Hey there, fellow readers!!!
In this topic, we are going to discuss the common pit falls and the industry standard life savers that help us overcome these pitfalls.
Let’s discuss the most common pitfalls in the medical billing industry.
The errors in the entry of the codes, demographic details are the biggest problem faced by the medical billing community. This inaccuracy leads to rejection of claims- eventually a big drop in your collection percentage.
The art of deciphering the doctor’s handwriting is one skill that is required by the medical biller or coder. The mistakes increase as a result of your failure to convince the doctor to be legible.
The medical industry has evolved and adapted to new technologies. Many practices resort to this as a remedy to end their billing problems. Since implementation takes time the medical office becomes a mess.
The medical billing salaries of the staff increase from time to time. These costs can prove fatal if you can’t make sufficient claims to maintain an in-house billing team. Many medical practices lose a fortune investing on illegitimate software that claims to offer better services than your medical billing team.
These Pitfalls can be overcome by the good planning and understanding the areas that are vulnerable. By negating the most common mistakes a successful medical billing can be achieved.
For best results Hire Professionals:
In medical billing nothing works unless it is handled by professionals. Sheri Poe Bernard, Vice president of Member relations at the American Academy of Professional coders in Salt Lake City stresses the importance of hiring certified coders to do the job. She was heard stating “certified coders have better understanding of the risks involved in not using appropriate compliance and regulatory tools to their job” Bernard advices the physicians to skip friends and relations out of the billing services. This is because the coder’s credentials may prove fruitful at the time of claims argument or appeal.
Practice the Habit of documenting everything. The suggestion may sound old but bad documentation is always a problem. A study says that among all problems in a medical billing job the medical billing professionals has voted highest for “Bad medical documentation”. Without the proper documentation the medical necessity cannot be expressed in full. These cryptic documents (medical documents) prove beneficial at the time of appeal of denied claims.
Keep track on the Billing system:
Medical billing process varies from practice to practice. The process or the system needs to be updated or analyzed once in a while as there are some frequent changes happening in the medical billing industry. “A minor glitch in the medical billing system may cause a huge revenue loss for small or big practices” says Shivakumar, CEO of iSource. iSource is the best at identifying the vulnerable spots in your weak medical billing system. Our process re-engineering will align your process on the right track and your improved system gives you better collections.
Frequent Cross checks:
Make constant verification between the papers’ documented data as well as the records fed into the system. This prevents the missing of patient claim filing.
Educate yourself on the EOBs:
The explanation of benefits gives information on what grounds the claims can be rejected. But on digging deep into the EOB it can unveil much more information about really making medical billing work in your practice. iSource is a leader in the industry. Our medical billing staffs not only adapt to the numerous changes based on the medical billing industry but they also evolve into making intelligent decisions that would make the insurance carriers pay.
If your work is all about saving lives of people then why deviate from it?
Think of outsourcing the medical office operations such as transcriptions, billing and coding to companies like iSource. These companies have the medical office operations as their core business. They have the excellent experience on billing and claim filing procedures that would help to improve the entire medical billing system legitimately. Companies like iSource hold their production offices in India. This gives an advantage over time, cost and accuracy. Such outsourcings are likely to reduce your billing costs down to 40%.
The above given are the most viable parachutes to avoid endless pitfalls. In case of any queries please feel free to contact us @ our toll free 1-(888)-571-9069.