Healthcare companies deal with massive numbers of patient billing records every day. Inefficient or erroneous billing due to traditional manual billing systems impacts many healthcare providers, putting a strain on their revenue cycle. Revenue cycle management is harmed by delays in the accounts receivable process, claims processing, or denial of claims by the insurance company.
Medical billing has evolved a great deal with the introduction of new technologies in the healthcare industry. Data capture solutions can use machine learning and natural language processing to recognize and capture data from medical papers for accurate coding and billing.
Computer-Assisted Coding (CAC) and blockchain are two critical technologies that will substantially impact medical billing in the future. CAC increases productivity while simultaneously decreasing claim backlogs. It can assist clinicians in identifying gaps in clinical documentation and allowing them to bill patients more promptly. On the other hand, blockchain data storage in EHRs might increase privacy protections, make information exchange quicker and more efficient, and give patients more control over their personal data.
At this juncture, various medical billing companies are entering the market to cater to the different needs of enterprises. To help them choose the solution that best fits their requirement, Healthcare Business Review has compiled a list of the most promising medical billing service companies and emerging medical billing companies. Besides, the magazine also comprises insights from thought leaders on industry trends, best practices, recent innovations, and their advice for aspiring CIOs.
We present to you Healthcare Business Review’s ‘Top 10 Medical Billing Service Companies - 2021.