It is no secret that Covid-19 has negatively impacted every sphere of life, from an economic and social perspective. Consequently, many businesses have closed shop while others are barely hanging by a thread. The medical fraternity has not been spared, and clearly, it has been at the thick of it all.
With medical society playing a significant role in calming Coronavirus’s storm, it is imperative for medical billing companies to go easy on medical practitioners. No matter the economic implications, there is a need to give them a conducive economic environment to continue dispensing their services during these challenging times. The Billing companies could come in handy to alleviate the financial hardships of doctors and help them refine their practice in the following ways:
Reduction of Claim Denial
Billing companies will always try by all means to cut their costs by fighting to deny claims, some of which could be valid and deserved compensation. During the Coronavirus era, denial could be a discouragement to any doctor with the prevailing economic hardships. While the practitioners have to organize their claims in the most presentable and convincing means possible, it is imperative for the billing companies to go easy on them.
Cutting Insurance Costs
In light of the pandemic and the risks attached to handling patients and, of course, the economic hardships that the world is seeing, anybody would appreciate a free pass. Insurance entities could hop in a bid to motivate the doctors and making their working conditions better by agreeing to cut insurance costs. If their policies have no provisions for this, they could agree with the doctors on bearable payment plans.
Fast Payment of Claims
Fast payment of claims is among the best ways medical billing companies can cushion doctors during the pandemic season. While telehealth might have salvaged the low patient turn up situation in medical facilities, there is a need to motivate the health workers. With the risks attached to attending to patients going up significantly, fast payment of claims would come in handy to not only motivate them but also cushion them economically.
Guarantee Good Returns
Billing companies are charged with the responsibility to get the best compensation from the insurance entities. This is the most appropriate time for billing companies to get the maximum compensation possible for the doctors. The higher payment could come in handy to cover for the reduced patient traffic.
Geographic Restriction Waivers
Medical practitioners are expected to operate within the licensed states and cannot extend their services beyond the state’s borders. Allowing doctors to work even in other states other than the ones they are licensed to operate in could come in handy to help get more patients, which could reflect positively financially.
Originating Site Restrictions Waivers
Doctors might be restricted to recognized structures to dispense their services. Wavering such restrictions and allowing them to attend to their patients at their homes or other locations could be a great move. This could grant them access to their patients locked up at home by the various states’ Covid-19 social distancing regulations. Even better, they can attend to patients from the comfort of their homes. This goes a long way to ensure they do not lose regular patients hence maintaining their source of income.
Licensing Restriction Waivers
The Centers for Medicare and Medicaid Services (CMS) should extend the temporary waiver that demands doctors to only hold licenses in the states they offer services. While they can now provide services in other states if they have equivalent licensing, the waiver timeframe should be extended to help them recover economically. It could help them acquire more patients, which could translate into more financial gains.
The Coronavirus may have sabotaged every other sector, but the medical sector needs to be at its best. Billing companies should provide the best conditions for the doctors to keep them motivated and focused on dispensing their priceless services. Make life easy for them, and life will be easy for the public health-wise.