How To Choose A Chiropractic Billing Company?
Chiropractic
billing can be complex if it’s not being done by the experts. Chiropractic
billing services are based on well-trained staff, precise knowledge about the
billing code to document the diagnoses, and proper practice management.
However, Chiropractors seem to lose almost 44% of the annual revenue due to
negligence in billing.
Billing
scams like over coding and canned diagnosis are the main reasons for medical
insurance claim denials. Managing the in-house medical billing process can
be time-consuming, confusing, and can hold back the primary concern, i.e.,
patient care. So, there are valid reasons for chiropractors to partner with
third-party chiropractic billing companies. It can relieve the over-burdened
billing process, increase the clinic’s reputation, reduce the number of denied
insurance claims and generate monthly profit.
Although,
choosing the right chiropractic
billing company is very important to get the benefits needed and achieve
success in this field. There are some specific requirements that you must look
for in a chiropractic billing company before starting a partnership with them.
Let’s take a look at must-have features:
Software Support
It
is the best possible thing that a billing company can offer. It would be best
to look for the companies whose operating system is based on customized
software and not handled manually. It will improve your cash flow, practice
productivity, and better patient experience.
Well-Trained Staff
The
United States has very complicated and specific rules and regulations for the
medical billing system. Ensure the billing company you are approaching has
well-trained staff who are updated with the ever-changing regulations of the
chiropractic industry. It can decrease coding errors and audit exposure
drastically.
Type of Software Support
Make
sure the medical billing company uses the latest updated version of the
software for billing processes. The software should support a scheduler, EHR
implementation, cash payments, and claims processing. Also, a dedicated project
manager should be assigned to oversee the whole process to run smoothly.
Offers Charge Entry
To
ensure accurate chiropractic billing and coding, it is essential to verify the
claim details, including patient demographics and medical codes. The service
should generate CMS 1500 forms to submit to the government agencies. The fee
schedule should be incorporated and should raise charges before submitting the
claims to the clearinghouse.
Proper Payment Posting
It
requires proper verification of the accepted patient payments with the
back-office entries. It is needed to make insurance follow-ups smoother and
develop a streamlined billing for chiropractic services.
Checking Account Receivables
It
is important to identify critical claims and higher value claims regularly to
improve cash flow and profitability. The medical
billing company should effectively follow up to check the status and
gather additional information regarding every claim.
Handling Claim Denials
Denied
claims should be analyzed promptly to identify the root cause of denial, and
mistakes should be corrected to improve claim approval chances. An experienced
chiropractic billing company should be more vigilant about the insurance claims
and handle the entire process with promptness. They should appeal for denied
claims after reviewing the denial reasons and calculating returns after an
appeal. Also, they should be able to analyze the appeal carefully so that the
claim can cover all the costs and lead to productivity.
Increased Staff Efficiency
Identify
the best practices in chiropractic
billing services and make
sure the company you are tying up with has the required set of efficient staff
to reduce unwanted losses and improve the clinic’s reputation.
Additional Features to Look
For:
- The
company has a complete electronic billing system
- It
provides a self-service registration kiosk, supports online registration
and paperless patient intake.
- Provides
instant access to patient and financial information round the clock.
- Process
secure HIPAA compliant private health information
- Uses
customizable chiropractic templates and charts.
Conclusion:
Selecting
the right chiropractic billing company can be pretty complicated. But if you
have done proper market research and know the facts of medical billings
properly, you must be aware of the fact that 24/7 Medical Billing Services is
the right chiropractic billing company. With the right amount of knowledge in
this field, our Chiropractors billing experts will always help you to stay
ahead in the competition and make profits for your business with an increase in
your reputation.
About 24/7 Medical Billing Services:
We are a medical billing company that offers ‘24/7 Medical Billing Services’ and
support physicians, hospitals, medical institutions and group practices with
our end to end medical billing solutions. We help you earn more revenue with
our quick and affordable services. Our customized Revenue Cycle Management
(RCM) solutions allow physicians to attract additional revenue and reduce
administrative burden or losses.
Contact:
24/7 Medical Billing Services
Tel: +1 888-502-0537
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