As tempting as it is for medical professionals such as chiropractors to do their own billing, there are some items that are better off trusted to other professionals. Chiropractic billing is among those items. There are several challenges involved with documentation and reconciliation.
Billing is typically sent to both the patient and the insurance company. If services are rendered because of an accident, attorneys and secondary insurance carriers may require copies. Descriptions of services billed and payments received must be accurate. If there are mistakes, they should be corrected quickly and refer to the incorrect invoice number and billing date.
There are three major ways your chiropractic business will profit by outsourcing billing:
Accountability and Expert Advice
Approximately 1 out of every 5 chiropractic bills is rejected by claims reviewers. It can be the result of a coding error or listing the wrong claim number. A reputable billing firm is able to focus on the task of billing. They will contact you with any questions about the service before preparing the bill. Since the staff deals with various carriers, they are familiar with what is challenged most often. They are prepared to explain the billing to the insurance representative. You will also benefit from their knowledge as they explain ways to boost profits through more efficient billing methods.
The phone, computer, staff, printer and space required for billing increase everyday expenses. Small businesses are unable to dedicate resources to just that one important part of daily operations. Outsourcing the billing puts all that in a central location where reliable staff prepares and sends statements. In addition, they follow up to find out when payment can be expected.
Both you and your staff are disrupted by calls regarding statements. Focus on your patients while your staff focuses on appointment reminders, scheduling appointments and getting information.
A good billing company has personnel with excellent accounting skills. You are basically interviewing a business that represents your business to others. Customer service representatives should speak clearly and be polite while keeping your best interests in mind at all times.
If you have any additional questions on how outsourcing chiropractic billing can increase profits, please contact us for further assistance.