"Finding a billing company that understands oncology was easier than I thought.
Transwise’s CEO has worked in the oncology arena for over 20 years and understands our needs."
- Alice, Cancer Center
Get more reimbursement – Faster
As a doctor you have trained for over a decade to obtain the skills to successfully practice medicine. Similarly, given the requirements for today’s billing process, it takes the specialized skill of a medical billing professions. Billing should not be something someone does to fill in the time between scheduling patients for pulling charts.
Years ago billing was a much easier process, but with the ICD 10 conversion we continue to see higher denials and rejections by the insurance carriers, which requires extensive follow up. Here are some of the key reasons to use a billing service:
Regulations change constantly so that means you need dedicated personnel assigned to receive the new process and interact with the individual payers, while constantly being trained on the new regulations.
Coding personnel have the responsibility for ensuring documentation and coding is compliant with all regulations and should be certified.
The Implementation and compliance plan can be expensive for an individual practice, but with a professional billing service the cost is reduced as it is shared.
Lack of follow up relating to unpaid claims is the biggest problem we have encountered with physician practices. Follow up is time consuming and burdensome, but must be completely quickly due to the “timely filing” requirements.
It seems that attracting and retaining competent billing personnel has become a difficult for the physician practices. According to the Society of Human Resource Management the cost to recruit hire and train a new employee is $3,500. This additional cost can be avoided by utilizing a profession billing service like TransWise.
Professional billing companies offer a less costly alternative to a practice trying to run its own internal operation
In closing, we see that physicians are working harder than ever and making less due to regulations and declining reimbursements. Why should you have the additional burden of running a costly internal billing operation when you can hire TransWise – The Medical Billing Experts!