AdvantEdge Offers Physician Groups Valuable Insight about Optimizing Medical Billing
Company Refreshes Cornerstone White Papers “How to Evaluate a Billing Company” and “In-house vs a Medical Billing Company”
WARREN, NJ – November 17, 2021 – AdvantEdge Healthcare Solutions (“AdvantEdge”), a leading national medical billing company with comprehensive coding, practice management and revenue cycle management services, today announced the refresh of two core white papers, “How to Evaluate a Billing Company” and “In-house vs. a Medical Billing Company.” Both have been instrumental in helping specialty physician groups improve medical billing results – and have recently been updated to reflect the latest industry trends.
Below is an overview of both white papers, as well as updates reflecting the current landscape.
- “How to Evaluate a Billing Company” – Six key factors are highlighted for physician groups and hospitals seeking medical billing services – Performance vs. Price, Reporting and Dashboards, Technology, Credentials, Compliance, and Security. In this updated version, Technology has been bolstered to explore the complexities in billing systems management and use of automated processes. Reporting and Dashboards also get added emphasis as they are key to reimbursements, customer satisfaction, and helping clients better understand their business in an actionable, proactive manner.
- Security has been emphasized with its own section due to the dramatic rise in recent cybersecurity breaches, especially in the healthcare industry. Needed safeguards are described including technical infrastructure, processes and procedures, staff training and penetration testing to protect PHI and to minimize the risk of falling victim to ransomware attacks.
- “In-house vs. Medical Billing Company” – AdvantEdge provides a comprehensive framework to compare in-house billing vs. outsourcing or co-sourcing with a medical billing company. Along with outlining the overarching factors that impact this comparison – Financial Performance, Privacy and Security, and Cost – the white paper offers a detailed Appendix that can be used to compare service fees and costs involved with both in-house departments and medical billing companies.
- In the updated version, AdvantEdge incorporates lessons from the pandemic and the subsequent labor shortage and related economics. Those factors and others have impacted the operations of in-house medical billing departments through furloughs, remote work, hiring/rehiring, retirement, etc. Also discussed is how these current challenges impact the three key factors.
Companies are investing and putting concentrated efforts into improving digital security. Learn more about the importance of partnering with a medical billing company with deep security expertise, leading-edge technology, and the resources to minimize data breaches and other cybersecurity risks. Download our “5 Medical Billing Cybersecurity Questions to Ask” business brief for more.
About AdvantEdge Healthcare Solutions
AdvantEdge, a member of the HealthPrime family of companies, is recognized as one of the top ten U.S. medical billing companies providing billing, certified coding, and practice management services to healthcare providers nationwide. Our services substantially improve decision making, maximize financial performance, streamline operations, and eliminate compliance risks for our healthcare clients. To learn more about AdvantEdge, visit our website at ahsrcmprod.wpengine.com. Follow us on Twitter at @DoctorBilling and on LinkedIn.