Each year, the health industry loses several billions of dollars, and two of the greatest factors are fraudulent and improper billing. Little mistakes in billing add up to be a major detriment to a medical practice. One little mistake can cost you a lot of time and money in order to ensure you are compensated for your services. In order to avoid this headache, here are some of the ways in which you can catch errors before they leave your practice.
Diligence with the Digits
One of the most common mistakes that billers make when sending claims to insurance companies is completing a form with incorrect information. From the patient ID number to the actual billing codes themselves, even one simple mistake can cause your claim to be rejected. To avoid this, be careful when entering the information, and make sure to double check to make sure that it has been completed properly. Making sure the numbers are all correct on the form will ensure that you get properly compensated.
Linking the Codes
Linking the correct diagnosis codes with the correct procedure codes is necessary to prove the necessity of the services that you provide to your patients. This way, insurance companies are informed about exactly what you are charging and why the procedures were necessary for the patient. And as before, make sure to double check that you are assigning the correct procedure codes to link with the diagnosis codes.
Always stay informed on the different trends in billing and coding. Coding especially frequently changes. New codes are created, while older ones can fall into irrelevancy. To make sure you are getting the most money for your services, you need to stay in the loop with new protocols in coding. Make sure you know the changes and how they will impact your processes.
One major way to avoid errors is maintaining communication within your practice. If you have an in-house billing team, make sure that they are educated with the proper protocol for billing and coding practices and that they know how to keep up with emerging trends. By keeping open clear communication in the office, more people are able to catch mistakes and question potential errors in the billing.
Since mistakes in billing account for significant losses within the healthcare industry, it is important that you protect yourself from these careless errors to make sure that your practice does not suffer financially. Click here, to learn about how to avoid the biggest mistake a biller can make.
Many practices will opt to hire professional billing companies to completely remove this burden from them. For more reasons as to why a professional billing company may be the best option for you, click here.
Tyler Vogelsberg graduated with a Bachelor’s degree in English and a minor in Psychology. He spends his time editing children’s books, writing freelance, and finishing his own novel. When he’s not working, he either has his head in the clouds or in a book, or he is spending time with friends and family.