Best Practices to Accelerate Dermatology Medical Billing Efficiency
In today’s value-based healthcare environment, efficiency is the guiding principle. In order to improve dermatology medical billing efficiency, providers must look at innovative ways to deliver quality care, lower costs, improve business outcomes and patient experience. However, efficient medical billing is an essential part of achieving these goals; but unfortunately, it doesn’t happen automatically.
Many healthcare service providers still in the 21st century rely on manual claim processing systems that slow their business efficiency due to errors in medical claims — resulting in denial and loss of huge practice revenue. Hense studies show that almost 80% of patients face difficulty in paying their bills due to inconvenient payment options. The medical billing process is not more challenging for healthcare service providers if they implement the right strategies at the right time.
If you want to accelerate your dermatology medical billing efficiency, consider these strategies in your billing process.
1. Utilize all available Technology
Along with numerous advancements in consumer and commercial technology, there are several advanced billing tools to improve the efficiency of the healthcare business. Like computer-based coding systems, voice recognition tools for clinical documentation in EHRs, and artificial intelligence systems. There are numerous tools available in the healthcare market, but before choosing any tool, make sure that it is most effective for your practice.
You can use teleconferencing tools. Instead of dealing with patients directly, you can speak to them over a video link on the computer. This will save you a great deal of effort, time, and revenue. It will also be necessary during the time of pandemics and other similar emergencies. You can also use accounting tools that help you to keep track of all your payments and daily expenses. These tools help you to monitor the status of your ongoing progress. While allowing you to stay focused on moving forward will allow you to cut down on unnecessary expenses.
According to the latest survey in the healthcare industry, about 80% of medical bills contain billing errors. However, automatic dermatology medical billing solutions work more efficiently and faster than humans and make fewer errors. However, to improve the efficiency of dermatology billing services, implementing advanced billing tools like clearinghouses and claim scrubbing tools is one of the best strategies. It will help to eliminate common billing errors, reduce denials, faster payments and increase revenue stream.
2. Incorporating an online payment solution into your billing strategy
If you want to improve your payment collection process, offering multiple and online payment options is one of the best strategies. When you provide payment options according to your patients’ needs it will drastically increase their satisfaction and your practice revenue.
Mobile Wallet: When you adopt mobile wallet payment options such as Apple Pay or Android Pay can also help patients to pay their bills fastly and timely.
Desktop Payments: Using a web browser on a personal computer, the gateway used for phone call payments can also help patients pay their bills remotely.
Phone call payments: A pay-by-phone option offers a no-touch payment solution. Providers can safely process payments, including the expiration date of the card, card number, patient ZIP codes, and security codes.
3. Final check before claim submission
Proper and accurate coding is one of the essential parts of the claim submission process. Which include ICD (International Statistical Classification of Diseases) and CPT (Current Procedural Terminology) codes. Due to constant change in the healthcare industry, dermatology medical billing codes eliminate, change, and constantly modify, which results in errors and denials.
However, sometimes front-end staff intentionally do not verify patient insurance eligibility or healthcare coverage plans, leading to heavy claim denials. On the other hand, a tiny mistake in a patient’s demographic information is also one of the leading causes of denials.
So double-checking and verifying each patient’s information before submitting a claim to the insurance company is an excellent strategy to eliminate common billing errors. Hence, a clean claim leads to fast and quick reimbursements.
Key Takeaways:
If it’s difficult for you to handle complex procedures of billing and coding in-house. Outsourcing to an expert dermatology medical billing service providing company like Medcare MSO is one of the best strategies to improve your business efficiently. Our professionals ensure you can get all overdue and underpayments in time and enhance your practice revenue stream.
