Key Benefits Of Outsourcing Chiropractic Medical Billing

by | Published on Jan 31, 2022 | Medical Billing

Chiropractic Medical Billing
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For any healthcare specialty, including Chiropractic, 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. Chiropractic billing services involve handling the administrative tasks related to processing insurance claims and managing payments for chiropractic services. This includes verifying patient insurance coverage, submitting claims, resolving billing discrepancies, and ensuring compliance with healthcare regulations.

The billing process can be quite challenging for chiropractic treatments due to the constant changes in medical billing and coding regulations, and insurance rules and regulations. The major challenges that chiropractors face when it comes to billing are managing the chiropractic billing system, maintaining healthy accounts receivable, properly training medical billing and coding staff, assigning the correct ICD, CPT, and HCPCS codes on the claims, coding audits, and more. To overcome these challenges and prevent payment delays and denials caused by billing errors, chiropractors can outsource their billing and coding tasks to a professional billing company.

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Diverse Benefits of Outsourcing Chiropractic Medical Billing

Advantages of Outsourcing Chiropractic Medical Billing

Outsourcing billing and coding tasks to an experienced medical billing company can provide diverse benefits such as –

  • Access to expert resources: Outsourcing medical billing allows chiropractic practices to use the expertise and experience of specialized billing professionals who understand the intricacies of chiropractic billing codes, regulations, and compliance requirements. This expertise helps minimize errors and maximize reimbursement.
  • Accurate claim submission: Efficient claim submission will benefit both chiropractic practices and their patients. Billing specialists and coders stay 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 regarding how claim submission and reimbursement systems function as well as the billing requirements of insurance companies, which is crucial for error-free, timely claim submission.
  • Cost savings: By outsourcing medical billing, chiropractic practices can reduce overhead costs associated with maintaining an in-house billing department. Outsourcing eliminates the need to hire and train billing staff, invest in billing software, and manage ongoing administrative tasks, resulting in significant cost savings.
  • Professional 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 complex tasks, providers can focus on patient care instead of spending time following up 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 peace of mind. Experts in such companies are well aware and up-to-date with 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: 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 support from experienced providers of chiropractic billing services, chiropractic practices can ease their tedious administrative duties and prevent delays in receiving reimbursement. Professional billing specialists will have in-depth knowledge of how claim submission and reimbursement systems function as well as the billing requirements of insurance companies, which is crucial for error-free, timely claim submission.

Choosing the right medical billing company is important for the financial health and efficiency of your practice. Consider their track record of accuracy and success in maximizing reimbursements for similar practices. Prioritize companies that offer transparent communication, responsive customer service, and customizable solutions tailored to your practice’s needs. It’s also essential to verify their compliance with healthcare regulations and data security standards to protect patient information.

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Loralee Kapp

Since joining our RCM Division in October 2021, Loralee, who is HIT Certified (Health Information Technology/Health Information Management), brings her extensive expertise in medical coding and Health Information Management practices to OSI.

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