Orthopedic Practices Choose Medicalbillersandcoders.Com’s Orthopedic Billing Solutions for Their Cash Flow Problems
Orthopedic billers at medicalbillersandcoders.com have been glad to offer their expertise as various orthopedic physicians and surgeons across US turn towards MBC to resolve their cash flow problems in today’s challenging billing scenario.
These physicians struggling with a varied mix of payers and encountering cash problems in terms of large amount of revenue left outstanding due to uncollected receivables; are now relieved to have found a solution by opting for MBC’s orthopedic billing solutions.
Identifying cash flow problems associated with orthopedic physicians & surgeons
Increasing number of Orthopedic set-ups today are facing serious cash flow issues due to confusion along with time and effort associated with dealing with a varied payer mix comprising of – Medicare, Medicaid, Private health insurance, Workers compensation and personal injury liens/lop.
The cash flow problems at orthopedic practice set-ups can additionally be attributed to–
- Increased practice costs and reduced payments
- Increased denials and AR days
- Increasing patient demands & changing technology
- Regulatory intervention and changes
Orthopedic billing experts at MBC while billing for our orthopedic clients have observed that one major problem facing orthopedic surgery centers is that “as these centers normally have only 1 billing specialist, the center inevitably faces the issue of meeting the billable target, finding a replacement, or training the person to the billing system hence resulting in major disruption to the cash flow. “
Urgency to improve cash flows now – orthopedic billing future
MBC’s billing experts are of the view that large number of orthopedic surgeons and physicians both are looking for strategic and new ways to generate working capital and improve their bottom line are turning to orthopedic billing specialists. This trend has set in particularly as they foresee an increased shortage of time with the predicted shortage and increasing demand –
- With orthopedic surgery jobs expected to grow faster than average even in 2014, BLS predicts continued growth for surgery jobs particularly in rural areas
- By 2020– 33% of today’s orthopedic surgeons & physicians are expected to retire
- Aging population will attract higher incidence of musculoskeletal conditions that occur with aging
- Rural areas could run into a problem of attracting orthopedic physicians in the face of increasing demand due to an aging population
- Uncertainty due to the upcoming healthcare reforms and its effect on reimbursement rates from Medicare
How MBC is making a difference to orthopedic surgeons & physicians?
Our orthopedic billing service manages your entire billing cycle ensuring as less as possible disruption your cash flow by looking into issues like – unpaid claims linked to a specific payer, payer denial patterns, and slow paying payers and so on. Our billing services also help our clients alleviate issues like cash flow stoppage due to staff issues as we can solely concentrate on training staff to handle large volumes of claims.
Our orthopedic partners have been able to see a growth in their cash flows as our experts constantly updated with reforms deftly deal with their varied payer mix. The following successes are proof of the great relationship and synergy we’ve developed with our clients-
- Regularly achieve monthly and annual cash collection goals
- Average MBC clients’ accounts receivable days are in the range of 18 days, mostly below the industry average
- Improved daily working capital & financial growth of the practice
- Quicker payments and increased revenue from claims
Orthopedic surgeons and physicians who have partnered with MBC for their medical billing needs are now experiencing the advantage of utilizing their time usually spent on worrying about medical billing completely invested in the enhancing patient care. According to most of them as patient interaction and practice management has taken precedence over medical billing activities their cash flow too has fallen into place.
- Posted in: Medical