Every medical provider understands how tricky it is to be compensated for their services. According to 73 percent of healthcare providers, it takes 30 days or more to recover their payment fully. The payment cycle in patient billing is complicated by various issues, such as:
- Changing payer fee schedules,
- Complicated billing procedures,
- Government directives,
- A lack of training and resources, and
- High-deductible health plans.
Furthermore, the critical communication triangle between the patient, the healthcare provider, and the insurance company exacerbates the problem. Medical providers must develop strong systems and procedures to ensure long-term success in order to be paid efficiently. This blog will provide you with proactive tips to enhance patient billing in your practice:
Tip # 1
Accurate Patient Information:
Only correct patient information can lead to accurate medical billing. Through the implementation of medical records solutions, medical billing services must adapt to electronic payment and statements. Periodic reviews of patient information using case management technologies can assist in keeping the information current. This prevents payment delays caused by incorrect information.
Tip # 2
Enhance the Patient Experience:
Improving patient billing begins with improving the patient experience. One such move can be creating an online patient portal via an EHR system.
Not only will an online platform encourage patients to pay online and timely, but it will also provide them with a hub where they can find answers to frequently asked questions, view their scheduled appointments, treatment plans, and more. You can also incorporate a chat feature into your website so that patients can ask questions about patient billing and receive real-time answers. These Q&As can be automated, saving your staff from having to answer billing questions over the phone.
Tip # 3
Verifications and Reminders:
Medical billers can send reminders about their co-pay options to patients and verify patient eligibility using EMR system solutions and clinical coding solutions. This ensures that the medical billing process steps are followed precisely in order to maximize profits. Also, this will minimize the chance of non-payment of services offered, enhancing your practice’s cash flows.
Tip # 4
Stay on Top of Insurance Claims:
If patient billing is a problem for your practice, make sure to check and file insurance claims on a regular basis. Making critical errors or falling behind on claims may cause delays with your insurance provider, delaying charges to the patient.
In addition to filing claims regularly, claims must also be accurate. Miscoding is a common error that can lead to payment delays and potential charges of abuse or fraud from your insurance provider. Coding and patient billing are inextricably linked, making proper coding even more critical for your practice.
Tip # 5
Experienced medical billing services provider can avoid the complexities of medical billing by using accurate coding. Certain healthcare provider solutions include coding software that helps to reduce rejections and resubmissions. Finally, this procedure ensures that medical billers optimize their time through accurate coding.
Tip # 6
Educate your Patients:
Speaking of education, be open with your patients about the costs of their care and ensure that these costs are consistent across all levels of care. The more you can involve your patients in the payment process, the easier it will be to bill them.
Make an effort to explain pricing to your patients during their visit. Many patients still determine how much their treatment will cost, causing payment delays when the bill arrives in the mail. To avoid this, encourage your staff to discuss the cost of care with patients when appropriate openly. After all, communicating effectively is critical to maintaining a positive patient-provider relationship and improving patient billing.
Tip # 7
Patient Bill Support:
A dedicated team of experts can address medical billing requirements, including patient payment inquiries. These specialists also ensure that claims are filled correctly and that minor details are not overlooked. With faster billing and greater attention to detail, reimbursements are expedited, and errors are reduced. Finally, all relevant information and updates are incorporated into their expertise.
Contact the 24/7 Medical Billing Services team to get patient bill support to enhance your reimbursement rates.