5 Things Billers Do to Save You Time
Medical billers provide many services. They check eligibility, verify coverage, submit claims, follow-up on denials, follow-up on rejections, post-payments, and report on the financial health of a practice. But what kind of impact does a biller have by taking on these roles? The answer to this question depends on whether you see time as an asset. We certainly do, so here is the impact a biller can have on your time by doing 5 key billing tasks. 1. Denial or Rejection Follow-U
3 Collections Strategies That Help You Get Paid
One issue that has surfaced recently is how providers are supposed to collect from patients and minimize the amount that is written-off every year. We recognize that this can be an uncomfortable conversation with patients, but ultimately it is crucial to the survival of the practice. Here are our 3 best strategies for collecting from patients and minimizing your write-offs at the end of the year. 1. Create Documented Procedures for Collections In our experience, when there is
3 Ways Billing Boosts Your Bottom Line
Many providers today view outsourced billing as an overhead expense. Often times we are asked, "Why would I outsource my billing if I could do it myself?". To this question, we provide 3 ways that might change your mind on outsourcing your billing to a professional billing service. 1. Billers Save You Time The first way that a biller can add to your bottom line is by saving you time. In private practice, time is money. So when you are not in session, you are not getting paid.
The Number One Billing Problem...Coding Incorrectly
According to Revcycle Intelligence in 2016, the number one offender for billing denials is coding issues. This means that a biller will miss an add-on code, modifier, or get the procedure code wrong. When it comes to mental health billing there are only a certain amount of codes possible for counseling services. This reality helps to reduce the amount of denied claims due to coding issues. However, there can still be issues when it comes to psychological testing or evaluation
Why You Need A Financial Policy
One question that Practice Solutions receives is whether it is legal to write-off deductibles and co-pays. Many therapists make this a practice to make therapy affordable and to get people through their door. However, this idea presents the counselor with a troublesome issue: chronically writing-off deductibles and co-pays is not exactly legal. To clarify, a counselor can write-off deductibles and co-pays per their contracts with payers once they approve the client for such a
Cost-Benefit Analysis of Paper vs. Electronic Claims
For the longest time paper claims were the dominant method of being reimbursed. Even to this day many mental health providers still utilize paper claims. However, this will present an issue in the next 5 years. The reason is that many insurance companies are beginning to adopt policies that restrict the use of paper claims. Outside of payer policies, paper claims have become expensive and require significantly more cost to the practice owner than electronic claims. Don't beli
What is a Denied Claim vs. a Rejected Claim?
In some ways it is unfortunate that we live in a highly semantic society. But in other ways, being focused on the definition of words can be clarifying. When it comes to billing for the mental health industry, semantics can make or break a claim. That is why it is important for biller and providers to understand the semantic difference between a rejected claim and a denied claim. Understand the difference between a rejected claim and a denied claim will help in your efforts t
Models Of Billing. Pros and Cons.
When deciding on a billing company there are quite a few factors: cost, communication, and reputation. But one area of a billing company that has gotten less criticism in the past is the structure and processes of a billing company. We are going to describe three models of billing and their pros and cons. These models can be incredibly efficient and cost effective if implemented correctly. 1. The Traditional Model Traditional models of a billing company have a clear path for