Tips to Increase Your Ambulance Billing
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• A silent killer of the ambulance business today is revenue cycle mismanagement. This occurs due to ambulance companies focusing on patients to save lives, and as they get too busy in handling this aspect, the revenue process of collections becomes an after-thought. • In the ambulance business, reimbursements are decreasing from insurances (private and public), business costs of medical care are growing, and with increased federal government involvement, compensations are getting affected.
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Revenue Cycle Management • It is important to ensure that ambulance services possess a RCM team which can take on the responsibilities for accurate and timely collections. The claims management team must be proactive with the payer team and check on the reimbursement changes. • There should be no delay in Accounts Receivables (A/Rs), and these must be reduced on a continued basis along with an increase in accurate and timely compensation.
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Compliant billing • Many times outsourcing is a better option than in-house billing. The outsourcing team is well trained with the nuances of ambulance billing and usually leaves no room for mistakes. They manage to obtain the maximum reimbursement possible from the insurance payers. • They also help in avoiding overbilling along with correct reporting in comparison to expenses and payments. Due to compliant billing, overpayment is also mitigated.
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Focus on unpaid bills • Ambulance companies also need to concentrate on unpaid bills which helps them break-even in their operations. They need to keep a tab on the security requirements and other regulatory impediments for optimum healthcare. Incorrect data entry or coding inaccuracies can make the business lose thousands of dollars. • The accounting team needs to track every dollar and ensure that the collection rates are pertinent. Best practices and reviewing of procedures must be followed in the billing and coding arena.
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FOR MORE TIPS TO INCRESE YOUR AMBULANCE BILLING CALL US NOW ON TOLL FREE NO. 888-357-3226
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