As we all know today the Novel Corona Virus impacts every business today but where some business is closed for a limited period of time for saving their life and stopping the spread of the virus.
In the same duration where people stayed at home, there are some people who came out to stop the effect of the virus and to safeguard people from dying.
They are Doctors and Healthcare workers who risking their life from till now. But on one side they are saving us and on the other hand, they are suffering from there finance management.
There is no doubt that they were dealing with this situation before as well but when a medical emergency going on and the situation is critical than the normal one.
Some major problems are:-
1)Shortage of time and workforce in Healthcare industry:-
Where in normal situations there all staff is present at there work station and perform there finance task on real-time bases.
But now due to the spread of the virus, only doctors and nurses are present in most of the staff and cleaners but the finance department is mostly working from home.
Thanks to the online platform and advance billing software where now they upload all the records of patients but sometimes due to slow speed of data some of the documents not get uploaded on time due to which they are not able to collect all documents on time Where in earlier days if any of the bills are pending due to any document they collect them physically by visiting the concerned department.
Now the problem arrives the data which was furnished on time in the old days, today it takes more time than before. And due to the rapid growth of the Covid19 patient workload is increasing day by day.
Due to which their bills are not prepared on time and they are not able to bill there claims to insurance on real-time bases what they were doing in earlier days.
This late submission of claims increases the chances of denial on there submitted claims. Sometimes this happens on the insurance Gateway as well and it has only one way to identify on time is timely follow-ups which are not performed on regular bases these days because of the increase in workload.
The rejection reason for these claims is Timely Filling Limit Exceeds or Incomplete Documentations. To deal with this situation Healthcare industry hires an outsourcing company or some of them do officially tie-ups with some medical billing companies.
Now, this is a very time taking process to identify the best company for this task and it requires an experienced team as well to minimize the chances of denials.
In all these medical billing companies Doctalk Solutions RCM is one as well.
Doctalk Solutions RCM is a company which is the combination of a new thinking and old experience as well this all is because it has experienced employees who are specialized in each perspective of work from Charge entry to Reimbursement of the patient and insurance account which is considered as the last process in medical billing where all accounts of insurance and patients end up with.
So you can say it is one in all service providers in the field of RCM.
2) AR Follow-ups
Every Healthcare provider has a staff in his team who keep a close watch on there submitted claims to the insurance company whose work is to call in insurance offices and helpline numbers to enquire about the status of the submitted claims.
Let me tell you this task is very important in this revenue cycle management many of the claims are rejected due to non-timely follow-ups.
These timely follow up on the claim plays an important role in revenue cycle because this makes sure that when there claim is getting paid by insurance and if there is any delay in reimbursement then why is it there and how to save them from this delay in payment situation.
According to the data approx. 75% of the claims get paid by this AR Follow Ups. But this is not as simple as is seems like.
This process takes lots of time and effort because when you call on insurance helpline no. you need to wait a lot to reach insurance representative on call bust this not happen in all claims some of the statuses of the claims are available on insurance portals and IVR as well.
Earlier this process was not taking this much time as compared to today.
Due to Covid19 Insurance companies are also facing a shortage in the workforce. To deal with this situation today they have upgraded there portals can provide information not there to guide accurately with the solutions and even some time servers are down as well due to access traffic on the site which is also the main reason for the delay in reimbursement.
3) Lack of Knowledge about updated Insurance portals :-
Today due to the increase in the workload and increasing shortage of workforce insurance companies are updating their portals from time to time and trying to make it more user friendly.
They are not doing it to make this complicated they are doing it safe there and user time as well.
After looking the situation of today it is the demand of the situation to upgrade and reduce the man efforts which we appreciate as well but as we all know up-gradation requires men power and at last, there is a men power who keep data on-site and make sure that it won’t hit by any virus and hackers.
But apart from this, we need to educate our user or business partner about the up-gradation of the portal. Nobody can directly go-to solution on the portal without proper knowledge and guidance.
This all required the experienced team to do and find the claim status on the portal as well along with proper training and surfing on the portal with ample time and in this increasing workload, it is very hard for every organization to spend time on training.
As we saw some major problems of the healthcare sector which they are facing today regarding the management of there revenue cycle but we are not here to discuss the problem here only.
We are here to provide a resolution as well.
The problem which is mentioned above is the big problems but not all.
We are sure that today every healthcare industry is thinking about how to deal with this situation and looking for some medical billing companies in the market for outsourcing there medical billing.
No doubt you all have empty of companies in the market to outsource but as the owner of healthcare company you always look for the best company and big players in this field which is good but where we do a mistake is that if that company is big we never go into the work they do and how they will treat you because they have the same workforce as it was earlier
They will appoint there some guys on your work but it doesn’t mean that they are totally appointed for your work apart from you they are handling there earlier projects as well due to which your work compromised because if the same team is performing two task for totally different practices so the chances of mistakes are increased some time.
We should always remember one thing while outsourcing our work to some big or small companies that will provide a specially dedicated team for our work? Will they respond to our queries on time?
If they are available for us on call? But in big companies, these are just commitment only which never execute on ground bases. So Doctalk Solutions RCM comes in the picture who not only promising you but also giving you a free service for one week so you can practically experience the change and growth in your financial flow.
Here they have expert team members who have done a remarkable job in there career with the earlier companies. We know it is a new name in the market but Doctalk Solutions RCM is not only a new name it is the combination of expertise and revolution in medical billing.
This team is highly skilled with knowledge in the stream of Revenue Cycle Management (RCM) Services. They have a specialized team for each part of RCM. Who possess specialization in a deferent part of RCM. Doctalk Solutions RCM is not only claiming their expertise they are also making commitment up to 94% about the quality of work and speedy processing of your claims as well.
This all they are doing in a competitive margin as well which you will not find anywhere. They are offering a there one-week free trial to every healthcare industry so they can experience a change and if they like working with they can proceed as well.