Insurance reimbursements are decreasing and operating costs are increasing, can make it a challenging time to manage a practice. Whether your practice has decided to do billing in-house or outsource it through an agency, getting paid while maintaining a relationship with your patients can be a balancing act at times. There are definitely some things to keep in mind in a practice to ensure that your practice is getting paid while still having the patient’s best interest in mind.
In Part One of this post, we went over the importance of keeping detailed documentation and filing the claim on time.
3. Update Patient Information Regularly
Sure, this may be a no brainer but it is important to keep the patient’s information up-to-date. The patient may have changed insurances or policies and not think to inform you. Being sure that your office has the most up-to-date information can avoid claims being rejected since you are able to verify the patient’s coverage and eligibility for specific services each time that service is provided.
4. Track Your Claims
Once a claim is filed, it should be tracked and kept up with on a regular basis. That way if something does come up like the patient changed their policy it can be fixed and adjusted before the time limit is exceeded.
5. Verify all New and Potential Patient Information Directly
It may be nice to not need to go through all of the patient’s information with them directly since you were able to look up their information from their insurance member number, but this information needs to be verified. If it was put in the system incorrectly or their information has changed, it is important to verify with the patient to avoid any problems with their insurance company.
Read Part One Here: https://mmiclasses.com/billing-tips-practices-part-one/
Stay tuned for Part 3!