Improve Medical Billing Collections - Billing Tips

Any medical billing company would like to have on-time collections, of course.  Although, it cannot be denied that there are issues that may hinder this from happening.  To make sure that every billing is paid successfully, you have to work hard and to be organized.  First, do not let a claim sit around for a long time.  Once you have received it, process it immediately and inform the insurance company.  If you take long in processing it, it would also take longer for the payment to arrive.  Follow it up with the insurance company and get a specific answer about when payment will be sent so you could easily inform the patient in case they call or drop by.  

Make good use of the available technology we have nowadays.  Invest on electronic modes of payment and claims.  This is not only convenient, it is also faster.  This method is also more reliable because an electronic machine would easily detect entry errors and missed fields.  It would immediately inform the patient or the insurance company about it so that it would be corrected right away.  

It is necessary to follow-up with insurance companies in a timely manner.  If a payment is expected today and it has not yet arrived, call them up.  If they give another date, follow it up again on that particular date.  If they do not reply at all, try calling them weekly.  Regular follow-ups give the insurance company an impression that you are serious about collecting.  Most insurance companies would do anything to avoid a payment.  Make sure you point out to them that you will keep calling until the collection is sent. 

Incentive Plans in Medical Billing - tips for success

Incentive plans for medical billers are effective but it does not necessarily mean that it has to be expensive for it to work.  There are more affordable options, which are as effective in inspiring and motivating medical billers.  There are things you can do to ensure that the incentive plan will be successful.

First, you have to keep in mind that in a medical billing organization, there are different tasks being handled within and every task, when performed efficiently, will produce good results not only to one but also to everyone in the organization.  You would have to set specific targets so that billers would know what they are aiming for.  Divide the rewards by allotting half of it for team performance and the other half for individual performance.

Second, aim for cost-effective incentive plans.  Employees are most likely to be motivated with cheap plans than those that require them to pay more than they prefer.

Third, invest in incentive plans that target different performances like speed, accuracy, delivery, and more.  Study all these intensively to be able to determine which ones are much needed within the organization.

Fourth, if you have several accounts within a medical billing organization, make sure to take into consideration that not all accounts are the same.  When providing incentives, make sure it is given to each account accordingly.

Fifth, when giving incentive payouts, distribute it as a part of the medical biller’s salary and make sure you adhere to this schedule.  Provide them with a written statement of how much they earned and how much tax was deducted.  

Sixth, make sure your employees understand the incentive plan.  It would be difficult to achieve something when you do not know what you are aiming for.  Post a chart of the incentive plan and post their progress as well.  This way, every one of them is updated regularly.

improve the collection of physician

The Five-Step Process

1. Determine that the service is medically necessary.

2. Provide the service needed in order to properly meet the patient’s needs.

3.Document the service provided. 

4.Select the most appropriate CPT/HCPCS code for the medically necessary service that was provided and properly documented. 

5.Submit the service to Medicare that was medically necessary and documented.

Check Your Records for the Following:

* Records are legible; reasonable clinicians will easily recognize all abbreviations and symbols.

* The patient’s name and the date of service appear on every page of the record (including the back side of double-sided forms).

*The date of service on the record matches the date of service on the claim.

* The medical record clearly indicates the identity and professional credentials of all people who contributed to the service and/or the record, and who contributed which portion(s) of the service and/or record.

* Information in the record clearly supports all diagnoses reported on the claim.