LOS ANGELES, Calif. – July 18 (SEND2PRESS NEWSWIRE) — STAT Medical Consulting, Inc. (www.statmedical.net), an industry leader in comprehensive medical billing services based in Encino, California, today announced that despite the efforts of insurance companies to implement and encourage electronic claim submissions; physicians and medical groups are still inundated with paperwork, resulting in higher costs and less profit.
“Insurance companies now generate approximately 7 pieces of paper for every patient visit,” said Sharon Hollander, President of STAT Medical Consulting, Inc. “And now, as a result of HIPAA laws purportedly designed to simplify claims processing, physician’s claim nightmares will actually increase. For every patient visit and medical claim the insurance companies will now send a written confirmation, or claim acknowledgment report, which in no way guarantees payment to the provider. Insurance companies are increasing their requests for operative reports, medical records or copies of patient identification cards as a mechanism to delay paying claims, resulting in a substantial decrease in cash flow, and paper overload.”
In an effort to protect patient privacy, carriers are migrating away from the use of patient social security numbers as identification numbers, but are not keeping up with the demand for issuance of new cards to patients. Obtaining valid and accurate patient demographic data has become paramount to the provider’s ability to collect reimbursement. Furthermore, customer service has gone by the wayside, and more and more carriers are outsourcing their claims inquiries to computers and/or labor located outside the US in countries where their labor costs cannot compete with labor costs statewide.
Hollander contends that one of the only ways to remain profitable in today’s insurance paperwork blizzard is to outsource billing and receivables to companies that can offer expertise in billing and collections, as well as offer extended hours to providers. “Our billing service has had to double and triple their efforts in deal with all the time delays and trying to weed through the maze of paper to get a claim paid,” said Hollander. “There is no way that a busy solo practitioner’s office can handle in-house billing and perform comprehensive follow up in a normal business day. Whether you’re a solo practitioner, a small group or part of a larger health care delivery organization, STAT Medical Consulting, Inc. can prevent a medical practice’s cash flow from becoming a flat line!”
For more information please visit www.statmedical.net or call (818)907-STAT.
News issued by: STAT Medical Consulting, Inc.
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Original Story ID: (580) :: 2005-07-0718-002
Original Keywords: STAT Medical Consulting, Inc., medical billing services, practices, process claims, processing, accounting, electronic claim submissions, physicians, medical groups, Encino, California, Sharon Hollander, protect patient privacy, insurance paperwork, outsource billing and receivables, statmedical.net, 818-907-STAT STAT Medical Consulting, Inc.
News Source: STAT Medical Consulting, Inc.