4 Medical Billing Errors Hurting Your Healthcare Revenue Cycle
The healthcare revenue cycle starts with appointment fixing. It continues with the proper flow of the individual's health care. Finally, it ends up fully paying the liability of the costs incurred on the patient for the facility by the provider. Let us discuss the important points to remember for the same cause. Revenue cycle management is often considered troubling, for it is an additional burden for the hospital's management.
Some common mistakes happen in a revenue cycle management company despite in-house or outsourced medical billing and revenue cycle management.
Unified Bills for different Services and duplicate billing:
The services of the hospital facilities go on from appointments for the patients. It contains consultation fees, medications, test reports, supplements, treatments, etc. The bills made altogether might sometimes result in duplication (i.e.) double printing or wrong printing, which is another common mistake with manual billing.
Some mistakes like not reviewing the data regularly and taking necessary actions can result in negative goodwill. Double-check for any mistakes that could have any misinterpretations. Identification of duplicate billing could be made by identifying the date in the document.
Using manual claims management process:
A manual revenue cycle management process might result in the inaccuracy of the data. It also results in increasing the days in A/R. However, most companies, even established ones, are still using manual processes for denial management. Therefore, it is ideal to use a vendor for revenue cycle management. The process would go smoothly with an expert, and they could understand the root cause of denials and act accordingly. Thus, they would be able to resolve the issues easily and decrease the number of write-offs.
Get updated on the changing systems and technologies whenever possible. It brings an opportunity to gain the goodwill of the company. You could reduce manual mistakes when looking for denials. It results in proper recording and collection of the denied claims. It is equally time consuming for the coder to take much time to manage claims without any errors.
Claims & Denials & Slow follow-ups:
If there is a proper follow-up of the claims, the functioning will go normal. But if there are no proper follow-ups there, a complication arises in the flow of claims management. Thus, recording the data without delay is an ideal responsibility that you could train your employees to do. Not only is the data secured, but it should also be updated time-to-time.
Common mistakes in medical billing include making wrong claim filing and making claims with the wrong insurance company domain or wrongly sent data. The details include the name of the patient, date of birth, and other vital details that might make a disregard to claim denial as it had been mistaken. To reduce the proper check-in of follow-ups and denied claims, it is ideal for making proper claim records with clear references for documentation.
Inaccurate coding, records or insufficient documentation, and wrong filing:
To attain a proper understanding of coding, learning more about the same is necessary. Make sure that the claims are correct with the optimum coding values. Else there would be a mess with the records in the system. As all the claims, diagnosis, and procedural codes are entered manually, make sure that they are not edited or erased. Making your staff clear about the coding or ensuring their expertise is important. Thus, training a coder is particularly important. If there comes an error with the coding, it will become mistaken.
One tip to avoid tis mistake is to use the updated version of the software. There are two main coding errors. It includes incorrect application of the seventh character or missing linkage between diagnosis and procedure codes. There are some cases where there are false company names, and they are sent to the wrong receiver. But in such cases, double-check for any invalid codes, or else the claim would be rejected.
Conclusion:
Thus, the above mistakes are quite common and could only be resolved if you could work on them with intense care with your revenue management company. Ensure that your revenue cycle management company is clear with the common mistakes above. It could enable the smooth functioning of your services with the vendor you are operating with. Feel free to shoot us any queries if you need to. To avail of these services for your health care facility, contact MHRCM
Learn how to address Revenue Cycle Management healthcare challenges with tips from Business Integrity Services.
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