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Down Syndrome in Focus : The Need for Medical Billing Services

Posted on Sep 26, 2017 in blog

Down Syndrome in Focus : The Need for Medical Billing Services

Down syndrome is the most frequent chromosomal disorder in the U.S., yet the least funded major genetic condition by the National Institutes of Health according to Global Down Syndrome Foundation. Down syndrome has become more common in recent years, and children with Down syndrome condition live longer. According to the data from Centers for Disease Control and Prevention, these are the occurrence of Down syndrome in the U.S. Down syndrome continues to be the most common chromosomal disorder. Each year, about 6,000 babies are born with Down syndrome, which is about 1 in every 700 babies born. The number of babies born with Down syndrome increased by about 30% between the years 1979 and 2003. Older mothers are more likely to have a baby affected by Down syndrome than younger mothers. Which means the prevalence of Down syndrome increases as the mother’s age increases. The number of pregnancies affected by Down syndrome is compared to the total number of live births, this is how to estimate the prevalence of Down syndrome. Life Expectancy of Down Syndrome Between the years 1960 and 2007, the life expectancy of people with Down syndrome increased dramatically. In comparison, For the year 1960, on average, persons with Down syndrome lived to be about 10 years old. On average in 2007, persons with Down syndrome lived to be about 47 years old. Health Care Issues of Down Syndrome The average medical care costs were 12 times higher for children with Down syndrome compared to children of the same age without Down syndrome for the age bracket of 0-4 years with private insurance. This is not surprising since extra care should be provided for people with Down syndrome. People with Down syndrome are significantly vulnerable to certain medical conditions like: congenital heart defects sleep apnea Alzheimer’s disease It is also accounted that there is a high risk of having autism, childhood leukemia, celiac disease and seizures. MEDICAL PRACTITIONER’S CONCERN This is when as a medical practitioner co-work with other medical practitioners in providing good and adequate service to the patient. As the life expectancy of a person with Down syndrome increases, healthcare needs of this person may vary as his/her age increases. Simply put, provided that people who are suffering from Down syndrome have a private insurance company that sustains their needs and cares for their healthcare, different medical practitioners may attend to the patient according to other medical condition the patient has. To eliminate the confusion and proper accounting and billing for the patient’s care provider, medical billing services will provide the best service for this scenario. As expected, patients with Down syndrome will have frequent visits to the doctor most especially if they suffer from other medical conditions so the frequent visits can be accounted accurately thus, the medical practitioner can focus on his...

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5 Medical Billing Challenges Health Providers Face

Posted on Aug 10, 2017 in blog

5 Medical Billing Challenges Health Providers Face

The competition is fierce and and trust is fragile, which is why a lot of health providers urgently need an effective medical billing service that will work for them and not against them. Sometimes, the medical billing agency does work against them, and few of these reasons include: 1. Not Getting Paid This painstaking problem happens when there are rejected claims or denials that come your way because of erroneous encoding by a staff or accepted insurance policies that are not supported by your organization. This is the number one problem that health providers face and it can be minimized by knowing the medical billing process inside out and having a trusted medical billing agency safeguard and keep your electronic records at all times. 2. System Crashes This problem arises when your organization’s server does not match the technical requirements of your outsourced medical billing agency. The challenge could also be that the system is outdated or attacked by some cyber security hacker. This posts a great threat to your industry which is why you need to choose a medical billing agency that knows how to counter these kinds of attacks and has a backup system for all your medical records. 3. Outdated Coding A simple update can go a long way; medical billing software and hardware like Electronic Health Record (EHR) needs a cloud-based system that has all the features at the convenience of the user. These are one of the ways you can prevent cyber attackers from tapping into your server as well. An up-to-date coding also speeds up the process of acquiring claims and lessens denials. 4. Approving Unauthorized Procedures This wrong approach could lead to more profit loss; it’s important for your staff to distinguish medical billing services supported and not supported by your organization in order to protect your reputation as a healthcare provider. One way to prevent this is having a medical billing agency that trains your staff effectively in handling medical billing procedures. 5. Unrecovered Backup Files Need I say more? Backup files are a must, and you have to find an agency with software that automatically syncs and updates your files all in one safe backup server. Take note of these challenges and find a medical billing company that can overcome these problems. Get a free analysis of your medical billing status and find great service that will match your current practice as a healthcare provider with our proven system that will improve your organization’s cash flow. Contact QuestNS today at (888)...

