Understanding Third-Party Medical Billing: What, Why, and Where

  • Written by Yash Rajan
  • Monday 5th September 2022
Understanding Third-Party Medical Billing: What, Why, and Where VLMS Healthcare

Medical billing carries the utmost significance in the revenue cycle of any healthcare provider. Hence, it is necessary to have an expert team to handle your medical billing. An expert team handling insurance claims exponentially reduces the frequency of claim denials. But with the increasing burden on healthcare organizations, it is challenging to maintain a team that can look after documentation, charge entry, medical coding, claim filing, A/R management, and denial appeal. What is third-party medical billing?

Third-party companies manage your medical billing cycle for you. We at VLMS Healthcare assist you at every stage of medical billing.
By outsourcing your medical billing cycle to VLMS Healthcare, your team can focus efficiently on medical practices without worrying about claim denials and revenue loss. Our team of experts handles documentation, filing insurance claims, and appealing to denied claims. We also assist your patients regarding their doubts about their medical bills and address their queries.
Why should you outsource your medical billing to third-party organizations?
With the growing prevalence of chronic diseases and changing lifestyles due to urbanization, the burden on healthcare providers is more prominent than ever. According to the CDC (or Centers for Disease Controls and Prevention), the majority of Americans were suffering from at least one out of 10 chronic conditions (as defined by CDC). Around 129 million people were suffering from chronic diseases in the year 2018.

With the rapidly altering lifestyle, this number is increasing every year, thus increasing the burden on healthcare providers. Hence, having to entirely focus on medical billing while maintaining the quality of healthcare is highly challenging. Because of this, it is ideal to outsource your medical billing to third-party companies like VLMS Healthcare, so you can continue focusing on providing exceptional medical care.

VLMS Healthcare handles your claim filing process, follow-up of denied claims and pending payments, and your coding database.

Claim filing process
VLMS Healthcare primarily handles everything related to the claim filing. We assist in managing EHR, verifying patient eligibility and benefits, and patient interaction. We ensure that the current step of the filing process is completed without any error before moving to the next step. By taking responsibility for your billing process, we ensure that your staff is focused on providing excellent medical care.

Follow-ups on denied claims and pending payments
Denied claims are not suitable for any healthcare provider as it means a delay in getting paid. We regularly keep track of filed claims and follow up on the denied claims to ensure that the denial claims get addressed as soon as possible.

We also interact with the patients and address their queries about copayments and coinsurance. It eliminates the probability of pending payments from the patient side. Through early addressing of the patient liabilities, we make sure to maintain a healthy patient-physician relationship.

Updated coding database
We have a team of certified medical coders. Our team of medical coders stays up-to-date with the latest changes in medical codes and regulatory alterations. We assure maximum approval rate through effective communication, an updated database, and a proactive team.

Where should you outsource your medical billing?
At VLMS Healthcare. We provide the perfect ways to manage your financial and human resources. We provide you with thorough assistance in medical billing, which lets your team focus on providing medical care. We also evaluate and address the denied claims, which generally require additional attention from the team.

We ensure that your existing denied claims are cleared as soon as possible to avoid revenue delay or loss. Through patient interaction, we provide that the patient is aware of self-pay or copayments. If the discussed benefits of third-party medical billing seem interesting to you, please feel free to reach out to us.

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