Are constant errors in medical billing stopping you from getting paid on time? What you need to do is to rethink your medical billing strategy. Read about four easy ways you can use to avoid medical billing mistakes.
What does the denial rate of your hospital look like? If the claims denial rate of your practice is higher than 4% (considered an efficient benchmark by the MGMA), you may want to stop blaming payers for medical billing mishaps and start rethinking your medical billing strategy. Here are four steps you can take to immediately prevent the medical billing mistakes happening at your practice.
Ensure that insurance is always verified
The number one reason that most medical billing claims get denied is unverified insurance. Not ensuring that insurance is verified can cost you more in terms of money and time. This is why, your staff and you must be extremely careful that insurance is verified for both new as well as returning patients. Keep in touch with the insurance provider to check for the coverage periods, pre-existing condition exclusions, effective dates, copayments and deductibles. Try to avoid errors when a patient’s benefits or receiving services are not met by the plan’s benefits.