4 Actionable Tips To Boost Your Medical Billing Process Today
The tremendous change in the 2021 healthcare industry has made healthcare practitioners get adapted to advance billing solutions to boost the efficiency of the complete medical billing process.
As many of the healthcare organizations started utilizing electronic medical records, advanced patient portals, and practice management software for easy billing, the rate of claim denials during the process of submission is still at the peak. So, providers need to concentrate more on medical billing and coding services.
You may come across many articles about the best medical billing process steps, and this article states you the actionable tips on how to improve the medical billing process in 2021 and overcome the ongoing challenges in implementing medical billing software for your practice. The entire billing process will be time-consuming. Make sure these 4 tips are on the top of your list.
1. Accurate Patients’ Information Improves Billing Efficiency
The front desk staff plays a crucial role in the entire healthcare revenue cycle management. Because they are responsible to collect the patients’ demographic information such as name, date of birth, phone number, gender, age, address, insurance ID, policy number, and other basic information.
Medical billers use this information while preparing claims. A slight error in this information can lead to claim denials. Moreover, It’s also the responsibility of the front desk staff to verify the insurance eligibility of the patients. So, to prevent such errors, registration staff should direct patients to bring copies of insurance cards, IDs, at every visit. By doing so, you will process the medical claims with the correct insurance information, and the chances of claim denials decrease.
Moreover, the registration staff should collect copayments at the point of service as well as any balances due. The best solution to minimize the errors in the implementation of electronic solutions (electronic healthcare records and practice management software).
Therefore, it’s important to make sure that your registration staff has access to the latest medical billing software. That helps to keep the patients’ information secure and error-free. Moreover, medical billers can easily access this information whenever they need it.
2. Say No To Medical Coding Errors
Medical codes play the role of invisible engines in the medical billing process. Coding is the process of describing patients’ diagnoses, treatments, medical equipment, and procedures by using standardized codes. Usually, medical coders use ICD-10-CM, CPT, and HCPCS Level II classification systems.
Insurance companies don’t accept claims that contain coding errors such as incorrect, mismatched, or missing codes. However, some complicated errors can land you in legal trouble such as heavy fines, federal penalties, and even imprisonments.
Upcoding, under-coding, unbundling, and incorrect modifiers are the main reasons behind such troubles. Upcoding is considered fraudulent billing that occurs when medical coders assign a code for a more expensive service or procedure than the one that was performed. So, to avoid such errors, coders should double-check the provided information and claims before submitting the medical claims.
3. Try To Do A Clean Claim Submission
Clean medical claims are an integral part of the medical billing process and the reimbursements are highly dependent on the timely submission of medical claims. Some healthcare providers are still using the orthodox methods of data collection, processing, and even manual submission of claims. Such methods always leave a huge room for mistakes.
Therefore, medical practitioners should stop using traditional methods and prefer to submit the claims electronically. The advanced billing tools, not only reduce the burden of billers but also ensure accuracy in the entire billing process.
Less human interference reduces the chances of errors, which ultimately reduces the chances of claim denials. As a result, healthcare providers enjoy a streamlined cash flow. As the healthcare industry is witnessing constant changes in terms of state laws, insurance policies, medical billing, and coding, it is crucial for healthcare providers to stay at the top of these changes. They must undergo constant training to keep pace with the ever-evolving healthcare industry.
4. Outsource Medical Billing Service For Better Outcomes
In this challenging era, healthcare providers are working as front-line heroes to fight against this deadly pandemic. They don’t have sufficient time to handle the revenue cycle management efficiently.
Therefore, they prefer to outsource their billing and coding services to a trusted medical billing company. Outsourced medical billing experts have extensive industry experience and in-depth knowledge about the current industry standards. Based on their knowledge, they ensure the timely submission of error-free medical claims.
They track a medical claim throughout its journey until healthcare providers get reimbursed. Moreover, they reduce the administrative burden of the healthcare providers and allow them to spend a considerable amount of time providing quality care to the patients.
The medical billing process is very crucial for healthcare facilities. The effective billing process is possible only if you have the best medical billing software with advanced features based on the needs of your practice. Vozo medical billing software helps to shorten your billing cycle, collect payments on time, and increases payment collections. So, if you wish to increase the productivity of your medical practice, then this is the right time to get started with Vozo.