Due to recent changes in the healthcare standards, approximately 10-15% of medical claims get denials. However, there are also many other factors that negatively impact dermatology medical billing services and your bottom line.
An error or delay will not only impact your finance but also results in a bad patient experience and erodes trust. Maintaining a minimum denial rate is important for the success of your business and your cash flow.
The billing and coding experts help you recover billing errors, which will save medical staff time and improve your profitability. They are well-versed with all billing and coding requirements and ensure a clean claim submission process.
To optimize your billing process, reduce errors or delays, and improve the patient-provider relationship, you need to understand common billing errors and learn how to recover them.
Medical Billing Errors:
Billing errors become a common problem for healthcare service providers. A recent survey shows that almost 80% of medical claims are erroneous. That results in adding more time to reimburse, costs you revenue, and even risk losing your business reputation.
The question is how do you avoid this from happening? And what type of strategies do you take to reduce denials and improve dermatology medical billing services?
Do you know? Poor documentation, incorrect patient information, and missing explanation for benefits are some of the common reasons to claim denial. However, wrong or duplicate billing can increase your administrative cost, create a frustrating experience, damage your business reputation, and penalties.
Try to avoid inaccurate billing codes, incorrect modifiers, and non-specific diagnostic codes. To minimize billing errors and denials, you can use automatic tools that result in improved efficiency, save time and maximize collections.
Always stay up to date with industry changes and requirements that should impact how you submit a medical claim and more. Outsourcing your dermatology medical billing services to a reliable company can ensure adhering to compliance, and keeping up with all billing requirements while reducing administrative costs.
Not verify insurance Eligibility
Not verifying patient insurance eligibility or healthcare coverage plan is another common reason for claim denial. That leaves you with an unpaid claim or a patient unable to pay their bill promptly and results in a delay in the reimbursement process.
You must have professional medical billing staff who always verify and double-check each patient’s information before sending any claim to the insurance company. An expert billing team help you;
- Reduce coverage errors
- Minimize denials
- Improve bad debt write-off scores
Claim not Filed on Time
If you submit a clean claim but not within the time limit, it will result in denial. Different insurance companies have different time limits, and most of them have a 12-month time limit after the start date (after service was provided).
Sometimes a claim sent prior to the end date but received after it will be denied. And you will not get reimbursed for the services provided to patients.
To collect your payments timely and fastly file a medical claim as soon as possible. If you don’t understand the complex billing procedure, then outsource Dermatology Medical Billing Services to an expert billing company.
Although all the above-mentioned errors are fairly common they cause denials and cost your revenue. You can prevent these denials with the help of the right medical billing solutions. If you adopt a strategic action plan, it will help you overcome these denials happening in the future. If your healthcare practice lacks professional personnel and advanced billing tools, then hiring Medcare MSO is one of the best actions you should take to improve your practice growth and cash flow.