How to Move your Practice from Self-Pay to Insurance Billing?
The cost of medical treatment is on the rise due to superior quality treatment given by healthcare providers. To pay the cost with the self-payment option is long gone because it is mostly witnessed that patients are not able to pay the fees in cash at the end of treatment, which in turn affects the revenue of the healthcare organization. The longer you wait for the fees to get into your account, the less chances are there to get. To remove the obstruction of payment uncertainty, insurance billing is a perfect option.
We at 24/7 Medical Billing Services offer Insurance billing or Medical billing services. You work in collaboration with Insurance companies, who in return gives you payment on behalf of the patient for the healthcare treatment provided by you.
Only a few steps are there to transform from self-pay to insurance billing and we make the transition smooth and efficient for you to carry on.
Patient check-in - It is   the initial point where the patient comes for the normal routine check-up.   At this point only, detailed information of the patient is recorded from   the demographic to insurance. Insurance policy number is imperative for   the claim submission.
Insurance Eligibility and Verification - To be   updated with the patient’s insurance information is significant. It gets   changed from time to time. Insurance eligibility   plays a vital role at the time of claim submission. Always ask the patient   for his/her latest insurance policy to eliminate doubt or misconception.
Medical Coding - To   get the insurance company a perfect picture of the patient's health. You   need to report in the correct and accurate medical coding. Diagnosis code   for illness and procedure codes for treatment needs to be accurate and   done by experts, to avoid any misunderstanding by the insurance company.   Don’t leave any small information out of paper and communicate it in CPT   and HCPCS code modifiers.
Charge Entry - This   step includes recording or entering each and every charge in the patient’s   sheet. Appropriately monitor the patient's record and the charges imposed   on him. As it must not have any error at the time of reimbursement.
Claim Submission - Once   all the above-mentioned processes are done, you need to submit the claim   with the insurance company for reimbursement. Since each and every   insurance company has a different set of guidelines, medical billers must   be aware of this information. Before the final claim submission,   thoroughly check it with the specific insurance company’s rules and   regulations. You don’t want the claim to be returned because of minor   errors.
Payment Posting - Last   but not the least is the bill get paid and the patient’s account shows   zero balance.
Need any more information? Contact 24/7 Medical Billing Services for further details.
About 24/7 Medical Billing Services:
24/7 Medical Billing Services is the nation’s leading medical billing service provider catering services to more than 43 specialties across the entire 50 states. You can rely on us for end-to-end revenue cycle management. We guarantee up to 10-20% increase in the revenue with cost reduction of your practice for up to 50%.
Call us today at 888-502-0537 to know more on how we can help boost profitability for your practice.
Hari Sudan, Media Relations,
24/7 Medical Billing Services,
Website – www.247medicalbillingservices.com
