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Is YOUR Practice Making a Huge Mistake?

Posted on December 30th, 2019 / Under Uncategorized / With No Comments

One of the costliest issues for a medical practice is that of claim denials. They cost the practice revenue by delaying payments. They slow the work efficiency, by forcing you and your staff to resubmit old claims in lieu of working on current claims. In general, they add frustration to the already hectic workday.

Even the most scrupulous medical billing departments receive claim denials, but by avoiding the most common mistakes, your practice can reduce the denial rate significantly.

Here are some of the top medical billing errors:
1. Coding is not correct
2. Coding is not specific enough
3. Patient information is missing
4. Patient information is incorrect
5. Claim information is missing
6. Claim not filed in time

How do you avoid these mistakes? One answer is this: You pour over claims with a fine-toothed comb prior to submission and become a coding expert in your spare time.

If that does not sound appealing to you, try using a medical billing company staffed by experts in the field to take the burden off of your staff and to streamline the process for your practice. This is a proven method to reduce the number of submissions of incomplete and inaccurate claims that could result in denials, in turn increasing the number of payments you receive.

Harnessing the experience of dedicated medical billing professionals will accelerate the speed with which your practice receives payments and decrease your rate of denials, improving your practice’s bottom line and saving your sanity along the way. Additionally, it will allow your practice to focus solely on what really matters: the patients.

One Source Medical Billing has the experience and expertise to reduce claim denials to reduce redundancy on the part of you and your staff. Learn more about how your practice will benefit by completing a FREE comprehensive audit with our staff.
Visit us at https://www.onesourcemedicalbilling.com/ or call us 888-624-5563

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Why Your Practice Needs Our Free Third-Party Medical Billing Audit

Posted on January 26th, 2020 / Under Uncategorized / With No Comments

Why Your Practice Needs Our Free Third-Party Medical Billing Audit

Are you getting optimal billing results in your practice? Are your claims getting a high number of denials? One Source Medical Billing (OSMB) offers auditing of your claims to find any issues you may be having, either on the front end or the back end of the claims process. By pinpointing specific issues, OSMB can improve claims management and boost reimbursements.

OSMB will review the full revenue cycle of your practice for the past year to locate the billing improvements needed to boost your overall payment success. These are a few examples that can delay clearing your insurance Accounts Receivable (A/R):

• Denied claims with no follow-up: Some claims in the active A/R may have been denied, but the denial was never received or have been posted but the cause of the denial was not resolved. Insurance companies can deny reconsideration if not resubmitted on time and can result in lost revenue.
• Incorrect Payment Posting: Erroneous payments and adjustments leave the A/R with false balances and can delay the collection of proper reimbursements from secondary insurances or private payments.
• Delayed Payment Postings: Untimely insurance payment postings will provide false A/R turnaround values.
• Missing Payments: Missing EFTs or payments mailed to the wrong address can be found with simple claim follow-ups.
• No Active Insurance Coverage: Lack of proper insurance verification of all patients can lead to denials based on “no active participant found” or “no active coverage at the time of service.”
• No Claims on File: A common delay in claims processing is simply that the insurance company did not receive the claim. Whether lost in transmission or stalled in a clearinghouse, these claims need to be resent promptly.

The OSMB audit will break down all practice claims results into categories for a specific review of areas needing improvement in your revenue cycle, as well as show you where your billing cycle is working as it should. This audit report can help improve your bottom line and increase our revenue by showing if some minor adjustments are needed, or additional training might be required. Can you afford NOT to have our free audit? Call us today 888-624-5563

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