Every healthcare service provider heavily depends on medical billing to keep their cash register ringing. But how do you make sure that managing billing tasks does not affect your responsibilities or performance? You could hire a third-party company that offers services like medical billing in Florida. They can manage everything for you so that your focus can stay on what you excel at.
Some of the key tasks managed by a medical billing team are:
Patient Registration or Revisits Data
One of the primary tasks of a billing division is to ensure that the customer data they accumulate is accurate and up-to-date. This includes if the patient is visiting for the first time or has already registered before.
The collected data comprises every detail about the visiting patient, such as their name, age, address, contact information, health history, and more. It also lists their insurance company’s name, insurance number, and scope of coverage.
Verify the Insurance Status
An insurance plan’s status can change at any time. It could change between a patient’s subsequent visits due to the insurance policy expiring or its scope of coverage changed due to some reason. This is why it becomes the billing team’s job to ensure that the patient’s insurance coverage is valid and can be processed for reimbursement.
Assign Codes to Services Rendered
Medical transcription is needed to understand a patient’s reason for the visit and subsequent diagnosis. The service so rendered will be based on the treatment needed, which will be coded accordingly. There are CPT or HCPCS codes that determine different conditions and their treatment procedures. The assigned code helps bill the patient’s insurer appropriately. If this code is not chosen properly, the claim will be rejected outright.
Document Patient Diagnosis and History for Future Use
Everything that a patient is diagnosed and treated for has to be documented carefully. This comes in handy for treating the same patient again in the future. Documenting it with a billing company further helps get them appropriate treatment from any medical facility of their choice.
Bill The Insurance for Patient Visit
Once a service has been delivered, the invoice for the same has to be issued immediately. A billing company can promptly take care of this for you, every single time.
Resolve Matters with Insurance Company
An insurer will always attempt to make sure that a claim is never cleared. If that’s not possible, they will attempt to reduce the payout value to a minimum. It becomes a biller’s job to ensure that insurers aren’t able to play the blame game and have to pay the claim as needed.
This job requires medical billers to carry out two primary tasks:
- Submission: Once a patient receives a service from your practice, they will be issued an invoice for the same. This invoice will then be tallied with a billing claim form that has to be filed carefully. Once done, this form is sent to the insurer seeking the claim.
- Claim Denial: If the claim is rejected, the billing division has to follow up with the insurer to understand the reason behind it. After learning the same, they start working on correcting the mistake before sending the claim form over to the insurer again.
An experienced billing company will always ensure that such events of claim denials are a bare minimum so that a constant cash flow is successfully achieved.
Collect Payment from Default Accounts
There are often patient accounts that default on the payment due to one reason or another. A billing company can help pursue those dormant claims, understand the reasons why they weren’t cleared, and give it their best to get those cleared and paid for as well.
Learn more about the leading medical billing companies in Florida and call them to get a free quote for your practice today.