For several years, it has been reported that Medicare claims were inaccurately coded, and some were presented without necessary and required documents, which brings ultimate loss of finances, resulting in the loss of thousands of dollars in annual revenue.
To increase the profitability of an ambulatory surgery center, you may have to look for ways to maximize reimbursement and minimize underpayment. Since, with the help of smart digital tools, you may hire the best coders from different locations and time zones, it will still become challenging for you to stay synchronized.
If you are wondering about simple and smart ways to minimize medical billing and coding errors, this blog is for you. Here is a list of smart tips which will help your hospitals to get maximum of the reimbursement.
Check the benefits
To minimize the errors in the billing and coding process, you can ensure that the provider verifies the source where a patient can avail of medical service. If any patient is regular, you can use the recent information of the patient. However, in case the patient shows changes in the insurance provider or policy limit, there will be a probability of leading to the errors in the billing.
So, you can ensure a practice of communicating all the details, including healthcare benefits, co-payment options, and coverage terms. By communicating all the factors, you will gain the information which will reduce the errors in the billing process.
Check for the mismatch
It is crucial for you to have matching data in your facility that includes policy provider and group number. So there will be fewer chances of rejection. This is important for you to consider, as any minor mistake in the name, gender, and birthday of the patient can lead to the timely rejection of the claims.
You will, in the end, face long delays in the approvals and loss in the revenue of your medical facility. Remember, you also need to provide all the medical services such as erectile dysfunction to stay ahead of the competition.
Create accurate electronic health records
It is crucial for you to ensure the medical practitioner writes the prescriptions in a comprehensive way. If he doesn’t, it can result in severe, and sometimes the claims get rejected. It will be the duty of the staff to report the difficulty they will find in the codes.
There is a smart way you can choose to enter the bills, which is an automated billing system. But for this, you will need to train your staff to operate it properly. Inadequate training of the staff will only increase the number of billing errors.
Use the latest coding manual
If you are using an outdated reference manual for medical billing and coding, it can affect the reimbursement process in your medical facility. To make your coding strategies updated, you should allow your coders to attend the seminars.
By having a reference manual aid in a seamless way in your healthcare facility, you can ensure less delay in the payments. You can think of hiring a trained and skilled billing professional for your ambulatory surgical centers to ensure the process runs in a cost-effective and accurate way.