EL Medical Billing Solutions Podcast

Are you wondering how you can change your ways to make your practice run better? Check out these five ways to make your healthcare practice more efficient. A report in 2019 found that 44% of physicians had symptoms of burnout, and much of this was due to an inefficient workflow. To avoid this and make your healthcare practice efficient long-term, you need to focus on updating your technology and outsourcing some of your key processes. Keep reading this guide to learn five ways to make your medical practice operations run more efficiently! 1. Outsource Your Medical Billing and Coding Remember, your healthcare practice operations rely on efficient and accurate coding and billing of all medical claims. Medical coding can be time-consuming, complex, and expensive when you rely on in-house staff. Professional medical billing companies are experts and will ensure your claims are accurately submitted and provide countless benefits to your practice, including: Using certified professionals reduces medical billing errors It saves you money on maintaining billing software and supplies Improves your cash flow as there won't be interruptions due to staffing Improves your patient satisfaction as you'll have fewer billing issues Using professionals guarantees compliance with current coding regulations You'll also get detailed records and performance reports. As a result, you'll get an excellent overall picture of how your practice operates and better insights on how to make further improvements. 2. Invest in Secure Messaging Systems Secure communication systems can take your healthcare clinic to the next level. You can easily modernize services such as: Online appointment scheduling Automated appointment reminders Secure online prescription requests Your staff won't be overrun with constant phone calls, and thus will be able to focus on other tasks more efficiently. You'll also be able to delegate certain times to address the incoming messages you've gotten during the day. 3. Take Your New Patient Paperwork Process Online Your next step to efficiency is getting your new patient paperwork online. Having your patients fill out the paperwork when they arrive wastes time and delays your daily appointments. Even if only half of your patients go online to complete this paperwork, you're still saving time and money since you make your days more efficient overall. 4. Update Your Inventory Practices Keeping track of inventory needs can be a huge drain on the efficiency of your healthcare office. You likely have inventory in different exam rooms, storage closets, and your office area. This makes getting an accurate assessment of your inventory on hand not only difficult but a hassle for your employees, too. Once you switch to inventory management software, you'll get automatic alerts when your stock is low or expiring. It's an easy way to reduce unnecessary spending and boost productivity. 5. Invest In Employee Wellbeing Your employees make or break your medical practice, and team-building activities like weekly lunches are key to your practice's efficiency. It's also well worth the investment to give your employees a peaceful place to relax and re-energize during the day. Some quick ways to do this include: Bring old books and magazines Have chairs or a sofa for lunchtime power naps Provide yoga mats for meditation Consider a diffuser with lavender to promote relaxation Have dim lighting so employees can rest Install a coffee station You can also send out a survey to see what your employees would li

Are you wondering how to properly handle your claim denials? Check out this complete guide to proper medical claim denials management. Did you know that medical claim denial rates have risen 11% across the US since the pandemic first began? More importantly, most of these claim denials were due to data entry errors and insurance coverage problems. If you're experiencing issues with medical claim denials, knowing where to begin to fix this process can be overwhelming. You need to take a step back to identify the problems, but you'll need to know what to focus on first. To learn more, keep reading this guide to see how to effectively deal with medical claim denials so you can get back on track! Identify the Problem The first step in claim denial management is identifying the key problems. This is also the best way to prevent them from happening again. It's essential to be aware of the most common reasons for claim denial, which include: Submitting claims and initial rejections past the insurance company's claim deadline Submitting claims that aren't covered by the patient's insurance plan Not getting proper prior authorization before services are completed Claims that have missing or incorrect patient information Duplicate claims submitted for the same service The provider is out of network The insurance company deems the service not medically necessary Medical coding mistakes like using the wrong code for a service Finally, bundled medical codes are one of the biggest issues that can cause medical claim denial. With bundling, certain services must always go together; therefore, they are always billed together. Claim denials mainly occur when you don't bundle the correct services together or try to bill certain services separately. Medical Claim Denial Solutions Next, you'll need to be proactive and act quickly when you receive a claim denial. You'll need to form a denial management plan so you know what to focus on first. You can start this process by taking steps that include: Create a Task Force To analyze the denial trends and determine a timeline to deal with claim denials, you'll need to choose key staff members from each department. They'll need to contact insurance companies, talk with staff, and pinpoint claim format issues. Improve Patient Data Entry Quality Next, you'll need to focus on the patient data that's entered at the time of registration. It's important to narrow down the source of where the errors are coming from and make plans to improve this process. You'll need to provide staff training on data entry, insurance verifications, and claim deadlines. You'll also need to conduct frequent performance audits to ensure compliance. Outsource Your Medical Billing and Coding One of the best medical claim solutions is outsourcing your billing and coding, which puts your entire denial management plan into place in one step. You won't have to worry about re-training staff, hiring new billing or coding staff, or dealing with claim denials. You'll also save money long-term as professional billing, and coding companies offer you expert billing and coding services at a reasonable cost. Along with claim denial management, these companies also take care of a variety of processes, such as: Insurance verification and preauthorization Medical coding with accurate diagnostic and treatment codes Enter charges for services performed for all your patients Submit all your medical claims Insurance payment

https://www.elmbs.com/cracking-the-code-medical-coding-for-home-healthcare-services/

Are you wondering if medical billing is legit? With the rising cost of healthcare, it’s no surprise that people are questioning the accuracy of their medical bills. You may be concerned that you’re being overcharged or that you’re being billed for services you didn’t receive. The truth is, medical billing errors are not uncommon. In fact, up to 80% of medical bills contain errors, according to experts. For a more detailed description visit https://www.elmbs.com/is-medical-billing-legit-heres-what-you-need-to-know/