Accurate medical billing can be the difference between consistent profitability and shutting down your practice. The problem is billing and coding issues tend to be confusing and complex.
Too often, doctors don’t receive payment for their services because of simple mistakes or costly claim denials. This is why Power Your Practice has put together a reference guide for medical billers to review as questions arise.
Use the following resources to ensure you, bill payers, for the highest possible reimbursements.
The Basics
Medical billers are the foot soldiers of your revenue cycle. Without their expertise, your practice would never get paid accordingly. These articles will help your medical billers solve some of the most puzzling billing problems.
1. Quick Billing Tip: Boxes 12 & 13 on the CMS 1500 Form
2. Modifiers 59, 25 and 91: A Guide for Coders
3. Improve Collections with Patient-Friendly Billing Techniques
4. 4 Ways to Improve Payer-Provider Relations
5. How to Improve Your Workers’ Compensation Collections
6. 4 Medical Billing Changes to Prepare for in 2014
To learn new ways to improve your first pass resolution rate and optimize collections cycles.
Mitigating Denials
By avoiding billing and coding mistakes, you can prevent claim denials and increase revenue. However, occasional mistakes are inevitable. The following articles will help you address billing errors as they occur.
1. How to Handle Insurance Claim Denials
2. 7 Everyday Mistakes that Cost You Money in Billing
3. How to Handle Problem Payers
4. Medicare Timely Filing Denials: How to Avoid Rejection
5. The 5 Most Common Mistakes Causing Claim Denials
ICD-10
The long-anticipated ICD-10 system will take effect on October 1, increasing the number of medical codes to almost 155,000. Coders should be as educated as possible on the new coding set to make for a smoother transition. The following articles will help medical coders get acquainted with all things ICD-10.
1. Lessons to Take From the ICD-10 Pilot Program
2. ICD-10 One Year Away: Are you Ready?
3. Aligning With Vendors on ICD-10 Readiness
4. ICD-10: Working Through the Basics
5. 3 ICD-10 Training Methods You Can Start Now
6. What to Ask Software Vendors About ICD-10
7. Surprising Cost of ICD-10 Implementation
8. 5 ICD-10 Drawbacks: Plan Ahead
9. ICD-10: Keep an Overdue Change from Costing You Money
10. The Most Bizarre ICD-10 Code Awards
Outsourced Medical Billing
Sometimes the administrative burden of medical billing can be too much to handle. In this situation, outsourcing your billing needs may be the answer to your problems. The following articles will help you decide if it’s time to make the switch.
INFOGRAPHIC: Where Practices Lose Money
1. In-House vs. Outsourced Medical Billing: Pros and Cons
2. When Should You Outsource Your Medical Billing?
3. Outsourced Medical Billing: Why It’s the Logical Choice
Additional Billing Resources
Medical Billing Software and Processes Used to Prepare Claims – HHS’ Office of the Inspector General
CPT – Current Procedural Terminology – American Medical Association
Stay tuned for new additions to the guide in the coming weeks and feel free to contact us if you feel we’ve left anything out. Happy billing!
