Medical billing has always represented a challenge for healthcare providers and patients.
The constant changes to the U.S healthcare system make medical providers adjust their processes often. This way, the medical billing tasks become time-consuming and the value-based compensation model and frequent alteration of billing rules cause revenue losses.
Since we know how hard is to keep up, here you have: 4 tips that will help you enhance your medical billing process, so you can have a more effective – and profitable Revenue Cycle Management, according to our team of Medical Billing Specialists.
4 Tips to Have a More Effective Medical Billing Process
1. Establish your Process
If you have some experience working with medical billing claims, you should be able to identify the steps that you follow from start to end. Establishing a step-by-step approach clarifies the process and all the steps involved.
With this, you can also provide all the necessary information to your patients, who will know their responsibilities and will have realistic expectations.
2. Use payer websites
Many payers have websites that use real-time information, which is a tremendous help to a billing specialist.
Thanks to these tools provided by the insurance companies, a biller can accomplish many tasks with the click of a button: Being able to access a patient’s eligibility or benefit information, checking eligibility and submitting claims or checking a claim’s status and retrieving explanation of benefits and many many more.
3. Stay educated
Several resources allow billing specialists to stay current and educated in their field of expertise.
We encourage our team to join listservs, sign up for payer newsletters, or to subscribe to billing and coding alerts. These types of things will help billing specialists keep up to date on changes and ensure they’re submitting the most accurate claims possible.
4. Verify your patient’s information.
The billing process starts at the hospital front desk. But the problems usually surface at the end of the cycle—when claims bounce back or patients don’t pay their bills.
Getting it right at the front desk can help keep your billings and collections on track further down the road.
Before you submit a medical billing claim, make sure to verify all important information such as name, insurance ID number, documentation, provider information, and other crucial data.
How will you implement these tips?
Smrtdo Medical Billing is a full service revenue cycle and healthcare analytics company devoted to improving billing, collections and outcomes for healthcare providers and the patients they serve.
Get in contact with us to find out what Smrtdo Medical Billing can do for you.