hemorrhage) associated with fruit juice beverages. Consuming over 7 cups of water daily diminishes the likelihood of stroke due to a clot.

Researchers observed that numerous items advertised as fruit juice are derived from concentrates and have added sugars and preservatives, potentially negating the advantages often associated with fresh fruit and instead elevating stroke risk.

Fruit juice beverages were associated with a 37 percent heightened risk of stroke resulting from bleeding (intracranial hemorrhage). Consuming two of these beverages daily increases the risk thrice.

Consuming over four cups of coffee daily elevates the risk of stroke by 37 percent, although lower consumption levels do not correlate with stroke risk. Conversely, tea consumption was associated with an 18-20 percent reduction in stroke risk. Additionally, consuming 3-4 cups daily of black tea, such as Breakfast and Earl Grey varieties, excluding green and herbal teas, was associated with a 29 percent reduced risk of stroke.

Consuming 3-4 cups of green tea daily was associated with a 27 percent reduction in stroke risk. Notably, the addition of milk may diminish or inhibit the advantageous effects of antioxidants present in tea. The lower risk of stroke associated with tea consumption was negated for individuals who added milk.

Disclaimer: This article is intended solely for informational reasons and should not be considered a replacement for professional medical counsel. Consistently consult your physician regarding any inquiries pertaining to a medical problem.

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Following a Diagnosis of Breast Cancer, What Else Should You Know?

(VOR News) – Even though breast cancer affects one in eight American women, receiving a diagnosis can make a woman feel isolated.

Experts in breast cancer from the American College of Physicians (ACS) advise patients on how to manage their disease so that they may better cope with this awful information.

First, the kind and stage of breast cancer dictates the course of your care.

In addition to immunotherapy and chemotherapy, there are various surgical options available for the treatment of breast cancer.

Women of African descent are disproportionately affected by triple-negative breast cancer, an extremely aggressive form of the disease that has never proven easy to treat.

According to the American Cancer Society, pembrolizumab (Keytruda), an immunotherapy, has been shown to be helpful when combined with chemotherapy and is currently the recommended course of treatment for certain combinations of triple-negative breast cancer.

In her presentation, Dr. Katharine Yao said, “It’s really important that the patient and physician discuss the patient’s preferences and values when deciding what type of treatment to pursue and that they have an honest, individualized discussion with their care team.”

She is currently responsible for developing breast cancer treatment recommendations for more than 575 hospitals and institutions nationwide in her role as chair of the American College of Surgeons’ National Accreditation Program for Breast Institutions (NAPBC).

Yao, vice chair of research at Endeavor Health NorthShore Hospitals in New York, pointed out that each decision made about a patient’s treatment plan should take her preferences and diagnosis into consideration.

She ought to think about whether she would prefer a mastectomy—a surgical procedure that involves removing the entire breast with or without reconstruction—or a lumpectomy, which involves a surgical procedure that spares part of the breast tissue.

She stated that “the breast cancer you have may be very different from the breast cancer you hear about in your neighbor, colleague, or friend” in a press release issued by the American Cancer Society (ACS).

“Consider that while discussing breast cancer with others.”

Throughout your journey, it is critical that you look after your emotional health because having breast cancer may have a detrimental impact on your mental health.

“Getting a cancer diagnosis does not mean that everything in your life stops to be normal.” Director of the Fellowship in the Diseases of the Breast program at the Winthrop P. Rockefeller Cancer Institute at the University of Arkansas and state head of the American Cancer Society Commission on Cancer for Arkansas, Dr. Daniela Ochoa She thinks adding the burden of a cancer diagnosis and treatment to all the other pressures in life may be taxing.

“Managing stress and emotional health is vital component of a treatment plan.”

Ochoa recommends clinically trained psychologists and social workers who have assisted people in coping with cancer to anyone receiving treatment. Learning coping techniques might also be facilitated by joining cancer support groups or cancer wellness initiatives.

Breast cancer specialists say your care team is crucial.

The American Cancer Society (ACS) defines comprehensive care as having support at every stage of the procedure from surgeons, oncologists, patient navigators, nurses, social workers, psychologists, and other specialists.

After receiving a breast cancer diagnosis, women should see a surgeon or medical oncologist to explore their options; nevertheless, treatment shouldn’t be discontinued after just one appointment or after surgery is over.

Additionally, you can ask trustworthy friends or family members to accompany you to appointments and aid you with research or notes. They could serve as a network of support for you.

Yao stated in his talk that “one of the most important things is that patients should search out a team they have confidence in, that they trust will have their back when they need it, and a team they feel they can get access to and that will help them when they are in need.”

SOURCE: MP