Chiropractors have been facing 26% fee cut for some time and with ICD-10 round the corner, it has become important to be prepared for billing challenges. According to a survey, a large number of chiropractic practices in the US are not yet prepared for the new code set. The survey was conducted on 300 providers out of which 75% respondents had not even started ICD-10 testing.
There is a strong need to decrease insurance refusals and increase the bottom line. Chiropractic billing should be altered as per the changing payer environment.
Challenges associated with chiropractic billing:
- Chiropractors have to treat different injuries and face multiple patient issues and therapies on a regular basis which causes huge billing concerns, if not prepared
- Coding recommendations and billing regulations keep changing for chiropractors on a constant basis, posing billing challenges for practices that lack skilled staff
- Difficulties in handling different therapies and patient issues within a tight schedule leaves less or not time for providers to achieve the right balance between chiropractic billing and documentation
- Modifiers, incorrect payments, incorrectly reduced codes, coverage issues are some of the other issues due to which primary billing challenges are caused in chiropractic offices
Chiropractors need to update systems at their practice on a regular basis, especially billing, financial and operating systems to improve bottom line. 2014 is going to be an easy year for chiropractors; however, they need to be prepared for changes that will be caused with the implementation of ICD-10.
How can outsourcing benefit chiropractic billing?
By your outsourcing chiropractic billing requirement, you can eliminate the headache of hiring, training and other daunting administrative tasks. Only an expert team can offer highest level of billing and collections servisces. A billing partner will also help you enjoy the following benefits:
- Your chiropractic office staff will have sufficient time to assist you in patient care
- Cash flow will increase and insurance refusals will reduce
- Providers will get enough time to concentrate on offering quality patient care
- Cost of your workplace will go down considerably
- Your requirement to maintain or substitute systems and billing software will be reduced as the billing company will be handling these aspects
You can be assured of timely results if you outsource your billing needs to reputed companies like Medicalbillersandcoders.com. MBC has the largest consortium of coders and billers, offering full service of billing, coding, AR, practice management, charge entry and other vital tasks related to chiropractic practices. The team at MBC is specialized in providing billing and coding solutions to small as well as medium chiropractic practices across the US.
By relying on MBC, you can be confident that your reimbursement needs are being met with precision to get your claims paid quickly. Our experts will reduce AR days and denials by ensuring documentation and completed forms before claim submission. Coders and billers at MBC are updated with new payer norms and regulations and only the latest technology is used to offer timely results.