Your medical billing methods are one of the most critical functions in your orthopedic practices. Private orthopedic billing and coding process keep revenue rolling with minimal delays, reducing cash flow difficulties and reducing stress for your practice. However, denials can be one of the essential issues orthopedics practices face, and failing to take measures to prevent denials can be costly for your practice. Here are some medical billing and coding tips your practice needs to follow to minimize the risk of rejections and survive Orthopedic billing issues
Stay On Top regarding Latest Codes
Every year the American Medical Association (AMA) attains new changes to the Current Procedural Terminology (CPT) codes, and it’s vital to make sure your practice stays current on the most advanced coding updates. If you’re arranging your billing and coding in-house, securing your billing and coding specialists to educate themselves on the most advanced codes is required. Having your coders up-to-date on recent coding changes may need investment, but it’s worth it to make sure they’re current on regulations, so you have a negligible additional risk of denials.
With significant changes arising out for the new budgetary year, orthopedic practices need to catch up to speed on those new codes as swiftly as possible.
Be Informed of and Avoid the Common Denials
It’s also essential to make sure your orthopedic practice is aware of the most common claims denials so you can avoid them. For example, one of the biggest reasons orthopedic procedures encounter rejections is for duplicate claims or services. Another apparent reason for claim denials is the cost surpasses the fee program.
Make sure your service tracks the root causes of the most common denials. Then you can put methods into place to prevent those denials in the future. These are some of the best actions you can use to avoid denials include:
- Making sure that patient data is correct when it’s received
- Remaining diligent about insurance verification
- Operating with an automated billing service
While Outsourcing is the Key
In many cases, deciding to outsourcing orthopedic billing and coding can increase your revenue stream while reducing costs for your practice. It usually protects practice time with re-filing or appealing claims denials, which can be expensive. On the other hand, assume you’re looking for ways to increase revenues, maximize profitability, and reduce your overhead costs. In that case, outsourcing to a company skilled in orthopedic billing and coding may be the right choice for your practice.
With 24/7 Medical Billing Services, proper billing needs to mention every single code accurately. To ensure the billing is on the right track, we have proper ICD-10 coding that has helped our clients achieve high productivity in billing for their orthopedic specialty.
Advantages of ICD-10:
- ICD-10 coding has totaled 15,000 new codes
- We assist you to cope up with new billings and bone displacements
- Doctors get more extra time to concentrate on treating instead of billing the patients
All these terms are complex to be consolidated into a simple invoice. But they can be defined with the help of codes that are set for specific bones.
Why 24/7 Medical Billing Services?
- We endeavor for excellence, unlike any other billing services in the industry.
- Our services assure growth in revenue.
- We offer various services under one roof.
- We provide high-quality software exclusively.
24/7 Medical Billing Services, we’re happy to provide complete claims management services and additional add-on services to help your Orthopedic billing issues with revenue cycle management and more.
Call us at +1 888-502-0537 now to experience our orthopedic medical billing services or visit 24/7 Medical Billing Services for more info.