Do you want to get paid on time, without delays? Here are four useful tips that you can use to speed up the payment of your medical claims.
The procedure of submitting claims and getting paid has always been filled with errors. To contest this, payers now use electronic submission and some kind of billing software as well. However, even with these steps, practices are still struggling to get paid on time. Though some problems lie with the payer, there are best practices that you can use to get paid faster.
Here are four tips that you can use to speed up your medical billing process. By implementing a few or all of these suggestions, you can get your practice’s medical claims submitted on time and paid at a much faster pace.
Make it your goal to get your claims submitted within three days or less from the time of the service. You can then track the claims through payment. If everything is in order, you can receive your claims within 40 days or less and enjoy a net collection of 95%.
- Electronic capture of charges
Make it a point to capture your charges with an electronic charge capture solution or EHR. By electronically sending your claims to the billing system, you can leverage many other benefits, other than speed. Electronic charge capture is known to minimize coding errors, prevent over /under coding and increase accuracy.
- Use electronic superbills
Ensure that you submit claims on the day that the superbill is received. By using electronic superbills, there will be less data entry for your billing staff. Once you receive the superbill, it will be much easier and faster to submit claims.
- Scrub your claims
Use a billing and practice management system, to scrub claims for you before submission. This way, you can find out if there are any problems. Next, you can fix these problems and resubmit the claims. By crossing out these two checkpoints, you can submit a higher percentage of claims that are clean.
- Observe claims after submission
Once you have submitted claims to your payers, you will need to watch out for any problems and address them on time. Even with careful observation, there can be claims that will slip through the cracks. To address this problem, you can use a no response trigger to inform you of possible problems with the claims. For instance, if a particular claims is always paid within 21 days or less, you can set up a no response alert to inform you if the claim is not processed within 22 days.
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The combination of technology and processes can help you submit cleaner claims on time, while helping you monitor any problems. If your practice management or billing system does not have the required tools and technology required to speed up the billing process, it may be time to think about a change.
Outsourcing medical claims processing to an expert is something that you can consider. Drastic reduction in the number of denials, regular reports about the status of a claim, medical billing for varied specialties and customized solutions are some of the benefits that come only with outsourcing. Read more about medical claims processing services to find out how you can improve your medical claims process and submit claims on time.
Did you like reading this post? Would you like to read more posts on medical billing and coding? Which of the above tips would you implement first in your medical claims process? Let us know your feedback in the comments box below. We, at Outsource2india love to hear from you.
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