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How To Determine Medical Billing Scams

Posted on Jul 20, 2017 in Uncategorized

How To Determine Medical Billing Scams

Medical billing services is budding around the the world. A lot of medical organizations are inclined to outsourcing medical billing agencies to maximize their financial health and give the best service to their patients. However, the onset of a lot of these opportunities doesn’t always mean they can do a job well done for you. It’s important to be fully aware and knowledgeable of medical billing scams that may put your practice in jeopardy. Some signals that determine if a medical billing service is a scam are: 1. The Medical Billing Services Provider Has No Medical Billing Compliances If you see that the agency doesn’t have legal compliances like HIPAA and HCPCS, you won’t expect them to follow mandated medical billing standards. 2. The Provider Has No Physical Address or Works Online. It would take you years to become a certified medical biller, and this kind of business needs an expert that can understand medical terminologies and be able to give out e-prescriptions which is why they work as an agency, and must have a physical address to comply to state laws and other healthcare organization requirements. 3. Non-disclosure of Reports or Billing Process If there is a non-disclosure of reports or a very broad explanation of the medical billing service process, then there’s a big chance that the agency is up to no good. 4. Unreasonable Charging Over-the-top charges happen for a reason, but when a medical billing agency adds hidden charges that have not been discussed or is too good to be true, better be safe and quit the transaction before you sign the contract. 5. Absence of Certified Staff or Representatives Qualified medical billing staff are not only known for their degrees, but their ability to handle technical errors in a professional manner. Ensure that the agency you choose are certified and well-trained staff that can be able to educate and troubleshoot problems occurring from the EHR or EMR. Indicators that the medical billing service provided is a scam may include one or more of these signals. Always validate your medical billing service provider by checking them from a list of certified medical billers to avoid putting your practice in much trouble. This serious problem can deeply affect the reputation of your organization if you are unaware. Tell other groups or individuals with a medical practice by sharing this blog to...

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Top Qualities to Look For in a Medical Billing Services Company

Posted on Jun 20, 2017 in blog

Top Qualities to Look For in a Medical Billing Services Company

Choosing a medical billing services company can be tricky especially if you’re pressed for time and need to file claims from insurance companies immediately. Whether you are a small, large or independent medical provider, you need a credible and efficient medical services company to take care of your medical billing services and ensure a high volume of claims. With so many offshore medical billing services companies offering lower costs on labor, you can save up on expenses, but you also need to determine their strengths and limits when it comes to managing transactions with your office staff and with partner insurance companies. Get the right fit when it comes to choosing a medical billing partner by spotting these 5 qualities in a medical billing services company: 1. They are Experts When It Comes To Your Practice A medical billing services company is not just knowledgeable about handling administrative and accounting tasks like cash flow and keeping patient records, they also know what your practice is about, which means they are familiar with common medical terms and the process of diagnosis and treatment. 2. They Have Up-to-date Facilities and Equipment Resources such as Electronic Health Records (EHR) that is fully integrated with your Practice Management (PM) system. This will help minimize human error and save you time, money and resources for medical billing. It is also helpful to your patients if the company has an Optical Character Recognition Software which scans medical documents including common image formats to identify medical codes or services acquired by the patient. 3. They are Experienced and Trained Regularly Training and Development are at the forefront of every medical billing services industry. Aside from having enough number of staff to handle medical billing, they need to be updated with current medical service trends and threats related to the organization. They must have a good background and be able to keep good relationships with insurance companies and private or public entities. 4. They Communicate Regularly and Have Accurate Reports Transparency is very important in every business-to-business transaction. It can make or break your reputation as a medical provider so make sure that your medical billing services company will be able to communicate more than just progress reports, but technical issues or missing information as well. 5. They Adhere to Compliance Standards Look for medical billing services companies that are certified medical billers. They are usually accredited by associations such as the American Academy of Professional Coders (AAPC), and complies with the Health Insurance Portability and Accountability Act (HIPAA) which protects highly sensitive patient...

