Chiropractors, Streamlined and Efficient your RCM
It is important to remember that the claims reimbursement procedure will begin as soon as the patient will be making his/her first appointment with your practice. There are a few effective office management tips that can be followed to increase revenue and free up more time for quality patient care. You need to ensure that your financial process is streamlined and efficient. This is crucial for maintaining a healthy revenue cycle management (RCM).
Lack of accurate eligibility verification is one of the main reasons why claims get denied. Your staff needs to focus on recording accurate patient data, including provider eligibility and insurance information.
By hiring a chiropractic billing service provider, your office can continue working on patient care without worrying about claims submission and denials. Make sure that you are evaluating the account receivable of your chiropractic office on a regular basis. Averaging less than 45 days in A/R is recommended but it is better to strive for an ideal average of fewer than 30. If there is excessive A/R, then start by separating A/R by insurance and patient balances, identify key offending payers, view monthly reimbursement trends, and try to understand how payer-specific guidelines are affecting your A/R management.
If revenue cycle management (RCM) is getting too much to handle, then it is best to seek expert assistance.
Denials happen but if your practice isn’t analyzing denied claims, then there is a problem. Through this analysis, it becomes easy to identify patterns that need correction. You need to find answers to questions like- are insurers considering the care your patient received as medically unnecessary? Are the beneficiaries receiving care outside their network and not realizing it?
It is very important to ensure that your office is sending clean claims the first time around. Your billers will surely take at least 30-60 seconds more on each claim but if the claims are thoroughly scrubbed for initial submission, chances of denials will be minimized. This is also important because if claims get denied, resubmission will take an average of 15 minutes per claim.
Another tactic to improve reimbursement is by improving coding accuracy. By routinely scrubbing codes before claims submission, chances of denials can be minimized or eliminated. It is better to let a team of experienced coders handle this task.
About 24/7 Medical Billing Services
24/7 Medical Billing Services is the nation’s leading medical billing service provider catering services to more than 43 specialties across the entire 50 states. You can rely on us for end-to-end RCM. We guarantee up to 10-20% increase in the revenue with cost reduction of your practice for up to 50%.
Call us today at 888-502-0537 to know more about how we can help boost profitability for your practice.
Hari Sudan, Media Relations,
24/7 Medical Billing Services,
16192 Coastal Hwy,
Lewes, DE – 19958
Tel: + 1 -888-502-0537
Website – www.247medicalbillingservices.com