Medical billing can be a very complex and complicated process. Having the right medical biller can make the difference between a smooth process and a severe billing headache. If you bill incorrectly, you may have to go back through the process and repeat steps unnecessarily. Having steps of a billing cycle repeated can slow down the processing of a claim, which can lead to losses in time and money. It is incredibly important to work with an expert medical biller to ensure that your practice is as efficient and profitable as possible. If you or your medical biller follow the steps below, your practice should have everything under control!
Keys to Successful Medical Billing
- Check-in: This is the first step in the medical billing process. There are a few items of information that should be noted and recorded. These pieces of information include demographics, insurance payer information, insurance policy numbers and changes in address or insurance.
- Insurance Verification: It doesn’t matter if the patient is coming back for a return visit or if it is their first appointment; insurance information must be validated and verified at every appointment. This information must be verified due to possible lapses in coverage. A change in this type of information or a change in the policy can impact the benefits that the patient receives. It is incredibly important that you double-check the validity of a patient’s insurance at every visit.
- Medical Codes and Procedures: Using the correct codes for billing purposes is absolutely necessary if you want a smooth billing process. If you read our last article, you’ll already know that CPT codes are updated every year. It’s important to stay on top of the latest codes and trends in the billing sector to ensure proper billing. These codes provide information as to what treatment the patient is receiving, as well as important diagnosis information.
- Data Entry and Claims Submission: Entering the ‘charge entry’ simply refers to charging for the services that the patient received. This data also includes the entry of appropriate medical codes for services and procedures. After this step, the claim must be submitted to the insurance payer. A proper medical biller will have access to all pertinent information about the insurance payer due to the number of variables that each claim can have. Determining how and when to submit a claim can differentiate a good medical biller from a mediocre one.
- Payment: To ensure that the last step in the medical billing process runs smoothly, you must be well-versed in posting and deposit functions. The amount billed to the patient should zero out if it has been paid in full or it will reflect the amount owed by the patient. The insurance payer’s responsibility should be fulfilled by this time.
These 5 steps can help ensure a seamless and pain-free medical billing process. If you or your team need a medical biller with years of experience, contact us for more information about our services. We provide the same function as an in-house biller at a fraction of the cost. We are a one stop solution for boutique medical billing, psychology billing, and mental health billing services. Contact us today!