Revenue cycle management for healthcare providers is different from it was before. Many compliances and rules are added in the process, making revenue management and generation complicated for the practices. Healthcare providers have to be on their toes right from the patient booking an appointment until they get complete reimbursement for the offered services.
A recent study found that more than 70% of healthcare providers struggle with their RCM process and keep juggling between operational/back-office tasks and patient care.
Mental health billing is no different from other specialties. The billing complications here are even worst. Multiple medical codes, modifiers, and documentation requirements add more obstacles to this process. Mental health billing can only be handled by experienced professionals who know every minute detail of the industry and are updated with all the latest rules.
Maintaining a team of highly experienced professionals internally is a burden for mental healthcare providers. Hence 3 out of 5 mental health providers want to outsource their mental health billing services.
Are you looking to outsource mental health medical billing services? This blog will give you end-to-end information on outsourcing mental health billing services.
What is outsourcing mental health billing services?
When a mental health practice partners with a third-party medical billing service provider that handles the complete mental health billing without interrupting their day-to-day functioning is called outsourcing. Professional mental health billers ensure the entire billing process is handled as per compliance and the practice gets the results they always wanted. Outsourcing medical billing gives mental health providers the time to provide premium care to their patients.
What are the billing processes mental health providers can outsource?
Mental health billing is not a single-step process it is an end-to-end roadway that is created right from the patient calling the practice to book the appointment, to practice getting the complete reimbursement, and post-reimbursement processes. Mental health providers can outsource the end-to-end billing process or a few sections from claims processing, payment posting, follow-up and appeals, verification of benefits, patient billing, and more. End-to-end outsourcing transfers the complete billing burden from practice so that they can focus on other essential tasks.
Outsourcing mental health billing benefits
Mental health providers get multiple benefits when they plan to outsource medical billing services. They are free from dealing with complex mental health billing tasks and save a considerable amount. Here are the top benefits healthcare providers can get:
Access to experienced and certified billing professionals
Medical billing and RCM service providers have a team of professionals with years of experience and knowledge of the healthcare industry. These professionals work rigorously and get maximum reimbursement for mental health providers. When mental health providers outsource medical billing companies, they get access to a team of these professionals and can become stress-free when it comes to billing complications.
Stay in compliant
Mental health billing providers are always in touch with all the major payers, state authorities, and other significant professionals who have a direct or indirect role in medical billing. These connections help medical billing get the latest updates on the medical billing guidelines and allows them to stay compliant. Mental health providers partnering with these professional billers never have to worry about compliance errors or rejection in payment.
Mental health providers can make the complete medical billing process hassle-free. They get an appropriate idea about their billing cycle, processes, and more. Medical billing providers give their clients all the billing information and seek prior permission for the important processes. Mental health providers have complete control over the billing without the need to handle complications.
Medical billing companies never compromise on data security and take utmost care in preventing all sensitive patient and payment information. Transparency in the billing process is one of the essential steps taken by billing service providers to improve security. Using cutting-edge technologies adds an extra layer of privacy and security to sensitive data. Mental health providers never have to worry about their data, as it is saved in a secured cloud.
Increase in revenue
Mental health practices don’t have to hire and maintain an internal billing staff which reduces a considerable cost for them. Professional mental health medical billers handle the billing process end-to-end without any errors. The claim denial percentage is near zero as all the rules and documentation requirements are strictly followed, leading to the submission of clean claims and high FPAR. The more the claims get accepted, the better the revenue for the mental health providers.
What should mental health providers check before outsourcing mental health medical billing providers?
There are multiple medical RCM companies available in the market that are capable of providing exceptional services to mental health providers. Practices must choose a service provider who can mold according to requirements and provide the services required.
A mental billing company must have certified staff experienced in handling mental health billing, be a HIPPA-compliant organization, use modern technologies to provide the billing services, and be able to give solutions to all the doubts and problems of mental health providers.
Plutus Health is the best mental health RCM service provider that can handle all the billing process end-to-end. They have a vast team of certified coders and experienced billers who strive for excellence.
With decades of experience in mental health billing, Plutus Health is known for delivering exceptional results and setting up a quality benchmark in the healthcare industry. They provide RCM services and end-to-end practice and patient management solutions as an added advantage for mental health providers. To outsource a mental health service provider, you must consider contacting Plutus Health.