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5 Tips to Improve Medical Billing

Health Insurance Companies Process 1 in 5 Claims Wrong

5 Tips to Improve Medical Billing
Guest post by Erin Palmer, US News University Directory

In this challenging economy, families still need medical care but may not have the means to pay for it when the bill comes due. This can prove challenging for medical billing agencies. In such a climate, medical billing services need to increase their effectiveness and efficiency in order to get the best results for their physician and medical facility clients. Consider these tips to improve medical billing practices:

 1. Use technology as an advantage.

Medical billing services that strive for effectiveness and efficiency may find technology advantageous. By utilizing up-to-date software for medical billing, organizations have the opportunity to quickly determine whether claims are likely to be accepted or denied based on the ever-evolving changes in billing rules for insurance plans, Medicare and Medicaid. The highest quality software automatically updates as rules change, helping medical billing professionals determine new trends in denials and work toward increasing the amount they can collect for clients.

2. Develop and utilize a formal service contract.

Running a medical billing business is just that: a business. It is critical to have all parties involved – the medical facility or physician and the medical billing agency – sign a contract that delineates exactly which parties are responsible for each task, how payment will be made and terms for ending the contract. Having a billing contract emphasizes professionalism and helps protect the physicians and medical billing company.

3. Use business intelligence to identify areas for improvement.

Accurate data mining is one of the best ways for medical billing agencies to improve their level of service and collection. With the innovations in medical billing software, unique reports can be run that provide specific information to assist in decision making and implementing improvements. Most of today’s billing software does offer the option to create custom reports. Once reports have been completed, they can assist medical billing management with increasing staff productivity, adjusting staffing requirements, as well as quickly identifying payment errors.

4. Communicate wisely with patients.

Patient Registration in Medical OfficeMedical billing professionals can assist medical staff by encouraging the posting of all billing information in an obvious location in the patient check in area. By having the terms of payment easily visible for patients, there is no confusion about billing practices of the medical service. This information should include insurance requirements, upfront payments, co-payments and billing procedures.

5. Collect full information.

One of the best ways to help a medical billing agency increase efficiency is to make sure patient information is accurate and complete. Having a patient’s address, full name, birth date, work information and multiple phone numbers is a critical part of the data collection process that will be used both with insurance companies and as part of the collection process, should requests for payment be ignored. Additionally, asking patients for their Social Security number is an excellent practice that can be extremely helpful when cases of non-payment are turned over to a collection agency.

 

Clearly, there are many ways for a medical billing practice to become more efficient and effective. Acquiring accurate patient information, using a comprehensive contract with physicians and medical services as well as utilizing cutting-edge software are all steps to optimize the organization. Incorporate these steps today to see a medical billing agency grow more profitable.

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Erin PalmerThis post was provided by Erin Palmer.
Erin writes about online healthcare training programs and allied health careers for US News University Directory. For more information please visit http://www.usnewsuniversitydirectory.com

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13 Responses to “5 Tips to Improve Medical Billing”

  1. Thank you for sharing some tips to improve medical billing. I never knew that transactions like these exist in hospitals for faster turnaround of revenues to the doctors and hospital staff. You made a good point in getting an up-to-date software for medical billing to best identify whether insurance claims are approved or otherwise and so it’s easy to tell how much a patient will be paying. The way I see it given the changing policies for insurance, it’s best to hand this responsibility over to the experts who will take care of sorting the amount of earnings that a medical staff and doctor should be earning per client. This was such an insightful article to read, thank you!

    Reply
  2. Nice information about the Medical Billing.I have learned many new things thanks for sharing.

    Reply
  3. I liked that you had mentioned that even with medical billing that it can be important to have a service contract that keeps both parties responsible. My wife might need to have an operation done in the coming weeks and we’ve been looking into having the operation done outside of the hospital. If we can find somewhere that offers medical billing, I’ll be making sure that we can set up a contract to make sure that me and the company are both responsible.

    Reply
  4. I like that you mentioned that using the most cutting edge technology can help to increase efficiency. I totally understand how software like that could help to speed the process along. I will definitely keep this in mind for the future, if I am ever in the industry.

    Reply
  5. Thank you for your post!This tutorial is fabulous! Lots of great info including,Medical billing is a central pillar of any health care practice.Although care is the top priority, your practice is still a medical billing services henderson in business. To make sure you’re actually getting paid for the services you provide, you’ll need a knowledgeable, focused and reliable team overseeing your billing.

    Reply
  6. As medical billing technologies evolve, it’s important to remember how accurate patient data is very important not only to the billing company, the healthcare provider, but also the patient! We should strive to give the best experience with healthcare services possible!

    Reply
  7. There are medical companies or agencies that help us in many ways. So thanks for sharing article on improving medical billing. Its really going to help doctors.

    Reply
  8. With the introduction and emergence of the medical software, most of the manual tasks listed above have been improved as most of the medical programs have automation functions. The medical software eliminates some possible human errors, great for data storage, faster data recovery, and seemingly speeds up a lot of medical billing processes.

    Reply
  9. Informative article for doctors. Dealing with medical bills is stressfull work…I am quite satisfy with my billing service providers.

    Reply
  10. This is a great article and I will recommend it to our clients to help their billing.

    Reply
  11. Thank you so much for sharing this article, its just what I’ve been looking for! I’ve never dealt with medical billing before. I’m really excited to see where it goes and what I can get from it, thank you so much for sharing! It a good feeling to know there’s help.

    Reply

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