The healthcare industry has undergone many structural changes in recent years. Most notably was the ICD-10 implementation, which increased the number of codes used in medical billing from 13,000 to approximately 68,000. Industry professionals who were not prepared suffered the consequences, including delays in payment from insurance companies and denials due to improper use of code. In addition, other government and industry regulations have made education and training services for employees even more essential. If you want to improve account management for ENT billing and coding, the first step is to work with a reputable consultant to find out where support is needed.
Insurance companies are stringent when it comes to the use of proper medical billing and coding. Even a tiny mistake can cause a claim to be rejected or denied. To avoid these issues, it is more important than ever before for ENT practices to ensure that their team is up-to-date with the latest industry requirements. This is one of the biggest stressors placed on private practice physicians today, as the increased complexity of these industry requirements often means spending more time on billing and coding than providing patient services.
Reason #1 – Lost Income
Studies show that medical billing errors are the number one cause of lost income for private practices in America. It is estimated to result in billions of dollars lost each year. Many ENT practices have suffered from losses that they might not even be aware existed. The best way to improve account management and boost income is to focus on education and training services. MD Pro Solutions offers quality consultation services to Otolaryngology specialists to help them get on top of ENT billing and coding requirements to maximize their revenues. Stop leaving money on the table and make sure that your team is properly trained and prepared to get you the money that you have earned through your services.
Reason #2 – Wasted Time
When your team is not current with ENT billing and coding, it can take a lot longer to process claims and get paid. Not only are there delays on the initial submission, but rejected claims due to errors require the process to start over again. Your billing team will need to research the reason for the rejection and then resubmit the corrected information so the claim can be reviewed and processed for payment. In addition to education and training services for billing and coding, our consultants may also recommend a process for periodic auditing to prevent erroneous claims from being submitted in the first place to decrease rejected and denied claims due to common mistakes.
Reason #3 – Authorization Training
A lot of the delays and errors experienced in today’s practice are due to issues that occur at the front desk. Pre-authorization for insurance companies should be performed before a patient is seen at every single visit. With so many changes occurring in the healthcare industry, not just for physicians but also for patients, it pays to stay on top of each patient’s insurance information on a regular basis. It can help to post information inside of your office that advises patients that they will need to provide insurance information before every visit. Better yet, ensure that your staff obtains this information over the phone when the appointment is scheduled so coverage can be verified before their arrival.
Reason #4 – Improve Account Management
When the rest of your staff is operating like a well-oiled machine, you can’t help but improve account management across the board. Paying attention to details like ENT billing and coding, authorization training, and focusing on education and training services for other areas that require support will help your practice to be more effective and efficient. Increasing revenue, preventing rejected or denied claims, and ensuring that your patients are providing current information for better record-keeping can reduce stress and create a better working environment for everyone involved.
Reason #5 – Happy Patients
Another good reason to stay on top of education and training services is to provide better all-around services to your patients. When everyone knows their job and what needs to be done, it reduces confusion in the office and makes your team more confident in their responsibilities. From the front desk all the way to the billing department, when you work to improve account management and ENT billing and coding, everyone benefits. By implementing quality measures alongside educational programs, including authorization training and coding support, you will see a positive change in your practice that will help you plan for the future.
Interested in ENT Consulting Services?
MD Pro Solutions has decades of experience working with clients who specialize in Otolaryngology. We work with private practices, clinics, and other related organizations to provide consultation, education and training services. Ongoing support for ENT billing and coding, along with internal audits and other measures, work to improve account management and create a more effective approach to patient services. Give us a call at 508-946-1665 or use our online Contact Form to reach one of our team members to get started.