Compared to other medical specialities, chiropractors face a lot of pressure and responsibilities of running a business. This leaves them with little time for patient care which is extremely important to receive a constant flow of patients.
Coding recommendations and billing regulations keep changing in the chiropractic and pain management arena. Increased administrative work involved in the daily routine of a chiropractic practice has made it difficult for providers to prepare for ICD-10.
- According to a survey conducted on 300 chiropractors, approximately 75% respondents had not even started testing for ICD-10 in 2013
There is a strong need to alter billing as per the changing payer environment in order to avoid denials and delayed payments caused by incorrectly reduced codes, coverage issues, incorrect payments, insufficient documentation and so on.
- Due to lack of employee accountability, performance and productivity gets hampered. Usually, chiropractors don’t have sufficient time to monitor and train staff on a personal basis which leads to unproductive staff and disrupted cash flow
- Many times, chiropractors lack a system that helps them track what is going on with billing on a daily level. This poses hindrance in bringing down the level of receivables and collections
- Providers also face issues related to appointment cancellation and empty slots. They usually lack a system that can measure ratio of appointments in an accurate manner
The right tools and expertise is required to help a chiropractic practice run smoothly. It will not only help boost revenue and empower staff but also play a vital role in keeping the patient happy and satisfied.
How to rescue an underperforming chiropractic billing department?
In order to enhance the performance of an inexperienced chiropractic billing team, providers will have to conduct training sessions, provide them tools and resources, update systems, invest in latest technology and keep monitoring their progress on a regular basis.
However, due to lack of time, money and resources, providers find it difficult to fulfil the above mentioned requirements and find outsourcing their billing service as a practical solution.
Advantages associated with outsourced chiropractic billing:
- Chiropractors can accelerate their payments by hiring a billing specialist
- Collections and income improve due to regular follow-ups
- Latest trends in chiropractic billing procedures are used by the billing team
- Full practice management and financial reporting can be accessed by providers
- Professional coders ensure error-free coding
- Patient data and financial information is available 24/7
- Providers can also enjoy transparency in revenue cycle
Chiropractic billing is too big to overlook and too critical to be left in the hands of inexperienced billers and coders. So, it makes sense to hire companies like Medicalbillersandcoders.com that has been helping chiropractors sail through billing challenges.
MBC has the largest consortium of well-trained, certified billers and coders who have the experience and knowledge of latest chiropractic billing procedures. They work towards delivering full reimbursement and timely invoices to medical practices, including chiropractors across 50 states in the US. By hiring a billing partner like MBC, chiropractors can overcome potential billing challenges and get their revenue cycle back on track.