Value-based care programs, shifting payer fee schedules, employee turnovers, government regulations, a lack of training and resources, and high-deductible health plans may all be the causes driving your practice to earn less than it could.
Maintaining financial health in a difficult regulatory environment is no easy task. This is when Oracle Billing, Coding, and Consulting LLC comes in.
Here are a few ways a medical billing company can assist you in collecting every dollar owed to you:
- Accurate Payment Posting
Errors in posted payments can reduce the accuracy of accounts receivable (A/R) reports and create distrust in patients. Using a medical billing partner to post payments can provide your practice with the assurance that any possible issues will be identified and remedied.
- Reworking Medical Claims
Medical Coding can tag a claim with a denial/follow-up reason code, make necessary modifications to the claim, and resubmit a “corrected claim” based on the payer guidelines as soon as it is denied or partially paid.
- Reduced Turnaround Time on Claim Submissions
A home health billing service can help your facility get paid faster by ensuring claims are handled correctly on the front end. When charges are submitted, it can work through any clearinghouse rejections and submit claims.
- Training in Best Practices and Monthly Reports During training sessions, your medical billing partner may share its expertise on problems such as eligibility and referral systems management or patient payment posting. It may also provide you with monthly reports on your practice’s Key Performance Indicators (KPIs).