A Quick Reference Guide to
Offshoring Your Revenue Cycle.
Offshoring revenue cycle process offers significant benefits to healthcare providers and revenue cycle management companies. While the initial focus is to get cost savings, the advantages of offshoring go beyond just cost savings.
Benefits of Offshore Medical Billing, Coding, and Accounts Receivable Management
The Right Offshore Medical Billing Partner can help improve your revenue cycle performance by focusing on improving your claims submission processes, reducing revenue leakage on account of denials, and improving the quality and effectiveness of the overall process. The Results – Accelerated cash flow, fewer denials, and improved quality.
Quality of Talent
Quality Focus
The investment in quality assurance by offshore providers means managing processes by the numbers, with impressive Service Level Agreements (SLAs) that guarantee over 95% accuracy and swift 24-48 hour turnaround times.
Flexible Contracting
Offshore medical billing services shine with their adaptable contracting options, including percentage of collections, per transaction pricing, and Full-Time Equivalent (FTE) pricing, allowing for the creation of a seamless extended business office.
Access to New Technology
Many offshore service providers, like Medical Billing Wholesalers, are at the forefront of embracing new-age technology, marking a significant leap in service quality and efficiency.
Workflow Automation
The automation of work processes end-to-end not only provides a real-time view of process performance but also simplifies the governance of an offshore workforce, opening up endless possibilities for inventory status reporting and collection efficiency.
Revenue Cycle Reporting Tools
Customized reporting is vital for both medical billing companies and healthcare providers, offering critical insights into provider-specific details such as trends in collections and clinical documentation issues.
Employee Management Tools
Offshore medical billing services foster a global team environment through innovative team member engagement tools, enhancing collaboration and efficiency across borders.
Knowledge Management
The risk of losing provider-specific knowledge and work instructions is mitigated by offshore service providers who compile process knowledge into comprehensive Standard Operating Procedures (SOPs) Manuals, thereby enhancing quality and reducing risk.
Our Unique Differentiators
A Full Suite of Services.
- Practice Management System/EMR System Setup
- Scheduling, Eligibility Verification, and Pre-Authorization
- Patient Registration
- Medical Coding
- Claims Submission – Rejection and Work Edits
- Accounts Receivable (A/R) and Denial Management
- Credit Balance Resolution and Management
- Patient Support Customer/Patient Access Solutions
Differentiated Expertise .
- Lower processing costs
- Reduced overheads
- Enhanced process performance
- Increased billing and coding accuracy
- Reduced days in A/R
- Accelerated Cash Flow
- Improved collections
- Arrested revenue leakage
- Enhanced compliance and reduced audit risk
- Fewer rejected or denied claims
- Best in Class Revenue Cycle Outcomes
- Superior Coding Quality
Hire the Experts.
- Over 10 years of industry expertise
- Structured processes for revenue cycle transition and transformation
- Proficiency in various specialties and platforms
- Real-time reporting with automated workflow, and employee performance management Tools
- ISO 27001 certified for information security
- AHIMA or AAPC certified coders
- Denial management experts with coding knowledge
- Experience with Medicare, Medicaid, Commercial payers, Managed Care, and Federal programs
Learn how offshoring your revenue cycle to MBW can enhance your business cycle.
Maximize efficiency and minimize costs by offshoring your revenue cycle management. Leverage global expertise for local success and transform your revenue processes. Partner with us and witness a remarkable financial turnaround in your bottom line.
