You are an
orthopedic practitioner who wants to be compensated properly but are you stuck
with an inefficient billing process? Your medical billing for the revenue cycle
is one of the most critical functions in your orthopedic practice which means
you will need to ensure your billing needs are completed accurately and
promptly. Not just that, it’s essential to keep up with all the latest medical billing and coding updates so that you stay compliant. With a
proper medical billing system, your practice can gain continuous revenue with
minimal delays and lesser stress for cash flow issues.
When it
comes to orthopedic billing, there are important processes and standards that
are to be followed to ensure the billing is specific with minimized chance of
claim denials.
Accurate
Patient Information
We are
aware of the practice of having accurate patient information but often we
disregard the importance it holds and how it affects the billing service. It’s
essential to thoroughly check the patient’s names and spellings, the date of
birth, address details, and any other details that can be easily overlooked or
misspelled. All of these errors can lead to claim rejection or delayed claim
processes. You can ensure correct patient information and consistency by having
your administrative team cross-check the forms that are filled out by your
patients before you fill out your claim.
Proper
Documentation
Other than
patient information, the other aspect would be to have and create proper
documentation of the patient’s medical history which can include past surgeries
and consultations. Also, you will need correct coding to assign codes for
assistants/consultation, surgeries, and medical necessity documentation. AAOS
and AMA have stated that documentation must comprise of the medical necessity
of an assistant and their part as recorded by the surgeon.
Verification
of Insurance Coverage
Verifying
insurance coverage will help make your orthopedic billing process efficient
which will, in turn, save time and money by eliminating denials and coverage
errors. In order to make your orthopedic billing methodical, efficacious, and
profitable, you will need to verify all facets of your patient’s insurance.
Inculcate the practice of prior-authorizing and pre-verifying coverage that is
offered by the insurance carrier for the kind of medical services you will be
providing. This will help identify patients with active coverage. You can also
request patient reports from their insurance company so that you are in the
position to verify if the policy covers specific medical care you will be
rendering.
On-time
File Claims
One of the most
common billing mistakes that orthopedic practices can refrain from is filing
their claims on time. To do so, a process can be created with common procedures
and metrics that will contribute towards the ability to submit claims within a
specific time period. Meeting the claim filing deadlines will determine the
execution of a claim- whether it will be denied or paid. Be sure to keep a
track of these deadlines and ensure timely filing is provided by the insurance
carriers.
Coding
Many times
orthopedic practices have seen denials based on information that was not
specific enough. To avoid such scenarios, your administrative team will have to
ensure they collect as much information as possible and justify the codes that
are being selected against it. Along with this, you will also have to ensure
the codes used for a specific procedure or service are accurate.
ICD-10
states that coding for such billing should be more specific to guarantee
payment. This means our orthopedic billing and coding process should be
compliant with the latest system and coding standards. To do so you will need
to provide your team with the right technology and knowledge so that they are
able to record and code claims efficiently while adhering to the highest level
of specific coding.
Have you
considered outsourcing your orthopedic billing?
Well, give
it a try and see your billing system working as efficiently as possible. When
you outsource your billing and revenue cycle management, it helps decrease
costs and increases your revenue. This will allow staff to save time who
otherwise is stuck with appealing or re-filing claims that were denied.
Allow 24/7
Medical Billing Services to become your partner with the right expertise in
medical billing, to manage your revenue cycle and orthopedic billing services
so that you can focus on your practice. Witness your orthopedic practice
receiving increased revenues, lowering overhead costs, and minimizing the risk
of denials with 24/7 Medical Billing Services. Contact us to know more about
our billing services for orthopedic practice.
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
Email: info@247medicalbillingservices.com
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