Medical billing practices can have a huge impact on the success of a medical facility. They affect efficiency, patient experience, and revenue. Too much money is wasted in inefficient processing each year. The best methods to manage this issue is simplification, communication, and technology. Here are five tips for effective medical billing:
1. Clear Communication of Payment Terms and Billing Practices
Posting billing information in the reception area can make things easier for everyone. If patients know about insurance requirements, co-payments, billing procedures, and upfront payments beforehand, the encounters will go quicker and with fewer issues. It is also important to gather all the necessary information the first time so time isn’t wasted going back.
2. More Choices
More money can be collected if consumers have more choices. Leverage technology to offer patients more payment channels. They are more willing and better prepared to pay if there are payment choices that work for them.
3. Reports and Audits
Periodic review of operations help identify mistakes and systemic problems that need to be addressed. Service and collections are improved with the use of accurate data mining. Uncoded or overcoded bills can lead to trouble and lost revenue. These issues can be identified with regular reports and audits.
4. Interconnected EHR Systems with Medical Billing
The processing of patient health information is more efficient with electronic health records (EHR). All processes, including medical billing, are streamlined with interoperability. Transmission of data can occur seamlessly and quickly. This increased efficiency transfers to reports and audits as well.
5. Keep Medical Billers Trained and Informed
Medical billers need to be familiar with the various insurance companies, policies, coding edits, and filing limits. A quick-reference policies and procedures manual should be given to every team member. Everyone needs to be informed about expectations. Regular meetings and training sessions can also keep staff on the same page. The key to effective medical billing is making it easy for everyone involved. That can be achieved through interconnected electronic systems, clear communication with patients and staff, and a regular review of processes. Well-trained employees are crucial to making it happen. Meditec’s Medical Billing Program gets employees ready to succeed on day one. Enroll today.