Common Medical Billing Mistakes Practices Make - PowerPoint PPT Presentation

View by Category
About This Presentation
Title:

Common Medical Billing Mistakes Practices Make

Description:

Billing errors are the common reason due to which a medical practice loses money. Some of the top billing mistakes one must avoid are missing claim information, incorrect codes & incorrect patient information. Having a dedicated medical billing team is important to correct these errors. Have a look on the given presentation to know the solution. – PowerPoint PPT presentation

Number of Views:38
Slides: 11
Provided by: prmbilling
Category: Other

less

Write a Comment
User Comments (0)
Transcript and Presenter's Notes

Title: Common Medical Billing Mistakes Practices Make


1
Common Medical Billing Mistakes Practices Make
2
  • Your medical practices first priority is to
    your patients. Your top goal is to deliver the
    finest standard of care you can offer. Your next
    concern is for your business to be a profitable
    one. After all, you have student loans, payroll,
    malpractice insurance, and many other expenses
    related to your profession.

3
  • Thats why its important to avoid many of
    the common medical billing mistakes practices
    make. After malpractice claims and expenses,
    billing errors are the most common reason that a
    medical practice loses money.

4
Top Billing Mistakes to Avoid
  • Any enterprise wants to maximize their profit
    margins while minimizing their losses. Because
    billing mistakes are the number one reason for
    losing money in a medical practice, the key is to
    avoid them in the first place.

5
  • Lets consider the three top billing mistakes
    you want to avoid.
  • 1. Incorrect codes. Accurate coding is
    imperative to claims being processed in a timely
    manner and to ensure that claims are paid. One of
    the greatest barriers to achieving this is not
    being up-to-date on coding. If you use an
    outdated code or your medical biller enters the
    wrong code, the claim will likely be denied.
    Familiarity and utilization of the most recently
    updated codes are the keys to claims receiving
    expedited payments and reimbursements.

6
  • 2. Missing claim information. Claims must be
    correctly and completely filled out to be
    considered. Its very easy to make a mistake and
    also one of the most common reasons for rejected
    claims. The date of the occurrence or reason for
    seeking medical care is the most common missing
    item on claims that are denied. Its important to
    address each missing field on the required
    documentation.

7
  • 3. Incorrect patient information. This
    includes the patients date of birth, sex, and
    name. You want to be sure all fields are provided
    with the correct information, and that all
    required items are spelled correctly. You also
    want to pay particular attention to entering the
    correct policy and insurance information. If the
    patient has a secondary insurance, its important
    to file with the primary and lists it as such.

8
The Solution Towards Better Reimbursements
  • The solution is to prevent the mistakes that
    cause the most common medical billing errors.
    These errors can affect your bottom line as they
    can cause you to lose money in your practice.
    Having a dedicated medical billing and
    collections team is important to correct this
    problem.

9
  • Professional Reimbursement Managers (PRM
    Billing) has the expertise to help ensure the
    financial health of your practice. By utilizing
    our services, we can help you to achieve a higher
    stream of revenue. Many practices utilize
    software packages to implement their Medical
    billing system. However, we understand that a
    billing team that is focused on customer service
    gets better results.

10
  • Our certified coders are up-to-date on coding
    and we have experienced account managers and
    Medicare specialists on our team. Our expert
    staff is able to navigate through many of the
    common issues facing medical billing. We can help
    you achieve maximum reimbursements in your
    practice. Contact us today to learn more.
About PowerShow.com