When you start to consider a chiropractic billing company to handle your finances, you need to know that you have one you can trust. That is the biggest step in finding the right company for you. Hiring a chiropractic billing company is crucial as your billing company is going to help you increase collection rates and reduce the overall rejection or denial rates.
A billing company is going to have professionals who take care of tasks, such as coding, reviewing claims, appeal, ERA/EOB posting, and reporting. When you go with a company you are freeing up your staff to do what they love most: patient care. You can also know that your billing is going to stay up-to-date and you get paid faster all while saving time and focusing on your patients.
If you are thinking about hiring a chiropractic billing company then here are some of the questions you should ask before settling on a provider.
- Do you offer denials management?
About 90% of all claim denials are preventable. What it takes is a proactive denial prevention strategy and dedicated professionals. These professional chiropractic billing companies are more capable of managing payer denials. The billing experts should know how to do the following:
- Ensure clean patient data in your chiropractic software
- Check for incomplete or missing information in the submitted claim documents
- Check coverage limits
- Identify errors before claims are submitted for payment
- Track and report denials
- Appeal claims that are denied incorrectly
- How good are you in code reviewing?
Correct coding is critical to have accurate and timely payments for rendered services. Insurance payers require specific and correct order of diagnosis to ensure that the service provided by your practice is consistent with the patient’s insurance coverage. Coding to the highest level of specificity ensures that your practice has an edge in revenue handling. By having a company that helps you review the correct usage and order of diagnosis and treatment codes on the insurance claim form, you are getting the best service possible.
- Do you manage insurance rejections and how?
Claims are going to be rejected if they do not meet the specific data requirements or basic formatting required by the insurance company. These claims can be resubmitted once the errors are corrected. A dedicated billing professional can help you optimize this process to bring in higher benefits with first-pass payments rates. This can help you prevent rejections and make it a more streamlined process in the long run. Hiring a billing company that helps you reduce the claim rejection rate is your best bet.
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