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Medical Billing Mandates Increase Premiums

Medical Billing Mandates Increase Premiums

State regulated medical billing mandates may be beneficial to some people, but they drive the premium costs higher. A Heritage Foundation report was conducted that had significant information for states. It suggested that the more health coverage mandates a state had, the higher the individual premiums. Medical billing mandates that are meant to help citizens may in fact be hindering them.

In the Heritage Foundation medical billing report, four variations of state regulations were measured: health plan liability, mandated benefits, direct access to specialists, and provider due process. It was found that on average, medical billing premiums rose $26.72 per month in states with health plan liability mandates. In states with mandated direct access to provider provisions, the premiums increased by $33.10. They rose $22.49 in states with mandated provider due process and $23.58 in states with more than 26 mandated benefits.

It is pretty obvious that these mandates are designed to help the patients. However, if insurance companies must pay more in medical billing rates, than the premium rates will rise.

To make sure you are not inflating the costs of your medical care provided, be sure you streamline your practice’s operations. Having efficient medical billing staff members can help keep your costs down. The less time that is spent correcting claims and miss payments, the more time that can be spent doing more profitable actions.

Another way you can cut costs in the billing area is to hire a medical billing firm to handle your claim responsibilities. Hiring outside of your company can cut back on salary pay, vacation time, sick leave, and insurance costs. Medical billing companies can positively effect your bottom line. If you make sure you keep your medical billing operations functioning as efficiently as possible, your rates could be the lowest in town.

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