Filing Directly May Prove Obsolete for Optimum Claims Management  

Category: Billing

Due to dreary economic conditions that include dwindling payor rates, Medicare cuts and increasing internal operating costs, how practices are managing their revenue plays a crucial role in their profit. In today's complex reimbursement environment, practices are faced with more risks and burdens in accounts receivable (A/R), and while the demand for physician services continues, achieving an increase in profit is challenging for many.

As Lee Iacocca once stated, "You can't do today's job with yesterday's methods and be in business tomorrow." The business of a practice is dependent on timely, accurate payor reimbursement which will minimize direct patient payments. A key decision in any revenue cycle management process is one of choosing how to submit claims, either by using a clearinghouse or filing directly. Because this decision greatly affects profitability within practices,...