How the Gastroenterology Billing Company Tackles Cash Flow?
Consistent cash flow is the foundation of any US gastroenterology (GI) practice. Yet, the increased complexities in gastroenterology billing make it more important than ever before. With increasing healthcare expenses and intricate insurance regulations, practices are confronted with rising administrative challenges. As per the most recent study conducted by the Medical Group Management Association (MGMA), gastroenterology practices have an average denial rate of 6.7%. It is significantly higher than 4.9% for all other medical specialties. So, what to do to streamline the billing process? That’s where the help of a gastroenterology billing company comes into the picture. Why Cash Flow Matters for Gastroenterology Practices Gastroenterology practices deal with intricate and varied procedures such as endoscopies, colonoscopies, and IBD treatments. Each service needs accurate billing. Faulty and poor billing leads to claim denials which eventually leads to delays payments. It can ne...