3 Easy Tips To Improve Revenue For Chiropractic Billing Services

1. 3 Easy Tips To Improve Revenue For Chiropractic Billing Services Given the current hectic lifestyle that most individuals lead with little physical activity, Chiropractic centres are receiving a lot of patients each day. As a result, staff and practitioners are overworked, and when they have to take care of the billing process with that workload, it can be a step toward revenue loss. However, that should not be the case. Instead, chiropractic facilities, with an increase in patient numbers, must be making money. But the reality in most practices is different. Because of the ever-changing government rules and health insurance policy updates, staying on top of the changes can be pretty problematic. As per the latest rules, incorrect coding and billing results in revenue loss and, at times, draws attention from the authorities for overbilling, which can be termed abuse or fraud. Read more>> HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/

2. 3 Easy Tips To Improve Revenue For Chiropractic Billing Services HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/

3. 1. Documentation & Insurance Contracts 90 percent of services provided by chiropractic services, lab tests, and imaging get their claims rejected or denied due to insufficient documentation. At times, the lack of documentation has also been a reason for the practice not getting paid for the services. Hence, every patient’s documentation must be done correctly to ensure no revenue loss. In most cases, the major flaws in the documentation reported are coding errors, stating the lack of medical necessity and failure to take into account the changes in insurance contracts. Therefore, the practice must notify the changes of the insurance contracts and do a thorough review of the contracts with the payer before the procedure as part of the process to get the reimbursement. The process also helps the chiropractic practice build an actionable plan for changes in workflow and increase staff retention and processing. Being mindful of the deadlines also helps in timely claim submission. HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/

4. 2. Optimize and Examine A/R (Account Receivables) Account Receivables or A/R is one of the key elements for reimbursement for physicians. Typically, the advice is to keep the A/R between 0 to 21 days. It means the average time taken to collect the payment from the practice is between these days. Since, in most cases, days and payments are directly proportional to each other, the delays done in A/R mean delays in getting the payment. Some of the methods that can be used in optimizing and examining the A/R that can improve the revenue cycle management are: Find the difference between the insurance and the patient accounts receivables Establish a relationship with all the payers Define, prioritize and determine all the risks by evaluating and understanding the payer-refund patterns Examine the guideline of the payers to understand the ways your A/R can get affected For all patient accounts, implement strict collection policies HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/

5. 3. Training your patients and staff are experiencing more deductibles and co-pays than ever before in chiropractic medical billing. With more awareness among the patients regarding healthcare, they are getting sensitive about the expenditure. Therefore, every chiropracatic practice must ensure that they get the payment without burdening the patients. The best way to do that is by educating and communicating with the patients about the cash they have to pay for the treatment. Hence, it is essential that patients know the cost of chiropractic service, what their insurance covers, and other financial responsibilities when seeking treatment. Part of the process can include handing out a booklet or catalogue that contains the details and clear information about the billing. Also, the practice needs to train its staff in dealing with patients regarding payment and billing. Therefore, the chiropractic staff must be aware of all the latest changes in Medicare, Medicaid, and other private insurers and their policies. Due to the lack of knowledge about insurance terminologies, patients HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/

6. How To Ensure These Tips Are Followed? Apart from using all the available resources like the latest medical software and RCM software, a chiropractic practice can take the help of an outsourced chiropractic billing company like 24/7 Medical Billing Services. A team of experienced medical billing and coding experts in chiropractic practice can ensure all these steps are followed while helping you streamline the financial process, increase the monthly revenue, and reduce any claim rejection and denial. In addition, an outsourced medical billing company such as 24/7 Medical Billing Services will ensure you have an improved ROI with a scalable future. HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/

7. About Us 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. HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/

8. Contact Us Media Contact: 24/7 Medical Billing Services Georgia 3001 Greenfield Drive, Marietta GA Ohio 28405 Osborn Road, Cleveland, OH 4414030068 Texas 2028 E Ben White Blvd, #240-1030 Austin TX, 78741 Delaware 16192 Coastal Highway, Lewes, Delaware 19958, United States Phone no / Fax : +1 888-502-0537 Email us: info@247medicalbillingservices.com HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/