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How Small Medical Practices Can Become Financially Devastated

by peter27

Many people believe that just because a person owns a medical
practice they have a lot of money. In some instances this can be
true however, many times a physician can own a medical practice
and still have very little money to show for it. This is not
because he or she is not a good physician, most often it is
because he or she lacks the skills to run the business end of
their practice efficiently.

More and more physicians are finding that using a medical
billing service actually helps them to run a more efficient
office.

A medical billing company has trained professionals that will
handle all of the billing needs from coding to submission to the
insurance companies.

Many insurance companies today have reputations of being
notorious for denying claims that have been submitted for the
most ridiculous reasons.

A busy medical practice that submits their claims on their own
is more likely to have those claims denied than if a medical
billing service was used.

If a medical practice sees fifty patients a day, then fifty
medical claim forms must be filled out and submitted. This means
that the person who fills out the claims manually must go through
the entire process fifty times a day manually and mail it to the
insurance company where it will sit in stacks of thousands of
other claims waiting to be entered into the insurance company
computers. If there is one mistake, the claim will be rejected
and sent back to the medical practice to be filled out properly.

This means that the person who fills out the medical claims will
have more work than he or she can handle. It can be very
frustrating.

Even if the claims are filled out correctly, it can take several
weeks to several months to receive a check from the insurance
company. For a small medical practice, it can be devastating if
several claims are denied at the same time.

A medical billing service takes all of the headaches and
frustration away because they handle every aspect of medical
billing. Trained professionals code the claims and submit them to
the insurance companies electronically, eliminating the process
of manually entering them at the insurance company.

Another benefit is that a medical billing company offers is that
they will follow the claim from beginning to end, making sure
that there are no problems. They also have an excellent
acceptance rate of over ninety percent.

When a claim is submitted electronically, it is either accepted
or rejected immediately. When it is accepted, a reimbursement
check is sent out within days and not weeks or months.
 
For small medical practices that rely on the insurance
reimbursement checks to operate their business, a medical billing
company is a godsend. Many think that the cost of a medical
billing company is more than they can pay; however when you look
at what you could lose, the cost is really quite reasonable.

Medical billing companies are available to everyone in the
medical industry no matter what their specialty is.

Peter Geisheker is CEO of <a target="_new"
href="http://www.geisheker.com/">The Geisheker Group marketing
firm</a>. One of the types of clients that Peter helps are <a
target="_new" href="http://www.apexmedicalbilling.com/">medical
billing services</a>

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