Looking at the healthcare system in America, this is one that can best be said to be in such a season of rapid changes and as a matter of fact, this is one thing that anyone in the healthcare industry must be aware of by far and away. The one area that any provider in privet practice that has turned to be as complex as a provider is that of medical billing. This is mainly following the fact that as a practitioner, apart from the need to attend to your patients and their needs, you will as well have the other clerical assignments such as billing the insurance carriers and patients that you will have equally calling for your attention. To do this, you really need to be at the top of your game when it comes to the changes in the various state and federal laws which affect your coding and billing practices, and as a matter of fact, this is not something your studies in medical school covered. The following is a look at some of the basic facts that you need to know of when it comes to medical billing in the United States.
Physicians lose colossal sums in revenue annually as a result of poor practices when it comes to billing, approximately $125 billion lost in revenue annually by doctors. This is so appalling and as a medic in private practice, you must be asking yourself if at all you form part of those who lose such substantial figures in revenue. Here are the main causes of such losses in revenue to private medical practices.
Talking of the causes of the losses in revenue, one of them is looking at the fact that quite a number of these medical bills come filled with a lot of billing errors. These may be in terms of misspelled names of patient, creation of duplicate bills, inaccuracies in some other key information, incorrect dates of service and a case of a mismatch of the diagnosis and treatment codes.
All in all, these mistakes and errors are quite easy to spot and fix as soon as they are made and before you have the bill sent to the insurance carriers. However you need to know that they are equally easy to commit and can lead to much serious problems where the bill happens to have been submitted to the insurance carriers. Medical billing service providers would prove the sure panacea to these kinds of problems.