When you think about good medical practice management, you probably think of the many ways you can ensure your bottom line is strong, like making your practice paper-free or more efficient. Of course, actions like these are essential, but it’s very easy to overlook a different part of practice management that is equally important and that is avoiding errors.
It’s not possible to avoid errors when it comes to Medical Billing Services, especially when your office is busy. If you’re able to have an expert Medcare MSO medical billing service to assist you in the management of your practice, you’ll be able to minimize errors and maximize the efficiency of your staff, which will result in increased profits.
Medical Billing Services
Five Common Medical Coding and Billing Mistakes and How They Can Be Avoided
Mistake 1: Not Having a Filing Claims System in Place
Most payers have a deadline limitation on filing claims, sometimes as little as 30 days following the day of the service you performed, and typically reject claims because of late filing. A system to process and file claims, like those that a professional medical billing service is able to offer, is essential to keep your cash flow in check.
Analyzing accounts receivable
When you send patients their bills sooner in the future, you will have a greater chance of receiving the payment on time. This also allows insurance companies to receive bills quicker so that in the event of an insurance claim being denied, you will have time to reconsider the claim.
Provide Unmatched Customer Service
This might not seem important to RCM. However, consider that you have many locations your patients could go to for their healthcare, so make sure you ensure they receive the best healthcare, but also the most efficient customer service. Instruct patients and make them aware of when they should visit for follow-ups.
Also, make sure to manage your time properly – don’t make it too busy to cause patients to have long waiting periods. Also, make sure you leave enough space in your schedule to accommodate urgent or emergency cases as well as referrals. You’ll be amazed at how this affects your RCM.
Expert Revenue Cycle Claim Scrubbing
The processing of claims can be faster, and insurance companies can pay faster. Find out more about the management of revenue cycles on Wikipedia.org.
Implement Technology to Improve the Billing Process
If you’re not using technology to its fullest capacity, it’s likely that your business is not working efficiently.
- Summary of charges
- Receipts
- Adjustments
Mistake 2: Not Stressing Your Biller about the Importance of Billing
It’s not as easy as it seems to be to believe that the biller in many offices is also responsible for other duties, frequently to the point that their medical billing duties are left in chaos. If this happens to you in your office, be sure to emphasize that the first priority of the biller is…billing. In general, the office must be aware that your first priority should be patients’ treatment. However, billing is your second top priority. It is a meticulous process that requires attention and attention to detail to ensure everything is running smoothly.
Mistake 3: Misinterpreting the Explanation of Benefits (EOB).
Understanding and comprehending EOB requires years of training and experience. It could be an error if the payment isn’t checked or confirmed as the right reimbursement. Sometimes, insurers will only pay for a claim in part or completely reject it.
Mistake 4: Not Following Up on Claims or Outstanding Reports
It’s true that the majority of medical facilities do not follow up on unanswered claims. This leaves money lying around and decreases the flow of cash. Invisible, unpaid claims shouldn’t be allowed to sit in the sand; checking old reports frequently can uncover unpaid claims as well as claims that haven’t received payments.
Mistake 5: Allowing Clearinghouse Reports to Stack Up
It’s easy to let clearinghouse reports build-up, particularly when your practice is busy. When those reports start to increase in number, it’s difficult to detect any issues or claims that are not legitimate. An experienced medical billing staff can assist you with managing your practice efficiently since we have the time and energy required to identify the claims that are causing problems and resolve them in the shortest time possible to ensure you are paid faster and get paid faster. For more information on Medcare Medical Billing Services as well as our offerings, call +1 800 640 6409, or go to website https://medcaremso.com/services/medical-billing-services/.