Three Ways to Meet Regulatory Billing Requirements

Did you know that a medical office can be fined or have penalties imposed for incorrect charting or improper billing practices? Small errors in the invoice can have significant impacts on the business process and the best way to avoid the hassles and unnecessary audits is to hire a professional team of billing experts. While physicians and nurses focus on providing quality patient care, these individuals will spend their time getting the office organized, setup with an electronic invoice system and contracted with insurance companies and working with employees about the latest chart updates.

Government regulations are constantly changing, making it easy for smaller health companies to fall out of compliance without realizing it until it is too late. The best electronic billing services provide more than just a professional invoice template but should include chart auditing reviews and timely creation of bills to the insurance companies as patients. By starting with the medical chart, personnel can be sure that the invoice is created with the correct codes for procedures and diagnoses.

This is the simplest step that does not require any external partnerships, but a quality backed service will take the health facility to the next level. While it may seem basic, medical chart codes are constantly being updated and changing and it’s next to impossible for a small practice to hire an individual to handle this full-time on their budget.

This is accomplished when they get physician credentialing services and contracts set up with the insurance companies. Benefits include an established fee structure so the doctor’s office knows exactly how much they will receive for every service performed, faster payment turnaround time because prices are set so the only review is to confirm chart codes and increased amounts for each service negotiated by the experts.

By utilizing this professional team, the doctor and nursing staff can focus directly on patient care and leave the details to the technicians whose sole responsibility it is to keep up with these regulatory changes. They will train the staff as needed to reduce the number of errors in charting and make it easier for accurate invoices to be sent out faster since they will be set up with the correct fees associated with the codes used.  In addition to meeting compliance standards, patients are satisfied with the service provided because they do not receive bills with amounts they shouldn’t have to pay and medical personnel are more focused on them in the exam room then trying to figure out how to get paid.

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