At Coronis Health, we make sure our partners are 100% compliant and able to receive patients and bill out-of or in-network. We go after the last dollar using our seasoned team of tireless and tough negotiators. An efficient medical billing process is essential to ensure a steady cash flow and revenue growth.
- If you consistently get less than expected for contracted services, consider the impact of uncollected coinsurance, unmet deductibles, and missed copayments from patients.
- During this stage of the medical billing process, you or your team needs to transform all that is written into medical coding.
- In order to succeed, healthcare organizations must continually look for more efficient and innovative ways to deliver quality care, lower costs, improve health outcomes and enhance the patient experience.
- Creating the best possible patient experience can have a positive impact on your billing and collections process.
- By doing this, you can help them understand the full cost of their care and make informed decisions about their treatment.
Implementing proactive billing procedures does take time and resources, but it pays off with increased cash flow, more efficient office operations, and ultimately a better overall experience for patients. By introducing these steps into your healthcare practice, you can expedite revenue cycles and position your practice for success in the modern healthcare economy. By employing these seven claims management strategies, you can take great strides toward improving your medical billing processes. Properly streamlining your medical billing and collection processes is a great way to grow your practice without displeasing your patients or overwhelming your staff. Following the tips above — especially the suggestion to use medical billing software — can help you achieve workflow improvements and organizational growth in the long run.
Ways to Improve Your Medical Claims Billing Process
You can ensure correct balance sheets to build a deposit log that you can transmit to your accounts department. Make sure this log has all the details you need to provide accurate posting and allow reviewers to check that the correct payment is made without hassle on any account. – Contact us today to schedule a free consultation on how to improve medical billing for your practice.
- Similarly, if claims for services considered “non-covered” are repeatedly returned, this could mean it is time to check the verification process and the coding protocol.
- One way to optimize your claims processing is to evaluate all the software your practice is using.
- It is challenging to stay on top of this, though, which makes it easier and more cost-efficient to hire a company like PMB to support the entire process.
- There may be redundant claims processing workflows that can be streamlined or eliminated to reduce the time and effort required to complete tasks.
- Hiring the services of a medical billing company is an investment you can make for your practice.
If a procedure description is contradictory or ambiguous, contact the provider before assigning a code to avoid upcoding or undercoding. If in doubt, cross-check with medical coding resources to ensure the correct code is being used. When resubmitting a denied claim, make sure to check the attached Explanation of Benefits (EOB) in addition to the possible errors listed above.
Ancillary services that can help generate practice revenue
In today’s value-based healthcare environment, efficiency is a guiding principle. In order to succeed, healthcare organizations must continually look for more efficient and innovative ways to deliver quality care, lower costs, improve health outcomes and enhance the patient experience. Efficient medical billing is an important part of achieving those goals, but it doesn’t often happen automatically. Studies show that while more than 80% of patients said they felt as obligated to pay for their healthcare as they do for other services, 35% said the payment process is inconvenient. Hospitals, doctors, and clinics depend on the process to get paid, keep track of a patient’s medical experience, and keep practices running smoothly.
If the documentation doesn’t match the charges, or if any information is unclear, the biller may need to clarify the ambiguous language with the clinician. Instead of berating employees for mistakes, adopt the attitude that every rejection is actually medical billing process a learning opportunity to improve the process. For example, when you see higher than expected denial rates, that could be a sign you need to give your team advanced training, or that your scrubbing process is insufficient for your current workflow.