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Results-Driven Hospital Billing Company
< 30
Days in AR
10-15%
Revenue Increase
97%
First Pass Ratio
96%
Collection Ratios
98%
Clean Claims Rate
Hospital Billing Services We Offer
Save money on salaries, training, and supplies by outsourcing! The shortage of skilled administrative staff and the rising inflation have severely impacted the healthcare industry. Many hospitals invest a lot of time and money to maintain an efficient in-house billing department. But why spend so much on staffing when you can join other successful practices in decreasing your billing-related costs by nearly 17% through outsourcing?
Mindlox guarantees remarkable savings while providing the best quality hospital billing services. We use streamlined processes and systems to handle your billing. Our dedicated billing, coding, and denial management teams are trained to stay updated with the latest regulations and payer requirements. We help you with:
Common Challenges in Hospital Billing
On average, small hospitals make 30 billing mistakes each week. Did you know that coding errors alone account for 63% of the mistakes? The rest include typos, incorrect patient information, and inconsistent documentation.
Hospital billing is not a piece of cake. It is, in fact, more complicated and time-consuming than average medical practice billing primarily because hospitals have multiple departments, each offering a wide range of services. As a result, they are more prone to billing errors and face coding, coverage, and compliance issues. You can only minimize these mistakes by understanding the most common hospital billing challenges.
High Volume of Claims
Since hospitals treat numerous patients with varying insurance plans, they have to deal with large volumes of claims, thousands of claims each week, to be more specific. Each service or treatment requires a separate insurance claim, leading to overworked hospital staff, which results in billing mistakes and payment delays.
Coding Mistakes
While computer-assisted coding is gaining prominence, human coders still make up a large percentage of the hospital billing workforce. Unfortunately, most hospitals lack coding experts. Therefore, they make coding mistakes due to changing requirements, complex situations, and incorrect data entry, leading to payers denying their claims.
Compliance Issues
Hospitals must comply with numerous regulations, including HIPAA and the HITECH Act, to maintain their integrity. Moreover, insurers are increasing their demands with time, often requiring detailed documentation about a patient's condition and corresponding procedures. Hospitals find it challenging to keep up, resulting in compliance issues and payment delays.
Lack of Trained Staff
In-house billing teams should stay up-to-date with the latest coding systems, such as CPT, ICD-10, and HCPCS. They must also be familiar with technological advancements, including EHR/EMR, and be able to adapt to changes. In short, hospitals need to train their staff regularly to avoid billing errors and claim denials.
Why Choose Us for Hospital Billing Services?
Is your billing department struggling with claim rejections? Let Mindlox recover what is rightfully yours! While coding and documentation may seem manageable for small practices, they can easily overwhelm any hospital's administrative staff. At Mindlox, we don't just manage your revenue - we improve it so you can focus on rendering quality patient care.
Our hospital billing services are designed to guarantee your desired results, from reviving your cash flow to decreasing preventable billing mistakes, including typos and incorrect patient information. Choose us if you want to transform your billing challenges into revenue-driving opportunities.
Make your hospital billing simple and profitable! With decades of experience, we address and resolve your unique billing challenges efficiently. Our experienced billing and coding experts can adapt to all changes, including regulatory and coding updates.
Stay within your budget and know exactly what you are paying for! At Mindlox, we guarantee straightforward pricing and communication. Our team keeps you in the loop at every stage of your billing process
Transform claim denials into approvals! At Mindlox, we don't neglect any opportunity. Our dedicated denial management team follows a strategic process to identify and address the root cause of your claim denials so you can receive what you deserve.
Address your specific needs with our solutions! At Mindlox, we analyze your existing financial operations to identify all the gaps and customize our services to fit your requirements. Our billing team implements the most effective and efficient practices to maximize your revenue.
We are a trusted partner of many hospitals across the nation! So, whether you run a small specialty hospital in Wisconsin or a large acute-care facility in Florida, let us help you with your hospital billing needs. We deliver customized and effective hospital billing services anywhere and everywhere in the country. Contact us to access our support.
Estimate Savings with Outsourced Billing!