The medical billing industry had not seen much activity up until 2019. However, in 2020, when the pandemic hit the work, the healthcare system also felt its effects. The uncertain events of the past year have only quickened the industry’s digital revolution to bring in new technologies. Let’s look at some of the trends for top medical billing companies in 2021.
COVID-19 and the move to telehealth
Switching to virtual visits became a necessity for healthcare providers. However, it also left an impact on medical billing in the form of new CPT codes and billing changes. This forced payors to update their policies. In 2021, all top medical billing companies are expected to incorporate these changes to maintain their revenue streams and be ready for the future.
Digitized claim submission and processing
By reverting to electronic claims, healthcare practices can file claims quicker and identify problems early in the piece. The whole cycle (from drafting a claim to tracking its progress and reimbursement) can be freed from errors through medical billing software.
Automated billing and coding
It’s become clear that automation is the way forward for medical coding and billing. Healthcare professionals should not waste time on redundant tasks. Reducing manual labor and errors through software automation can allow providers to reduce expenses and focus on more important tasks.
Incorporating EHR into billing
For the last ten years, the US government has been encouraging the healthcare industry to adopt Electronic Health Records. Many have been reluctant based on perceived usability issues and tiresome manual input. But as medical billing systems evolve, EHR integration with billing processes can bring numerous benefits.
The use of AI
AI has proved its worth across different industries. Medical coding and billing are also discovering its value. Many billing solutions are already using AI, and everything indicates that the medical industry will adopt it even more.
