Chiropractors have suffered frequent revenue losses because of factors like age-old billing software, outdated practice management, difficulty to keep up with regulatory dynamism, and others. The lack of professionals with domain expertise to deliver industry-standard chiropractic medical billing services results in erroneous coding and billing tasks. This added to denied claims count. These challenges prompted chiropractors to rely on the expertise of a third-party chiropractic medical billing company. Here are a few factors to consider while partnering with a third-party vendor.
Code Reviewing Ability
Outsourced chiropractic medical billing service providers should have the know-how about including diagnostic and procedural codes in an order specific to different insurance auditors. Auditors require this order to match medical service claims to that of patients’ coverage scopes. Third party vendors should dedicate certified medical coders who can select the appropriate codes that correspond to the chiropractic services availed by patients.
Insurance Refusal Management Ability
Insurers can reject claims left, right, and centre based on just data formatting issues. Third party experts rise up to such occasions by identifying, resolving formatting issues, and resubmitting the claims to the insurer in a timely fashion. They follow up on the resubmitted claims on behalf of the chiropractic medical service provider. This is an integral part of insurance refusal management. It paves the way for high first pass payment and claim resolution rates which trimming A/R billing cycle.
Transparent Billing
Chiropractic medical billing partner should be able to provide a detailed bill breaking down charges of all services for which a patient is billed. This helps medical service providers avoid unwanted dispute on charges as well as earn patients’ trust. In case of any errors in bills, billers can easily find error sources, troubleshoot those, and resolve within a short span of time.
Billing Software Functionality
Third-party vendors must use software that is specifically meant for chiropractic office management services. Such a billing software should automate electronic health record workflows that automatically fill documents with correct procedural and diagnostic codes. The software should comply with HIPAA regulations pertinent to Patient Health Information safety.
Vendor Service Scopes
Clients should ask about service scopes of their partnering chiropractic medical billing service company upfront. Such a clarification is important to ensure that the services are capable to meet their business and operational requirements. For instance, third-party vendors’ insurance coverage denial management skills will come in handy if clients seek help in handling insurance payer contract issue.
Parting Note
Expert chiropractic medical billing companies aid chiropractors in determining patient insurance eligibility and execute prior authorization services. Both these factors shape an effective billing framework. Thereby, third party vendors help to bring synergy and efficiency in chiropractors’ billing practice management framework. However, chiropractors must make a careful choice while partnering with third-party vendors. Technology adoption, high billing accuracy rate, frequency of claim audits, HIPAA compliance are among the parameters that must be considered prior to finalizing contract with third-party chiropractic medical billing companies.