Health
Top 5 ASC Medical Billing Companies 2023
ASC Medical Billing – Effective revenue cycle management is a cornerstone of success for Ambulatory Surgery Centers (ASCs). As these healthcare facilities face the evolving landscape of billing regulations and complex reimbursement processes, partnering with specialized ASC billing companies has become essential.
These companies possess the expertise, technology, and comprehensive solutions needed to streamline billing operations, ensure compliance, and maximize financial performance.
In this article, we present the top ASC Medical billing companies for 2023. These industry leaders have distinguished themselves through their commitment to excellence, extensive knowledge of ASC billing practices, and a track record of delivering exceptional results.
Whether it’s navigating regulatory changes, optimizing revenue streams, or enhancing overall financial efficiency, these companies stand out for their ability to meet the unique needs of ASCs.
Top 5 ASC Billing Companies in 2023
- Medcare MSO
- Fortis Medical Billing
- BillingParadise
- Clariti Health
- Nimble RCM
Medcare MSO
Medcare MSO is on top of our selection as an ASC billing services provider. The Company stands out as a leader in the industry by establishing a strong track record of success in ASC billing.
Their team of billing experts combines extensive knowledge and cutting-edge technology to optimize revenue collection for ASCs. They offer comprehensive medical billing services, including coding, claim submission, denial management, and revenue analysis. Clients praise their exceptional customer service and ability to maximize reimbursements.
Here are some Feature points that Medcare MSO provide to ASCs to grow up their revenue:
- Cutting-edge technology platform for streamlined billing processes
- Expertise in ASC billing and deep knowledge of industry regulations
- Comprehensive reporting and analytics for improved financial visibility
- Advanced coding and documentation practices for accurate claim submission
- Proven strategies for improving collections and reducing accounts receivable days
- Proven expertise in handling complex ASC billing scenarios
- Real-time access to billing data and performance metrics
- Dedicated support team available to address ASCs’ needs and inquiries
Medcare Mso was founded in 2012. The company serves their services in 48+ states in the USA, His collection rate is 90%, 70k+ claims per day, AR reduction 30% and turnaround days 7-14. The company provides medical billing and revenue cycle management services to ASCs, Physicians, Cardiologists, and 45+ specialties in the healthcare industry.
Fortis Medical Billing
Fortis Medical Billing has extensive experience reducing ASC billing compliance issues. Certified coders, former CMS auditors, and former OIG and FBI agents provide full-service medical billing. This ensures that your account managers are well-versed in ASC compliance laws, regulations, coding and billing, collection, and preauthorization.
The company audits thoroughly to prevent inaccurate payments. This should streamline coding and billing, especially in small practices that cannot afford audits. It handles complex medical billing and coding for larger healthcare practices.
Fortis medical billing claims 95% and retains 75%. The numbers are higher than other ASCs, indicating commitment. They specialize in small business solutions but also handle medium-sized claims (up to $1B revenue businesses).
The company manages ASC billing but prioritizes patients. Patient satisfaction will increase practice revenue and reputation. It can streamline billing and coding, reduce denials, save overhead, and maximize profitability and reimbursement.
Fortis also covers non-ASC medical specialties. Hospital, ambulance, HVV, and hospice/home care coding services are available. If you’re a small practice that wants to grow, Fortis’ billing specialists and coders can maximize your solutions and manage your revenue, getting insurance carriers to pay your claims.
3. BillingParadise
BillingParadise improves revenue cycle management with advanced technology. They offer medical coding and ASC billing services. This can reveal your revenue potential.
BillingParadise’s automated software ensures timely reimbursements. Daily reports should prevent delays. Their risk adjustment strategy prevents fraud.
While human error decreases, AI software errors still occur. There may be errors and claim denials because no one is double-checking the calculations.
Prices are high. However, this depends on your package and extras. They help clients and patients by covering insurance reimbursement.
Late payment complaints are rare. Since BillingParadise has a small team, it depends on client flow.
Despite occasional miscommunication, the team is efficient. Their technology and security are good, though.
4. Clariti Health
ASC medical coding company Clariti Health, among others, provides accurate estimates to avoid surprises. They use advanced technology and automation with CPT and HCPCS coding systems to get results quickly and without errors.
They have 97% client retention and 98% accuracy. They’re reliable for busy healthcare providers who don’t have time for revenue cycle management. It’s best for small ASCs with small teams.
They’re straightforward. They provide the patient’s estimate, connect them to payment options, and offer online shopping. The healthcare provider will receive a revenue report and proper accounts receivable management. It streamlines ASC billing, workflow, and generates real-time, on-demand dashboards and analytics.
Clariti Health serves hospitals, healthcare systems, diagnostic imaging, medical groups, anesthesia providers, surgery center billing, and more. They also provide CMS pricing transparency, prior authorization, and patient estimation. However, while many reviews mention timely delivery, some say this company didn’t deliver the expected results.
5. Nimble RCM
National Medical Billing Services offers ASC billing and collection services. For healthcare providers managing claim reimbursement and profitability, the company specializes in the ASC revenue cycle.
They specialize in surgery center billing and maximize cash flow and reimbursement for freestanding surgery centers.
The 2003-founded company has over two decades of experience and success. Intelligent analytics automate billing and coding, and medical expertise provides accurate estimates.
The firm hires experienced new hires regularly. Some worried that these changes would cause company instability, but each newcomer brought over 15 years of experience, resulting in a better-functioning team. Thus, many healthcare institutions using their services have seen revenue solutions improve.
ASC medical billing specialists follow The Ethical Standards of Coding and the National Correct Coding Initiative to ensure compliance. It also bills ambulatory surgery centers. HIPAA compliance helps ambulatory surgery centers focus on patients rather than billing and coding.
Most clients say National Medical Billing Services is efficient, but some say some billing experts are difficult. They also want to boost your medical center’s revenue and solve problems.
FAQs:
What factors should I consider when choosing an ASC billing company?
When selecting an ASC billing company, consider factors such as their expertise in ASC billing, their track record of success, the range of services they offer, their customer reviews and testimonials, and their ability to adapt to changing regulations and technologies.
How can ASC billing companies help maximize reimbursements?
ASC billing companies play a crucial role in maximizing reimbursements by ensuring accurate coding, thorough documentation, efficient claim submission, denial management, and revenue analysis. Their expertise and technology-driven processes help identify and resolve billing errors, leading to optimized reimbursements.
Are these ASC billing companies compliant with regulatory requirements?
Yes, the top ASC billing companies prioritize compliance with regulatory requirements. They stay updated with the latest changes in healthcare regulations and implement measures to ensure adherence, minimizing the risk of compliance-related issues.
Can ASC billing companies assist with denial management?
Absolutely. ASC billing companies have dedicated teams that specialize in denial management. They work closely with insurance providers to identify the root causes of denials, implement corrective measures, and appeal denied claims to maximize revenue collection.
How can ASC billing companies support ASCs in improving their financial performance?
ASC billing companies provide comprehensive reporting and analytics, enabling ASCs to monitor their financial performance closely. They offer insights and recommendations for optimizing revenue, reducing billing errors, and identifying areas for improvement, ultimately supporting ASCs in achieving financial success.
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