Three Reasons why Regulatory Compliance is Necessary for Health Facilitiesby Kristen White Blogger Regulatory compliance is not an option for medical facilities but smaller offices do not have the ability to hire a full-time individual to keep up with the ever-changing policies and laws in this industry. Partnering with an outside resource is affordable and provides benefits by helping the physician avoid the negative consequences that come from non-compliance. When considering the available options, it’s important to remember that one of the primary results of not following the proper regulations is resultant fines and fees levied against the office. These can be more expensive than making the investment upfront and avoiding the situation altogether. Community impressions must also be considered since fines and imposed penalties can also prevent the office from doing ‘business as usual’ which can cause patients to look for a different physician to address their health needs.
Medical liability is a significant risk which is why insurance costs are so high for doctors but one way to reduce the gap and increase protection is to have the necessary standards and procedures in place that comply with regulatory laws. This includes working with the top medical billing companies in Houston to show that the correct codes and charges are being used with insurance providers and patients. Health audits look at medical records, invoices, documentation, privacy safeguards and a variety of other paperwork. If a lawsuit is brought against the office, proof of adherence to government health and safety standards is a powerful defense that can support the doctor’s actions and decisions in the patient care situation.
A third reason that health facilities must make compliance a high-priority is so they can become accredited with insurance providers which helps their business. This is how an office receives ‘in-network’ status allowing patients to pay less out of their pocket and the doctor has an established pay scale with the insurance company which makes billing out faster and easier to receive payment in. Medical billing outsourcing companies specialize in creating custom invoices with a streamlined process but their experienced staff also has the knowledge and connections to handle the accreditation workflow which is different between providers. This ensures that the doctor and their staff can focus on patient care with the assurance that the other details will be taken care of in a professional and affordable manner for the benefit of everyone including the patients.
Health facilities that consider the holistic view of what they are required to have a reliable reputation in the community because they not only provide excellent patient care but they stay on the ‘right’ side of regulations and compliance. Make sure your facility is exactly where it should be in an industry that is constantly changing and evolving the standards to keep up with science and technology. Instead of hiring someone full-time, work with the best agency resource to handle these tasks on your behalf as well as additional functions that can expand the business and establish a more efficient way of billing customers and working with insurance companies.
Created on Sep 24th 2019 08:06. Viewed 53 times.
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