Avoid Medical Billing Errors with Medical Billing Outsourcing
A professional medical billing company has the expertise needed to help physicians’ practices avoid billing errors to optimize revenue collection.
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Proper payment collection is the foundation of any successful business, including health care. Medical billing errors lead to significant revenue leakage and reflect inefficient processes. Outsourcing medical billing to the right service provider helps physicians’ practices prevent billing errors to optimize their revenue collection and bottom line. Let’s look at the common billing mistakes that a professional medical billing company helps physicians avoid. Common Medical Billing Errors
Incorrect patient information: Claims can get rejected/returned due to wrong patient information relating to: gender, name, DOB, insurance ID number, etc. The claim will have to be resubmitted with the correct information.
Transposing digits: Switching the position of two adjacent digits is a common data entry error. For example, transposition errors can occur when entering a patient’s date of birth and will result in claim denials and delays in payment.
Incorrect coding:
Bills submitted with the wrong or invalid diagnostic and
procedure codes will get rejected. ICD-10 has brought about many changes and most procedure codes are updated annually. Coding errors that can occur include appending confusing or conflicting modifiers to HCPCS or CPT codes, and entering the wrong number of digits with an ICD, CPT, or HCPCS code. Sometimes, codes may be left out altogether. Undercoding, upcoding, and poor documentation are other common errors.
Duplicate billing: This happens when the physician’s office submits a claim for a procedure without checking whether that service has been already reported or paid for.
No code linkage: Code linkage means linking the diagnosis code to the procedure code to demonstrate medical necessity and justify payment. If the code linkage does not show medical necessity, the claim will be denied.
Sending the claim to the wrong payer: This can happen in busy offices with a large volume of patients. It occurs when the person entering the insurance data does not have a copy of the insurance card or is negligent when performing the job.
Medical Billing Outsourcing Can Ensure Accurate and Timely Payment Established medical billing companies have teams of qualified and experienced billing specialists and certified medical coders. With an in-depth understanding of medical billing and coding processes, a reliable service provider ensures that physicians get paid correctly
www.outsourcestrategies.com
Phone: 1-800-670-2809
for their services.
These companies provide a comprehensive suite of solutions for
physicians’ offices, which would include:
Patient scheduling and reminders
Patient enrollment
Insurance enrollment
Insurance verification service
Insurance authorization services
Medical coding and audits
Billing and reconciling of accounts
Account analysis and Denial Management
AR management
Financial reports
The skilled medical coders in these companies are up-to-date with ICD-10 codes and the latest CPT codes, and would know how to code even complex procedures correctly. The billing team would be skilled in using electronic billing systems, will enter all claims correctly, and double-check them before they are sent out. They would be also well aware about the rules of leading insurance companies, which will ensure standardized claim submission. If a claim is denied, they will follow up on it, correct any issues, and resubmit it for payment. With their extensive expertise in billing and coding for health care providers, the right medical billing outsourcing company can reduce the risks of costly and time consuming errors on claims. They can streamline billing processes and help providers get accurate and timely reimbursement.
www.outsourcestrategies.com
Phone: 1-800-670-2809