Recent findings have proven that medical bills are among the leading causes of bankruptcy. But the high costs of staying healthy aren’t just tough for your patients – they can also be a financial strain on your practice.
In this post, we’re outlining the best ways to close the loopholes in your medical claims billing by pointing out common errors and the best ways to prevent them by using electronic billing and tracking software, talking to staff, and more.
You can’t afford to skip this article.
Tip 1: Stop Pushing Paper
It’s easy to make mistakes in your medical claims billing process when you’re doing things the old-fashioned way. Software can not only help to save you time and streamline the efficiency of your billing process. It can also help you to catch serious, costly errors.
This automated process should begin with the scheduling of your appointments. Look for software that sends out automated email reminders and other notifications when it comes to both the booking and billing process.
You should also use digital forms and record keeping strategies to make sure that nothing slips through the cracks. Plus, you won’t have to waste your customers’ time asking them to fill out a form again if a hard copy gets lost.
Your software should also be able to check your procedure codes, keep records of the services your practice provided that day. Also accurately keep track of all the costs to both patient and practice.
Tip 2: Make Sure You’re Always Keeping Up With Regulations
Even if you’ve only been in practice for a short while, you’ve likely already experienced several changes to the medical claims billing process.
These claims and the regulations surrounding them are changing all the time. To avoid problems and errors that cost you both time and money to correct, make sure you’re always keeping up with the latest regulatory news and standards.
How can you accomplish this? Make sure that you’re always implementing new staff training programs.
Also, are you using the right technology and software to alert you when regulations have once again changed? Are you keeping in touch with other professionals in your industry?
Tip 3: Don’t Let EOBs Fall Through The Cracks
EOBs, or Explanations of Benefits, can be a lot to unpack. We get it: there’s a lot to handle and keep track of when it comes to your medical claims billing.
Still, just because a claim has been denied doesn’t mean it’s OK to move onto something else.
Make sure that you’ve created a system to keep track of denied claims that works for you and your practice. Also, take the time to ensure you’ve followed up on any claims that come with EOBs. Always follow up!
Talk to your team about their ideas to improve this part of the medical billing process.
Then create a firm schedule and plan to implement their ideas.
Tip 4: Watch Out For Improper Coding and Payments For Services
Look, mistakes can happen when it comes to medical claims billing. But, they can also be very costly.
Always run audits as often as you can, and make sure that you’re not over-billing for the services your practice provides – or worse, under-billing. Also, scrutinize the bills you get for ordering medical equipment. Especially look at shipments of medical supplies. Vendors can make mistakes in billing, too.
Especially if you’re on an automated order system, this is crucial to prevent a serious hit to your budget. Make sure too, that you’re accurately billing for each part of a service. Use separate codes for each service provided. Not just one overarching code.
Anything you can do to cut down on errors is going to save you money in the billing process. Not to mention, prevent a lot of headaches for both your patients and your practice.
Tip 5: Make Sure You’re Managing Your Staff Effectively
When it comes to properly handling your billing methods, communication is key. That should start with intraoffice correspondence. It should also cover a thorough examination of how your employees are communicating with your patients.
To get a feel for how errors are happening, and the most common problems your staff are facing, start by talking to and surveying your medical billing staff.
What are the parts of the billing process that are causing them the most headaches? What are their most frequent errors? What do they wish was easier to handle when it comes to the billing process? What are their ideas for improvement?
Remember that when it comes to medical billing, one small error can often lead to several more. The cost to your practice can increase exponentially.
Ask yourself and your staff how you can be more clear when it comes to the billing process. How can you reduce the number of claim denials you’re seeing? Are you being clear with your billing policies? Is your staff clearly communicating those policies to your patients?
Examine what your follow-up process looks like. Ask how you can shorten the timeline of the process. Do this by tracking the claims across the entire billing cycle. Also work with the healthcare payers to make sure that claims are quickly filled out and filed.
You’ve Got The Information You Need To End Medical Claims Billing Errors
In recent years, the margin of error when it comes to medical bills has been as high as 70%. No wonder so many patients are challenging their medical bills.
Not only does this affect the efficiency of your office and practice. It also makes you appear disorganized and even untrustworthy in the eyes of your patients.
It’s time to put a stop to costly, time-eating errors in your billing process.
Want more information about how you can prevent and correct errors in your medical billing process? What about the types of software you can use to make it happen? Get in touch with us today. Check out our website to learn more.
Make this the year you reduce your margin of error on medical billing. Make it the year that your patients are happier than ever.