The mechanism of strengthening a medical billing process means dealing with the complex revenue cycle and keeping adding the latest automotive tools to the process.
With the associated complexities, it becomes even more challenging to coordinate with the internal practice flow, meet client demands, and process external pressure. This is why medical billing companies need to maintain a routine check and maintain ongoing audits to evaluate the performance of the coding and billing process.
Here is a complete overview of how you can strengthen your organization’s medical billing process by switching to these steps today.
Maintain patients records
To maintain clear and accurate billing, it is essential to keep and track records of your patients in a timely manner. Instruct the staff clearly to verify the demographics of every patient and the insurance information on each of the visits. This is important when a person switches job, their insurance provider changes and have different coverage limits.
The insurance plans could be changed like they previously may be on an expensive plan and now they are having a lower deductible option. Ensure to make each mundane detail in writing so they can be tracked when needed.
Automate the basic billing function
Engaging employees in a task that can be easily done through an automated system would be time-consuming. It can frustrate employees and drive down their morale who otherwise spend their time in patient-centered personalized service rather than a mind-numbing repetitive task. The tasks that can be automated involve preparing and sending payment reminders, filing claims, and aiding patients in opting-out of the right billing codes.
To make your billing process hassle-free and more efficient, it is important to talk to patients about billing claims. Educating patients about their obligation of paying their bills on time for the service they obtained will also help you maintain the system efficiently.
Train for success
Upgrading and training your staff will also help you make your organization reliable when providing medical billing services. Insurance companies however have their own set of rules. They may include adding charts noted for the patients, maintaining primary care, protocols for non-standard treatments, etc.
Expand your staff with knowledgeable employees and include the necessary components in your billing department.
Track and prevent Denials
As said, maintaining records will help you enhance your credibility and reliability. No matter how you process your billing information, you will need patients’ records and for this reason, you will be able to provide accurate information when it comes to claiming your bills. It’s clearly important to have a system of check and balance which makes a top-class medical billing service provider.
Also, instead of making mistakes and facing denials, adopt the strategy to convert mistakes into opportunities that can even ease the process. If there’s an increase in denial rates, then it is the time when you need to provide your team with a fresh start with effective training which eventually helps elevate the workflow efficiency.
Some of the common reasons for denials involve:
- Lack of sufficient documentation
- Incomplete physician information
- Codes used that are not covered by the insurance providers
Outsource the problematic figures
When there are a plethora of things going around and you have to keep up with everything, you have to consider outsourcing work without showing reluctance. Taking a third party on board for managing your revenue cycle will free up your existing staff and they can be engaged in more challenging collections as experts.
Your employees will be free to help patients with payment problems and your billing section will eventually begin to improve.
Enhance quality control
To eliminate errors in financial matters of your practice, making deposit logs can help you build accuracy. This log should contain the right information for proper posting and to be sent to the billing team. This information should include:
- Name of the patient
- Check number/cash receipt number
- Account number
- Amount due
- Reference number
- Date of service acquired
Follow up on claims
Medical billing services providers should ensure that all the claims are filed on time. One or more staff members should be employed to review the aging claims and to determine if there is incomplete information that could lead to a denial.
However, not communicating with the client about the complete information at the time of service will hinder the billing process and ultimately delays the claiming process. Although, improving cash flow in an efficient manner is essential for a firm.
Improve your billing process today in order to elevate the chance of handling claims accurately. Besides, it is important to train your medical billing company staff and provide them access to proper resources to increase revenue significantly.