With the outbreak of COVID-19, the revenue of medical practices has gone to the worst. Due to improper attention towards medical billing and telehealth on the other hand, though there is an increase in the number of patients, but the claims are stuck wherever they are. Yet, slowly, medical practices have been getting back to the new normal, by outsourcing their medical billing services.
Adhering to changing medical billing compliance, let us see how practices stick on to medical billing and coding rules during this pandemic.
How do practices adhere to the current medical billing and coding rules?
American Academy of Professional Coders (AAPC) is the best portal where medical billing companies/practices can get regular updates about billing and coding. This, in turn, increases confidence in aspirants to learn billing and coding and support practices in the future.
Moreover, there must be some strong references before you share the medical billing rules and medical codes in the form of content to your readers. Therefore, practitioners, students, staff, and administrators refer to the information provided by AAPC. Healthcare compliance is something that denotes the compliance under which medical billing also falls.
Irrespective of COVID-19, the regular obligations would be to keep noting medical coding regulations; following federal and state laws for claims submission; translating provisions of HIPAA laws into action, and understanding the rule book of Occupational Safety and Health Administration.
Healthcare technology is the heart of medical billing compliance:
If COVID-19 continues to spread, the medical billing and coding rules may remain unchanged. The entire decision lies in the hands of Office of the Inspector General (OIG), United States, any changes in the medical billing standards is solely governed by OIG. When this is on one hand, physicians find the announcement of COVID-19 diagnostic and treatment codes a game changing aspect, on the other hand.
Medical billing services continue to be on track with respect to compliance standards and return with maximum reimbursements for the services delivered so far. Medical practices have resumed with a high flow of patients after medical facilities are opened and life gets back to the new normal.
Pre-authorization and Medical Billing Essentials:
Electronic claims submission and processing is the latest trend in medical billing because manual submission of claims may have certain drawbacks. Practices can experience fewer errors, high acceptance rates, quicker collections with electronic submissions.
Pre-authorization is a process where you set up a contract with the insurer to pay for certain services before patients avail the particular service. The revenue management cycle of medical billing companies mostly depend on pre-authorization because only it is approved, their rate of revenue grows. This pre-authorization process has a code provided by the insurer, which is called as the CPT code which is not handled properly most times by the medical billing companies. Therefore, medical billing services provider should identify the possibilities of claim acceptance/rejections and what additional documentations be required to process them.
Since nobody knows when COVID-19 comes to an end, we all still live in an uncertain condition, and the forecasting of its related procedures with respect to claims submission, denials management, everything play a crucial role at this moment. Therefore, to deal with such complexities, a strong expertise is required in medical coding and billing for billers and coders.
Zoom application increases and prioritizes the telehealth billing currently, since the app is HIPAA complaint as well and preferred by both patients and practices in terms of data safety and security.
It clearly states that to overcome medical billing and coding issues with medical practices, the best medical billing services partner is an ideal choice, who can handle everything on your behalf and supports you improving your revenue management cycle extremely well. 24/7 Medical Billing Services has been offering the best medical billing and coding outsourcing services to its clients, especially to support during this COVID-19.