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How to Start Your Own Medical Billing Company

Posted on May 15, 2017 in blog

How to Start Your Own Medical Billing Company

Do you want something more out of your career? If so, you may want to consider a change. One change that you could possibly make is to start your own medical billing company. This is a dream that you can accomplish through hard work and if you work with a great franchise. Joining a franchise can help you follow your dreams in being your own boss. Here is everything that you need to know about starting your own medical billing company. Start Your Own Company For those who are considering starting their own medical billing company, there are a lot of things for you to consider. You should first be sure that you have the training so that you better understand this industry. Many companies offer training and education in medical billing as well as the medical billing software that you need to work in this field. After you do this, you should get all of the most up-to-date information from the latest and most relevant manuals to keep you knowledgeable. You should also be sure to have all of the latest coding books in case you need to look something up while the internet is down. It can also be essential to have: Medical billing software, which will better streamline your job. Get a business license Find clients Train everyone on your staff If you are creating a corporation, be sure to establish a business entity. Consider becoming a part of a franchise These are only a few of the things that you should consider when you are thinking about opening your own medical billing company. Joining a Medical Billing Services Franchise One option that you can choose is to join a part of an established franchise. This is a business model that is going to be very helpful for your business because you get the benefits of joining a company that people know while being your own boss. The truth is that breaking out into your own as an entrepreneur can be a difficult and overwhelming experience. When you become a part of a franchise, you get a business model that has been proven effective so you do not have to worry about building a company on your own. You will want to seriously consider this option if you want to free yourself of the standard job. Start Your Own Medical Billing Company Today Through the help of a franchise, you can use a pre-packaged business model to allow you to establish yourself in the medical billing industry. People are often hesitant of starting their own business because of the risk but a franchise could be the answer you have been looking for. Medical billing is such a great field for you to get into as this is a service that is highly sought out. More and more practices are realizing that an outside company is the best choice for their medical billing needs, so you can take advantage of this to help you become the entrepreneur that you have been dreaming...

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Getting Your Medical Billing Company Noticed

Posted on Apr 28, 2017 in blog

Getting Your Medical Billing Company Noticed

Every business needs to know how to market their company so that they can get noticed. A medical billing company is also very reliant on marketing. You need to get your company noticed so that you can attract the attention of local practices. This can be an exceptionally difficult task for you to do on your own as you are just starting out in the industry. Start Your Own Medical Billing Company The first thing you will need to know is how to start your own medical billing company. You could start from scratch on your own or you could become a part of an already established franchise of medical billing suppliers. Whichever way you decide to choose, you will still need to market your medical billing services to practices in the area and even beyond. Once you have decided on your plan of starting your company, you will need to get started on opening up your company. This is not something that you can do overnight. There are steps that you need to take if you are going to be successful here, such as: You will need to get training done so that you know everything about medical billing. It is also essential that any staff that will be working with the company gets proper training. This will help with the efficiency of your company. There are several different books and manuals that you want to always have on hand at your company to help operations run more smoothly. Make sure that when you get these items, you are only getting the latest ones so you can ensure that it has relevant and recent information. Having the best software on the market is really going to make a huge difference in any medical billing company. This could be the best investment that you make. Marketing Your Medical Billing Company One of the benefits of joining a franchise is that you will get automatic marketing help by being associated with a well-known medical billing company. People tend to choose companies to work with if they are more familiar with them, so a franchise gives you a competitive edge over your competition. Even still, there is a lot that can be done to market your company. Offering quality services can get you an amazing reputation that will bring in word of mouth marketing into your company. Aside from this, you can target specific ad campaigns to local practices to get the word out about your company and getting you noticed. Get Your Medical Billing Company Noticed Today Becoming a part of a franchise is going to be a huge help for your medical billing company to get on its feet. Medical billing is becoming an increasingly popular industry that practices are relying more on these days. This means that there is a market that you can tap into while you accomplish your dreams of being an entrepreneur. Through a franchise option, you will be able to take advantage of an already established name and business plan to get started on your...

