How To Improve Billing At Your Medical Practice In 2020

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Steps To Improve Billing At Your Medical Practice
Img Source - DataMatrix Medical

Every medical office has an obligation to have an efficient patient billing service. This comes with offering patients a positive experience with proper revenue flow without compromising your quality of patient care. Tweaking your billing process through the following steps is necessary by the New Year to maximize revenue, enhance patient billing, and for a stronger relationship with patients.

Tips To Enhance Billing In Your Practice

Improve Patient Experience

The first step to improving your billing is to have an online patient portal with an electronic health record system. This platform encourages patient payments online and on time and with a hub to find FAQs, schedule appointments, and check treatment plans. Additionally, have a chat feature on your site for patients to ask questions when confused regarding getting responses in real-time.

Automating question and answer sessions relieve staff from spending more time on the phone. Ensure to have efficient staff to handle billing questions by giving patients informative details to help them.

Use a Professional Billing Service

When your practice is struggling with document management and patient billing, hiring a team of professionals is a great idea. Effective billing monitoring is part of running a successful medical practice. The ideal billing service should have solutions that focus on offering better services than in-house billers. A professional billing agency will have the appropriate staff and equipment to benefit your practice in various ways including:

• Increase revenue
• On-time billing
• Enhanced collection rates
• Less delays for accounts receivable

Professional and reliable electronic billing services operate with various billing systems to eliminate worry about switching to new billing platforms. Granting this team remote access will give you peace of mind. This will give you real improvements in your billing processes with maximized revenue. You will be in a better position to focus on offering life-changing care to patients.

Educate Patients

It pays to be open to patients regarding the cost of their care. You have to remain consistent with pricing for all levels of care. Involving patients in the payment process makes the billing process easier. Ensure to explain your pricing to patients when applying the treatment. Understanding the treatment procedure and appropriate cost makes it easy for payments to reimburse payments without delay.

Your staff should have open discussions with patients regarding the cost of their treatment. Being on the same page is essential to maintain a healthy relationship with your patients to enhance the billing process.

Efficient Handling of Insurance Claims

Regular checking and filling of insurance claims is part of ensuring smooth billing in your practice. Filling claims daily avoid falling behind and eliminates chances of making costly errors. These encourage claims denials and delays with the insurance providers. Additionally, it is very important to ensure accurate filling of insurance claims.

Coding errors encourage delays that might lead to payment delays and make your practice prone to fraud and abuse charges from insurance providers. Timely and accurate billing and coding are essential aspects of your practice.

Verification of Insurance During Patient Visits

It is very important for your staff to check patients’ insurance cover before, during, or after their visit to your practice. Waiting to call the patient after leaving your office is bound to encourage issues during your billing process . You are bound to end up with insurance errors resulting from false or entering wrong information.

Your team should check the patient’s insurance details on their visit with enough time to verify the information and to ask for corrections where necessary. Verification of patient’s insurance information before and during the visit streamlines insurance and the billing process. Additionally, it allows profit maximization in your practice.

Confirming Patients’ Contact Information

On contacting the insurance providers, it is very important to confirm patients’ contact details. Perhaps the patient might have forgotten to notify your practice of moving to a new location. It is important to know the patient’s new phone number and email address and to update the details accordingly. Equally important is to verify the contact details with the insurance provider and the patient. This ensures that you send billing statements or other appropriate notifications to the right address.

Following-up Patients Who Miss Payment Deadlines

Medical practices desire that all patients make timely payments for treatment. However, this is not always true. For patients who miss payment deadlines, have a system in place to follow up. This requires sending payment reminders to the correct address to ensure that the patient gets the notice. It makes collecting payments easier. Additionally, have a plan to make follow-ups for missed payments through calls and emails.

Wrapping Up

Medical billing is an essential aspect of managing a medical office. Having a streamlined process is essential to enhance patient satisfaction and to enhance revenue collection. Working with a professional team of billers and coders encourages smooth running of operations and gives patients a positive experience.

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