Together with specialized services, we offer full hospital billing services, such as the following:
The skilled medical billing professionals at GodSpeed Medical Billing offers hassle-free hospital billing services and removes expensive errors, resulting in quicker payments that satisfy the particular needs of your healthcare organization. Because of your accounts receivable, do you think your finances are outstanding?
Your financial nervous system suffers significant harm from an unorganized hospital billing process. You might consider outsourcing your hospital billing services at this time. With outsourcing, you can organize the entire billing and collection process at a fraction of the current operating costs thanks to an intelligent solution.
GodSpeed Medical Billing can assist you in keeping your expense tracking and payment procedures efficient. We have worked with hospitals and physicians for many years, and we can increase your reimbursement by more than 70%.
We offer full-service hospital revenue cycle management, medical accounts receivable, practice management, medical records, and patient engagement programs. Our team of experts will also assist you in ensuring accuracy, saving time, and collecting accounts promptly.
Services We Offer
Together with specialized services, we offer full hospital billing services, such as the following:
During this process, we will confirm that patients meet the pre-authorization or referral requirements of their patient plan and are eligible for hospital benefits under their insurance policy. We then calculate the patient's co-payment and the deductible amount. Cash flow, reimbursements, and eligibility verification services have all improved thanks to our services.
Charge entry is the primary step in the billing process that establishes the healthcare organization's payment amount. The patient's account is charged from the patient Face Sheet. Since patient demographic data entry requires extremely accurate data entry into the system, having a talented team working on it is imperative. You can get excellent and error-free patient demographic and hospital charge entry services from our hospital billing services team.
In order to confirm the services rendered and assign the proper codes, our medical billing team examines a number of sources in a patient's file, including the transcription made by the physician, reports from diagnostic tests, imaging reports, and other sources. Workflow disruption, underpayments, and ongoing claim denials can result from submitting codes incorrectly. These challenges may lead to needless claim-related burdens and intricate medical billing problems.
Keeping track of every instance of accounts receivable can be challenging and time-consuming. To reduce AR days, we aggressively pursue unpaid hospital claims. In order to make sure that rejected and underpaid claims are processed and reimbursed on schedule, our accounts receivable management team also makes sure that they are appealed as soon as possible.
Companies need to monitor claim denials because they can cause them to suffer large losses. Our hospital collections services team looks into the reasons behind the denial, fixes any mistakes, and submits the denied claims again within the allotted time frame. In the event that insufficient information results in the claim being rejected, the gaps are filled as quickly as feasible. Our hospital billing experts and analysts can help you monitor denials, identify their root causes for process improvement, and lower the overall number of denials.
The first line of defense for identifying payer issues is payment posting. Prior authorization, non-covered services, and medical necessity denials will be recognized and reassigned to the relevant team members. To make sure that all of the payment information is entered into the system, we review ERAs and the scanned EOBs (Explanation of Benefits). The information is then correctly updated into patient accounts.
A crucial phase in the revenue cycle and the process by which a doctor or other provider is connected to payers is provider credentialing. This method enables patients to pay for medical services they receive with their insurance cards while also enabling the provider to get paid for the services rendered. By implementing ERA setup, our hospital billing team expedites faster payment processing, increases referrals, minimizes revenue leakage, lowers denial rates, and recognizes provider trends.
Our multi-layered balanced approach dynamically maximizes out-of-network claim savings. Our Out of Network Negotiation team's insight effortlessly incorporates systems into existing processes to achieve a streamlined approach. We employ proprietary algorithms and extensive supplier databases to identify areas of significant costs and appropriate reimbursement. Our staff diligently works on each insurance plan claim in an effort to obtain the highest possible service reimbursement.
In the healthcare system, emergency room revenue cycle management, or RCM, is a complex and multifaceted process that starts with the patient’s appointment and concludes when the healthcare provider receives all payments.
Being one of the top emergency room RCM service providers, we can provide excellent ER coding and billing services fast by using an organized and effective billing process. The following are crucial phases in our billing process for emergency rooms:
To satisfy the unique requirements of your healthcare organization, GodSpeed provides an extensive array of Medical Billing Solutions. Working with both short-term and long-term care facilities, from standalone hospitals to healthcare systems with numerous locations and specialized programs, is something that GSMBS has demonstrated experience in.
You get access to a number of resources when you hire GodSpeed Medical Billing to handle your healthcare system billing needs. Selecting us as your medical billing and coding partner is important for several reasons, including our use of cutting-edge tools and technologies and our provision of HIPAA compliant billing services.
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