April 02, 2015
Many medical practitioners are outsourcing their billing services to third party professionals. This helps them in managing their core practice better and they do not have to worry about the administrative part as it is handled by the specialists. Optometrists too should look at this option. To begin with there are two plans which affect optometrists. One is medical insurance and the other is vision plan. Vision plans covers updates in glasses, contact lenses and a health wellness screening. Other issues like allergies, dryness, infection, headaches, cataracts, glaucoma and other such issues are covered under medical insurance. Hence, the provider needs to be very careful who he bills this to; vision plan or medical insurance.
It would be illegal for the doctor to bill a vision plan or medical plan for the same visit. He does though have the freedom to choose one plan or the other. The approval of vision plan claims are calendar based. As far as they are concerned, the patient should be eligible, the diagnosis does not matter to them. Medical insurance as we know approves claims based on appropriate medical diagnosis and medical necessity. If the patient has both types on insurance and if there is an appropriate medical diagnosis either of the plan can be billed and it will be paid.
The future looks healthy for Optometry industry. Continuous reforms in healthcare and an aging population will help growth in this segment.
The ageing population has contributed tremendously to the growth of the optometry industry in the last five years. Adding to that, healthcare reforms like pediatric vision care coverage have increased the demand for eye examinations.
The industry is growing at a rate of over one percent and is pegged at a revenue figure of fourteen billion dollars.
Benefits of Optometry Billing Services
The benefits of opting for billing services are:
It helps in reducing cost. Since the claims will be managed by seasoned professionals the claims will not be delayed or denied which will result in higher revenue
The practice might lose out money if their billing process is not smooth. Whereas billing companies work as a well – oiled machinery hence the practice will earn more money
The ever changing rules and regulations with regards to billing and coding are issue to keep up with. Hence, opting for an experienced billing professional is a safer bet as they can follow these changes and keep themselves abreast with the constantly changing billing and coding rules
Documentation is a key to getting the claims processed. Many a time’s claims get denied due to improper documentation. Billing professionals are experts in documentation and they make sure that all the papers are in order so that the claim does not get denied
Optometrists can partner with MedicalBillersandCoders.com for quality services. They have a knowledgeable set of people who cater to different medical specialties. Their expertise with optometry billing services will definitely help optometrists in increasing their revenue.
Best Billing and Coding Practices