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Generating Your Practice Revenue during the Coronavirus Pandemic

The magnitude of the Coronavirus pandemic has affected the world economy on a large scale. The US Healthcare system is witnessing the most volatile and unpredictable situation ever. It has brought great panic amongst both doctors and patients while maneuvering through this complex race for survival and health care. Several health care facilities, local clinics, hospitals and practices are experiencing lower patient volume amidst the global Covid- 19 quarantine.

The decline continues to grow as the health care emergency widens. Primary care offices are seeing lesser patients physically to secure themselves and protect their staff members. President Trump has authorized an $8.3 billion budget to address the Coronavirus and suppress its spread. The mandate includes a plan to assign $500 million to remove the obstacles that hamper Medicare beneficiaries from accessing telecare. The US has reportedly expressed grave concern over the unavailability of enough ICUs and ventilators if there is a considerable surge in the coronavirus pandemic. Millions of people from all walks of life and ethnicities have been asked to work from home. As inpatient visits have ceased there remains great potential for telemedicine to thrive and exceed the expectations of the patients.

Quick Decision making and planning

Agencies like AAFP(American Academy of Family Physicians) and CMS(Centers for Medicare & Medicaid Services) are providing the latest updates to health care providers to remain informed on all latest Corona Virus updates. The CDC (Center for Disease Control and Prevention) is constantly sending alerts on the pandemic situation. The use of EHR software to bill and code for Coronavirus patients is increasing by and large. Having a clear chain of command would help practices in making key decisions to speed up workflows and monitor their financial performance. The need for abrupt planning to consolidate the status of any functional provider’s office is crucial in this volatile time. The best way would be to affirm safety to your employees and prioritizing their health over their duties. Keeping them posted on the recent events that could impact the practice in a big way. Putting guidelines in place to be communicated clearly. The CDC has launched an in-depth interim guideline regarding the Coronavirus for all providers seeking the correct information.


Foreseeing Employee Absence

Teleconferencing is bridging the gap between patients and providers immensely. Virtual conversations through the use of technology are cost-effective solutions for patients. It is a source of solace for all those affected by the huge pandemic. In this situation the role of seasoned medical billing and coding providers has increased tremendously. With more and more patients steering toward virtual checkups telemedicine providers are guaranteed to have long-term growth opportunities. Extensive use of telemedicine services most likely will be accompanied by changes in a practice’s workflow and staff responsibilities, and possibly require some physical alterations. Staff members would have to take on different roles depending on the practice situation. Communicating changes with your staff are thus crucial to win their trust and building your practice on a positive note.

Develop a  Contingency Plan

As there is no particular survival mechanism that can help regulate the Healthcare industry to thrive and get reimbursements promptly. Outsourced Medical Billing and Coding for Physicians is the best strategy to streamline your practice workflow for maximum revenue generation. Primary care physicians are worried about their practices sustainability and financial health. There is a lot of pressure not only on doctors and physicians but all business owners to maintain the survival of their practice or business during the Coronavirus self-isolation scenario. Apple has decided to donate $15 million to treat Coronavirus patients.  As any misdiagnosis could prove to be fatal its essential for medical billing and coding specialists to be well informed on the newly developed coding strategies to bill for Coronavirus. Professional health care associations are creating more awareness and providing ample support to providers to get their reimbursements on time. This proves to be a great forum for real-time assessment during this pandemic.

Evaluate Ongoing Financial Obligations

Patients are now dependent on telemedicine due to the new lifestyle adjustments they were forced to make. The nature of this pandemic is highly transmissible.The necessity to hire professional medical billing and coding service providers has grown tremendously. This has brought about a huge challenge for providers to take on more patients through telemedicine. The travel sector could shrink to 25% in 2020 according to the World Travel and Tourism Council (WTTC). Travel restrictions and shutting down public places have left a strain upon many leading to a virtual existence. The idea of video conferencing and live streaming to tackle the health care issues of patients has taken precedence. Potential E-commerce strategies would help in winning the war against this deadly disease.

Access Current Supply Needs

There is a huge demand for immunologists to actively access, research and devise new health care solutions to counter the Coronavirus symptoms intelligently. Coronavirus is dictating consumer behavior on a large scale. Health care merchandise that includes sanitizers, masks, and handwashing liquids are in high demand. The Coronavirus is precipitating change across several industries. Drastic measures are being taken by Healthcare officials to contain it. It has been months since the first wave of the Coronavirus hit the world. The use of Digital Media to help the expansion of improved and seamless health care solutions has increased.

Make Use of Digital Health Tools and Coding

Medical billing and coding services in the US have seen an extraordinary rise as more practices are turning to outsource options. This has called for health caregivers and medical billing service providers in the US to expand their digital presence. Telemedicine is tremendously paving the way out for patients to be accurately assessed for a variety of symptoms or illnesses. There has also been a huge boom in the use of teleclinics for urgent care providers. There is now a vast need for remote interactions. Telehealth and Telecommunications is currently on of the best ways for patients to receive a diagnosis and treatment. Keeping yourself and your staff updated on the use of the latest eTelehealth tools can tremendously help your practice and patients during this precarious Coronavirus pandemic.

Identify Coronavirus (COVID-19) Billing Codes and Stay Abreast of New Relaxations in Healthcare

The novel Coronavirus was declared a National Emergency by the US.  Thus an urgency to keep a relevant record for all cases of Coronavirus and generating unique codes to help bill for these cases became the number one priority for the Healthcare System. UK Government officials have announced a £20m project to study the various mutating strains related to COVID-19. In these turbulent times it is essential for providers to have a firm grasp on the new codes that would help in testing and billing for Coronavirus patients.  New waivers have been introduced for Medicare, Medicaid and other insurance policyholders. The billing code released in February (U0001) is for SARS-CoV-2 diagnostic tests for CDC testing labs. The second billing code (U0002) will expand medical billing and coding for coronavirus lab tests.

GreenSense Billing is your most credible source for all medical billing and coding services. We have been serving our clients for more than 25 years. We have exceptional experience in Practice Management Software, High-end data management, Analytical reporting, EHR, and Telemedicine services. We ensure maximum revenue generation and maintenance of premier levels of service to increase the financial health of your practice.

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