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Providing your patients with quality care may be your top propriety as a medical provider, but to do that, you need to ensure that you have the funds to operate. That is where medical billing comes into play. Medical billing is what allows you to collect the funds you need to keep your practice up and running smoothly.
1. Submit Claims Each Day
First, if you want to improve your medical billing practice, you will want to submit health insurance claims daily. You don't want only to submit claims a few days a week; that is a sure way to end up with a backlog of claims. It is best to process claims right away; the quicker you process the claim, the sooner you will be able to get paid for the claim. You can submit the claims each day on your own or work with a medical billing practice to help you submit claims immediately. You want to have a good clean claims ratio, which means that you have a low number of claims that are waiting to be submitted on your end.
2. Get Co-Pays During Appointments
Second, it is essential to collect the co-pays when patients show up for service. That co-payment may not seem like much. Co-payments are often small, for ten to fifty dollars. However, they are essential to your overall balance sheet. Remind patients before they come in of the co-payment. Getting payment right away will help you bring in the money you are owed for treatment.
3. Update Patient Information
Third, it may feel repetitive to you, but it is essential to update patient information and verify each time they come in. You don't have to have them fill out paperwork each visit, but you should have your front desk staff read their insurance information and their contact information at each appointment and verify that it is correct. Verification will help to ensure that you can successfully submit claims and get paid. It is the little steps that help increase your payments.
4. Follow Through on Unpaid Claims
Fourth, you are going to want to have a system in place for dealing with unpaid claims. You will want to have a method for keeping track of claims that have been returned and fixing any issues with the claims. You can handle this in-house or work with a medical billing agency that will fix any claim issues and resubmit the claim right away. Always follow up on unpaid claims.
If you want to increase your medical billing collection process, submit claims each day they are generated, collect co-payments at appointments, verify patient information, and follow through on unpaid claims. Work with a medical billing company to help you submit accurate claims and increase your payments. For more information, contact a medical billing company in your area.