Impact of Medical Billing Audits on your Practice

1. Impact Of Medical Billing Audits On Your Practice https://www.247medicalbillingservices.com

2. What Is Medical Billing Audit? • Before we go into the details of how a medical billing audit affects the practice, it’s essential to have a clear understanding of what is medical billing audits. • The planned process entails: • A thorough check and review of all the health records maintained, • Medical billing data submitted to the insurance companies, • Monitor the billing practice and process, • Correction of any incorrect billing practices • When the audits takes place, the practice can be asked to submit the following: • Clinical records, like x-ray, medical, lab reports, etc. • Financial records like charges entered, explanation of benefits, account receivable ledger, etc. • Documents related to policies like those required by the government or the private insurance companies. https://www.247medicalbillingservices.com/

3. Medical billing audits can be categorized into two sections: • Retrospective: The audits is done after the claims are sent to the payers, and it is generally the current providers’ audits retrospectively. • Prospective: The audits takes place before the claims are sent, and some practices follow the prospective audits with new providers. • Now, with a comprehensive idea of what a medical billing audits is, let’s see its effects on practice. • Effects of Medical Billing Audit On A Practice • Apart from the benefits like improving the medical claims ratio and the coding semantics, the medical billing audits impacts the practice in many other ways. Here are some of them: https://www.247medicalbillingservices.com/

4. Better medical claim performance • Typically the reasons that claim often get denied are due to the facility • Failing to provide the pre-authorization, • Inaccurate documentation, • Errors in claim forms and patient data, • Errors in coding, • Duplicate claim submission, • Missing the claim submission deadlines, • Lack of coverage due to ineligibility, • A medical procedure that is considered to be not necessary, etc. • All these factors can be checked and corrected with timely medical billing audits and help the regular and seamless flow of the revenue for better healthcare business. https://www.247medicalbillingservices.com/

5. Impact of Medical Billing Audits on your Practice • Improved Compliance In Medical Billing • Streamlined Workflow • Supportive Relation Between Payer & Provider • Learning From the Medical Billing Audit Results • How To Move Forward With Medical Billing Audit? https://www.247medicalbillingservices.com/

6. Contact Us • About 24/7 Medical Billing Services: • 24/7 Medical Billing Services is the nation’s leading medical billing service provider catering services to more than 42 specialties across the entire 50 states. You can rely on us for end-to-end revenue cycle management. We guarantee up to 10-20% increase in the revenue with cost reduction of your practice for up to 50%. • Call us today at 888-502-0537 to know more on how we can help boost profitability for your practice. • Media Contact: • 24/7 Medical Billing Services, • Ohio: • 28405 Osborn Road, Cleveland, OH 44140 • Georgia: • 3001 Greenfield Drive, Marietta GA 30068 • Tel: + 1 -888-502-0537 • Email - info@247medicalbillingservices.com https://www.247medicalbillingservices.com/