Medicalbillersandcoders.com billing services has recently become the preferred choice amongst a high number of Chiropractors across all 50 US States, to reduce AR days and avert escalating denials. This is mainly because MBC experts with vast industry knowledge can completely focus on optimizing billing and collections, equipped with their intricate understanding of Chiropractic billing.
Challenges which may delay Chiropractor payments-
- Various different injuries which require to be treated, multiple patient issues and therapies all eventually result in overwhelming billing concerns which need to be tackled appropriately
- Constantly changing billing regulations and coding recommendations poses another challenge, hence needing someone experienced in pain therapy billing, to handle the claims accurately
- The topmost challenge for most Chiropractors’ is creating a positive culture amongst the practice staff and provide proper training to help attain a consensus between employer and employee in order achieve complete accuracy in medical documentation and billing
- Practices need to alter their billing to the changing payer environment and its various challenges such as declining reimbursements, decreased Chiropractic patient benefits, higher out of pocket expenses for patients, fear of potential CMS and other payer audits. This makes it essential for the medical biller to be completely educated on coding, billing and documentation requirements
- The earlier business model is not applicable anymore for running a healthcare business in 2013 and the Chiropractor practices require to regularly update all its systems especially the billing, operating and financial systems to improve their bottom line
- Primary billing challenges due to which Chiropractors payments get denied or delayed are – modifiers, incorrectly reduced codes, incorrect payments, claims in review for an excessive amount of time, coverage issues (pre-existing condition, no coverage, lapse of coverage, no chiro benefits) and insufficient documentation
MBC Chiropractic billing experts believe as change is constant – streamlined billing and updated technologyis the answer to help resolve most of the above challenges. This would help insure minimized risk, due to improved documentation, scheduling and billing systems.
Resolving the Problem with MBC billing services …
MBC Chiropractic billing experts reduce AR days and denials by ensuring-
- Completed forms and documentation before filing claims
- Properly done insurance verification to eliminate increased A/R days
- Regular updating of all the new payer regulation and norms
- Evaluation of the practice set-up and assisting the Chiropractor to ascertain the areas which require technologic up-gradation to improve documentation, etc.
MBC experts also regularly undergo training to be able to provide the highest level of billing and collections service. Being experienced in handling various insurers and with knowledge about the latest chiropractic billing procedures and codes, MBC team easily help procure maximum reimbursements.
MBC also customizes their services to fit the chiropractic practices billing needs, helping the practice save money and also optimize the patient’s health.
Claim denials are experienced by every medical practice; however, the percentage varies on the basis of how effectively medical billing tasks are handled. Providers can bring down denial rates below 5% if they invest time and money in improving their billing performance. It will not just improve their revenue cycle and increase their cash flow but also decrease staff costs.
Common coding and billing mistakes that must be avoided:
Have you ever tracked the cause of claim denials? There are certain preventable errors within the practice that result in denials. Apart from input oversights, manual errors and time constraint, there are some common medical coding and billing mistakes that need to be sorted in order to reduce claim denials.
- Every diagnosis will have to be coded to the highest level for that code to make the claim specific. A dialog needs to be started between billers and coders and quality training should be given to them so that errors can be avoided before claim submission
- Documentation will have to accurate to ensure there is no missing information (date of medical emergency, date of accident etc.). Lack of supporting documentation and missed fields cause denials and double the time it takes to turn around a claim. So, all claims should be examined clearly before submission
- Timely claim filing is vital for improving medical billing procedure. Every payer operates on a different deadline schedule so practices need to be attentive. For instance, the claim-submittal period for Medicare providers has been reduced from 15-27 to 12 months
How can practices avoid these mistakes?
Practices need to invest time and money in choosing and buying the latest software that can help identify claims with maximum chances of denial. Billing software will not just improve collection speed but also decrease the workload of in-house staff.
A well-trained team of in-house coders and billers will have to be in place for handling the complexities of coding and billing reforms. From handling ICD-10 to ensuring HIPAA compliant billing, quality training will have to be given to the team so that minor mistakes don’t lead to denied claims. For the same, physicians will either have to hire expert coders or conduct training for the existing staff.
Physicians will also have to spend more time on making sure that documentation is accurate because only then error-free coding will be possible. Staff will also be required to identify and document reasons behind every single claim denial. This will help in avoiding the same mistakes for future submissions. Policies and processes will have to be constantly updated to eliminate any chances of errors.
At Medicalbillersandcoders.com we help practices eliminate the headache of hiring and training coders and billers. We have the largest consortium of expert billers who will handle your medical claims, insurance needs and provide customized billing services. Our team will conduct an examination of your medical resources and suggest the best solutions in terms of consultancy or medical billing services.
2013 brought new changes to orthopaedic billing and coding, making timely reimbursements even more daunting for physicians. At a time when reduction in fee schedules and Medicare cuts have affected the financial health of orthopaedic practices, preparation for ICD-10, compliance to new technology and dealing with varied payer mix has increased billing challenges for them
Are these billing challenges eating up your revenue?
Due to time constraint and lack of skilled staff, a significant number of insurance claims get denied and are not re-submitted for appeal, disrupting the cash flow. Billing has become daunting for orthopaedic practices due to various factors including:
- Various procedures are used by orthopaedics to treat different conditions and diverse payers value and interpret these conditions differently
- There has been extensive revision in orthopaedic coding in 2013 with 500 code changes in orthopaedic surgical coding along with a complete overhaul of nerve conduction study codes, new spine fusion code and two new sets of elbow and shoulder revision codes.
- ICD-10 will make coding even more complex and small orthopaedic practices with limited resources will be the worst hit
- Patient numbers are rising and a hectic schedule is leading to errors in documentation, coding and billing
- Considering cash flow issues, practices are not able to hire expert billers or invest in the latest equipment and technology
How can you overcome these challenges?
Physicians handling the operational and clinical procedures are left with very little time to balance between the rising billable targets, new coding, billing changes and patient care. Orthopaedic procedures are expensive and since a small error can lead to huge revenue losses, outsourcing your billing services can reap benefits for your practice.
- With streamlined billing services your account receivable will be managed effectively
- Your income will improve as experts will be performing round the clock claim processing
- You will get to enjoy easy access to patient date and other financial information
- There will be transparency in the revenue cycle
- A secure network will be solving issues related to billing
- Quality assurance checks will be performed on a regular basis
- You will be able to access timely progress reports of a filed claim
If you outsource your billing services, your practice will have a team of experts entirely focused on managing your revenue cycle, dealing with unpaid claims, solving any billing or coding issues and offering you timely feedbacks and reports.
Billing partners such as Medicalbillersandcoders.com have an expert team that offer quality billing and coding services to orthopaedic practices across 50 states in the US. MBC not only helps orthopaedics identify billing challenges caused by healthcare reforms but also offer remedial solutions for tackling underpayments. Our aim is to help you reduce the impact of coding and billing changes on your revenue cycle. While our team of experts handle the headache of claim filing, denial management and follow-ups, you can give more time towards quality patient care.