The 7 Stages of Services Managed for You by Medical Billing Companies
Medical billing isn’t really complex, but it can be quite challenging to handle for someone who doesn’t specialize in it. As a medical practitioner, you will always want an efficient medical billing system to keep your finances rolling. This also means that if you don’t have an efficient medical billing team or individual, your practice will suffer more than you can think.
Companies offering South Florida medical billing services work on a designed set of rules that are designed to make your life easy. They categorize every action they take right from registration to disbursement, so that you can not only keep a tab of what’s going on but can also suggest changes should you need any. With their assistance, your medical practice can stay focused on what it does best – providing the best customer experience to every patient who walks in through that door.
Phases of Medical Billing Services
- Register a Patient: A first-time patient will need to have an entry with their healthcare provider before they visit a doctor. A medical billing specialist can handle it for them. If someone is a returning patient, the medical billing company can pull their information and share it with the doctor who can see their medical history, record, and everything else before starting a diagnosis.
- Log in the Service Rendered: Medical billers can also make an entry for the medical service you delivered. This helps keep a track of the services that the insurance covers, how it covers it, and also what the exceptions are that the insurance doesn’t cover. Certain prescription medications and services can fall into the bracket. If that happens, you can inform the patient about it before offering your assistance.
- Keep a Tab on Patient Visits: Patient check-ins are when a service meter starts ticking. This supposed meter records all the services the patient sought or required. It stops when the patient checks out, after which an invoice is raised for all those services. The software that medical billers use helps track these transactions, and also repeats everything when the same patient checks in again at a later date.
- Prepare Claim Documents: A medical billing claim document is what an insurance company needs to clear outstanding invoices. However, the insurance also ensures that the bill has been raised while staying in compliance with the relevant federal guidelines. A medical billing company can handle such tasks seamlessly.
- Submit Claims: Once an invoice has been raised and verified, it is then submitted to the insurance for clearance. These invoices are mostly sent electronically, and are sent directly using the software that helped create them. Such software programs are costly, but medical billing companies can help you avail of their benefits without paying anything extra for them.
- Coordinate with Insurance for Adjudication: This is the phase when the insurance determines if the claim your practice raised is relevant and valid. If there is an issue, they highlight it and send it back for review. If there is a bigger mistake, such as a coding error, or inflated invoice, they may even deny it outright. This wouldn’t happen with your invoices, though, when you have a medical billing company at your side.
- Follow Up with Collections: There can be additional payments that your patients need to make when their insurance claims wouldn’t cover your entire fees. Medical billing companies can do it themselves so that you can only focus on your medical practice. Their expertise helps ensure that no invoice is left unpaid and everything is handled in the most professional manner.
You can get started by giving a call to your nearest South Florida medical billing services company. If you are lucky, they will even help you with a free quote before you even hire them. Speak to them today to know more.