5 Advantages of Using Orthopedic Billing Outsourcing Services

1
(No Transcript)
2
5 Advantages of Using Orthopedic Billing
Outsourcing Services

• Orthopedic billing is a crucial process of any
  orthopedic practice. To keep your practice
  running smoothly by minimizing claim denials and
  cash flow problems, It is important to keep in
  mind a few aspects while billing
• Double-check patient information,
• Verify insurance coverage,
• Use the right code and
• File your claims quickly
•  
• How Does Orthopedic Billing Work?
• Orthopedic billing begins with proper
  documentation before, during, and after a
  patients visit. Its important to pay proper
  attention to coding during the full extent of
  services. Why?
• One, for maximizing reimbursement and minimizing
  claim denials and
• Second, for year-end service cost analysis
•  

3
5 Advantages of Using Orthopedic Billing
Outsourcing Services
Simple errors like missing or incorrect patient
information such as name spellings, date of birth
can result in a rejected claim. Apart from
errors, its important to know insurer
preferences and deadlines. With ICD-10, coding
has become more precise than ever. So, its
important to train your staff completely on the
changing rules, regulations, and practices to
avoid severe fees and penalties. If orthopedic
billing and coding are mishandled or small
details are overlooked, it may result in
disastrous consequences for practices. Even small
errors or inefficiencies may lead to
reimbursement delays and denials or audits. No
doubt, failure to comply with payers is less
detrimental than compliance with HIPAA and state
regulation. Orthopedic provides an extensive
range of services for patients that includes
injury prevention, correction in the joints,
muscles, and ligaments, etc. When it comes to
handling medical billing and coding services, it
surely translates into a complex process. But if
you have no time to train your in-house staff or
feel that your billing management is too complex,
its advisable to outsource your orthopedic
billing services to reduce your stress and
increase reimbursements.
4
5 Advantages of Using Orthopedic Billing
Outsourcing Services

• Advantages of using Orthopedic Billing
  Outsourcing Services
• Outsourcing your billing to Orthopedic Billing
  professionals with the experience and knowledge
  of perplexities of orthopedics eases all your
  efforts required for updating your staff and
  systems. These professionals have the required
  knowledge of the complex rules utilized by
  carriers to adjudicate claims and the
  ever-changing CPT codes and associated modifiers
  applied to ensure proper reimbursements.
• With certified medical coders and Orthopedic
  specialized billers, these billing services can
  help you identify past billing problems and
  denied claims. The professionals evaluate the
  underpayments and submit claims appeals with
  correct documentation. The bill appropriately
  using correct ICD, CPT, and modifier codes,
  ensuring maximum reimbursement.
• Outsourcing billing services help in reducing the
  overall cost of regular training and education of
  the staff, ensuring the staff focuses on the
  tasks they are more experienced and comfortable
  at, and providing valuable care to the community.

5
5 Advantages of Using Orthopedic Billing
Outsourcing Services

• Since all the information and coding of all the
  charges are correctly processed at the very first
  time, reimbursements are quick and your practice
  gains the added benefit of lower than industry
  average accounts receivable balances.
• Apart from that, these trained and experienced
  professionals track each claim meticulously until
  the payments are received. They do the required
  A/R follow-up with payers and patients.
•  
• Outsourcing your orthopedic billing services can
  actually increase your net revenue and ensure
  that you receive the maximum amount covered by
  the insurance companies while minimizing any
  out-of-pocket expenses for your patients.
• Its important to be sure that the company you
  hire understands the orthopedic specialty while
  getting you every dollar you deserve!