What Are Third-Party Billing Services?
Third-party billing services involve outsourcing medical billing functions to an external company that specializes in managing the entire billing process. This includes claim submission, coding, insurance verification, and payment follow-up. By outsourcing these tasks to a third party like Extended Health Services, healthcare providers can save valuable time and resources while ensuring more accurate, timely reimbursements.
Why Choose Extended Health Services for Third-Party Billing?
When it comes to third-party billing services, there are many options available, but not all billing companies provide the same level of expertise and service. At Extended Health Services, we offer tailored solutions to meet the unique needs of each healthcare provider. Here’s why we stand out from the competition:
- Expert Billing Team
Our team of certified medical billing professionals is highly skilled in third-party billing services and has extensive experience working with a wide variety of medical specialties. We stay up-to-date with the latest healthcare regulations and coding systems (such as ICD-10, CPT, and HCPCS), ensuring your practice stays compliant and your claims are processed accurately.
- Faster Reimbursement
One of the biggest challenges practices face is delayed payments. Extended Health Services ensures your claims are submitted promptly and follows up with insurance companies to resolve any issues quickly. Our streamlined processes help reduce delays, so your practice receives payments faster, improving cash flow.
- Cost Savings
Managing billing in-house requires significant investment in staff, training, and technology. By outsourcing to Extended Health Services, you eliminate the need for an in-house billing department, saving on overhead costs while benefiting from professional, efficient billing services.
- Focus on Patient Care
By outsourcing your billing functions, your team can dedicate more time to what matters most: patient care. With third-party billing services from Extended Health Services, you can reduce administrative burdens and free up resources to enhance the patient experience.
- Compliance and Risk Management
Healthcare regulations are constantly changing. Extended Health Services ensures that your practice remains compliant with the latest healthcare laws and guidelines, such as HIPAA, ICD-10, and CPT codes, helping you avoid costly fines and audit risks.
Our Third-Party Billing Services:
At Extended Health Services, we offer a comprehensive suite of third-party billing services designed to optimize your revenue cycle and streamline billing operations. Our services include:
- Claim Submission and Follow-up
We handle all aspects of claim submission, ensuring accuracy and timeliness. Our team follows up on any denied or unpaid claims, taking the necessary steps to resolve issues and secure reimbursement.
- Accurate Coding
Our certified medical coders ensure that all claims are coded correctly, using the most current ICD-10, CPT, and HCPCS codes. This helps minimize claim denials due to coding errors and ensures that your practice is reimbursed correctly.
- Denial Management
We actively monitor and manage claim denials, investigating the cause and submitting appeals or corrections as needed. Our goal is to reduce the impact of denials and recover lost revenue for your practice.
- Insurance Verification
Before services are rendered, we verify patient insurance details to ensure eligibility and avoid issues with claims submission later on. This proactive approach helps reduce the risk of claim rejections due to incorrect insurance information.
- Revenue Cycle Management
We provide full revenue cycle management (RCM) services, from patient intake to final payment. Our team monitors every step of the process, ensuring a smooth and efficient billing experience for both your practice and your patients.
Industries We Serve
Our third-party billing services are designed to meet the needs of a wide range of healthcare providers. Whether you're a private medical practice, urgent care center, dental office, or specialty clinic, Extended Health Services has the expertise to manage your billing needs effectively.
We serve industries including:
- Private Medical Practices
- Urgent Care Centers
- Dental Practices
- Physical Therapy Clinics
- Chiropractic Offices
- Mental Health Providers
- Home Health Agencies
- Hospitals and Healthcare Facilities
Why Partner with Extended Health Services?
When you choose Extended Health Services for third-party billing services, you are partnering with a company that prioritizes accuracy, efficiency, and customer satisfaction. Here’s why our clients trust us:
- Expert Team: Our team is highly trained in the latest medical billing practices and technologies.
- Customized Solutions: We tailor our billing services to meet the unique needs of your practice, ensuring a personalized approach.
- Cost-Effective: Save on operational costs by outsourcing your billing to experts.
- Compliance: We ensure your practice stays compliant with industry standards and regulations.
- Transparent Reporting: Stay informed with detailed reports on your practice’s financial performance and revenue cycle.
Get Started with Third-Party Billing Services from Extended Health Services
If you’re ready to improve your practice’s financial health and streamline your billing process, Extended Health Services is here to help. Our professional third-party billing services can optimize your revenue cycle, reduce administrative burdens, and ensure faster reimbursements.
Contact us today to learn more about how we can assist your practice with outsourced billing solutions tailored to your needs.