Coronis Health offers experienced, courteous, and professional staff members dedicated to offering comprehensive medical billing and coding.
The primary goal of medical billing is to make sure that the doctor or hospital is paid for their service, while insurance coding is to ensure that the medical visit or procedure is submitted to the insurance company with the correct insurance code so that it can be processed properly. Coronis Health has recently grown, adding partners in a variety of specialties.
Coronis Health is a global innovator in the fields of medical billing services and revenue cycle management. We’ve brought together the best of the best in medical billing. Combined with industry-leading innovations and high-touch experience, Coronis Health delivers value to healthcare organizations of all sizes. We allow you to focus on delivering patient care while maintaining your independence and financial security.
Medical Billing Services Offered
Coronis is a full-service provider of medical billing and revenue cycle management solutions. No matter the size or scope of your healthcare organization, our billing services can help. See below for a comprehensive list of our medical billing services.
Account Management: Your dedicated US-based account manager is your main point of contact for day-to-day questions and is there for any and all of your needs. We don’t put you in a box with other clients: you receive custom care and custom solutions.
Revenue Cycle Management: Not only do we save you money by outsourcing all billing and coding, but we help you find lost revenue, close aged payments, and lower your time in AR by managing your revenue cycle. We are invested in your financial success.
Financial Analysis & Reporting: Coronis provides a detailed report that tells you everything you need to know about your business in a quickly digestible format. We don’t just tell you the numbers, we tell you why the numbers matter. There’s no funnel to get to any one of our US-based Account Managers.
Collections and Denial Management: Coronis focuses on getting you the “last dollar.” With weekly reviews of denials, an industry-leading AR service, and comprehensive insurance follow-up, we don’t rest until every last dollar owed is collected. Coronis is at the forefront of AI for AR, using Artificial Intelligence to completely revolutionize how we collect. Not only does it save money, but it will save time and learn as we go, leading to increased and groundbreaking efficiency and savings. We also call patients 7-10 days after asking if they have any questions so we can explain statements, collect accurate information, and even conduct payments right over the phone.
Verification of Eligibility: Coronis ensures patient policies cover laboratory testing. Our highly-trained medical experts understand all of the carve-outs and special circumstances, allowing you to focus on patients with the full confidence you will receive payment.
System Integration: Coronis is at the technological forefront of medical billing software. We are integrated fully with major billing software and can process and extrapolate data at a lightning pace.
Patient Access Management: From billing, scheduling, and registration to eligibility and benefit verification, Coronis can help any size facility make sure patient information is up to date.
Credentialing: We offer facility and provider credentialing for all billing clients. Because of our service, our credentialing services can be up to half the price of other companies. And because of our experience, we get credentialing done quickly and correctly so you don’t have to worry about getting paid.
EMR/Technology Integration: We are highly experienced with EMR software, so we execute the coding, and then our billing and collections team gets to work. We’re so confident in our billing and coding abilities that we are fully transparent.
Consulting: We offer consulting services for those looking to improve their RCM and reduce overhead and up collections. Whether you’re a small one-doctor practice or a doctor’s group with dozens of partners, we can help you.
Strategic Pricing: This is a process that considers market conditions, administrative input, pricing survey data, and net revenue at the departmental and procedural levels.
Group Free Scheduled Development: As a medical group, you need a more strategic pricing methodology to effectively increase your profit margin. We consider several factors, including third-party payer reimbursement and strategic pricing options and constraints.
Coding Analysis: Our consultants provide certain recommendations that will improve the charging process and increase the accuracy of ICD-9 and CPT-4 coding.
Why Outsource Your Medical Billing to Coronis Health
Many doctors are specialists. Patients choose a specialist because he or she has been trained extensively and is an expert in a certain medical field. For example, patients see a cancer specialist because the specialist is dedicated to treating cancer patients.
Many medical practices are unaware of how much outsourced professional billing services can help their business and lower their stress. We realize that outsourcing this part of the business might seem counterintuitive. However, just as a doctor’s first priority is the patient, our first priority is making your practice as profitable as possible.
Benefits of working with Coronis Health
Simply put, medical billing and coding specialists have the resources necessary to focus exclusively on your firm’s financial requirements and billing obligations, providing you with the freedom to focus exclusively on patient care, with the added peace of mind of knowing that not a single claim or payment has fallen through the cracks.
- Boost Profits – Having a team focused on billing means that the most can be made out of each insurance claim.
- Lower Administrative Costs – Having a full-time employee on your staff means that you can pay far more for internal billing than outsourcing.
