3 pieces of advice on medical billing and collection

The healthcare revenue cycle is crucial as employers, providers and patients focus on containing healthcare costs.

Today's growing financial pressures on healthcare organizations will continue to increase as consumers take on greater financial responsibility for their healthcare bills. However, with the proper revenue cycle processes and workflows in place, providers can ensure timely and complete payments for their work.

Business News Daily recently asked some experts in the healthcare industry for advice on how providers can better deal with payers. Here are three pieces of advice from these experts, as reported by the publication.

Cindy Ehnes, Vice President of COPE Health Solutions
"It goes without saying that complete information is essential. Sending a claim to the right payer is critical, although in a delegated payer environment, it may be difficult to know which payer, a risk-bearing medical group, or a health plan, is responsible for payment. That can result in delay as claim Ping-Pong's back and forth."

Craig Ferreira, CEO of Survival Strategies
"Bill out daily! Don't sit around and wait for the insurance companies to pay you, but instead put a system in place to follow-up on every outstanding claim until it is fully paid. Ensure your claims are submitted correctly the first time; know in advance what the insurance company requirements are on every individual claim submitted and provide those requirements." 

Sunni Patterson, President of RMK Holdings
"Sometimes the best advocate is the member or policyholder of the insurance policy. Three-way calls usually result in a positive outcome and are highly effective. If the call is static, escalate it to a supervisor."

 

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