Billing Strategies
Figuring out real costs, charged costs, in-network, out-of network, service covered by insurance as routine medical maintenance, and/or deductible costs make the consumer heads’ swim. Governor of New York Cuomo administration pushes for out-of-network billing protection. He wants to create an arbitration board that would resolve out-of-network billing disputes between the provider and the insurance company. This would leave the consumer out of the conflict.
This is just one of the endless conflicts in the artificially complex world of medical billing where charges and costs have no objective relationships.
The average practice spends a huge amount of money monthly to facilitate coding and billing. Are they getting significant value for their investments?
One of tenets of running a practice is that is always taught as dogma: you have to find a good billing company to be successful. Xpress Technologies has created a billing paradigm that allows the provider the flexibility of 1. Doing their own billing in-house, 2. Let the Xpress Billing Team do the billing for you, or 3. Use your current billing company.
The dirty little secret is that billing is no longer a “magical event” but with the proper software, you can do it yourself. If the perceived stress and headaches are not worth the cost savings, the software provides the biller with the proper information to speed up processing to increase your cash flow.
