Another week down, but only as far as the Gregorian calendar is concerned, because time is more subjective at Power Your Practice.
We’ve worked to curate a set of articles that relate to present and future conflicts within the medical billing world, and as usual, we’ve presented a number of very adaptable solutions for your practice.
Life was more leisurely in the 1980s. Most healthcare providers handled their own billing – physicians set fees for treatment and sent bills to insurance companies, who in turn paid the bill. Paper wasn’t a swear word yet, seeing as little technology was needed.
If you’re reading this, however, you know today’s healthcare world consists of rigid and complicated coding rules, and fees for each procedure endure an oft-heated negotiation process. The administrative burden is overwhelming for physicians, who more than ever are turning to medical billing companies for help.
Cash flow is vital to the success of any practice, so completing the billing process in a timely and efficient manner means submitting claims correctly and receiving proper reimbursement.
“There are many things a medical biller can do to help them stay current on changes, as well as to ensure claims are billed and processed correctly,” said Ellen Risotti-Hinkle, a billing and coding consultant for VEI Consulting, and member of AAPC. “I’m amazed by some of the things medical billers should be doing, but aren’t.”
There comes a time where you should probably stop blaming payers for medical billing mistakes, especially if your claims denial rate is higher than the 4% the MGMA touts as an efficient benchmark.
What does your practice’s denial rate look like? While mistakes in processes as tedious as medical billing will continue creeping up on you, there is plenty of hope for those of you wishing to wean off the Ibuprofen.
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