Manage patient care with medical billing is a major challenge of medical practice management. Every physician should perform thorough billing assessment once a year. Billing assessment involve examining your practice revenue cycle from top to bottom.
Revenue Cycle Management
The revenue cycle begins eligibility verification means patient’s insurance verification and ends when the patient’s account reaches a zero balance. A proper billing assessment should consider all steps involved in this process. If you start looking from bottom to top in your revenue cycle process, will identify problems in the cycle, and continuing backwards from there will likely reveal the source. You can identify improper coding, mistakes in claim preparation, failure to follow guidelines or a number of other issues in the medical insurance billing process.
Medical Practice Audits
You should start billing assessment with self-audits. Your practice should run audit frequently. This will helpful to your practice to point out revenue draining issues like under-coding and over-coding, incomplete documentation, payer denial trends, under performing accounts and services, and where other medical insurance billing errors are being made. Data from the audits should be compared to industry benchmarks to measure your practice’s performance against top performing practices. All of this will lead to effective emulation of those top performers’ best practices.
At Medisys, we also conduct practice’s thorough billing assessment. Medisys assessments are customized to the needs of the client. Basic points to check:
- Review of in-house compliance programs and CPT coding
- Operational reviews of billing
- Analysis of revenue loss from medical necessity with recommended changes to follow-up procedures to insure greater compliance
- Investigation of fee schedules, provider arrangements and CPT coding, and recommended changes to address situations where claims are denied or inadequately paid
- Evaluation of internal processes with recommendations for streamlining patient registration, the pursuit of missing information, and the collection effort
Are you leaving money on the table? Let the experts assess your billing system to ensure you are getting payment at first time. Get in touch with our Medical billing manager at firstname.lastname@example.org or call us at 302 261 9187.
We are a group of medical billing experts who offer comprehensive billing and coding services to doctors, physicians & hospitals. We provide end to end billing and coding solutions. Medisys Data Solutions RCM solutions ensures that the providers recover every $ they are entitled to. Our vision for the providers is “You Cure. We $ecure.”