The Bottom Line Impact of Increased Telehealth Services

The Bottom Line Impact of Increased Telehealth Services

Extended Business Office Services Can Help Manage Medical Billing Needs

Telehealth services didn’t first begin during the COVID-19 pandemic. But they’ve become far more common and even more liked by patients, hospitals, and medical organizations.

This means great potential for your medical group’s bottom line, which brings with it a need for greater medical billing services, such as those that can be provided by an extended business office (EBO). These types of services can increase your revenue, while decreasing the burden on your in-house staff.

Telehealth services seem here to stay, so it’s important you partner with a trusted EBO medical billing company to ensure you’re maximizing your hospital’s revenue, while continuing to provide outstanding services.

Patients Like Telehealth Services

In a survey done by McKinsey & Company, they found that 76% of surveyed participants say they plan to use telehealth services going forward – even after COVID-19. Simply put, a vast majority of people like and prefer telehealth services.

Companies – any kind – that prioritize convenience and can deliver services in the way the consumer desires greatly improve their chances of long-term success. Groceries delivered to your door, curbside pickup at restaurants and stores, and, yes, medical services delivered through a phone, computer, or tablet – consumers increasingly want, and expect, these options.

In the case of medical services, if the patient is ill, elderly, disabled, or has other medical issues, traveling to a doctor’s office can be a big stress. Not only the travel itself, but then finding parking, navigating the confusing hospital layout, sitting in the waiting room for a long period, being around other potentially sick patients, etc. – all things that can make a patient just cancel the appointment altogether or never set it up in the first place.

Telehealth services can meet the patient where they’re most comfortable. These services can be more convenient, take less time, and still deliver great care.

Impact of Telehealth on Medical Organizations

For medical organizations, telehealth services can mean greater revenue, as patients who may otherwise cancel the appointment (or not make one at all) may be more likely to take advantage of this option.

It also makes it easier for medical providers to see more patients, more quickly. No need to dart around the medical practice from room to room, or building to building, to meet with patients – you can meet with them in your single office in front of your computer screen or even at home after hours. Plus, this makes it easier to cast a bigger net and offer services farther away, such as to rural areas you might otherwise not be able to reach normally.

Insurance providers are also increasingly making more and more medical codes reimbursable. Some of this was brought on by COVID-19, but this will likely only increase as telehealth services become more common even after the COVID-19 pandemic.

This means it’s a good idea for your medical office staff to be well-versed in telehealth coverage by insurance providers. Similar to how they check a patient’s insurance anytime they schedule an appointment, your office staff should also check for telehealth coverage.

Why Your Medical Organization Needs Extended Business Office Services

More patients/appointments naturally mean more medical billing needs. Your hospital or medical practice is already maxed out with office duties, such as scheduling, medical records, insurance claims, ordering supplies, and more. That’s where an extended business office (EBO) service, such as Kansas-based Assistentcy LLC , can provide much-needed help working with your patients once self-pay comes into effect.

An EBO company – sometimes also called a revenue cycle management (RCM) vendor – helps your patients understand their bill-paying options early in the medical billing process. This increases the likelihood your medical organization receives payment fully and sooner – before the case goes to medical collections.

An extended business office company like Assistentcy LLC explains a patient’s options, provides gentle reminders through phone and letter (never harassing or threatening), and helps a patient refile their claim with their insurance provider, if applicable. As more and more insurance providers reimburse for telehealth services, this means a greater likelihood these patients will owe less out of pocket than they initially thought and, thus, be able to make the payments.

Medical extended business office services can increase a hospital or medical organization’s revenue because of more patient payments rather than payments falling into delinquency and never being paid.

EBO medical billing services also decrease the financial burden and stress as compared with medical billing that is done in-house. Your office staff may not need to work as much overtime following up with delinquent patients or drafting letters or having uncomfortable discussions with patients who have fallen behind in their medical bills. The extended business office vendor will take care of that.

With the changing nature of healthcare, including the increasing prevalence of telehealth services, it’s important your medical billing be top notch. A skilled, trusted RCM vendor can improve your medical organization’s revenue integrity – the consistent values, methods, principles, and outcomes you want for your medical billing. They can increase efficiency, compliance, and help you earn maximum reimbursement.

Medical Extended Business Office Can Help with Telehealth Needs

Telehealth can increase your medical practice’s bottom line. It can also add complexity and greater nuance due to insurance coverage questions and greater medical billing needs. That’s why working with a skilled EBO provider with an emphasis on revenue integrity can provide much-needed help to streamline your medical billing and make sure you get paid. Contact Assistentcy LLC online or call today.

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