Med Cost – Medical Billing Services

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MedCost
Medical Billing Services

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The Top
Medical Billing Company

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Medcost Your Partner in Revenue Cycle Management

Are your claims being denied or rejected? Are you spending too much time dealing with insurance and trying to figure out why claims are not being paid? Our fully trained billing staff is here to help. We will sort and organize your records to have your practice running more efficiently while streamlining the process from appointment to collections. Let us help maximize your revenue while reducing your A/R aging period. Our experts will handle the process from start to finish and keep you apprised of your financials at every turn. As a leading healthcare solutions provider, Medcost specializes in optimizing revenue cycle management for a wide range of medical practices, including physicians, groups, laboratories, imaging centers, and emergency rooms. Our expertise lies in insurance billing, patient accounts receivable, denial management, coding, and credentialing.

Services

Revenue Cycle Management

Are you looking to increase your revenue, reduce expenses, improve collections, and enhance the efficiency of your medical practice? Medcost offers a comprehensive solution tailored to your specific needs. Our team of experienced professionals will handle the complexities of medical billing, allowing you to focus on providing quality patient care. Our advanced technology platform streamlines processes and maximizes revenue potential

Our Services Include:

Insurance Eligibility Verification: Ensuring accurate coverage before services are rendered.
Daily Claims Submission and Follow-up: Promptly submitting and tracking claims.
Multi-Payer Claim Processing: Handling claims with primary, secondary, and tertiary payers.
Comprehensive Claim Follow-up: Persistent pursuit of denied or unpaid claims.
Denial and Underpayment Management: Addressing denials and underpayments with timely appeals.
Daily Rejection Clearance: Efficiently addressing claim rejections.
Payment and Adjustment Posting: Accurate posting of payments and adjustments.
Patient Billing and Reminders: Handling patient billing and sending reminders.
Detailed Reporting: Providing regular reports on your practice’s financial performance.

Practice/Provider Credentialing

Many billing companies fall short in providing comprehensive enrollment services, often neglecting the critical step of enrolling providers in specific plans under each insurance and hospital affiliation. Medcost committed to offering a complete range of enrollment services to ensure your practice is equipped to maximize revenue.

Our Enrollment Services Include:

- Enrollment in Preferred Carriers: Assist in enrolling your practice with your desired insurance carriers.
- Medicare and Medicaid Enrollment: We handle Medicare (PECOS) and state-specific Medicaid enrollment for all 50 states.
- CAQH Registration and Updates: Manage your CAQH registration and ensure it’s updated monthly.
- Malpractice Carrier Application Processing: We assist with malpractice carrier application processing.
- NPI Application and Setup: Process Type 1 and 2 NPI applications and set up your practice.
- Follow-up and Resolution: Diligently follow up with insurance carriers until applications are approved and resolve any credentialing issues.
- Tracking and Reporting: We maintain a detailed record of all applications and provide weekly reports to your practice.
- Hospital Privileges: Assist with securing hospital privileges based on your provider’s specialty.
- Electronic Funds Transfer (EFT) Setup: Facilitate EFT/ACH setup with all payers within a month.
- ERA Setup: We integrate ERA (Electronic Remittance Advice) setup with your billing software.
- Hospital Affiliation: We assist with hospital affiliation based on your provider’s preferences.
Our Commitment to Your Satisfaction
Your satisfaction with our enrollment services and overall billing process is our top priority. We strive to provide exceptional service and ensure your practice receives the maximum reimbursement possible.

Specialized Medical Coding Services

Key Benefits of Partnering with Medcost

- - Specialized Coding Expertise: Benefit from the knowledge and skills of our certified coders.
  - Efficient Workflow Management: Streamline your coding processes and improve turnaround times.
  - Enhanced Compliance: Ensure accurate code assignment and adherence to industry regulations.
  - Increased Efficiency: Reduce manual errors and improve productivity with automated charge entry.
  - Proactive Documentation Support: Benefit from our integrated communication process to address documentation issues.
  - Exceptional Customer Service: Experience our commitment to providing top-notch support and education.
  Our Credentials:
  - ICD-10 & 11 Ready: We are well-versed in the latest coding guidelines.
  - HIPAA Compliant: We adhere to strict privacy and security standards.
  - Accurate Coding: Our team is dedicated to ensuring accurate code assignment.
  - Increased Cash Flow: Our services can help improve your practice’s financial performance.
  - Easy to Adopt: Our solutions are designed to integrate seamlessly into your existing workflow.
  - Dedicated Point of Contact: You’ll have a dedicated representative to assist you with your billing needs.

Appointment Reminders

Streamline your patient care with our appointment reminder system. By sending timely reminders, we help patients stay organized and arrive on time for their appointments. This not only improves patient satisfaction but also optimizes your clinic's schedule, reducing downtime and maximizing efficiency.

Data Entry

Simplify your daily routine with our comprehensive medical data entry services. Our dedicated team will handle the time-consuming task of entering EOBs, charges, and patient demographics, allowing you to focus on providing quality care. By outsourcing this task, you can reduce errors and improve efficiency.

PreAuthorization

Streamline your authorization process with our expert assistance. Our agents will handle all insurance authorization calls on your behalf, saving you valuable time. We'll ensure that all necessary documentation is prepared and submitted promptly, minimizing delays and maximizing efficiency

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Benefits Verification

Ineligible patients can significantly disrupt your cash flow and hinder your practice's efficiency. Our dedicated team proactively verifies patient eligibility, ensuring that your efforts are not wasted on ineligible claims. By streamlining this process, we help you minimize disruptions and maximize your revenue. Our dedicated virtual assistants can verify patient eligibility in real-time using platforms like Availity, Navinet, Optum, and United Healthcare, or by contacting insurance carriers directly. This allows us to determine in-network and out-of-network benefits, as well as patient copays, coinsurance, and remaining deductibles. By having this information readily available, we can accurately forecast future claims and optimize your revenue cycle management.

Navigating the Complexities of Medical Billing

In today's healthcare landscape, securing appropriate payment for medical services can be a daunting task. With rising numbers of self-pay patients and ever-changing legislative regulations, practices face increased risks of denials, revenue shortfalls, and compliance issues. Without specialized expertise to manage the billing process and ensure accurate documentation, maintaining a sustainable and profitable practice can be a significant challenge. Accurate and thorough medical coding is essential for the success of modern healthcare practices. By accurately capturing the complexity and intensity of services provided, you can maximize reimbursement and improve your practice's financial health.