Solution to the Skilled Manpower Shortage in Medical Billing and Coding
What is the solution to the Medical Billers and Coders shortage?
Facing the Challenge of Retaining
As per a recent article from The Wall Street Journal (WSJ), more and more U.S. workers are quitting their jobs than at any time in at least two decades. In April 2022, the share of U.S. workers leaving jobs was 2.7 percent, according to the Labor Department, a jump from 1.6 percent a year earlier to the highest level since at least 2000. The shift by workers into new jobs and careers is prompting employers to raise wages and offer promotions to keep hold of talent. This trend is applicable to the medical billing industry also. The pressure to find skilled employees is even more acute in industries that are growing like Medical Billing, which is expected to grow at a compound annual growth rate (CAGR) of 11.2 percent from 2021 to 2028, according to Grandview Research.
Medical practices are delaying an opportunity to expand their business due to a lack of skilled billers and coders. Derek, the mental health provider from Texas, recently had to delay an opportunity to expand his business due to staffing constraints. “I can’t just hire anyone off the street,” he said, “I need skilled billers. It’s not just about processing a claim. I need to teach the front desk properly because that is what makes or breaks my practice. I can’t add more providers unless I do a great job. My reputation is more important than growing my business. I just can’t find the manpower right now.”
Outsourcing could be an Answer
Practices coming out of the COVID-19 pandemic are struggling to hire skilled manpower to can handle medical billing. Providers who want to spend more time on patient care are unable to do due to administrative tasks of medical billing. Outsourcing medical billing and coding functions to a medical billing company could be an answer to the skilled manpower shortage. Apart from having skilled billers and coders, medical billing company offers a lot of medical practices, some of the things are listed below.
Medical Speciality wise Billers and Coders
Medical Billers and Coders (MBC) is a leading medical billing company having medical specialty-wise billers and coders. Medical billing guidelines are constantly getting updated, and procedure codes are added, deleted, or modified. These updates are quite frequent during the COVID-19 pandemic. Practices that lack an experienced billing team, tend to use a specific set of procedure codes and use it to bill all their patients. They might incorrectly use modifiers to bundle the services to receive more reimbursements. Such billing practices might attract audits from the payer side. Our billers and coders are well versed with these billing guidelines and updates. Our experience in billing private and government insurance carriers helps our clients to receive accurate insurance reimbursements.
Bundled Services
Medical Billers and Coders offers bundled services for a practice that is looking for assistance in medical billing. We provide complete billing services including charge entry, payment posting, benefits verification, AR management, denial management, provider enrollment, and credentialing. We take the required data from billing software to complete all the above-mentioned activities to help the practice get accurate insurance reimbursements. Practices get a complete picture of medical billing operations by just reviewing medical billing reports shared by us. We share insurance coverage reports with practices so that practices can collect co-payments or deductibles at the time of service only.
Affordable Pricing
We help practices to receive accurate insurance reimbursements and charge a fixed percentage on such monthly reimbursements. With our services, you don’t have to worry about manpower payroll, insurance, or training costs. You just pay us a percentage on monthly insurance collections and that’s it, all the activities required to collect accurate reimbursements are added to it. This payment system is much easier and more reliable as we assist you to receive reimbursements first then we charge against the payment collected.
In private practice and/or any healthcare business, having the right workflows can be the difference between success and failure, breaking even or making a profit. Picking the right technology for your practice to optimize your revenue cycle management is difficult and here at Trucare, we are all about helping you through that process. As an experienced medical billing and coding company, we not only handle all aspects of your medical billing process but we will help you find the right technology partners that fit your needs and help you optimize your workflows. We will show the case studies and things that are working for other clinicians like you, and keep you up to date with the ever-changing healthcare system. Connect with us to get a free Billing and Coding analysis of your practice.
About Trucare
Trucare is making healthcare more efficient, one claim at a time. We are a state-of-the-art medical billing partner, that helps your healthcare business thrive.
Why Trucare?
Focused: Dedicated Practice Management Specialists
Experienced: Experienced Revenue Cycle Management
Specialized: HIPAA Certified, Speciality Billers
Cutting Edge: Technology Driven — No BS or Redundancies
Resourceful: Always Ahead of the Compliance Curve
Affordable: No client too big or too small. Rates as low as 2.49%.
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+1 888–520–2515
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