Medical Billing Services
Increase Revenue & Efficiency With Neolytix Medical Billing Services
Harness the power of passionate, AI-assisted teams, backed by 12 years of nationwide experience, to reduce revenue leakage, reduce costs, improve compliance, and improve patient experience.
Improvement Guaranteed!
Strengthen Your Revenue Cycle with Our Expert Medical Billing Solutions
At Neolytix, we specialize in optimizing your revenue cycle through, expert complete medical billing services. From small practices to large hospitals, we understand the intricate world of medical billing and its critical role in your healthcare organization.
Our dedicated team of experts is committed to simplifying the billing process, maximizing your revenue, and allowing you to prioritize exceptional patient care. With skilled account managers and advanced medical billing software, we streamline everything from electronic claims submission to payment follow-up, ensuring a cost-effective solution that boosts your bottom line.
Improve Your Medical Billing Process with Ease
Experience seamless and efficient medical billing services with Neolytix. Our dedicated team works hand-in-hand with your healthcare professionals to integrate our expert billing knowledge with your organization’s unique insights. This collaborative effort fosters a dynamic synergy, continuously enhancing and optimizing your billing procedures. We aim to streamline your billing operations, ensuring smoother processes and improved outcomes.
Our Services:
- Insurance Benefit Verification
- Medical Coding
- Claim Submissions & Follow-up
- Denial Management
- Accounts Receivable (A/R) Management
- Reporting & Analytics
The Key Components Within Our Comprehensive
Medical Billing and Coding Services
Revenue Leakage Analysis
- Through Coding and Benchmarking
- Error trend detection and analysis
- Immediate corrective measures implemented
- Preventive action plans for ongoing improvement
Improvements to Clean Claims %
- Diligent measuring and analyses of data
- Easily digestible reporting offered to teams
- Ongoing improvement actions taken
Detailed Service Level Agreements (SLAs)
- Charge Entry
- Payment Posting
- Denial Management
- Account Receivable Aging
Team/Process Specialization
- Teams with a focus on Specialties
- 12+ years of experience
- Scalable teams to suit healthcare organizations of different sizes
Achieve Next-Level Efficiency With Hyper Automation
- Customized Solutions: Tailored in-house automation for precise medical billing optimization.
- Automation of Repetitive Tasks: Neolytix Hyper Automation combines RPA and AI for faster, more accurate processes (e.g., claim submission, payment reconciliation)
- Reduced Manual Errors, Faster Reimbursement: Hyper Automation minimizes human errors, accelerating reimbursement cycles, improving financial health, and enhancing patient satisfaction.
- Proactive Issue Resolution: Identifies discrepancies before they escalate, reducing claim denials and delays, ensuring smoother billing processes for providers and patients.
Advance Reports & Analytics
- Custom Reports and Analytics: Leverage measurable performance data and prebuilt integrations with top EMR systems.
- Advanced Visualization: Access advanced visualization tools for creating reports and interactive dashboards.
- Stay Informed: Monitor key performance indicators relevant to your revenue cycle, enabling proactive decision-making.
- Seamless Integration: Enjoy seamless integration with EMR systems, eliminating manual data entry and ensuring data accuracy.
Transform Your Revenue Cycle: Drive Results with Medical Billing and Coding Solutions
At Neolytix, we are experts in medical billing and coding services. We focus on optimizing the entire billing process for sustained financial growth and operational excellence.Â
Featured Billing Success Story
Your healthcare organization could be next to witness the compassionate expertise of our medical billing teams — like Gemstone Wellness did.
Why Choose Neolytix Medical Billing Solutions?
Our experts are skilled at efficiently submitting claims, ensuring accurate coding, and promptly following up on accounts receivable.
Our teams have specialized knowledge in CPT and ICD-10 coding, which helps reduce the number of denied claims.
- Expertise and Accuracy: Access to specialized skills and expertise in medical billing, ensuring accurate coding and claims submission.
- Maximized Revenue: Professional billing services are adept at optimizing revenue cycles, minimizing claim denials, and ensuring timely payments.
- Saves money: No need for staff, training, or overhead for billing infrastructure.
- Efficiency and Productivity: Streamlines processes, leading to increased efficiency and productivity in the practice.
- Adherence to Compliance: Ensures compliance with constantly evolving healthcare regulations, reducing the risk of legal issues and penalties.
- Less billing errors: Uses advanced technology and skilled professionals, resulting in fewer claim rejections.
- Faster Payments: Accelerates the payment cycle by submitting claims promptly, resulting in quicker reimbursement for services rendered.
- Scalability: This allows for flexibility to meet the changing needs of the practice, whether it’s growing or seeing more patients.
Go Beyond Billing and Coding and Take Complete
Ownership of Your Revenue Cycle
each other to minimize financial losses and maximize the overall patient experience.
- Become Billable faster with expedited Licensing services
- Physician, Non-Physician, DEA, CDS, CLIA & Group Licensing.
- Fast Insurance Medical Credentialing and Provider Enrollment
- Relationships with insurers and in-depth knowledge of processes
- Investigation of rates at a granular level
- Dedicated to securing higher rates
- Fixed or Incentive-based fee structure
- Create An Industry-Best RCM Blueprint
- Empowering Revenue Intelligence
- Improved Governance And Transparency
CUSTOMER TESTIMONIALS
Neolytix makes sure what they bill is accurate. Their knowledge of physician billing is outstanding. The entire team takes control and does what is necessary to make sure you get paid."
Specialty-Specific Medical Billing and Coding Services
Neolytix is a multi-specialty medical billing services company in the USA with over 12 years of experience. We assist medical practices nationwide, including Texas, California, New York, Hawaii, and more. Our team specialize in maximizing billing claims payments in all 50 states, securing financial success for our clients.
