Medical bill collections remain the backbone of healthcare revenue management. However, most providers experience numerous challenges with accurately and efficiently billing patients and other payers. The medical billing process can be nerve-racking for some providers since it involves various healthcare stakeholders and every step to getting paid depends on the previous interaction. As such, healthcare facilities must share information across departments and payers and ensure crucial information is accurately captured in every step.
Despite the long process, effective billing is vital for optimizing healthcare revenue. Here are four common medical billing issues and ways you can streamline and boost the process.
Failure to Capture Patient Information
The medical billing process typically begins at the first point of contact or interaction with a patient and a healthcare facility. During this contact, front-end staff must gather information that forms the foundation for billing and collection.
Getting accurate information begins with patient scheduling and registration. That forms the foundation by which claims may be billed and collected effectively. It’s also imperative that front-end staff verify health insurance status and coverage.
Most claims get rejected for eligibility issues that are avoidable if providers ask the right questions about eligibility. Therefore, regularly retrain your staff on patient registration and remind them to check eligibility status for every patient.
Not Enlightening Patients About Financial Responsibility
The main objective of medical billing is to gather the entire amount of services offered. However, most healthcare facilities often experience challenges collecting payments from patients due to an upsurge in patient financial responsibility.
To increase patient revenue, healthcare institutions must implement financial policies such as estimating costs of services, enlightening patients regarding financial responsibility, and getting some balances during a visit. As a service provider, you must simplify patient bills. Confusing medical bills from multiple payment requests and medical jargon can be difficult for patients to understand.
Using Manual Claims Management Processes
Submitting a claim goes beyond pushing a button. As such, providers must employ robust data collection tools, create effective communication channels among staff and streamline rejections management processes. Automating the medical billing process can assist providers to recover reimbursements from rejections on time. With an automated process, you can identify causes of rejections, manage resolutions and minimize write-offs.
Inaccurate coding is one of the leading medical billing challenges. We strongly recommend that healthcare institutions and providers use regular ongoing training programs.
At Advanced Reimbursement Solutions, we understand that medical billing and coding can be confusing. To learn more about medical billing processes and medical coding, please contact us today to schedule an appointment with our team members in Wilmington or Phoenix.