The goal of any medical billing department is to collect the maximum amount of patient billing. So how do you make sure your staff is doing what they can to maximize revenue for your practice?
Is the process clear and straightforward?
Creating and documenting a thorough collection process ensures each staff member knows their responsibilities. Be sure to audit the collection process every year to make sure you’re using methods that are up-to-date and aligned with your needs.
Most processes typically involve:
- Making sure patients are aware of your billing procedure
- Having accurate patient information on file
- Verifying patient insurance information regularly
- Offering various payment options
- Collecting payments upfront
Are we collecting co-payments upfront?
An easy way to ensure you’re collecting payments is to require co-payment at the time of the appointment. Even how you ask the question can help get patients to pay their copay.
They can say “What payment method do you wish to use today?” to prompt their payment.
Are we having trouble with codes?
Medical codes help make billing easier, but errors in coding can result in problems with insurance payments. Avoiding upcoding (using codes for more expensive services) and under coding is key—if you are uncertain about what code to use, check with the provider or another coding resource.
Is there a good tracking system in place?
Knowing how staff is keeping track of pending claims can be helpful in ensuring payment collection. This way you can contact patients who have outstanding balances, as well as track outstanding revenue from quarter to quarter. It helps not only see what you are billing but also how collection procedures are working and what may need to be changed.
How can improvements be made?
The collection process can always be made better.
Ask staff where they have the most trouble in the process—is it coding? Is it how payments are being asked for at the time of the appointment? Is it the follow-up process? The billing staff can usually provide the best insight into what part of the process could use a revamp.
Utilizing the latest technology in medical billing can also help better track payments, keep record of outstanding bills, and overall revenue cycle.
Constantly checking in with your medical billing staff and evaluating your entire patient collection process is one way to ensure you’re maximizing your collections. Another way is by calling on the experts at Medical Revenue Associates, Inc. We construct a personalized medical billing protocol unique to your practice’s needs. Give us a call at 215-497-1001 today to learn more about our medical billing services or to schedule a consultation!
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