- ICD-10 Coding System Updates – Mistakes will cost you! It can take time to catch up with coding changes, meaning that every mistake means missed billing and possible penalties.
- Full Revenue Cycle Management Services– Integrating medical billing into all aspects of revenue management means you can have a complete take on what billing means in your practice.
- Dedicated Claims Follow-Up and Management – It can be easy to lose track of billing and claims for insurance companies. Having an outside manager take care of these means that you can get paid on time and for every service you performed.
Common Medical Billing Errors
Medical offices are fast-paced environments and small mistakes can occur. Small errors eventually add up, however, and can cost your practice tens of thousands of dollars downstream. We’ve identified the most common medical billing errors and it is one of the many elements we check when performing a financial assessment of your practice.
With the average medical practice spending over $80,000 a year and upwards of 20 hours a week on filing and processing invoices and insurance claims forms, the billing and insurance company claims filing process can pose a significant and unnecessary strain on the average practice’s resources.
In-House or Outsource It? Top 6 Factors to Consider
It isn’t easy to decide if a medical practice should do its billing in-house, outsource it to a medical billing company, or even use a combination of the two. For more efficient physician practice management, however, making a wise choice is of the utmost importance because a sticky web of factors can conspire to drive down profit margins: confusing red tape, increasing regulations, constantly changing allowances, etc.
For doctors and surgeons wrestling with this issue, the following are six reasons that outsourcing your medical billing might be the best business idea for your practice.
#1 Gain More Control by Seeing the Bigger Picture
A common misconception about outsourced medical billing services is that the practice loses control of a crucial part of the business. Quite the contrary, actually.
When the practice frees itself from the daily minutiae of billing by partnering with a team of trusted billing specialists, the business runs better because all the focus and energy are directed at maintaining your patients’ health as well as your professional edge.
Furthermore, you also have more control of the health of the practice. You can keep an overview of the health of the practice by studying weekly, monthly, quarterly, or yearly reports instead of having to micromanage them hourly or daily.
It’s powerful when everyone works together for a mutual goal.
#2: Build Trust and Transparency
Just as it’s important that patients trust their physicians and medical staff, so, too, is it important for medical practices to trust their medical billing specialists – outsourced or otherwise. Our financial specialists at Coronis give doctors peace of mind with their transparency.
While you handle patient care, we handle the billing. However, you’re in charge, as we meet with you to determine your goals or needs. What is it you need?
- Increased patient volume?
- Expand the business?
- Collect money?
- Reverse declining revenue?
- Restructure staff?
- Think ahead to retirement.
Once we know your goals, we work with you in physician practice management to reach these goals by finding holes in your business where inefficiency is costing money. If necessary, the process will be streamlined to improve the overall procedure.
#3: Build More Efficiency to Build Higher Profitability
Because the Coronis staff is comprised of the best medical billing specialists and caters to an extensive client base, our costs are lower. Therefore, outsourcing this aspect of the business is less expensive overall than hiring a less experienced, less skilled medical billing company.
Our billing services staff has one goal: raise the profitability of your practice. We will make necessary adjustments, too, such as reviewing accounts and working with any in-house staff to increase revenue and profits.
#4: Have Solid Consistency in an Industry of Constant Change
Doctors, surgeons, and staff have enough to take care of in keeping up with advances in medicine, treatments, technology, services, patient care, etc. Medical billing is no different, but you didn’t get into medicine or open your practice to keep up with ever-mutable billing regulations. It’s a full-time job to know the following:
- New billing rules and requirements
- New, deleted, or revised billing codes
- Fee changes
- Carrier requirements
An outsourced billing service can be a strong rock of consistency in a turbulent sea of constant changes.
#5: Built-In High Reliability
What happens if the in-house billing personnel have unplanned absences? Or what if there’s a change in the staff? In-house billing renders a medical practice vulnerable to such inconsistency and instability.
With outsourced medical billing, there are no such vulnerabilities. There is no training or re-training necessary. No learning of a new system or continuously dealing with the issues of an older one. Because a team of billing specialists handles all billing needs, the practice is freed up to treat patients with the utmost medical care.
#6: See Quicker Reimbursements
Consistent cash flow is the lifeblood of the business. With an outsourced billing service, claims are submitted faster and payment is collected more quickly. Fewer errors in payment posting also result in fewer claim denials. A professional medical billing staff helps the business be more efficient with both time and money. This means the practice has more of both.
Not enough reasons? We have 13 more.
Interested in how Coronis Health can help your practice manage your revenue cycle and medical billing?
Contact the top medical billing company, Coronis Health for more information. We are leaders in reducing the cost of your practice so you can see better profits.