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The
traditional model of a private practice has been physicians
providing excellent medical care while leaving the business
details to their administrative staff.
The
modern healthcare system is more complex. Physicians
must not only demonstrate their value to patients but
also to manage care organizations, hospitals and other
healthcare consumers. Health Insurance companies have
created a system so confusing that the average physician
has to increasingly devote time, effort, and resources
merely to sustain their practices. Presently the challenge
for physicians is to provide inexpensive, high quality
care while simultaneously maintaining a profitable business.
The
primary and most easily preventable reason for delayed
and diminished cash flow in a medical practice is improper
medical billing. Physicians can expect to lose up to
15-20% of their annual revenue if proper attention is
not given to their accounts. The complications of medical
billing now require a specialist. With reduced reimbursement
rates from insurance companies and ever-changing policies,
it is now more important than ever that claims be processed
accurately the first time.
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