If you are a therapist, especially one just beginning to practice, you may have some questions when it comes to learning how to bill insurance companies. There are a lot of things to learn, including: how to submit CMS 1500 forms, how to set up ERAs and how to use a clearinghouse.
Beginning The Billing Process:
To begin, however, you will need some information about your patients. First, you will need required demographic information like their full legal name, date of birth, address and gender. You will not usually need their social security number, any case notes, or their phone number/email address (although you will probably want this information regardless).
Required Insurance Information:
Keep in mind that there is also some required insurance information you will need. This includes your patient’s subscriber ID with an alpha prefix. Because of this, make sure you record all letters and numbers in the subscriber id, not just the numbers themselves. You will not need the group number, however.
It may be simplest to snap both a front and back photo of the insurance card of your patient. This will make sure that you have everything you need for your records. You will want to make sure you can gather as much eligibility and benefits info as possible, so as to verify claim status and payment amounts.
Another good tip regarding psychiatry billing is that it may be beneficial to hire a billing specialist. The Psych Biller can create a virtual billing office for your practice that allows you to retain control as well as keep costs low. If you are a psychiatrist struggling with billing issues, look no further than The Psych Biller.