Different clinics/physician groups/hospitals follow a distinct approach to outsourcing. There is no one size fits all. Each unit needs to be catered to on a case by case basis. The following are the factors which influence the procurement of a medical billing outsourcing enterprise: The usage of best in class tech Counsel to increase cash flow Work towards the resolution of pending account receivables In 2015 the global medical billing outsourcing market was valued at $ 6.3 Billion. It is expected to reach $ 16 Billion by 2024.
ProMed, as a corporation operating in Outsource hospital billing services, has different departments for credentialing, coding, patient verification, claim transmission, payment posting, account receivable follow-up, patient statement and collection.
An in-house billing team bereft of a supervisor often tends to cut slack, with deliverables not being met on time, this may occur due to the lack of time. In stark contrast at ProMed, we ideate towards 48 – 72 hr TAT (globally competitive lead time) time, running feedback loops, with the goal of execution.
We aspire to keep our claim success ratio above 95 %. Furthermore, we desire to resubmit any rejected claims within 24 hours.
As a medical billing outsourcing organization, we adhere to PHI and HIPPA guidelines.
Lastly, we learn to be nimble, agile and follow an evolutionary approach in everything we do taking into account the best interests of all our stakeholders. For starters, our analytical tool can be integrated with almost all EMR applications; portability being the byword.
Best in class tech for remote patient monitoring engineered towards physician groups, clinics and hospitals, enabling them to grow in revenue, significantly broadening reach.