Recent changes in the healthcare industry have made it vital for practice managers and physicians to consider making instrumental changes in the way that they do business. Declining rates for claims reimbursements, evolving health policies, and increased financial responsibilities for the patient have caused practitioners to rethink their policies concerning Otolaryngology management billing and coding. Making structural changes to ENT account management techniques and outsourcing medical billing services can be beneficial, but only if handled professionally and according to the needs of the individual practice. In some cases, increased authorization training and billing support are all that is needed to get an ENT practice back on track. In the end, healthcare consultants are the answer, as they can provide a third-party view of what’s going on and what needs to be changed.
The Claims Submission Process
One of the areas that have changed the most is the claims submission process. Not only has the coding for diagnoses, treatments, and services changed considerably, expanding thousands of times beyond what it was just a few years ago, but the methods have evolved as well. Due to high-deductible health plans, ENT account management staff will often have to interact with several different third-party payers before they can receive complete payment for all services rendered. This can be difficult on patients as well, who require the services, but sometimes have to wait until all of the paperwork has been sorted before they can get treatment.
Other trends in the healthcare industry weigh in as well, making things more complicated than ever before. Value-based reimbursement and market demands have changed the way that healthcare is paid for by the patient and delivered by the physician. While the healthcare industry will only continue to grow, expand, and evolve, it is essential for busy practices to find new ways to stay on top of those changes – if they want to be successful. Working with a reputable consultant team that is experienced in the needs of Otolaryngology management billing and coding can help practices to develop strategies designed to work in their favor with regard to ENT account management.
Optimizing the Revenue Cycle
A strategy that has been quite successful with many practices and clinics is to optimize the revenue cycle by breaking down the barriers between the front-of-office and back-of-office responsibilities. Increased familiarity with ENT account management across the board can help receptionists, and other staff members understand the importance of the new healthcare industry requirements. Authorization training and education regarding patient financial responsibility is crucial, especially when there are issues with obtaining co-pay and deductible payments from patients on a regular basis.
When the front-of-office staff knows what the back-of-office team in the billing department needs to submit claims and get payments for the practice, they are better equipped to perform their duties. When every element is working together toward the same goal, everyone wins. Practices can ensure a better revenue cycle with faster, more accurate reimbursements for the services that are provided. Patient collections and payments from insurance companies can increase considerably when everyone simply does what they are supposed to do.
Use Data to Your Advantage
Another benefit of working with MD Pro Solutions for Otolaryngology management billing and coding services is the data that is provided to our clients. This data includes everything that can be measured in the billing cycle, whether you perform ENT account management and billing in-house or are outsourcing medical billing services with a third-party program. Practice managers and physicians can use this data to make strategic changes in the way that they do business for the betterment of the practice as a whole. The data reveals which departments are “dropping the ball” with regard to claims submissions and can track when and where the issues are occurring within the revenue cycle.
Our consultants will provide you with a complete review of your entire medical billing solution. This can help to ensure that you are maximizing all of the benefits associated with your current billing service. We will suggest the use of the latest financial tools and provide you with options that can be applied to improve your ENT account management through training, education, and support. This can help practices to reduce the amount of time spent on account receivables and more time focusing on patient care. Interest in what MD Pro Solutions has to offer? Give us a call at 508-946-1665 and speak with one of our consultants about your desire to improve account management at your Otolaryngology practice or clinic.