Got a medium-sized practice? Here are 3 ways to improve your billing strategies

There is a trio of tips to develop your medium-sized practice's medical billing for greater financial solvency this year, says Medigain Vice President Clint Hughes.

Those three key suggestions include:

1. Increasing collections at a patient's office visit.
"Check each patient's accounts receivable at check-in. If the patient has a large outstanding balance, ask for a payment. If the patient can't pay, he should sign a financial agreement and/or set up a payment plan."

2. Reducing errors that result in denied insurance claims.
"The provider should verify [insurance] eligibility at each visit to avoid these four common causes of claim denials: member's coverage terminated or not eligible for this date of service; services not authorized; services not covered by plan benefits; and maximum benefits met."

3. Considering outsourcing your billing altogether.
"You'll have more time to focus on your patients. You won't have to generate reports or supervise your internal billing staff to be sure they’re submitting accurate claims and following up on denied claims."

For more medical coding, billing and collections news:

Dr. Kevin Hopkins: Scribe a major timesaver for his ASC
CMS extends deadline for April ICD-10 end-to-end testing
Billing and coding for EXPAREL in 2015: 4 key points for ASCs

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