One of the biggest problems in medical billing, particularly chiropractic billing is the denial of claims. Claims which are denied leave a lot of money on the table and not in your pocket or practice where it belongs. They are a huge source of lost income to the chiropractor.
Denied Medical Claims
To ensure that you’re getting all that your practice deserves there are certain steps that you can take to maximize your profits and minimize your denials. In fact, what many chiropractors and chiropractic billing services do not realize is that nearly one-third of all claims to insurance will be denied.
The reason this happens is unknown, but many claims and billing services say that it is because less than a quarter of all chiropractors or chiropractic billing services will actually spend the time to appeal the claim. It is sometimes more cost-effective to let it go. That fact means that the next time that you send in a bill to insurance, they can safely deny it, knowing that you won’t appeal.
If you spend the time to appeal the case, you will quite likely find that appeals in the future will be less necessary. The reason is, that the appeal takes time from the insurance company too. They have a habit of not denying the payments for chiropractors they know will appeal the denial.
Medical Code Accuracy
Another way to minimize the denials will be to ensure the accuracy of your codes. Be certain that you’re using the most current versions of the billing codes when you are billing. Make sure that you are using accurate and proper modifiers when you send in your billing.
Check out all of the different insurance policy carriers and their policies. Most of the carriers post policies regularly online. Many medical providers are unaware of this fact and do not review insurance carrier policies prior to billing them.
You can take steps to lower the number of denials that you receive in chiropractic billing to insurance companies. We can help to ensure that your billing is correct and is accepted the first time. Call us for a quote for your chiropractic medical billing needs.
