How to Improve the Billing Process for Medical Claims

A smooth billing process is crucial for your medical practice. It can assure success to your productivity, processes, and revenue cycle. However, there are still challenges that can hinder your business's flow- denied claims and complex procedures. Even so, your company can still find several solutions to help speed up the process of billing and coding. 

Here are some ways you can streamline your medical billing process right away:

Keep Patient Files Updated and Accurate

Getting the exact information from all your patients is necessary for error-free medical claims. Without it, your practice lacks accuracy. Also, you'll need to instruct staff to check demographic and insurance information at every visit. Why do we need this? 

There are two reasons:

1. One of your patients has a different job and insurance carrier.
2. Your patient has coverage with a new spouse.

There may also be changes to insurance plans. For instance, a patient might upgrade to a more expensive plan with lower deductibles or switch to a less expensive plan with a high out-of-pocket cost. An unexpected increase in bills will surprise your patients. Instead, state clearly and explain the correct process as you update their details. Make sure to double-check details such as the policy number and subscriber information (including the billing address for the insurance company). Furthermore, this information must match the records of third-party payers.

Invest in Training for Success

Dealing with insurance companies is not an easy job. Each has its own set of rules. For example, insurers will require you to include chart notes for new patients for creating a primary care relationship. Often, insurance providers need graph notes only to assist with follow-up care and non-standard protocols of treatment. That's why offering employees additional training is a wise idea. In addition, it provides elements that allow billing departments to identify the proper filing specifications and access patient files. Each carrier can quickly process your claim after you submit it.

Follow up with inquiries

In general, billing departments should always maintain communication with insurance providers and patients. Even though they receive bills and emails, it is still necessary to follow up on their concerns. A claim can get denied if you don't follow up, or your income could be affected. You can do these follow-up strategies:

• Establish a steady flow of income to stabilize your finances.
• Reduce the amount of time that accounts remain outstanding.
• Track overdue payments without any hassle.
• Don't miss claims, which often cause payment delays.
• Recover pending medical claims due to lack of additional information.

Enhance Quality Control

If your practice is effective at reducing claim errors, then the financial state is safe. Eliminating claim errors is crucial for your medical practice to grow. Hence, practitioners help monitor cash flow by using generally accepted accounting practices when posting and recording payments. It is possible to increase account balance accuracy by creating a deposit log for every receipt and then sending it to the billing department. Make sure all the details in the record are complete. In this way, the reviewer can verify if payment amounts are accurate to their correct accounts.

Logs should include the following information:

• Patient name
• Account number
• Check/Cash Receipt number
• Amount due
• Date of service or referral reference number

Hire a Medical Billing Company

You can invest in your practice by hiring a medical billing company. Choosing the right one is crucial, and their medical billing professionals should have years of experience. Besides, this proves that they have specialized training in medical billing. In doing so, they can navigate through the various medical billing issues that may arise. Professionals who handle medical billing also know what medical codes to use. They can provide quick, accurate, efficient, and organized billing services. You can devote all your energy to providing quality care to your patients since they will handle your billing.

Partner with DrCatalyst

DrCatalyst is the best partner for you! We offer cost-effective solutions for all of your medical billing and coding needs. In no time, we can improve revenue and compliance in your practice. Contact our billing specialist to assist you with your billing needs.

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