20 Sep PHYSICIANS BILLING SERVICE
With any practice, cash flow is key. When it comes to physician billing, wrong postings and claim denials can eat into your revenue. That is where the top physician practice management companies such as MPMR can help you. Physician billing requires a specialized set of skills making the Physician Billing Services in Bakersfield a vital service to any physicians practice.
Accurate and timely physician billing services can mean the difference between a practice that just survives and one that grows. Ever-changing technology and compliance laws, coding requirements, patient statements, review and follow up on denied or reduced insurance payments and collections makes physician billing really difficult and cost ineffective to be handled by in-house staff.
How to Reduce Billing Errors
A simple mistake in billing can set a physician back considerably and is the main reason many clinics prefer to use a professional physicians billing service in Bakersfield. In fact, around 80% of medical bills have some type of mistake in them. Each claim with an error will be rejected and denied by the insurance company. This means the medical practice will have to redo the paperwork and send it off again if there is any hope of being paid by the insurance company.
In cases where the denial is due to a procedure not covered or another permanent reason, the money must be paid out by the patient, which can be a long, tedious process. It is always best to get the paperwork right and get paid by the insurance company.
To ensure payment, practices need to ensure that there are no issues with the physician billing information.
Reduce physician billing errors by following these steps.
1.Confirm all patient information. At each visit, the patient’s information should be confirmed. Things change rapidly and all it takes is a small error to cause a claim to be rejected. Check that each name is correct and the address is the right one. Just a few minutes at each patient visit can save a lot of work.
2. Stay up to date on all codes. Entering the wrong code can result in weeks or even months of headaches. The amount of time and energy that is required to follow up on billing and re-entering the codes is time and energy not spent on caring for patients. Anyone involved in medical billing will need to stay on top of new codes and any changes made to these.
3. Check with the insurance company before performing any service. Every insurance company has different types of coverage and it is essential that the medical practice check that the procedures are covered. If they are not and no one checks ahead of time, the patient will be responsible for the payments, which can take years, depending on the final cost.
4. Double check insurance information. Taking the time to look over all the information related to the insurance company can save weeks of hassle later on. One simple mistake in this section can cause a long delay and plenty of frustration. Ensure that each and every line is correct before the information is sent.
5. Watch for billing updates. The regulations for medical billing are in constant flux and any clinic or practice that does not stay up to date is likely to find their billing rejected. Signing up for updates is the best way to stay abreast of changes, but it can require a considerable amount time to stay on top of this information. When several changes go through at once, it can result in confusion and it is easy to miss something.
A physicians billing service in Bakersfield can take over all of these time consuming activities and help ensure faster payment from insurance companies. Bills are paid on time and the service is responsible for following up to ensure the company pays. This not only saves time, it also saves the practice plenty of money, improving bottom line.
MPMR has proved itself to be one of the best physician practice management companies with state of the art technology, highly skilled and experienced staff and a commitment to serve as the top physicians billing service in Bakersfield.