Medical billing entails a long process of activities, each stage significant to ensure full reimbursement. Majority of the physicians and practices suffer lower revenue collections owing to certain incorrect medical billing practices. Incorrect coding, piled A/R, lack of follow-up can all affect your practice’s financial health. We understand how important it is to strike a balance between offering patient care and steering clear of billing and coding errors that sometimes plague practices.
In order to stay financially strong and healthy, practices must follow a few dos and don’ts of medical billing. Read on to know more –
Don’t Ignore Denials
Setting up a process of balances will maximize first-pass rates, irrespective of whether a practise uses a medical billing agency or processes claims internally.
When denial rates are higher than predicted, it may be a sign that your team needs advanced training or that the scrubbing procedure is inadequate for your existing workflow.
The following are some of the most common causes for denials:
• You don’t have enough supporting paperwork
• Your doctors aren’t properly certified
• Codes are used for services and equipment that are not covered by the carrier
When you keep track of denial codes, you could see some simple ways to improve your practice’s efficiency.
Don’t Forget Check-In Policy
When a clear policy is in place and followed every time a patient checks in, the chances of medical billing complications are reduced. Before you do anything else, make sure your patient is aware of your payment procedures, and that all of their data is correct and complete. Even if they are regular patients, it is a good idea to have them double-check and confirm that their information each time they visit your clinic.
Don’t Fret Over Appeals and Claim Denials
Despite a near-perfect medical billing process, claim denials still happen. The best way to deal with claim denials and appeals is to employ medical billing services that can devote the necessary time to resolving the problem and obtaining approval for the claim. You must deal with appeals in time to avoid any losses.
Do Maintain Updated Patient Files
Handling claims with accuracy is difficult if you don’t have the correct information on all of your patients? At each visit, you’ll need to remind employees to double-check patient demographics and insurance information. A patient may have a policy change for a variety of reasons.
Explaining the procedure as you update their information will help so that they aren’t taken by surprise with unexpected charges. Double-check data, like the insurance details and information, including the health insurance company’s billing address. It’s critical that this information verifies the records of third-party payers.
Do Have a Medical Billing Assessment
The regulations and environment of medical billing are continually evolving. Billing assessments guarantee that your practice’s billing processes and technology are up to date and suitable. Assessing your present billing system will help you find areas that want improvement and provide you with the direction you need to make it more productive and cost-effective.
Do A Double Check on the Billing
Having a process in place to detect claim problems before they are submitted is the simplest method to be compliant and prevent claim errors. Although human error is unavoidable, utilising technology – claims scrubbing, rules engines, etc. can significantly reduce the likelihood of denials.
It’s critical to train your team and provide them with the resources they need to conduct accurate claims processing for the health of your practise’s bottom line. The finest thing you can do for your company is to have all of your accounts managed by professionals. Medical billing and coding is a complicated process that should only be handled by experts. Info Hub Consultancy Services, an offshore medical billing company offers impeccable services in billing, coding, credentialing, A/R follow-up and more, and to all specialties. Our dedicated team for every service ensures you get reimbursed correctly and on time. Medical billing services will help save you time and revenue in the long run, as well as relieve you of the burden of this task.