Medical Billing Blog with Medical Billing & Coding Info & Articles
Welcome to the Medical Billing and Coding Blog
Welcome to the medical billing blog containing news and articles relating to medical billing, medical coding, ICD, HIPAA and practice management functions.
2004-2024 Celebrating 20 Years of Healthcare RCM Articles
The Blog Currently Contains 1,265+ Healthcare Articles
Deciding to Outsource Your Medical Billing
Time again, we hear the biggest challenge in the medical billing outsourcing industry is simply convincing physicians it would be a good idea to outsource their medical billing and coding to a medical billing company. Some physicians have been burned by doing business with medical billing companies that may have very good intentions and promised great results, but simply didn’t have the on the job experience to handle the myriad of unusual circumstances, unexpected situations, and fast moving changes (some coding numbers can change many times in one year, and a wrong coding number means delays in reimbursements) that can occur in this industry. Outsourcing medical billing is a huge …
If You’re Not Outsourcing Your Medical Billing Claims…..
Did you know that if you are not outsourcing your medical billing, chances are very good you are throwing away about one third of your revenue from your practice. That’s a lot of money to not be collecting. You could vastly and quickly improve your reimbursement rate and collection of funds owed if you outsource your medical billing. Many practices still submit claims via paper, other practices submit their claims electronically but don’t have time to keep up with the coding and billing changes that can occur, many times as frequently as four times per year. Studies show, practices that outsource their medical billing to a medical billing partner that …
A Simple Lack of Documentation
One of the biggest reasons for denied claims or missed charges on your medical billing is simply a lack of documentation. It is never intentional, but in these busy days of patients, phones, and crisis du jour, it happens. Some of the important processing points where this can happen with your medical billing are: At the Point-of-Care: This is one of the most common causes for inaccurate or lost billing is that doctors find it difficult to record all patient encounters at the end of the day. It’s hard to recall every single procedure you performed with what patient. Your medical billing partner can consult with you to help you …
More Reasons to Outsource Billing Functions
Outsourcing your medical billing will remove so many of your headaches in your practice with your medical billing. A sobering statistic about family physicians who do their own medical billing is that they can be suffering a loss of 10%-20% of their reimbursements each year simply due to incorrect coding. It’s important for your staff to understand the documentation guidelines especially for E/M (evaluation and management) services. Your practice probably uses about 30 codes for about 95% of your patient visits per day. Make sure your staff is familiar with those codes that apply directly to your office’s procedures and the documentation those medical billing codes require. It can seem …
Inaccurate Medical Coding Can Cost You
One of the biggest ways a thriving practice loses money is through inadequate and inaccurate medical coding. Either one is a deadly mistake for your medical billing and can result in the following: Partial payment of your medical billing claim – meaning your staff has to stop whatever they are involved in and pull the patient’s file and note whatever has been paid and then spend time discovering why the rest of the claim was not paid. Sometimes it is an accident on the carrier’s part, but many times it is due to bad coding on the physician’s side of the medical billing. Denial of your claim is another big …
