Are you understaffed to efficiently run field operations while keeping up with EMS billing functions? Is dealing with billing errors lowering your revenue? If so, outsourcing your billing services might be the best solution to relieve the pressure from your staff and optimize your cash flow.
What Is EMS Billing and What Services Does It Include?
EMS billing is the process of generating claims to submit to insurance companies for the purpose of obtaining payments for services rendered.
EMS provides 24/7 patient care in the form of first-line medical or emergency care for sick and injured people at the scene, whether in the person’s home or at an accident site, and while they are being transported to the hospital for care.
EMS billing services require a fee for any kind of medical assistance provided by paramedics, ambulance agencies, etc. These charges are typically covered by insurance premiums people pay, meaning that if a patient has health insurance, the service fee for medical assistance or transportation will be billed to insurance providers.
EMS billing services include:
- Comprehensive medical billing, coding, and collection services
- Credit balances processing
- Patient payment posting
- Charge entry
- A/R management and follow-up
- Credentialing and enrollment of providers
- Insurance verification
- Denial management
- Customizable Reporting
- Post Patient And Insurance Payments
- Provide Secondary And Tertiary Insurance Billing
How Do I Know If My Facility Needs EMS Billing Services?
Outsourcing EMS medical billing services not only address any organizational issues you may have in your billing department but also has a lasting impact on your bottom line.
These are the signs that it’s time to outsource EMS billing services:
- Administrative strain – If you are seeing inconsistencies in your revenue cycle, such as issues with your accounts receivable (A/R), timely filing, or an increase in denials, you may have staff who are struggling to keep up with the demands of the work.
- Frequently delayed payments – Denied claims are the number one reason for a delay in payments, and it could be related to several factors, such as overworked or inexperienced staff, which can result in a high rate of billing or coding errors or having to constantly train new clinicians or staff.
- Diminished revenue – Compare your revenue with the industry median. If you fall below the industry average, outsourcing could be the key to optimizing your revenue.
- Struggles with compliance – New policies and regulations are constantly introduced by the Centers for Medicare and Medicaid Services (CMS) and other third-party payers, so it’s critical to ensure that medical billers and coders are consistently updated on changes that affect the billing process.
- Lower quality of patient care – A staff that is overworked and stressed may not be able to constantly deliver excellent, quality care to patients. Managing medical billing on top of their other tasks may reduce their ability to function at an optimal level.
- A decline in clean claims percentage – If your facility has a clean claims rate lower than 85%, your revenue cycle management strategy is lacking. The percentage of your clean claims rate is a reflection of the work your staff is completing, so the lower your percentage, the more time your staff is spending on reviewing denials, communicating with payers, and fixing errors before submitting a claim for the second time.
What Are the Benefits of Outsourcing EMS Billing?
These are the advantages you gain when you outsource EMS billing services:
- Lower costs – By outsourcing medical billing tasks, you can eliminate fixed expenses, such as monthly salaries, payroll taxes, and benefits to full-time employees, as well as save time and resources on recruiting, training, and managing staff.
- Fewer errors – Incorrect codes and patient data, duplicate billing, and authorization errors can be costly. Outsourcing medical billing allows you to partner with experienced, professional medical billers who utilize the most advanced EMS billing software to ensure that your claims are accurately submitted in a timely manner.
- Improved cash flow – Having a dedicated team for medical billing allows for a continuous, steady flow of clean claims going out and cash coming in. Increased efficiency – outsourcing EMS billing services will help streamline your operations and workflow. With more automated tasks, your staff can focus on their critical administrative functions and operational areas, resulting in enhanced productivity.
- Higher quality patient care – by allowing trained and experienced billers to handle all billing and coding requirements, you can free up more time to focus on patient care.
- Compliance – keeping up with the ever-changing rules and regulations in healthcare can be a source of concern for many facilities. Outsourcing EMS billing services eliminates the headache of tracking these updates because the billing team stays on top of these changes and implements them into your processes right away.
How Do I Choose an EMS Billing Service?
Here’s what to consider when selecting an EMS billing services provider:
Industry Experience and Expertise in EMS Billing
EMS billing requires a billing expert who can ensure each step is executed and managed correctly. A medical billing company with experience and expertise in EMS medical billing will have a better knowledge of your facility’s requirements for documentation, coding, compliance, and more. Failure to partner with a company that has expertise in EMS billing may result in coding inaccuracies and claim denials that make it more difficult for you to reach those bottom-line goals.
Security
Partnering with a medical billing company means trusting them with sensitive financial and patient data. Ask about their protection framework and make sure that the company will be able to handle all your data securely.
Customer Service
High-quality customer support is crucial throughout the billing partnership. You want to ensure that your medical billing company is with quality customer support and helpful resources whenever you need them, enabling you to achieve peace of mind.
Claims Submission and Follow Up
Your billing partner should use the latest electronic medical billing techniques that will help your facility prioritize follow-up tasks, reduce the days spent in A/R, and boost collections.
Transparency
Medical billing services should include 24/7 access to all financial reports, which should be clear and comprehensive, allowing you to easily keep track of your facility’s financial health and make the best decisions for your business.
Questions About EMS Billing? Contact an Expert at Coronis Health Today!
Coronis Health has extensive experience in the industry, specializing in the reimbursement and billing arena. We provide unparalleled efficiency to our customers when it comes to electronic medical billing and claims follow-up.
Our team is made up of certified coders and industry veterans with expertise in EMS billing and cutting-edge billing technology so that you can be confident in knowing that your business is in the best of hands. Outsourcing EMS billing is a great step to take toward achieving more efficient business operations and greater profitability. To learn more about how Coronis Health can help meet your specific needs and provide the best EMS billing solutions, contact us to request your free financial checkup.