Category: Uncategorized

Why Outsourcing Certified Professional Coders (CPC) Can Optimize Your Medical Practice

If you’re reading this article you probably own or hold some stake in a medical practice. You may be feeling at a loss for how to best improve your efficiency and boost revenue. That fact that you’re reading this though, means you’ve come to the right place.

Lotris Medical professionals are your best resource to optimize your medical coding processes. A US-based company located in New York’s Capital region, Lotris is comprised of coders certified by the American Academy of Professional Coders (AAPC). Lotris cares about building a partnership with you based on communication and education to create ideal business processes for your practice to succeed and generate long-term, positive revenue results.

Your accounts and medical coding aren’t something that you can entrust to just anyone who opens up ICD-10 and claims they can just, “figure it out” on their own. Medical coding is a complex, multi-layer process that Lotris CPC professionals have become expert navigators of the codebooks and guidelines.

Time is of the essence with medical coding and the faster claims are forwarded over to billing, the sooner funds can be received to keep your practice up and running. While speed is important, accuracy is just as, if not more, important. If more than 10% of all your claims get denied and sent back for reevaluation you could have a serious efficiency problem on your hands.

There are 3-key-questions you need to answer to know if your medical coding is being done efficiently:

  • Is your percent of claims paid on first submission less than 90%?

  • Does it take more than 30 days for a claim to be paid?

  • Are more than 15% of your accounts receivable older than 120 days?

If you answered yes to one or more of the above, then your practice could be headed for major financial trouble in the future. As you can see, this is a task you need to be completed quickly and accurately by a company thoroughly versed in medical coding. With Lotris, you will have that.

The best coder you’re looking for is known as a CPC or Certified Professional Coder. CPC is one of the most recognized certifications for medical coders in the healthcare industry today. By investing in Certified Professional Coders (CPC) you guarantee quality, efficiency, and a higher ROI (return on investment). At Lotris Medical, our team is a staff with over 25 years of industry experience.  The owners of Lotris are also nationally certified instructors of the CPC curriculum.

You might be wondering though, what does a certification even mean? In order to be certified, coders such as ours have to demonstrate mastery of a standard body of coder knowledge i.e. all of the code sets (CPT, ICD-10-CM, HCPCS Level II). This is tested in a 150 multiple choice exam, proctored over 5 hours and 40 minutes.

Lotris Is Your Resource for CPCs

By choosing to work with Lotris’ CPCs, not only are you investing in coders who are proficient in their industry but ones who have the dedication to prove their credibility by becoming certified. You can take comfort in knowing exactly what skill set our coders will have when you consult with Lotris Medical.

Another consideration is that our CPCs abide by a continued commitment to pursuing further professional development even after they’re hired. By outsourcing to Lotris, you’ll never have to worry if your coding processes have become outdated and obsolete. Our CPC stays current with medical coding changes and trends by completing 18 credits of continuing education and renewing their certification every year to maintain their credentials.

The experienced CPCs at Lotris are tried and true in both speed and accuracy with the credibility to be the most profitable to your practice. A certified professional coder is our promise of fewer errors and therefore fewer denied claims. How nice would it be to run a smoother healthcare practice where every payment could be made on time? An investment in a group of highly experienced CPCs can make a world of difference.

You can contact Lotris Medical for more information email Mmensing@lotrismedical.com or call 800-989-0781.

 

[1] Source: https://reviewob.com/improve-cash-flow-by-outsourcing-billing-coding/

[2] Source: https://medicaleconomics.modernmedicine.com/medical-economics/news/finding-right-medical-coder?page=full

The Top Health Technology Challenges Facing Today’s Hospital Manager

Technology is the central element in the modern hospital. It empowers teams to communicate during busy working schedules. It facilitates the transition of data to and from billing companies. It also supports medical teams in administering effective care to all patients who visit the facility. But the leading systems can bring their fair share of challenges to facility staff. And in this latest post, we’ll examine technology challenges in greater detail as we explore the role of technology in today’s medical care facility.

HIPAA Compliance

The latest HIPAA regulations require medical organizations to implement strict controls over data and use high-performance encryption technology to minimize the chances of a data breach. This is often difficult for smaller organizations without the technical resources or the financial capacity to manage the data storage process effectively.

