The key for timely settlement of claims lies in a comprehensive billing and coding process. It is crucial to ensure a steady revenue generation for a Radiology practice. All the billing and coding practices need to be kept in order so that the claims are processed without any glitches. Moreover, the medical and support staff need to be aware of the correct coding and billing procedures. It is a known fact that billing and coding can take up a lot of time and might rob the radiologist from performing his actual duty. Also, radiologists might not be trained to handle the exhaustive billing and coding process.
In fact, there could be a situation where radiologists might feel that they are doing everything correctly, but still the claims keep on getting denied. Furthermore, they might harbor a notion that payers are coming up with different and unheard type of denials everytime a claim is submitted. Hence, they might even think that although they have a proper billing and coding process, their claims are not getting accepted and are tricked into denied payments. Honestly speaking, insurance companies have an economic incentive in denying claims so it is practically impossible to bring down the denial rate to zero. However, a strong strategy of denial prevention and follow-up can help in improving the situation.
These are a few steps that radiologists can take to reduce the claim settlement delays:
It would be a good move to outsource these jobs to MedicalBillersandCoders.com; they can provide specialized billing and coding services for your radiology practice. Their team of experts helps providers of over 40 medical specialties to reduce claim settlement days and give them a competitive edge over competitors.Back