Medical billing errors are easier to avoid than they are to rectify. A series of miscalculations, incorrect filings, and other shortfalls can stagnant revenue and lead to financial problems. The billing staff needs to be knowledgeable and efficient to avoid an issue.
Verify and Reverify Insurance
It should be standard practice to verify a patient's medical coverage when they schedule their visit, but this verification should not be the last one. On the day before, or the day of, the appointment, you should once again verify their coverage. This step is essential if the original verification date was in the previous month, as insurance coverage changes usually happen at the start of each month.
Create a Schedule
Once there is a pile-up of unpaid medical bills—there is a problem. While you cannot technically force an individual to pay on time, you can set up a system by which you regularly remind patients of their unpaid bills. For example, a schedule that involves past-due calls to patients every Thursday is helpful because it lessens the likelihood that these unpaid bills will be overlooked.
An insurance company cannot pay a medical office until they file a claim. For this reason, the claims must be submitted to the insurance providers regularly. How often an office should file varies. Larger offices may need to file claims daily, while smaller offices may only need to do so twice a week. Whatever the schedule, stay consistent so that your claims are also paid consistently.
It might not be the most comfortable practice, but it is necessary to set up a few non-negotiables. To keep your billing records accurate and work towards optimal cash flow, patients should be required to pay their copays on the same day their services are rendered. In terms of past due bills, patients may be imposed late fees or prevented from scheduling further appointments until a reasonable attempt to pay their bills is made.
Depending on your practice size, location, and other factors, access to a skilled on-site medical billing team might not be possible. Yet, this does not mean that you have to settle for billing errors. A medical billing service can handle all your practice needs offsite to ensure your quotas are met, bills are filed and paid on time, and your practice has the revenue to remain functional.
Keep all these proactive tips in mind and be sure to consult a medical billing service provider if you need assistance.