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How to Choose the Business Venture That’s Right for You

Posted on Mar 21, 2017 in blog

How to Choose the Business Venture That’s Right for You

Jumping into a new business venture can be an exciting and scary prospect. All business ventures require a large amount of effort and a commitment of resources at first, so it’s important to make sure that the business you select is right for you. Taking the time to evaluate certain factors may save you headaches and uncertainties later on. Draw Upon Your Experience If you have a wealth of experience in a particular field, it’s prudent to consider opening a business in that field. If you have several different areas of expertise and are looking for a change, however, you may wish to look into a few different business opportunities. If you have knowledge, training, and expertise that could potentially be applied towards a new business, it could be about as helpful as actual field experience. Decide How Much Assistance or Freedom You Want If you want to be able to get started on a business right away with a proven model and a lot of guidance, a franchise may be right for you. If you want to have the freedom to shape the business according to your vision and change things about the business as you see fit, you may be better off starting from scratch. Knowing which you prefer can help you to avoid potential roadblocks. Review Your Goals for the Business If your business goals are as simple as walking away after a year, the business that you select and the way that you run it may look dramatically different than if your business goals include sustainability or societal betterment. Getting to the heart of what you want to be able to accomplish with your business can provide some insights and guidance. Identify Your Ideal Customer Base While your customer base may seem like something that should be figured out after you get started, identifying your ideal customer persona may actually help you to establish a niche market or better relate to your target patrons. Instead of trying to appeal to a general population, focusing your efforts on solving problems for one particular type of customer could give you a strategic advantage. Gain As Much Knowledge as Possible Even if you have years of experience in a field, brushing up on your knowledge of operations before starting a business in that field can be helpful. If you aren’t well versed on the ins and outs of the field, taking some classes and reading material about the industry in its current form can help get you up to speed. The more you know about a field, the better you’ll be able to help your customers after you start your business. Try It Before You Buy It After deciding upon the business that sounds right, it may be practical to try a position in the field before starting your own. This can be especially helpful if you haven’t worked in the field before. Making sure that you’ll actually have the ability and desire to function in this capacity every day before committing can be invaluable. If you feel like a business in the medical billing and coding field could be right for you, call 844-463-3245...

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Perform Due Diligence before Starting a Business

Posted on Feb 23, 2017 in blog

Perform Due Diligence before Starting a Business

When you’re looking into buying a business, the process of examining the business and conducting research is called performing due diligence. Due diligence is critical for any business, whether you will be starting from scratch or taking over an established business. The following steps should always be included in due diligence, but the list is not exhaustive – some businesses may require additional steps.   Evaluate Finances If you will be taking over an established business or starting with a franchise, evaluating finances may be as simple as reviewing historical data regarding revenues, liabilities, and profit or loss. If you are starting a business from scratch, it may be a little trickier to obtain financial data. You will have to review comparable businesses in the area and extrapolate a little based on expectations. Since you will be purchasing the business and any needed assets, you will start at a loss and have to generate revenues to break even, even if the business was considered profitable before you took over. As part of your financial evaluation, estimate how long it will take to break even and begin making a profit to determine whether the business will be financially feasible based on the amount of capital you are starting with. Carefully Review Legal Considerations Every business has legal factors to consider. You may have to sign a lease and contract, fulfill government requirements regarding health and safety, make sure you understand applicable copyrights, trademarks, patents, or trade secret protections, and take many other actions to make sure that you’re in compliance before taking over. Missing a legal consideration could be devastating, so consult experts as needed for this part of due diligence. Understand Tangible Business Needs Pretty much every business needs at least some tangible assets. Even businesses that operate strictly online will require the business owner and any employees to acquire computers and online access of some sort. Figure out what kind of overhead will be needed and where any assets or inventory will be stored. Decide Whether Employees Will Be Needed Hiring employees adds a dimension of complexity to a business. Not every business needs employees, so it may be worth it to consider simply running the business solo or with a partner. There may also be the option to hire private contractors to perform some business needs, depending on the structure of the business. Conduct Research into Customer Base Understanding the target customers or clients can help you understand how to optimize marketing efforts, maximize revenues, and improve satisfaction with your brand or business. Creating a persona that details the characteristics of your average customer can help you to better understand their pain points and position your business to address those points in a way that makes you more valuable to your customer. Consider Daily Operations When it’s all said and done and the business is in your name, there will be tasks that need to be performed every day. Figure out whether you really want to perform those tasks and gauge your level of expertise in the industry of your choosing. Use this final step to assess whether the business truly fits with your goals, lifestyle, and values before taking the plunge and starting a new business. To find out about starting your own business and get...

