Outsource Medical Billing

Medical Billing Companies

Even before Bernie Sanders became a part of the of the presidential race, Dr. Adam Gaffney and Dr. Marcia Angell assembled an independent group of 39 leading physicians to contemplate on a better health care reform and fix the problems that remain even after the passing of the Affordable Care Act.

At present, around 27 million Americans are un-insured, which means they would be bankrupted after a serious illness, as many of them have narrow network coverage that won’t pay for care at top cancer centers or academic hospitals.

It is evident how big insurance companies and firms dominate the healthcare industry with a steep focus on their motives. Even solo physicians and nurses need to comply with the demand of electronic documentation by insurance companies. Although the law made some changes, it predates the ACA.

The alternative developed by Dr. Adam Gaffney and his colleagues appears in the current issue of the American Journal of The Public Health. It is a developed version of Medicare much along the lines that Bernie Sander has urged for and is known as the single payer plan.

Medical Billing Consultants

Medical Billing Consultancies

The single-payer plan would cover for everyone without any copayments and deductibles, which includes every medical necessary care like dental care, prescription drugs, and long-term care. The single-payer plan would also cover for every doctor or hospital unlike private insurer’s narrow networks that restricts patient’s choice of doctors and hospitals.

A streamlined single-payer system can easily replace the current wasteful patchwork of insurer in the U.S. At present, a doctor, hospital, or pharmacy gets around 88% of every premium, while the rest goes to the insurance providers. And also about a quarter of the revenues are spent on billing and administration by doctors and hospital while dealing with massive paperwork inflicted by insurers.

In contrast, Canadian hospitals spend only half of the administrative cost compared their U.S. counterparts. So, by cutting down the administrative costs to Canadian level, a single payer can save about $500 billion annually. Moreover, by saving 10’s of billions each year, the single-payer can use its purchasing power to lower drug prices that would benefit everyone.

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