Finally, your company is trying to get ahead with their medical billing plan. The doctor has decided to outsource their billing to a company that is reputable and ICD-10 certified. The hope is to get a higher return on investment at the end of the year. It is a wise choice to outsource your billing. Today, a medical biller must be well educated in utilization management, ICD-10 coding, verification of benefits and HIPPA laws. Your medical biller has an opportunity to get to the next level if they choose to. You can easily find yourself learning new techniques when it comes to getting ahead.
If you are a medical doctor, you probably don't know much about billing or what ICD-10 even means. The codes are a lot longer than they were in ICD-9. If your employee is telling you that you need to upgrade your software, they are telling you this because they know something about ICD-10. ICD-9 was a whole different story. There weren't as many codes. Your biller has to know more in depth information about the patient and if their health is improving.
In today's medical billing world, it is important to have a good relationship with your biller. You must feel confident that they can do their job well. If not, hire someone else or outsource it to another company. Your biller needs to know a lot about utilization management and proper documentation. They should know a lot about the software that you are using. Make sure that your biller has a few years of experience working in billing and coding. If they don't, there is a good chance that many of your claims will get rejected. Many physicians today are reporting that at least 20% to 30% of their claims go unpaid every single year.
Today, billers need to feel secure in what they are doing. There are certain laws that must be followed. If a person does not follow the laws, it can bring hefty fines to your practice. It can also make you look like you are trying to scam the system. Insurance companies today are giving audits often. They want to know what you are doing with the money that they are giving to you. They want to make sure that your paperwork is all up to par and they are often withholding payments until their audits are finished. Some of the audits take several months. It is hard to wait for a payment when you have bills to pay and salaries as well.
If you feel like you want to learn more about medical billing, there are many schools that teach on the subject. It is important to make sure that they are approved by a recognized medical billing organization. Most programs that are regionally accredited have a good organization backing them up.
If you are a medical doctor, you probably don't know much about billing or what ICD-10 even means. The codes are a lot longer than they were in ICD-9. If your employee is telling you that you need to upgrade your software, they are telling you this because they know something about ICD-10. ICD-9 was a whole different story. There weren't as many codes. Your biller has to know more in depth information about the patient and if their health is improving.
In today's medical billing world, it is important to have a good relationship with your biller. You must feel confident that they can do their job well. If not, hire someone else or outsource it to another company. Your biller needs to know a lot about utilization management and proper documentation. They should know a lot about the software that you are using. Make sure that your biller has a few years of experience working in billing and coding. If they don't, there is a good chance that many of your claims will get rejected. Many physicians today are reporting that at least 20% to 30% of their claims go unpaid every single year.
Today, billers need to feel secure in what they are doing. There are certain laws that must be followed. If a person does not follow the laws, it can bring hefty fines to your practice. It can also make you look like you are trying to scam the system. Insurance companies today are giving audits often. They want to know what you are doing with the money that they are giving to you. They want to make sure that your paperwork is all up to par and they are often withholding payments until their audits are finished. Some of the audits take several months. It is hard to wait for a payment when you have bills to pay and salaries as well.
If you feel like you want to learn more about medical billing, there are many schools that teach on the subject. It is important to make sure that they are approved by a recognized medical billing organization. Most programs that are regionally accredited have a good organization backing them up.
About the Author:
Ideal Billing Solutions does billing medical insurance claims, utilization management and verification of benefits. We are ICD-10 compliant and get high returns for our customers. Billing outsourcing is a practice that a lot of doctors are doing today. The main reason is because it saves both time and money. Many doctors receive 30% more in returns.
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