10 Ways to Improve Your Billing Process

1. 10 Ways to Improve Your Billing Process

2. 1. Open 1. Open communication communication One of the simplest ways of improving your billing process is by ensuring transparency regarding payments with your clients. You can either communicate it to them directly or include the details in the client information form that they fill before meeting you.

3. 2. Updated Patient Files at the Time of Each 2. Updated Patient Files at the Time of Each Appointment Appointment Things change; a patient who visited you a year ago may have changed their insurer, purchased a more expensive policy or could be now covered under the new spouse’s policy. You must have all these details for an efficient and accurate billing process. Make sure that you double-check the details such as the patient’s policy number and billing address.

4. 3. Tracking denials 3. Tracking denials Things change; a patient who visited you a year ago may have changed their insurer, purchased a more expensive policy or could be now covered under the new spouse’s policy. You must have all these details for an efficient and accurate billing process.

5. 4. Employee 4. Employee training training programs programs Dealing with different insurance companies is no easy feat. Each one has its own set of protocols to be followed while filing for the claims.

6. 5. Automating 5. Automating repetitive repetitive tasks tasks Billing functions such as filing individual claims, assigning the right medical billing codes codes and creating as well as deploying payment reminders are repetitive tasks that can be easily automated. medical billing

7. 6. Outsourcing 6. Outsourcing problematic problematic collections collections Many medical practices are comfortable with handling the medical billing medical billing process in-house. But some collections can prove too complex or problematic to handle. process

8. 7. Bank 7. Bank Reconciliation Reconciliation with allowed amount as per contract as per contract with allowed amount The process of revenue management does not end with the claim approval. You have to ensure that the correct claim amount is deposited in your account based on your contracts with Insurances.

9. 8. Reviewing 8. Reviewing delinquent delinquent claims claims To improve your revenue cycle, it is best to dedicate one staff member just to follow up on claims that have not been paid on time. By doing so, you will know exactly why the payments are delayed.

10. 9. Disputing 9. Disputing denied denied claims claims There are times when claims are denied despite providing accurate details. To ensure that you do not lose out on revenue, follow up and be ready to negotiate the claim with the insurer.

11. 10. Medical 10. Medical billing management billing management services services While outsourcing collections can take care of the major part of your revenue cycle management, hiring a medical billing service provider to also manage your claims can streamline your business’s billing process without any stress to you.

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