For any healthcare specialty, accurate medical billing plays a key role in getting paid for the services. Chiropractors treat patients suffering from various musculoskeletal ailments -ranging from low back pain to tennis elbow, scoliosis and neck pain. Medical billing and coding regulations as well as insurance rules and regulations for chiropractic treatments are always changing, which makes the billing process quite challenging. The major challenges that chiropractors face when it comes to billing are managing the chiropractic billing system, maintaining healthy accounts receivables, properly training medical billing and coding staff, assigning correct ICD, CPT, and HCPCS codes in claims, coding audits, and more. Outsourcing chiropractic billing and coding tasks to an experienced chiropractic billing company can help them deal with these challenges and avoid common billing errors that can lead to payment delays and denials.
Outsourcing chiropractic medical billing provides diverse benefits such as –
Accurate claim submission
Efficient claim submission will benefit both chiropractic practices and their patients. Chiropractic billing specialists and coders up to date with the latest codes, billing guidelines and the industry regulations. They can avoid claim submission mistakes, which will help optimize collections and increase practice cash flow.
Get on-time reimbursement
By filing accurate claims on time, practices can avoid payment delays and get reimbursed correctly. Billing specialists have in-depth knowledge how claim submission and reimbursement systems function and as well as the billing requirements of insurance companies, which is crucial for error-free, timely claim submission.
Insurance verification support
Verifying patients’ chiropractic insurance eligibility and benefits is a key step to ensure that the patient is covered for the specific chiropractic treatment. Proper verification is essential for accurate claim submission and reimbursement. Getting the patient’s insurance eligibility verification done by your front office staff can be time consuming. A professional chiropractic medical billing company will verify all key details including co-pays, co-insurances, payable benefits, claims mailing address, deductibles, patient policy status, effective date, plan exclusions, type of plan and coverage details, referrals and pre-authorizations, etc.
Focus on care and improve practice workflow
By outsourcing the billing task, chiropractors can focus on patient care instead of spending time follow ups with the claims and payments. With an experienced team available to handle such administrative tasks, you don’t have to train your staff on changes in health reforms or billing processes and software.
Improved billing compliance
By outsourcing the medical billing and coding functions to chiropractic medical billing companies, practices can enjoy the peace of mind. Experts in such companies are well aware and up-to-date on the latest amendments to regulations and can identify non-compliant activities, and prevent them from affecting filings.
Better AR management
With timely follow-up and appeals, experienced companies will help accelerate practice cash flow and minimize accounts receivable (AR) days. AR management services mainly cover coding/charge capture, payer/insurance follow-up, self-pay follow-up, collections management, receivables analysis, and denials management, ongoing monitoring and reporting of receivables risk exposure, etc. Regular follow-ups with payers will speed up claim processing as well.
Denial management is a crucial step in medical billing to improve practice collection. Just like submitting new claims, it is also important to re-submit and manage denied claims. Claim denials happen mainly due to administrative errors, poor insurance verification, wrong codes assigned on claims, or even due to delay in medical bills. Expert teams will regularly check claim status to ensure that all submitted claims are getting paid and denied claims are sorted out for further processing. When a claim is denied, they will identify the real reason for the denial, and initiate the claims appeal process which provides an opportunity for providers to get back lost revenue.
With chiropractic billing services provided by professional companies, practices can be free from strenuous administrative tasks and avoid reimbursement delays.