Effective medical bill collections results in a quick resolution of your claims. Sadly, most practices ignore the fact that timely claim follow-ups can make a huge difference in getting paid. In well-established practices, follow-ups begin as early as 7 days after submitting claims for payments. These businesses understand that immediate efforts reduce accounts receivable days and boost their cash flow.
The good news is that you can borrow a leaf from these practices. You may not have adequate staffing due to limited resources, but here’s what your medical billing specialist can do to make your follow-ups more efficient.
Be Prepared for Initial Contact
Make sure you have all the necessary information before getting an insurance representative on the phone. This means thoroughly researching the account to help you ask proper questions. For starters, make sure you have the insured’s personal details, like date of birth, policy number, etc. And while on the phone, strive to get information about the insurance representative. Be sure to get his/her name, employee ID number or extension number and a call reference number before hanging up. This will make it easier to provide feedback when you make subsequent follow-ups.
Ask Several Questions
The main goal of medical bill collections follow-ups is to determine when to expect payment. If 30 days have elapsed since you submitted the claim for payment, the insurance representative should provide a reason for delayed payment.
At the end of your conversation, you should have detailed information about:
• Status of the claim
• Payment schedule
• Payment process
• Amount of payment
• Check number
• Reason for delayed payment
• Medical records needed
Sometimes, insurance companies find ways to delay payment, so don’t be afraid to challenge their representatives. For instance, don’t let them get away with bogus information when discussing claims. Instead of giving up, ask to speak with their supervisor or someone of authority.
Take Appropriate Actions
After finding out the status of your claim, take the right steps to speed up the process. The action you take will greatly depend on the reason given for delayed payment. Fortunately, most medical billing specialists know how to resolve them.
Involve the Patient
Most practices avoid this strategy, so use it as a last resort. Find creative ways to get patients involved without bothering them.
Sometimes, medical bill collections need follow-ups to yield quick results. How you conduct the follow-ups can expedite your claim payments or cause more delays, and these simple tips can help. Want to learn more? Turn to Advanced Reimbursement Solutions to speak with an experienced medical billing specialist in Phoenix or Wilmington. Contact us today to set up your appointment!