Receptionists, attendants and nurses of physicians perform many tasks for doctors in order for the doctor to focus on their main function of healing patients. As such, these helpers provide administrative assistance, such as setting appointments, performing billing services and payments. These activities can be time consuming and tedious. Physicians look for cost-effective means, such as electronic bill presentment and payment to address these tasks. In addition, HIPAA (Health Insurance Portability and Accountability Act) provides additional legal guidelines that must be complied with by physicians, healthcare companies, and other companies providing medical functions, like outsource billing services. It is intended for those who have direct patient contact or are responsible for safeguarding patient information.
The health insurance plan industry tries to ensure physicians are concentrated on their main function of caring for the patients. Other services, such as filings of medical claims are expedited efficiently and effectively. Patients are attended to quickly and with proper care because the administrative tasks of preparing invoices are handled separately. Outsource institutions are widely recognized in the industry as having the capability of providing sufficient resources, such as auditors, medical accounts receivable specialists, auditors to handle all aspects in the claims syndication. They can provide numerous services like patient billing, claim transmitting, and payment submission. In providing these services, they ensure all the work is directed towards making them HIPAA-compliant with regards to physicians. Some benefits of HIPAA compliance are proper storage and retrieval of records, secured privacy of data, health-related encoding standards, use of web based health care billing applications, electronic firewall software defense against viruses, and guidelines for accounts receivable services. In accordance to the compliance standards of HIPAA, physicians are assured of a high degree of data quality, speedy verification of insurance policies. It is advisable for physicians to use outsourcing companies who are familiar with HIPAA policies and rules.
There are two significant changes concerning standard transactions and code set. The first change will happen in January 1, 2012 with the launching of the new version of HIPAA standards, also known as 5010. The second change is expected on October 2, 2013 and will involve replacement of diagnosis codes and procedure codes. You should go to the HIPAA website for further details regarding these changes. You should also inform outsourced companies that are handling your transactions,