Verify if You are in Control of Your Orthopedic Billing

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Verify if You are in Control of Your Orthopedic
Billing
Orthopedic Billing is one of the most important
functions of a practice's revenue cycle. With
proper checks during billing, a practice can have
regular income without any delays, thus
minimizing stress and cash flow issues. It's
important to keep several checkpoints in your
medical billing cycle to ensure billing is done
effectively and to minimize the chance of claim
denials. Following are some of the
checkpoints Recheck Patient Information It's
better to reiterate a patient's details such as
the spelling of the patient's name, and their
date of birth that is easy to misspell or
overlook. All these minute details, if gone
wrong, may result in the rejection of the claim.
It's important to train your front desk or
administrative staff to take a minute or two and
review all the details that your patients fill
out to make sure the information that is received
is consistent with what will be processed on the
claim.
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Verify if You are in Control of Your Orthopedic
Billing
Verify Insurance Coverage To keep
your orthopedic billing efficient and profitable,
it's important to take time and verify all the
aspects of insurance. Ensures your patients have
active coverage for the medical services you will
be rendering. Verifying the insurance coverage
can save your time, effort, and money by
preventing coverage issues and claim denials.
Also, make sure you understand the reports send
by their insurance company so that you are aware
whether or not their policy covers the kind of
medical care you are providing. Get a copy of
the Patient's Insurance Card Even if the
patient states that insurance hasn't changed,
it's a good idea to ask for a copy of the
insurance card. Keep an updated image of both
sides of the card in your electronic health
record which will also provide informational
backup in case someone mistyped insurance
information in the record. Contact the insurance
provider It's advisable to contact the
insurance company directly to verify eligibility
data instead of taking the information on the
card at face value.
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Verify if You are in Control of Your Orthopedic
Billing
Timely Claim Filing Be aware of the deadlines
to fill the claims. Create a process, standard
procedure, and a checklist to ensure the claims
are submitted within the deadlines. Meeting these
deadlines may create that difference between a
paid claim and a denied claim. Use specific
codes Many a time, claims are denied on the
grounds that the codes used are not specific
enough. Not only does your practice should use
the correct codes for procedures and services but
should also have as much information as possible
documented to justify the codes selected. A
switch to ICD-10 requires coding to be more
specific in order to be paid, that means if your
orthopedic billing and coding procedures are not
compliant with the new system and coding
standards, you will not be paid completely for
your services. Be sure that your billing staff
and providers have the necessary expertise and
resources required to document and code
accurately and with the highest level of
specificity for your claims. Outsource
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Verify if You are in Control of Your Orthopedic
Billing
It may seem as an additional cost but outsourcing
the management of your practice's billing
and revenue cycle actually decreases costs while
increasing the revenue stream. It saves your
practice and staff time and effort for re-filing
claims that have been denied. Outsourcing your
billing management can actually save you from the
slowdown that occurs with an in-house billing
staff such as off-days due to vacations and
illness and also protects you against the hassles
of employee turnover. To ensure you are
compensated properly for all the valuable work
you provide, your medical billing should be
completed accurately and in a timely
fashion. Medical Billers and Coders (MBC) is a
leading medical billing company providing
complete revenue cycle services. To know more
about our Orthopedic billing and coding services
contact us at info_at_medicalbillersandcoders.com/888
-357-3226.