Most of the medical billing companies have been doing their best to avoid the errors that are made in the billing but still the presence of errors is unavoidable for many reasons. Due to the errors in billing the denial of claims will raise and it will affect the revenue. Therefore in order to maintain and also increase the revenue the medical billing company has to find out the repeated errors and also have to sort out the reasons behind it. Avoiding the errors seems to be one of toughest as the busy schedules to finish the coding and generate billing makes them to lose or miss out some data. Hence it will be helpful for the company to learn the common and most important mistakes to avoid.
Filing claims on time
Most the medical billing companies don’t schedule a time for their claims. Taking more time for filing the claim and delaying it is the biggest mistake to avoid. The deadline should be reached properly otherwise there will be unnecessary issues in the payment. Usually this kind of error is happening more than the errors that cause denial of claims. Either on date or before the date, the bill has to be submitted otherwise it is not possible to get claims on time. Due to this the denial of claims increases.
Reading EOB in a proper manner
One of the most important forms in medical billing process is EOB called as Explanation of Benefit forms. This form is about the payment such as the amount to be paid, amount paid and amount that is not paid and reason for not paying the amount. If the company does not know how to interpret the EOB forms then it will be difficult to get payment on time. The major reason that most of the companies fail to read it properly is that it takes some years of experience to read it perfectly and understand what has given on it. The insurer may pay a part of the amount or delay the payment and the reason will be given in the EOB. Therefore the medical billing companies have to use experienced persons to get it exactly.
Some of the medical billing companies fail to do the follow up especially regarding the claims that are outstanding. The outstanding claims can be paid only if proper follow ups are made otherwise it will increase the outstanding payments. Therefore it is most important mistake to avoid. Don’t forget to do follow up. Do proper follow-up and decrease the outstanding payments.
Clearing house reports
One of the other mistakes to avoid is failing to do clearinghouse reports. The clearing house reports play significant role in the payment of the payer to the billing companies. The billing company has to read all the reports to get proper claims otherwise the unread reports would heap. Only if you read the report, you will be able to find if there is anything to claim. Once the reports are all clear, it will be easy to do follow-up if there is nothing to do on your side and if there is anything that you have to do then you can process it to get the claims soon.