Need for Billing Services Increases Amid Rapidly Changing Healthcare Landscape
PHOENIX--(BUSINESS WIRE)-- Associated Billing Services, Inc. (ABS), which provides a range of medical billing and accounts receivable management services to the healthcare industry, announced today the expansion of its business. ABS attributes the recent growth in its client base to the current changing healthcare landscape as evidenced by the adoption of electronic health records, the introduction of the stimulus bill as dictated by the American Recovery and Reinvestment Act (ARRA), and the incentives offered to medical practices to transition to electronic platforms.
Lately, an increasing number of providers are seeking to contract with third-party billing services to manage what can be a cumbersome, overwhelming and time-consuming component of their practice. Currently, 30 percent of the medical practices in the nation outsource their billing function, according to the Healthcare Billing and Management Association, a leading trade organization focused on advancing the healthcare billing and management industry through advocacy and by providing education, information and other valuable resources to its members while promoting high ethical and professional standards. ABS serves nearly 50 practices throughout Arizona and surrounding states.
As a result of all the recent industry changes that are prompting the need for outsourced billing services, ABS added six new clients to its growing network. These include:
- Optimum Mobile Imaging, LLC., Phoenix, Ariz., Mobile imaging center providing vascular ultrasound
- Stacey D. McClure, M.D., PLLC, Phoenix, Ariz., Orthopedic surgeon focused on sports medicine
- Victor Tseng, M.D., P.C., Phoenix, Ariz., Orthopedic surgeon with expertise in hand surgeries
- North Phoenix Orthopedic Surgeons, LTD., Phoenix, Ariz., Orthopedic surgery specialists
- Desert Spine Institute, Inc., Yuma, Ariz., Orthopedic surgeon specializing in the spine
- Sanjay R. Patel, M.D., PLLC, Phoenix, Ariz., Pain management and rehabilitation practice
ABS serves individual and group medical practices that span a broad range of specialties. Over the years, the company garnered significant expertise in serving clients of varying size and scope, including those engaged in the radiology, orthopedics, gastroenterology, pathology and pediatrics sectors.
“Healthcare providers face a tough road ahead with reimbursement cuts, increased technology requirements and tighter compliance regulations. More and more frequently, they are turning toward third-party billing experts for support and looking to deploy electronic and practice management solutions to assist them as they enter the unchartered territory of healthcare, particularly with the rollout of the ARRA and its policies,” said Matthew Frick, vice president at ABS.
“Third-party billing services like ABS are bringing providers a highly valuable and seamless service offering. We can help reduce costs, lower overhead and foster rapid reimbursement. Most importantly, we set up systems that provide significant data and intelligence through auditing processes so that billing and collections efforts can be continually tracked and monitored. All these initiatives allow physicians to spend their time focusing on doing what they do best – treating patients and providing quality care. With the right protocols in place, physicians are seeing that their complicated billing functions are successfully managed and their collections are dramatically improved,” Frick added.
Billing service companies like ABS can handle a range of services from credentialing and claims submission to payment posting and accounts receivable follow-up. ABS’ integrated offering includes, among other services, fee schedule analysis; patient demographic registration; coding verification; claim scrubbing; electronic and paper claim submission to insurance plans; remittance posting; appeals and grievance processing; accounts receivable follow-up; patient statements; compliance adherence; and customized financial reporting.
ABS is a full-service medical billing company, handling a range of services from credentialing and claims submission to payment posting and accounts receivable follow-up. ABS’ integrated offering encompasses all key steps necessary to the claims and reimbursement process.
Founded more than three decades ago, Phoenix-based ABS is a family owned business that has established a proven track record in helping its clients improve their billing and collections. Over the years, ABS has emerged a leading medical billing provider, ranking in the top five percent of medical billing companies nationally, based on volume of billed charges, according to the Healthcare Billing and Management Association.
KEYWORDS: United States North America Arizona
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