January 19, 2015
It is important for billers to file a chiropractic claim the way the payer wants to receive them. This is necessary because the way a chiropractic practice files claims and the way an insurance company processes those claims is quite distinct. The system maybe outdated but if not handled in the right manner, it can result in delayed or denied payments.
Has Claims Denial Increased for your Practice?
Is your online medical billing system updated? Have you been using certified billers and coders? It is important for chiropractor offices to use medical billing programs that can inform providers about the changes in payer claim reimbursements. Claims submitted by the billing department should fit the insurance company’s system or else it will lead to denied claims and delayed payments.
Filing claims according to the particular insurers will reduce the processing time and rate of denials and increase the revenue for the practice. Once ICD-10 is implemented on October 01, 2015, chiropractic billers will start facing more challenges in procuring payments from insurance companies.
Implementing Effective Revenue Management Solutions
According to medical billing experts, now is the right time to implement effective RCM solutions in the chiropractic practice. It will help in producing real data for real revenue enhancement. With the help of a streamlined RCM solution, providers will be able to obtain detailed information from the system in an easy manner. It will be an added advantage for the practice.
In-office Systems will Generate Real Data
The in-office systems will generate real data that can be used for increasing patient pay. For instance, a patient pay schedule can be easily created if the medical billing specialist will explain the patient his / her insurance details at the time of appointment. It helps to set up the patient pay schedule when the patient arrives. This will prove highly effective in increasing patient satisfaction levels because they wouldn’t want to get bills they don’t understand or expect to receive.
Chiropractic practice staff should give accurate and upfront information to the patients. It will help the patients understand the costs and they will also co-operate in setting up the payment schedule. Eventually, these factors will help the practice get timely payments for every rendered service.
In order to implement the best RCM solutions for timely payments, many chiropractors have started to outsource chiropractic billing services to reputed billing companies such as MedicalBillersandCoders.com. Companies like MBC have a team of experienced billers, coders and RCM experts who help medical practices maximize revenue and minimize claims denials.
By outsourcing RCM needs to chiropractic billing companies, chiropractors have been able to dedicate more time on quality care. They have realized that medical claims profitability can be optimized only with the precision, diligence and experience of RCM experts. Since there is a lot to handle at work in a day including ICD-10 preparation, compliance with reforms, coding, billing and patient care, it makes sense to maximize financial performance by choosing to outsource chiropractic billing services.
Best Billing and Coding Practices