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Make Sure Your Business Aligns with Your Values

Posted on Jan 25, 2017 in blog

Make Sure Your Business Aligns with Your Values

Building a business from the ground up is a tough enough task without having to build a business that goes against the grain of your personal values – not really mashing up with who you are as a person or what you want your business to stand for. And while it can be rather difficult to really understand and annunciate your personal core values before you start to dive into a new business, you will always be able to tell when your business starts to run against those values. There’s nothing more jarring than having to confront actions that just aren’t congruent with who you are or what you want your business to be. Starting from the Inside Out This is why you need to make sure that you are setting out to create a business that really works for you right now as well as a business that works for who you hope to be in the future. When you take this kind of approach you’re going to be able to establish a business that really resonates with who you are, and that’s when building a business becomes much easier and a lot more fun as well. To better help you verify that your new business efforts align with your core fundamental values, make sure that you ask yourself a couple of critical questions. What Is Most Important to You in Business and in Life? By understanding what you as a person are really all about, and what you as a business owner are most interested in, you’re going to be able to create operational protocols that really bring your values to the forefront and allow you to build a successful business that is congruent with your highest ideals. What Motivates You? It’s also important for you to recognize and understand why you are creating this business in the first place. If you’re interested in building a profit center that you can quickly selloff to build your financial future faster, you’ll have a much different approach to creating a business than someone that wants to serve the community, higher locally, and support as many of their neighbors as possible. There is no right or wrong approach to business, just as there are no right or wrong values. People build businesses for different reasons all the time, and it’s critical that you are sure that you are building yours for all of the right reasons for you! As long as you take care of that, the rest of building your business just kind of falls into...

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5 Common Characteristics Shared by Successful Business Owners

Posted on Dec 26, 2016 in blog

5 Common Characteristics Shared by Successful Business Owners

Anyone that has enough money can start a business, but only certain people will be able to sustain that business and make it successful. Since businesses exist in every field imaginable, it takes different skill sets and training to thrive. However, certain common characteristics tend to be shared by many business owners that do well, even spanning across different industries. Enthusiasm Enthusiasm for a concept, product, or service can be the boost that a business needs to get off the ground. When a business owner is enthusiastic about their business, it tends to get employees and clients or customers excited, too. If that same enthusiasm is carried through to learning more about the industry and trying to grow and prosper, the business may become successful even faster. Confidence There is a fine line between confidence and arrogance that good business owners tend to tread well. Confidence inspires trust, provides the perception of competence, and commands respect. Arrogance can be off-putting and can damage business relationships, however, so it is important to be sure that confidence does not cross over into arrogance. Resilience Pitfalls and challenges are bound to crop up in any new business. The most successful business owners take these issues in stride and don’t crumple under the pressure. Challenges often turn out to be learning opportunities that can make a business even more successful, which is how resilient business owners tend to view these situations. Financial Savvy A degree of financial savvy is required of business owners, so possessing this characteristic in advance can be helpful. Being able to create budgets, manage available funds to the maximum benefit, and save for the future can help to ensure continued business success. Being able to continuously reduce expenses and spend money wisely can really help a business to thrive. Leadership Leadership encompasses characteristics like accountability, compassion, and an ability to delegate. Business owners for whom leadership is an inherent quality will have an easier time acting as a role model to employees and making an impression on clients and potential partners. As with most characteristics, however, this trait can be cultivated if needed to ensure business success. If you possess these character traits, owning and running your own business may be the right career move for you. Call Quest NS at 844-463-3245 to find out about opportunities in the medical billing field that may be your ticket to...

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