How to Select Perfect Clearinghouse for your Medical Practice? - PowerPoint PPT Presentation

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How to Select Perfect Clearinghouse for your Medical Practice?

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The clearinghouse you work with has a huge impact on your business. The more efficiently your clearinghouse processes and returns your information, the faster you will get paid, and the more payments you will collect. – PowerPoint PPT presentation

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Title: How to Select Perfect Clearinghouse for your Medical Practice?


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(No Transcript)
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How to Select Perfect Clearinghouse for
your Medical Practice?
The clearinghouse you work with has a huge impact
on your business. The more efficiently your
clearinghouse processes and returns your
information, the faster you will get paid, and
the more payments you will collect. We came up
with five essential qualities to look for when
researching clearinghouses to ensure that youre
making the best decision for your
business. Excellent Customer Support In order
to select the best option for your facility and
your patients, choose a medical claims
clearinghouse that offers responsive customer
service. For your facility, if your staff has to
wait for hours on the phone to speak to a
representative or wait days for a question to be
answered, it costs you money. Choose a
clearinghouse that allows you to log an inquiry
24/7 and that will respond to you within 24
hours. If you receive immediate acknowledgment
and responses to inquiries while you're
researching a clearinghouse, you likely will
receive the same treatment as a customer.
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How to Select Perfect Clearinghouse for
your Medical Practice?
You can also review the clearinghouse's
commitment to customer service hours and
responses in its contract. In most contracts,
these performance elements are known as Service
Level Agreements (SLAs) and are contractual
commitments, sometimes with penalties. Quick
Claim Status One of the benefits of using a
medical claims clearinghouse is receiving quick
updates once you submit claims. Once you upload
claims, scrubbing them for errors and submitting
them to payers takes minutes. You should know the
same day if claims were accepted or if they need
to be corrected and resubmitted. The longer you
have to wait for claim responses, the longer it
takes before you can correct any errors. Select a
clearinghouse that offers claim status for
individual claims. Reduce delays to improve your
relationship with clients and get paid
faster. Consistency and Accountability with
835s HIPAA requires health care insurance plans
to use the 835 transactions set when paying
providers and to provide an explanation of
benefits (EOB). You should receive an 835 and
payment within a consistent timeframe so that you
can post and reconcile your payments quickly.
Some medical claims clearinghouses take weeks or
months after the transaction is complete to send
835s to healthcare facilities.
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How to Select Perfect Clearinghouse for
your Medical Practice?
Efficient Claim Information Its not enough to
have all of the claim information in your system
you need to be able to use that information
efficiently across multiple staff members, at the
same time. For example, if you can view a summary
of all claim statuses on an 835, your staff can
immediately identify which payments to post and
which claims to reprocess. Additionally, your
staff should have the ability to update the claim
statuses as they reprocess claims or post
payments, so they dont duplicate any work done
on the 835. This enables you to track all claim
activity from a summary report or dashboard
without wasting time looking at each individual
claim. Usability Choose a clearinghouse with
easy-to-use features like humanly readable claim
responses and 835s detailed and customizable
reports hosted in a secure, private cloud and a
minimal number of clicks required to complete
your workflow. Not only do you need all the claim
information accessible n your system, its often
necessary for it to be accessible to multiple
staff members at once. Its key to be able to
train your staff to use your system, especially
as your staff changes or expands.
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How to Select Perfect Clearinghouse for
your Medical Practice?
Find software that meets the needs of your
practice and is easy to access by all the
necessary staff members. Give your staff the
capability to update claims as they post payment
or resubmit corrections so you can view all
activity without having to pull up individual
claims. Other Select a clearinghouse that lets
you verify patient eligibility in real-time and
offers extensive searching functionality for data
access. Look for features like rejection
analysis, secondary claims processing, patient
statements and free summaries of your activity
with the clearinghouse. Working with a
clearinghouse that has these qualities will help
you to simplify your day-to-day processes,
increase your cash flow and help your business
thrive. We at Medical Biller and Coders (MBC) has
experience of working with multiple
clearinghouses. We can help you find the right
clearinghouse as per your billing requirement.
You can contact us at info_at_medicalbillersandcoders
.com or visit our website www.medicalbillersandcod
ers.com to explore complete RCM services provided
by us.  
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