5 Tips to Improve Medical Billing

In this challenging economy, families still need medical care but may not have the means to pay for it when the bill comes due. This can prove challenging for the Billing Agency. In such a climate, medical billing services need to increase their effectiveness and efficiency in order to get the best results for their physician and medical facility clients. Consider these tips to improve medical billing practices:

1. Use technology as an advantage.

TRU Medical Billing offers many ways to transfer data to and from the physician's office. It is essential that the physician staff transer all superbills, day sheets, patient payments in a timely manner. Faxing is best for HIPPA Compliance. We also offer encrypted email as well as snail mail. We use up to date billing software that changes and updates with the changing mandates. By utilizing up-to-date software for medical billing, we have the opportunity to quickly determine whether claims are likely to be accepted or denied based on the ever-evolving changes in billing rules for insurance plans, Medicare and Medicaid. The highest quality software automatically updates as rules change, helping TRU Medical Billing to determine new trends in denials and work toward increasing the amount we can collect for our clients.

2. Develop and utilize a formal service contract.

Running a medical billing business is just that: a business. It is critical to have all parties involved – the medical facility or physician and the medical billing agency – sign a contract that delineates exactly which parties are responsible for each task, how payment will be made and terms for ending the contract. Having a billing contract emphasizes professionalism and helps protect the physicians and medical billing company. Our service agreement is simple to understand as well as clear and concise. Call for a sample copy. (602) 525-9888.

3. Use business intelligence to identify areas for improvement.

Accurate data mining is one of the best ways for medical billing agencies to improve their level of service and collection. With the innovations in medical billing software, unique reports can be run that provide specific information to assist in decision making and implementing improvements. Most of today’s billing software does offer the option to create custom reports. Once reports have been completed, they can assist medical billing management with increasing staff productivity, adjusting staffing requirements, as well as quickly identifying payment errors. TRU Medical Billing sends complete and detailed billing reports on a monthly basis.

Article of Interest - Medical Billing Tips

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4. Communicate wisely with patients.

Medical billing professionals can assist medical staff by encouraging the posting of all billing information in an obvious location in the patient check in area. By having the terms of payment easily visible for patients, there is no confusion about billing practices of the medical service. This information should include insurance requirements, upfront payments, co-payments and billing procedures.

5. Collect full information.

One of the best ways to help a medical billing agency increase efficiency is to make sure patient information is accurate and complete. Having a patient’s address, full name, birth date, work information and multiple phone numbers is a critical part of the data collection process that will be used both with insurance companies and as part of the collection process, should requests for payment be ignored. Additionally, asking patients for their Social Security number is an excellent practice that can be extremely helpful when cases of non-payment are turned over to a collection agency.

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TRU Medical Billing: Make More Money

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CPT Psychology

Current Procedural Terminology or CPT codes are used by psychologists and other mental health professionals in order to bill their services to insurance carriers. Here is a quick reference guide of some of the most commonly used CPT codes in mental health and psychology services.

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