Mobile Health and BYOD

Mobile and BYOD (Bring Your Own Device) trends in health care have given the consumer more flexibility in how they manage their health choices and their personal data. But in communicating with their patients, care teams must implement mobile access management tools that are often costly and complex. These tools also require day-to-day management to minimize technical issues and security breaches.

Wireless Networking

While wireless networking has given teams throughout the facility a greater ability to collaborate and control data, it has also increased the openness of hospital data systems. Now, a single person with a device can walk into the hospital, access their network and try to attack their network infrastructure. This means growing organizations must implement security protocols designed to safeguard the network and all user data.

Meaningful Use

The meaningful use of EHR is now tied to Medicare reimbursement levels, and organizations unable to prove meaningful use based on the latest standards face reduced reimbursement. The challenge for care teams is implementing electronic records while safeguarding data and supporting patient access. This is a problem for many organizations throughout the industry, as data sharing provisions are enacted to help support the dissemination of health information, while the onus remains on the care provider to manage data security.

Engagement with Patients on Technical Challenges

Engagement with patients is required to ensure they understand the value of security in the modern healthcare marketplace. With patients entrusted in storing their health records on smartphone applications and other devices, patients are now an important stakeholder. Applications enable patients to track their health objectives, but without the optimal security protocols in place, their data remains at risk.

By knowing more on the technology challenges facing healthcare providers, teams can take a proactive role in mitigating these challenges and empowering the effective and secure use of the latest systems. To learn more about the challenges and opportunities relating to the latest healthcare technology, call our experts directly today.

 

 

How Outsourcing Can Safeguard a Hospital’s Financial Future

With Medicare cutbacks impacting hospitals around the country, and changes in the way organizations are being reimbursed for medical services, it’s increasingly important for administrative teams to consolidate expenditure. Now, hospital leaders are considering outsourcing options as they look to expand their teams and compete more effectively in a challenging market. In this latest post, our experts take a closer look at the outsourcing process and the benefits it can bring to a hospital’s bottom line in the short and long-term.

Mitigate Long-Term Expenditure

A growing portion of the average hospital’s operating budget is allocated to training costs. Staff require training on the latest procedures in billing and coding to limit mistakes that can be costly to the organization. By outsourcing their billing and coding work to specialists in the industry, hospital leaders eliminate the need to dedicate resources to training staff. This ensures in-house teams can focus on their care expertise rather than spending time on complex IT work.

The outsourcing process also allows small organizations to achieve economies of scale, upgrading their billing and risk mitigation practices without having to make a similar level of investment in the company and their team. It’s a process that allows for faster growth in a quick timeframe.

Improve the Reputation of the Hospital through Superior Quality of Care

By outsourcing important functions of their organization to specialists, hospital leaders can deliver superior quality of care to their patients. This is ideal for organizations struggling with limited resources as it means they can allocate their resources more effectively, to ensure they’re focusing primarily on patient outcomes. By delivering a higher level of patient experience, teams can then improve the reputation of the care provider in the local marketplace. This will help bolster the company’s financial standing through improved industry ratings and increased industry recognition.

Limit the Costs of On-Site Infrastructure

One of the common costs for hospitals maintaining an onsite infrastructure for their billing systems is their server expenditure. Maintaining and securing this system is a day-to-day process that can cost thousands of dollars over the course of a year. By outsourcing their medical billing services, companies have no need for this type of infrastructure. They can ensure their patients’ data is secured by a professional billing company who have the resources and the expertise to store information securely while ensuring the data is available as required by the hospital team.

Reduce Staff Time Spent on Billing Enquiries

A large number of calls to hospital administration teams relate to billing questions. Patients and their families require up-to-date information on their billing and having an in-house staff responsible for the billing process means hospital leaders must employ a large number of customer service representatives. It’s why many are now simply choosing to outsource their billing procedures, and give patients access to qualified billing experts who can then spend the time required to analyze their bills and answer their questions with precision.

Outsourcing is keeping modern medical care providers competitive with their counterparts in the industry. It’s a process that reduces costs, improves services, and drives team productivity across the organizational infrastructure. To discuss billing procedures with an expert, call our team today.