Are Physicians Losing Revenue? Concentrate On

Patient Collections .

Presented by,

Angomark, MedicalBillingStar

Fail to adopt

Many Physicians Fail to Adopt the widely used technologies for the patient billing and collections where their medical practices is pushed to

lost productivity

Slow reimbursement, and

Underpayments.

Patient collections made ease through technologies !

1. Electronic Funds Transfer (EFT)Using EFT eases the number of checks that your billing staff will have to deposit and also provides better audit control.

2. Remote Deposit Capture (RDC)

EFT can considerably scale back the quantity of insurance checks flowing to the office; but, there stay check payments from patients.

For those checks, use (RDC) a scanner that converts a paper check up on an automatic financial organisation (ACH) dealings and deposits funds into the practice's checking

account. 

3.Electronic Remittance Advice (ERA)

Instead of manually keying knowledge from a explanation of benefits (EOB), Associate in Nursing electronic file is received from the money dealer and auto-posted. 

The method is coordinated through your claims clearinghouse. this permits billers to specialise in following up unpaid claims, instead of tedious knowledge.

4.Electronic Filing of Worker’s Compensation Claims

Clearinghouses also are able to electronically file secondary claims that don't mechanically cross over, as long as you've got ERA.

It eliminates the terribly back breaking method of employing a black marker to de-identify alternative patients on associate degree of EOB

5.Batch Eligibility

Virtually all practice management systems or clearinghouses have the aptitude to verify the insurance of scheduled patients.

Preregister all patients and permit your PM system to verify insurance in advance of appointments to cut denials for "coverage not effective at date of service.

6. Cost Estimators

An emergent number of payers are proposing cost estimators on their practices.

This is an invaluable tool for practices to afford an assessment to patients based on CPT codes during financial counselling, and an aid in assembling patient co-pay’s and deductibles before to a non-emergency procedure.

7. Analysing Underpayments

Many practices are able to upload payer fee schedules directly into their PM system and, on a per transaction basis, equate the payment amount to the contract amount or run exemption reports.

There are third party claims offered at reasonable costs that analyse underpayments, and let you to request those underpayments.

Thank You !

Want to increase your patient billing collection ratio ?

Visit us http://www.MedicalBillingStar.com