Medical Billing Compliance Solutions
How great of a doctor you are and how many patients you see in a day doesn’t matter if you do not bill correctly: you will still be short on money, frustrated, and possibly subjected to audits. Proper billing and compliance to regulations for coding and processing claims is incredibly important for a practice. Unfortunately, it’s all too easy to struggle in this area. With a little help and effective billing compliance solutions, however, you can bring your practice up to speed and make the most of your collections.
Challenges in Medical Billing
Medical billing is a surprisingly complicated process involving complex medical coding, secure patient information, and insurance provider intricacies along with both state and federal laws. Billing correctly is absolutely crucial for collecting what is owed to doctors for their services. When not done correctly—or when done inefficiently—collections can fall through the cracks, payments can go unapproved, or worse: you could be audited for fraud.
As medicine and things like reimbursements and regulations change, complying to billing standards adjusts as well. It’s up to you to make sure you stay on top of the expectations and regulations so your billing continues to adhere to state and federal standards. This can put a lot of pressure on a small practice, particularly if they perform billing in-house. Even if you have help from a billing service, you have to make sure everything you do and they provide for you is up to snuff.
How Collaborative Practice Solutions Can Help
Fortunately, you don’t have to approach your billing compliance blind. Collaborative Practice Solution’s Medical Billing Compliance program is designed to make sure you are in-tune with current standards and regulations. The program takes an in-depth look at your billing practices and protocols as well as your medical coding. You’re provided with a current compliance manual to refer to when your office bills. The program also audits your baseline coding and documentation practices, checking for compliance and examining your office’s strengths and weaknesses. We’re then able to coordinate a plan of any corrective actions you might need to take to make sure your billing procedures are all correct.
For podiatrists with a TRAKnet electronic medical records program, we also have elective software that can help you with the billing process and make sure your protocols and coding all complies.
Take Care of Your Billing Compliance Today
Billing is a critical factor in seeing patients and maintaining a practice. Without it, you can’t collect everything you’re owed and you won’t stay afloat. Fixing your billing compliance issues can be a challenge; however, it can protect you from costly audits that could sink your practice. This isn’t an area where you can afford to be complacent. If you know you have billing issues, take charge of them today.
Billing can be complicated, but it should help you succeed, not hold you back. Increasing your collections (and thus your profits) and avoiding audits is as simple as implementing effective, efficient billing. Let Collaborative Practice Solutions help you take charge of and improve your medical billing overall. Contact us for more information or to get started today through our online forms or by calling (844) 430-6675.