Top 5 Challenges With Optometry Billing PDF

2. TOP 5 CHALLENGES WITH OPTOMETRY BILLING Since people are in need of eye care in the last few years, technology and healthcare are also advancing for the problems pertaining to eye care. Healthcare providers are getting top-notch expectancy and optometry is not an exception to it. Age related conditions like cataracts and presbyopia are getting complicated with the changing lifestyle and these conditions are impacting the cognitive, behavioral, and physical abilities of patients. Optometry practices have the same goals as any other small business – when they try to thrive. A thriving business focuses on revenue growth while providing a better experience to its customers. Even patients of optometry practices need better experiences when it comes to payments, and insurance claims. techniques to improve life https://www.247medicalbillingservices.com info@247medicalbillingservices.com info@247medicalbillingservices.com https://www.247medicalbillingservices.com

3. Let’s take a quick glance at the top challenges faced by optometrists Inefficient staff for data recording: With EMR and EHR are getting normal day by day, medical staff inefficient in recording patient data in the real-time world is becoming redundant in the optometry care market. Collecting and recording required information with appropriate codes is a necessary step that may ruin the entire billing and coding process if you ignore it. Medicare and Medicaid billing: With millions of patients getting covered under Medicare since 2015, optometry patients are also getting covered by government carriers. Although most private optometrists don’t cover services under Medicare and Medicaid provisions, they still need to manage their revenue cycle to make sure the claim settlement ratio is well-maintained. https://www.247medicalbillingservices.com info@247medicalbillingservices.com

4. Bad debts and Account receivables: About 30% of the annual revenue of an optometry clinic is lost to bad debts due to irregular follow-up and customer dissatisfaction. Optometry clinics and practitioners need to have regular follow-ups and fulfil data requirements to manage account receivables. Medical Billing Service Providers: It’s a common picture that many optometrists outsource their medical billing and coding process to professional teams. Every medical biller and coder cannot be equipped with equal capabilities and skills to deliver consistent service and specific needs of your optometry medical billing. Inefficient medical billing and coding company can be one of the challenges your optometry practice may face. HIPPA Compliance: Following the rules and reforms of HIPAA for patient health information i.e. PHI protection is important for any covered entity. Sharing medical information with insurance companies and carriers like Medicare and Medicaid for claim settlement makes an optometry practice to be a covered entity. https://www.247medicalbillingservices.com info@247medicalbillingservices.com info@247medicalbillingservices.com https://www.247medicalbillingservices.com

5. HERE ARE SOME PRO TIPS TO MANAGE AND OVERCOME SUCH CHALLENGES IN OPTOMETRY MEDICAL BILLING: • Identify if the provider is approved by the insurance payer • Keep accurate records for coding patient visits • Avoid rejections, denials, and fines by using modifiers • Stay updated with LCD, MAC, and Listserv updates • Don’t delay in following up with denial claims • Review most common coding denials and adjustment reasons • Collect co-pays, coinsurance, and deductibles before the patient leaves • Know when to bill routine vision Vs. medical insurance • Always complete the interpretation and report (i&r) for specific procedures • Determine when to use an ABN for non-covered services https://www.247medicalbillingservices.com info@247medicalbillingservices.com info@247medicalbillingservices.com https://www.247medicalbillingservices.com

6. 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 43 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%. https://www.247medicalbillingservices.com info@247medicalbillingservices.com

7. CALL US TODAY : Media Contact – 24/7 Medical Billing Services, 28405 Osborn Road, Cleveland, OH, 44140 Tel: + 1 -888-502-0537 Email: info@247medicalbillingservices.com Website: https://www.247medicalbillingservices.com/ https://www.247medicalbillingservices.com info@247medicalbillingservices.com