Medical Billing & Collections Standards
Medical Billing Services & Collections Standards
As a full-service medical billing company, CBS Medical Billing and Consulting, LLC supports your medical practice with experienced, certified coders and billers who are passionate about solving your revenue cycle related challenges.
The CBS Team sets high standards for ourselves, and we have earned our position as an industry leader, achieving results well above industry average for our clients, in support of their healthy medical practices.
Our Team’s primary objective is to accelerate your revenue cycle, to increase your bottom line. We consistently accomplish this goal by strictly adhering to our outstanding in-house-developed process of CBS Billing and Collections Standards.
CBS Billing & Collections Standards – A proven process to Streamline Medical Billing and Accelerate Collections.
The CBS Team follows this rigorous, proven process to accelerate your revenue cycle:
- All claims are billed within 24 hours
- All “clean” claims that are sent to bill are submitted to the appropriate insurance company within 24 hours of receiving the notification to bill
- Once a claim is submitted, CBS follows up on it every 15 days until the claim is paid. Each time the claim is called on or researched, the patient’s billing chart is noted. This process serves to maintain all claims in an active status.
Payment Posting Standards
All payments are posted within 24 hours of receiving notice of payment. CBS handles any and all balance billing, whether to an insurance company or a patient.
Work to Resolve any Denial or Audits
If a claim is denied, CBS researches and works with the insurer to obtain payment for the claim. CBS also manages any pre- or post-payment audits. CBS handles any and all balance billing, whether to an insurance company or a patient.
Weekly Account Review Calls
At CBS, our track record of successful medical billing and collections is the result of consistent communication in support of the health and profitability of your medical practice. We offer you a choice of monthly or bi-monthly conference calls to review your Accounts Receivable, and to address any hot topics. This consistent communication enables CBS to partner with you to address issues before they can negatively impact your business, revenue cycle, or bottom line.
Itemized Monthly Billing
Clients of CBS Medical Billing and Consulting, LLC never endure the burden of “decoding” complicated monthly invoices! CBS will send you a simple, understandable monthly invoice that outlines each patient for whom monies were received, the date of service, and the insurance company.
Billing and Coding Services – FAQ
Q1. What is medical insurance billing, and how does it work?
Medical insurance billing is the process of submitting and following up on claims with health insurance companies to receive payment for healthcare services provided to patients. This involves verifying patient insurance coverage, coding medical procedures accurately, and submitting claims to ensure timely reimbursement. Our expertise in medical insurance billing ensures a seamless process, reducing errors and accelerating payments for healthcare providers.
Q2. What is the difference between medical insurance billing and healthcare billing services?
Medical insurance billing focuses specifically on claims submission and management with insurance companies, while healthcare billing services encompass a broader range of activities. These include patient invoicing, coding, accounts receivable management, and collections. Our healthcare billing services provide end-to-end solutions, ensuring efficient financial management for healthcare practices of all sizes.
Q3. How can medical collections services improve cash flow for healthcare providers?
Medical collections services play a critical role in recovering unpaid bills, ensuring steady cash flow for healthcare providers. By managing overdue accounts professionally, we reduce the administrative burden on providers while maximizing collections. Our skilled team uses proven strategies to recover payments without compromising patient relationships, helping your practice maintain financial stability.
Q4. How do medical collections services handle unpaid patient bills?
Our medical collections services approach unpaid bills with sensitivity and professionalism. We employ tailored strategies, including follow-up calls, reminder letters, and customized payment plans, to ensure successful recovery. Our goal is to resolve outstanding accounts efficiently while preserving the trust and goodwill between healthcare providers and their patients.
Q5. What features are included in your medical billing services?
Our comprehensive services include:
- Medical insurance billing for accurate claim submissions.
- Healthcare billing services for end-to-end revenue cycle management.
- Coding and compliance with industry standards.
- Real-time claim tracking and reporting.
- Denial management and re-submission support.
Q6. What sets your medical billing services apart from others?
Our services stand out due to:
- Expertise in medical insurance billing and revenue cycle management.
- Personalized solutions tailored to your practice.
- A focus on accuracy, compliance, and timely reimbursements.
- Transparent pricing and dedicated customer support.
