Understanding the medical billing concepts is crucial to make or break your revenue stream. The medical billing process has a significant impact on the overall claiming process from the concerned companies which eventually affects the bottom line. Slow reimbursement, high claim denials, and delinquent accounts make a match to create bigger problems for your billing and claiming process. In order to get rid of the hassle, you need to learn the effective ways to prevent your practice from associated delays in claim reimbursements. Here are some effective ways to configure a high returning medical billing process that will surely help you get through your billing needs.
Ways to improve your medical billing process
Keep the patient’s record up to date
Between appointments and filing claims, patients often make changes in their medical insurance information such as addresses, packages, and other information that directly affects the billing process and filing claims.
Outdated and wrong information often causes delays in the billing process and most of the time claims get denials. To prevent these delays and denials, you need to make an information update cell in your office and make necessary changes and updates on patients’ visits.
For this, tools like NextGen Patients Portal can be used so patients can update their information online. However, the usage of kiosks can allow patients to update their information with the help of a manager on their visits while they wait for their turn.
Improve your medical billing process by processing proper coding and documentation into a workflow.
Accurate documentation and coding rely on a strong and undeniable billing process. The EHR system at your office can allow you to enter documentation and coding during patients’ official visits. But if they are not prompt and added regularly, the necessary requirements on the time of billing can lead to burnout of the system.
In addition, with the help of maintaining regular documentation, building, and coding at a regular workflow, they enable providers to accurately and timely code patients on their normal visits and reduce post-visit work.
When you develop strategies to build a workflow for coding and documentation, prefer including both medical billing staff and coding specialists. Billing staff can help you make documentation and coding and the providers will help in developing the strategies that automatically minimize the burden.
Improve the billing process by implementing the management billing software into practices
The EHR tool is not only one of the useful tools but they help in building your finances. When the tool is combined with the office management software, your EHR tool would make your billing process easy and faster. It also makes fewer errors than any other billing process.
EHR tool also helps with data duplication, manual data, and associated errors. In addition, the practice management system draws accurate information about patients that helps the bill payers get their reimbursements more quickly and accurately. Within the system, it even helps you to earn revenue faster.
Integrate a simple billing function to claim medical bills faster
Human errors happen due to minor integration errors of out-of-date information and errors can delay the process and lead to denials. By automating everything, the errors can be minimized such as typo errors and information mistakes. By integrating and implementing EHR software into your medical billing process, the information of the patient like coding and documentation can be pulled directly to the claim counter.
Patients’ information can also be linked to the insurance payer information which saves more of your billing staff to do repetitive tasks. Once you get into automated insurance coverage, there will be no insurance denial again.
Improve your billing claiming process with targeted training
EHR training and billing claiming process can even reduce denial burnout. It also satisfies the system by documenting and targeting the audience. In addition, targeted training can improve the quality of the dosing and increase the accuracy that the billing department receives.
Improve your billing process with the quality control process
According to rough estimation, up to 80% of the claims have slight errors. This is why a great number of claims receive denials and eventually delay the process of reimbursements.
For the prevention of this, a strong quality check is required to improve the billing process. Many times these practice management systems involve ways that automatically fix the claims with errors from submitting to reduce the denial claims which ultimately reduces the denials and maximizes the revenue cycles.
Improve your billing claims process by tracking your denials
Many times the claim denials done by the major insurers are due to many obvious factors. Some common reasons include inaccurate insurance coverage, late filing, improper insurance information, and inconsistency in data filing.
A specialist in claim filing is responsible to fill the denials and make the necessary adjustments as soon as possible. And then again, by tracking denials, they can be reduced if the prompt corrections to errors are made timely before the claiming date passes by.
Another advantage of tracing denials is the reduction of future claims denials. By tracking your errors and studying the reasons for denials, you can avoid them in future claims, and yet they can reduce your denials percentage that affects your medical billing practice.
Improving the medical billing process by managing negligent claims
When you submit the claims, they should be resolved within 50 days of submitting from the payer’s or patient’s side. Your medical billing officer should be taking follow-ups if the account receivable (AR) gets over 120. As the officer generate payment plans, they should know the reason for these delays.
How can Sybrid MD help you get through your claim denials?
Revenue consultants at Sybrid MD, trainers, and developers can help your billing process move quickly and accurately, leading to a minimum to no denials. From SQL dashboards to frequent billing routines and targeted training, they have solutions to every billing and revenue cycle.
When all you need to make accurate claims and redesign the revenue process while minimizing your billing claim denials, contact Sybrid MD today.