Expanded Services for Various Specialties
In addition to our comprehensive services, we also offer specialized medical billing solutions for various medical specialties to ensure accuracy and efficiency. Our specialty-specific billing services include:
Cardiology Medical Billing Services
Accurate coding and billing for cardiology procedures and treatments to maximize reimbursements and reduce denials.Â
Chiropractic Medical Billing Services
Tailored solutions for chiropractic practices to handle unique billing challenges and improve cash flow.Â
Endocrinology Medical Billing Services
Expertise in billing for endocrine system treatments, ensuring compliance and optimal revenue recovery.Â
Gastroenterology Medical Billing Services
Specialized billing for gastroenterology procedures, enhancing claim accuracy and reducing payment delays.Â
General Surgery Medical Billing Services
Comprehensive billing services for surgical practices, focusing on precise coding and timely reimbursements.
Oncology Medical Billing Services
Specialized billing for oncology treatments, ensuring accurate claim submissions and optimal revenue.
Orthopedic Medical Billing Services
Expert billing for orthopedic services, from surgeries to physical therapy, improving financial performance.
Pathology Medical Billing Services
Efficient billing for pathology services, ensuring accurate claim processing and timely payments.Â
Pediatric Medical Billing Services
Dedicated billing solutions for pediatric practices, handling the complexities of child healthcare billing.Â
Physician Medical Billing Services
Comprehensive billing services for physicians, focusing on maximizing revenue and reducing administrative burdens.
Psychiatry Medical Billing Services
Tailored billing for psychiatric services, ensuring compliance with mental health billing regulations.
Radiology Medical Billing Services
Expert billing for radiology services, enhancing claim accuracy and accelerating payment cycles.
Urology Medical Billing Services
Specialized billing for urology practices, improving revenue cycle management and claim success rates.
EMR Medical Billing Services
Integration of billing with EMR systems, ensuring seamless data flow and accurate claim submissions.
Doctors Medical Billing Services
Comprehensive billing solutions for doctors, optimizing revenue cycles and reducing operational costs.
Frequently Asked Questions (FAQ’s)
Medical billing typically encompasses claim submission, payment posting, denial management, patient billing, and insurance follow-up. Some services may also include coding review and audit services for compliance with coding guidelines and regulations.
Building a reliable expert billing team of medical billers and coders is becoming more difficult. This is due to the ongoing labor shortage in the US.
Finding and onboarding billing staff wastes time and money. Without an expert, cohesive team, the billing process is not as secure as it should be. This leads to providers losing revenue.
In addition, poor coding practices also contribute to a loss in revenue.
Clean claims require accurate coding. Research shows that over 50% of claim denials could be attributed to coding errors.
Loss in revenue is a direct result of improper coding. Coding is always changing, and coders and billers are often too busy to keep up with the changes.
In addition, borderline-burnout physicians may experience EHR difficulties and miss relevant codes or supporting documentation. Expert coders and billers must work together to increase practice revenue. This is why the outsourced medical billing industry is growing at a rate of 12% per year.
Medical billing services can increase the revenue and profitability of healthcare organizations. They achieve this by reducing billing errors, denials, and administrative workload. Additionally, these services improve payment accuracy and turnaround time for medical claims. This allows healthcare providers to focus on providing quality patient care while maximizing revenue streams.
Search for a reputable medical billing service provider with more than 10 years of experience in the industry. Ensure they live up to their promises by investigating their online reviews and testimonials.
Ensure that his company has clear methods for measuring the speed of bill delivery. Additionally, make sure they have effective collaboration with your practice to enhance the accuracy of claims. Lastly, ensure that they possess the necessary knowledge to analyze coding and prevent any loss of revenue.
When selecting a billing company, it is important to consider their use of the latest technology. Additionally, they should stay updated with coding changes. It is also beneficial if they offer additional services such as licensing and credentialing. These services can help improve your revenue cycle.
Contact Neolytix in Illinois for medical billing and other non-clinical services to strengthen your financial future.
Billing services are typically priced based on a percentage of the amount billed, with rates ranging from 4-10%. Some providers may offer a flat fee per claim or hourly billing for certain services. Understand medical billing pricing to ensure it fits your practice’s needs and budget.
Medical billing companies handle the entire billing process for healthcare providers, from claim submission to payment posting and follow-up, ensuring timely reimbursements and minimizing errors.Â
Outsourcing medical billing services reduces administrative workload, lowers overhead costs, and improves revenue cycle management, allowing healthcare providers to focus on patient care.Â
The average cost for medical billing services in the USA ranges from 4% to 10% of the collected amount, depending on the complexity and volume of claims.Â
Outsourcing medical billing typically costs between 4% to 0% of total collections, with some providers offering flat fees or hourly rates for specific services.Â
Common pricing models include percentage-based fees, flat rates per claim, and hourly billing for specialized services or consultations.Â
Outsourcing improves revenue cycle management by leveraging expert knowledge, reducing errors, ensuring faster payments, and providing detailed analytics to optimize financial performance.Â
Factors influencing the cost include the volume and complexity of claims, the specialty of the practice, and additional services like coding audits and compliance management.Â
Providers should look for experience, a track record of reducing claim denials, transparency in pricing, advanced technology, and comprehensive support services.Â
Outsourcing reduces costs by eliminating the need for in-house billing staff, minimizing training expenses, and leveraging economies of scale from specialized billing companies.Â
The process includes patient registration, insurance verification, coding, claim submission, payment posting, denial management, and reporting and analysis.Â
Explore the Future of Billing Excellence