Lets talk BILLING!

Accounts Receivables (AR) are no laughing matter. With the current  global economic crunch, businesses small and large are looking for ways to improve and create more cash flow. For us in the medical field, unpaid claims can be low hanging fruit. We just need to pick.

Here are some suggestions to help minimize your accounts receivables.

1. Be sure your front desk administrator is checking benefits each and every time a patient is seen. With unemployment and layoffs on the rise, it is very possible for patients to lose insurance benefits from one visit to the next.

1. Accuracy is a must!!! When entering patient demographics and insurance information, it is critical to be precise. Something as simple as an extra digit in the zip code can cause a rejection at the clearing house. Watch for spaces and symbols in the policy ID and group number. For most insurances including the space or symbol will cause rejections at the clearing house. Be sure not to use nick names. Use the name listed on the patient insurance card. Use the note or alert area to remind staff that the patient like to go by a different name.

1. Be sure the services you plan to provide during the visit are covered under the members plan. Example, if a patient is being seen for a preventive visit, be sure the patient has preventive coverage.

1. Beware of Medicare Advantage/Replacement Plans. More and more Medicare eligible are taking advantage of Medicare replacement plans. When checking benefits for Medicare patients, be sure to go the extra step to hear HMO assignment information. This should be checked on each and every visit. For those actively using CollaborateMD eligibility check, don’t forget to stroll to the bottom of the benefit report to the other or addition payor section. If the patient has a replacement plan, it will be listed there.

Together, we can decrease the amount of unpaid claims and contribute to an increase in reimbursements.

Until next time,

Mylikia T. Ross, Certified Medical Billing Specialist