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Points of Pain with Medical Billing

 

We all know that the world is not perfect, and really that there is nothing that we can clearly see that is perfect.  With that being said, there are some issues that reside in medical billing. Today we will go ahead and talk about a few of the issues that have been known to be a headache.

Not Collecting all of the Copay

Not collecting the whole amount of the co-pay doesn’t sound harmless, until you’re doing accounts payable down the road.  If the full amount isn’t paid a physician office can turn into a collection agency rapidly.

Doing Electronic Eligibility Verification

There are going to be few patients that know exactly what their insurance covers. Therefore, it is basically a must to have this capability to verify patients’ insurance electronically.Whether or not a patient claims to know the details about their insurance, this should be a test to be completed regardless. If you know what proper insurance a patient has, it will save you a giant headache down the road.

Up to Code?

Billing codes can change on an annual basis, so it is very important to know that you are using the right codes.  It is an insurance’s best interest for you to make mistake, so they don’t have to pay out that money to you.So it is in the Physician’s best interest to be using the proper codes, and make sure you’re maximizing all your services to get paid the full amount due to you.

Improper Entry and Duplicates

The only way to fix this error is to be very careful when you are entering information into the system. Just the slightest error of the wrong letter or perhaps an extra number can end up costing you hundreds of dollars. Not only can one those of the mistakes cost you, but accidentally entering in an entry twice can throw off your books.

Since 2003, STAT MedCare Solutions has been an expert in Provider Enrollment, Licensing, Rate Negotiation, and other Credentialing-related services.  STAT’s mission is, “Providing Client Services on a foundation of Trust and Integrity.”  We stay on top of teaching, training, and equipping to properly manage the workplace as an industry expert.  STAT has submitted/renewed 250,000+ licenses submitted more than 10,000 appeals, and renegotiated more than 3,000 contracts. STAT services practices and organizations who are start-ups, surviving, experiencing (rapid) growth,  or maturing Enterprise clients. Contact our Sales team for a free consultation at 877-887-1784, Ext. 505

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Have a Good Day from everyone at STAT!

Resources:

http://blog.omnimd.com/blog/10-pain-points-regarding-medical-billing