There are many complications involved with running an efficient medical or surgery practice; and many issues have nothing to do with actually practicing medicine or performing a surgery. Unfortunately, surgeons as well as doctors in other medical fields face enormous levels of bureaucracy and red tape that they may not have been adequately prepared for in medical school.
In this post, we are going to take a look at the topic of billing. Having effective strategies to deal with problems associated with medical billing is extremely important to running a smooth and profitable surgery clinic.
In this Media Peel post, we present three highly effective medical billing strategies that surgeons and other medical professionals alike should take into consideration. Incorporating these patient billing strategies into your surgery practice can help get you back to doing what you do best, practicing medicine.
Gather Sufficient Patient Information
Clearly, having a large amount of bad debt can have a profound effect on the bottom line. And getting patients to pay their invoices is not always the easiest thing to do. It’s extremely important to have clear financial policies. Patience should receive this information, and the same information should be available on your website.
Having crystal clear billing policies right from the start will be very helpful to you in the long term. And don’t allow too much time to pass with unpaid bills before contacting your patients. A patient is much more likely to pay when the service rendered is fresh in his mind. When too much time passes, patients may begin to forget what they are being charged for.
It is also very important to have multiple payment options. Hopefully, you have an online payment option available so that patients can quickly and easily make payments on your website. This will drastically increase the likelihood that they will actually pay for your services.
Improve Your Medical Appeals Processes
Denied claims can be an extremely burdensome to your business, both in time and money. It is important to have a clear strategy for which claims you will appeal, and which you will let slide. You’re not going to have the time and recourses to be able to appeal every single one, so taking the time now to crunch the numbers and figure out which appeals are most important to the finances of your company is an essential step that should be taken early on.
Also, have a well-written appeal letter ready to go. Creating a go-to template that you can quickly and easily modify will be important to speeding up the process. Don’t forget to include all relevant info in your appeal template.
Lastly, if you have the resources, considering employing the services of a professional reviewer or surgery billing specialists. Such surgery billing professionals can manage your appeals processes and even directly contact payers.
Ensure Medicare Claims Are Well Documented
Having insufficient, or incorrect documentation can greatly slow down and complicate your relationship with both Medicare and Medicaid. Take the time to make sure you are providing the documents exactly as requested by those institutions.
Having your documentation in order also is important for your patients’ health and safety, and helps prevent unnecessary medical services. Don’t just trust your memory! Get everything on paper and your business will run more smoothly in the long run.
These are just a few of many best practices you can undertake to run a more efficient and profitable practice. We hope that incorporating these strategies into your business will help you get back to the more important aspects of your medical practice.