Even the most organized healthcare organizations can still fall victim to the most common medical billing mistakes in the industry. Providers who have in-house billing services know the administrative burden that comes with it. Whether your practice is experiencing a high level of denials, struggling to submit clean claims, or is working with a poor RCM services partner, these problems can sometimes seem unavoidable. The good news is, with the right combination of billing technology, your practice can avoid these common medical billing mistakes in 2021. Below are the top 5 medical billing mistakes and what your organization can do to avoid them in the new year.
Common Medical Billing Mistakes
Lack of Quality Technology
In 2021, the quality of your technology will mean everything. The medical billing landscape is becoming increasingly complex. Without the right technology to support you and your team, you will undoubtedly fall short in the new year. Quality medical billing software can help your team work more effectively and efficiently. Your team will be able to streamline the billing process, completing more in less time and having a positive impact on your bottom line. Implementing a quality medical billing solution that offers what your team needs to succeed is an essential piece to the puzzle.
Poor Claims Management
Claims management means the world to any practice's bottom line. This common medical billing mistake means your team might now be managing its claims process with the best tools and procedures in place. The first step in quality claims management is quality technology. The right tool can help you code your claims more accurately and submit them on time. The next step in eliminating this medical billing mistake is partnering with a quality vendor of RCM services. The right vendor can double-check your coding to make sure your team is submitting more clean claims than ever before.
Poor Denial Management
This medical billing mistake is preventable, but is not addressed how it should be most of the time. When a claim gets denied, providers have a limited amount of time to correct any errors and resubmit it to the payer. Providers across the country are losing money to denied claims that are never resubmitted for reimbursement. Providers need to implement a quality denial management solution and partner with a quality vendor of services to eliminate denials and resubmit them on time.
Inefficient Charge Capture Process
Your charge capture process can either be efficient or time-consuming, depending on what system you have in place. The right AI-enhanced charge capture solution can help your team streamline charge capture and complete it more accurately than ever before. AI-enhanced solutions eliminate medical billing mistakes through updated technology and accurate predictions.
Low-Quality RCM Services Partner
Pick a partner, not a product. The right RCM services partner and medical billing vendor make the world's difference in the billing success of your organization. A low-quality partner will not train your team on how to properly use its software, leading to an increase in medical billing mistakes down the line. A low-quality RCM services partner will not help you increase clean claims and decrease denials. Pick an RCM services partner that can decrease medical billing mistakes, increase clean claims, manage difficult collections, and more.
CollaborateMD - Kennedy Kylander - Our technology solution optimizes clinical and financial workflows. We specialize in practice management systems and integrate with leading EHRs to provide the perfect combination of efficient front office workflows and excellent back office revenue cycle management.