Healthcare Insights ranks MBW as the most reliable Medical Billing Service Provider
Medical Billing Wholesalers: Improving Healthcare Revenue Cycle Management through Innovative Solutions
Falling reimbursement rates and increasing consumerization in healthcare drive a fundamental shift in patients' demands around healthcare services. This poses significant challenges for healthcare providers to improve healthcare solutions quality and provide price transparency while maintaining a healthy revenue cycle amid fluctuating industry dynamics. Thanks to the new technologies available today, healthcare providers can balance their financial objectives and provide excellent patient care by simplifying their revenue cycle.
By leveraging technology's potential, Medical Billing Wholesalers (MBW), a leading Revenue Cycle Management (RCM) company, simplifies the financial management aspects for healthcare providers while giving them the flexibility agility to provide excellent patient care. Incorporated in 2010, the analytics-driven, technology-enabled company provides optimal medical billing, medical coding, scribing, and business analytics services to leading medical billing companies, physician practices, healthcare systems, and revenue cycle & EHR software providers in the United States. While most healthcare-BPOs can provide transactional efficiency, MBW does that along with a focus on improving collections by applying superior training processes, technology, and analytics.
"MBW was conceptualized with a vision to provide technology-enabled differentiation to our clients. Over the years, we have not only acquired competence across multiple medical specialties but have also built an array of technology solutions to support our operations," says Vinod Sankaran, the CEO at MBW.
Having a competent team of over 300 medical billers, coders, and accounts receivable professionals today operates from 6 centers across three (3) cities—New York, Chennai, and Bangalore.
Delivering a Wide Spectrum of Exemplary Services
MBW ranked as the most reliable Medical Billing Service Provider by Healthcare Insights
MBW offers end-to-end RCM, credentialing, denial management, scribing, and digital marketing services for physician practices, hospitals, and healthcare organizations. Its services include front-end revenue cycle (patient access solutions), middle-end revenue cycle (billing and coding), back-end revenue cycle (accounts receivable management), and other supporting services such as revenue cycle analytics, scribing, and provider enrollment and credentialing.
To further improve efficiency and deliver enhanced value to its customers, the company has built many technology solutions, including Robotic Process Automation solutions, Workflow and Knowledge Management solutions, and Analytics and KPI development solutions. Additionally, the company offers revenue cycle performance consulting, technology staffing services, and digital marketing services.
Standing Distinctly Apart
When asked about the differentiating strength of the company, Vinod affirms, "At MBW, we believe that the uniqueness of our services is on account of our strong operational capabilities, proven tools and technologies, trained and skilled workforce, and flexible engagement models." Besides this, the company's uniqueness comes from its ability to align its service delivery with client priorities.
"For over two(2) decades, offshore medical billing companies have provided transactional efficiency to clients in the revenue cycle space. While good at helping turnaround processes and achieve quality, the transactional efficiency does not align with client priorities of actually managing the money, i.e., improved collections and faster cash flow. At MBW, we have focused on creating an end-to-end revenue cycle services model that involves a new level of training to our workforce to shift our priority to collections and cash flow improvement," explains Vinod.
According to Vinod, this shift in focus requires a deeper understanding of their clients' healthcare services and improve the outcomes that the clients seek. Specifically, the service providers need to excel in medical coding for specific medical specialties and understand, utilize, and enhance over twenty (20) revenue cycle KPIs that define the revenue cycle's success. MBW has an efficient KPI/Dashboard tool to help its team members track and improve these KPIs. Its proprietary KPI/Dashboard takes information feeds\ from the client's revenue cycle system and develops charts that help analyze and set priorities for transforming revenue cycle outcomes.
Fostering a Values-Driven Culture
MBW's culture anchors on the core values of integrity, accountability, passion for excellence, teamwork and togetherness, and innovation. Staying true to these core values, the company works towards its purpose of being the most agile healthcare services company globally—helping clients achieve financial success as they focus on delivering high-quality patient care. Despite coming from diverse backgrounds and cultures, its employees work as one team and treat each other with dignity and respect.
"Our values unite us, provide us guidance for working with our clients and each other, and drive us towards innovating continually to help our clients grow and thrive. We work as a team and endeavor to create novel solutions driven by data & expertise. Our team gives their 100% every day towards our clients all while having a great amount of fun", adds Vinod.
Cultivating Personalized Relationships with Its Clients
MBW has focused on creating personalized client relationships built on a solid foundation of delivering high-quality services over the years. According to the company, its customers value their focus on improving collections and cash flow.
"We have created the positioning of a Trusted Advisor in their minds by continually articulating the impact we make on their revenue cycle, the actions to be taken, and the support we need from them. This honest representation of the facts creates a shared focus on achieving transformational revenue cycle outcomes. We live our values, and that's something our clients admire about us", states Vinod.
Foraying into Key Markets and Services
Keeping customers at the forefront, MBW continually improves its systems and processes to impact its clients' business outcomes significantly. The company is currently developing a revenue cycle focused automation solution set built on RPA, AI, and ML capabilities. It is also focusing on enhancing its core workflow and knowledge management engine while automating key employee management processes such as administration, communication and collaboration, training, and selection.
Moving ahead, MBW will foray into new markets and new dimensions of healthcare services. It aims to transform the medical coding and accounts receivable management processes through best practices on arresting revenue leakage through efficient medical coding and improved technology use in A/R and denial management processes. To help its hospital clients improve patient experiences and collections, the company develops a portfolio of revenue cycle services. To further enhance its capabilities, the company is looking for partnership opportunities in solution adjacencies and international markets such as the Middle East, Australia, and New Zealand.
"We have spent much time building our delivery architecture and underlying systems and processes. Our services portfolio and go-to-market approach are now ready. Now, we are investing in building our brand and market share," asserts Vinod on a concluding note.
