15 Feb Medical Billing for Integrative Medicine Practices
Insurance billing for integrative medicine practices doesn’t have to be difficult. Many physicians are losing money due to a breakdown in the medical billing process. Find out how to get better reimbursement for your services.
Focus of Integrative Medicine
Integrative internal medicine involves taking the patient from a state of disease to a state of wellness. Standard reimbursement-based allopathic medicine cannot do this. Integrative medicine involves therapeutic methods that offer a comprehensive strategy and emphasizes personal responsibility of the patient. Integrative medicine also involves pharmaceutical drugs, physical medicine, nutraceutical formulations, as well as homeopathic formulations.
Use Proper Coding for Counseling and Procedures
Integrative medical practices diligently focus on the details of their patients’ concerns, so they have a unique opportunity to obtain better reimbursement for assessment and management services. In addition, the physicians use diligent charting techniques to assist insurers with improved payment through billing with high-level codes.
Simple procedures can be implemented that complement the physician’s care, so it increases the practice’s billable amounts and improves capacity for getting paid appropriately. One thing a medical practice often does is classify all of the services as “E & M”, which stands for evaluation and management. However, much of the visit is devoted to counseling and procedure work. Through proper integrative medicine medical billing and coding, the practice receives appropriate reimbursement.
Create Comprehensive Chart Notes
The best thing doctors can do is invest in a way that assures charting is complete. The physician must chart everything he/she does to the patient. While many doctors find this tedious, it helps to invest in a service or system that assists you with creation of comprehensive chart notes. Use of electronic medical charts helps with this process.
Increase Claim Follow-Up
To prevent long-term damage to the financial health of the medical office, you need to follow-up on claims soon after the initial billing. When claims are denied, rejected, or sent to the wrong address, this can delay or interfere with reimbursement. For this reason, follow-up soon after submission of the claim is necessary.
Verify Insurance Information
Insurance verification should be done at every single patient visit. Many patients will return to the office and have frequent visits, during which time the insurance information may change. To assure approval for various services, the office staff should verify all insurance information.
Develop an Appeal Process
The most complex and frustrating part of medical billing is appeals. A denied claim does not mean that no payment can be received. For an integrative medical practice to survive, the biller should develop and follow an appeal process. Avoid writing off charges when an appeal could result in at least partial payment.
The billing and collection procedure should involve consistency to maintain revenue within the practice. Without a consistent billing process, many details are overlooked, and this results in lost revenue. From the moment a patient makes an appointment to the time the final payment is received, failure to remain consistent will result in lost revenue.
Take Advantage of Technology
For improved medical billing in your facility, you should take advantage of technology. This means utilizing software that is up to date, as well as an electronic billing system that is compatible with insurance plans. High-quality software updates as the rules change, assists medical billers to recognize new trends in denials, and improves reimbursement.
MPMR offers first rate medical billing for integrative medical practices. This includes certified coders, billers and also operational management consulting. This way, your practice will not only collect more, but also run more efficiently! Call us today for a complimentary consultation.