It has been observed that millions of people are suffering from chronic pain in the US. A report from the Centers for Disease Control stated that over 50 million people in the US are suffering from chronic pain. With so much demand, why does the pain management center struggle with when it comes to revenue? The issue is that these pain management providers struggle to find the right resources to manage their billing process.  So, what is the solution for it? Today, practices are looking for a cost-effective and efficient way out, and one such solution is outsourcing. In short, you can think about hiring a pain management billing company that can take care of this process. 

These companies have dedicated experts who know how to tackle this complex billing process. The experts stay updated with all the latest regulations to make sure no claim denial occurs. Apart from that, the RCM coders also know how to streamline the prior authorization process to reduce any issues. They can also reduce the cost of the clinics in a large manner. Furthermore, they also know how to work with the right technology to speed up the claim submission process. But how do they solve these problems so efficiently that pain management providers like you no longer need to struggle with the billing front? Let’s get to the answer, then. 

Challenges Solved by the Pain Management Billing Company 

There are several reasons to hire an outsourced pain management billing company. These reasons can be improving the billing process to speed up the claim submission. So, the advantages are described below: 

Staying Updated with the Latest Regulations 

Healthcare regulations are constantly changing. It is because new diseases are coming. And as the healthcare staff always stay busy with all the healthcare operations, it becomes difficult for them to stay updated with the latest regulations. Hence, to tackle this challenge, you need the help of an outsourced pain management billing company to manage the process. Furthermore, the experts know all the complex nuances of the CPT, ICD, and HCPCS codes to make sure no claim denial occurs. They also know all the intricate details of the HIPAA law to protect patient data. 

Taking Care of the Prior Authorization Process 

Prior authorization is a very complex and time-consuming process. It is because first you need to verify a patient’s insurance eligibility to check if all the documents are there. Finally, after all these steps, you need to submit a PA request to quicken the reimbursement process. So, if you want to streamline the PA process, it can be a feasible option to outsource to an external billing team to take care of this process. 

Cost-effectiveness 

The in-house team comes with a lot of costs. It is because you need to train them and also buy office space for them. Apart from that, you also must buy expensive software, which also becomes a costly affair. So, what can you do in that case to reduce this cost? You can get the help of a pain management billing company that can take care of this process. They have dedicated experts who are previously trained. Along with that, the outsourced companies provide them with the required office space so that you don’t have to take care of this. Hence, with their help, you can not only save a large amount of money but also invest that remaining money in scaling your business. 

Using the Right Technology 

Technology is highly important to speed up the reimbursement process. It has been observed that the in-house team knows how to use the right technology. But if they focus on this, then they may not get the time to improve patient care. That’s why there’s a dire need for outsourced experts. These experts know all the complex nuances of using the right technology to quicken the reimbursement process. These experts also know how to use the electronic prior authorization process to submit claims electronically. 

How Can You Choose the Right Company for Your Clinic? 

As there are so many billing companies out there, how can you choose the right company for your clinic? So, before hiring a pain management company, check if these companies help with entering patient demographics, patient eligibility checks, coding services, billing charge entry, claims submission, AR follow-up, and rejection analysis. Moreover, ensure these companies provide affordable pricing, the highest productivity standards, dedicated assistance, and excellent testimonials. These companies don’t have any binding contracts and also provide dedicated account managers at no extra cost.  

Search for companies that can reduce your operational costs by 80% and provide the highest collection rate of 97%. The RCM experts have dedicated employees working in real-time and provide a 10% buffer resource. In addition to that, they provide robust and customized reporting and top-of-the-line infrastructure setup. They have less than 48 hours turnaround time and low service fees with no hidden costs. So, if you want to streamline your billing process, you may consider outsourcing to a pain management billing company for this matter.