A 2004 survey of a group of physicians from the state of Massachusetts disclosed the disturbing fact that nearly half of them were utterly convinced that their incomes were not proportionate to the man-hours spent at their practices; and thus opined that other lesser professionals were able to earn more, relatively speaking.
Practice Management System/EMR
This would not surprise an expert from the field of health economics; who would be well aware of the plight of health practitioners being forcefully led away from the actual practicing of their medical skills into tasks more befitting a financial/actuarial expert. The kind of complexities that a medical billing process entails, right from the time the patient demographics needs to be entered accurately into the practice management system/EMR, followed by insurance verification/pre-approvals, medical coding of the diagnoses and levels of services, the actual claims submission or charge entry, to the tedious tasks of AR follow-up/denial management; it is too much to ask of the physicians/healthcare professionals to face, besides their professional workloads.
For some time now big hospitals and mega-clinics have had dedicated Financial Centers powered by sophisticated billing softwares to communicate with the myriad group of Insurance Companies electronically, while the small single or two-doctor practices still experience the travails faced by private practices nearly a decade ago.
Medical Billing and Collection Process
iSource has been acting as an ally for these small practices; enabling them to concentrate on their core competencies and leave the nitty-gritty’s of the medical billing and collection process to us.
The Incomparable Services
Thus, while the medical practitioner will be able to spend the majority of his valuable time in the practice of his medical skills, we at ISource, work in the background and collect from the Insurance Companies and Patients what they rightfully owe the doctors for their incomparable services.