How do you increase revenue in your medical practice? Technology!
Utilizing technology to increase revenue in your medical practice
Have you taken full advantage of the internet and the computers to increase revenue in your medical practice? Simply setting up the right electronic systems can streamline the capture of important patient and payer details, reduce errors and increase revenue with online medical billing. You need to make sure that your practice takes advantage of every strategic technology that is compatible with your current IT office suite. That’s where MICI can help.
Think denials management and defense.
The strategic deployment of technology and online medical billing systems will help your practice manage the details necessary to submit accurate and complete claims. They will also help you to document in real time, the detailed patient information that you may need for future denials defense. Your practice needs to consider electronic strategies that include:
- Eligibility verification
- Pre-scrubbing of claims before submission to payers
- Workers’ Compensation, Property and Casualty e-Billing
- E-filing to secondary payers
The complexities of ICD-10 that will take effect this October are going to expand exponentially, and so will your need for streamlined workflow and revenue management solutions. The depth and types of documentation required before even processing patient claims is going to more complex, and physicians will have to be ready to add clinical perspective and input when denials occur. How do you survive all this and increase revenue in your medical practice? The right IT systems and programs are essential to optimizing your practice profitability. The new frontier of ICD-10 is going to require that you attack revenue enhancement with a multi-pronged approach combining denials management, contract compliance, coding and billing improvements, and the strategic use of technology.
MICI is a revenue cycle management company that handles the entire revenue cycle, including traditional and online medical billing and collections, for doctors across the country. MICI provides services that enable physicians to focus on practicing medicine and healing patients. At every stage of the billing cycle, MICI works to optimize claim efficiency and profitability for physicians, while advocating for patients with care and respect. When you find yourself asking, “How do I increase revenue in my medical practice?” the simple answer is MICI.
It’s a complicated world out there. We can make it simpler for you.