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Is Your Practice Losing Money? The 5 Most Common PhySician Billing Problems

9/19/2014

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1) Being unaware of referral requirements or visit and/or dollar limits
Insurance can be complicated and sometimes patients don't really understand their plans. To prevent that from becoming a billing issue, Midwest Medical Milling performs a benefit investigation on each patient and speaks to a live representative (where allowed) to get specific benefits in real time.
2) Denied claims
We follow up on all denied claims when they are received. We contact the insurance company to find out the reason for denial and work on completing the appeals immediately.

3) Large accounts receivable balances on claims over 90 days old
We follow up on all claims every 30 days. This way no claim gets lost in the shuffle and no claims get denied for timely filing, even when health insurances have a max of 90 days as a timely filing limit.

4) Large patient balances
Because we perform the benefit investigation, the practice is made aware of how much reimbursement to expect from the insurance and how much the patient will be responsible for. By having this information up front, the staff is able to collect payments at the time of service, or set the patient up on a payment plan before the patient's balances are too large and too old.

5) Participating on non lucrative contracts
Fee schedules change all the time. Even if the fee schedule suited your practice when you initially signed on, things may have changed. Midwest Medical Billing constantly monitors fee schedules with each different insurance company. If you are undercharging, or your contracted rate has decreased, you will be immediately notified.
1 Comment
Bug Exterminator Missouri link
11/26/2022 05:26:09 am

Great postt thank you

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Medical Reimbursement Experts
711 East Lemon St PMB 28
Tempe, AZ 85281
Phone: 402-750-4024
Fax: 800-210-9445
mweigel@medicalreimbursementexperts.com