Common Medical Billing Errors that every Healthcare Provider needs to avoid

1. Medical billing errors are quite common and the cost of these errors is extremely high. For instance, write-off as low as 1% can cost average 300-beds hospital approximately $3 million in lost annual revenue. Therefore, in order to remain financially viable, it has become necessary for healthcareorganizations to be proactive in claims management. They need to implement safeguards against billing errors, identify them and take necessary measures to rectify them. Common Medical Billing Errors that every Healthcare Provider needs to avoid http://www.247medicalbillingservices.com

2. Here are some of the common medical billing errors that every healthcare provider needs to avoid: If there is incorrect information in the claim and it wasn’t rectified before submission, the claim will get denied. Second common mistake is of duplicate billing which usually happens when someone from your office is making a mistake. Being too late in filing a claim is also a mistake that needs to be avoided. As a provider, you need to be aware that payers impose time limits for claim submission. It includes a 60-90 day limit on initial claims. Common Medical Billing Errors that every Healthcare Provider needs to avoid http://www.247medicalbillingservices.com

3. To ensure timely payments, many practices choose to outsource billing services to a third party. Reliable billing companies work with expert billers and coders who avoid the above-mentioned mistakes to get their clients paid on time. Common Medical Billing Errors that every Healthcare Provider needs to avoid http://www.247medicalbillingservices.com

4. About 247 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: 247 Medical Billing ServicesTel: +1 888-502-0537Email: info@247medicalbillingservices.com Common Medical Billing Errors that every Healthcare Provider needs to avoid http://www.247medicalbillingservices.com