5 Common Mistakes Cardiologists Make With Their Medical Billing

Billing plays a major role in the successful running of any practice. Some doctors don’t make as much as they should, however, because they’re making mistakes with their medical billing. The following are some common errors cardiologists can make with their billing and how they can be avoided.

Mistake #1: Codes Are Inaccurate

Inaccurate codes can delay collections, increasing the amount of time it takes for you to receive payment. If you don’t use the correct code on a claim, it will likely be rejected and you’ll need to refile. Repeated instances of inaccurate codes is actually a red flag for fraud. If using the wrong code is a common mistake that you make, you risk getting audited.

Mistake #2: Underbilling a Patient

Another common mistake is underbilling patients. This can happen when staff aren’t aware of all of the coding options or the correct billing rules. It’s important to make sure that your staff are fully trained on all of the latest medical billing regulations or your practice could be losing money.

Mistake #3: Your Codes Are Too General

Filing a claim with codes that are too general could leave your practice missing out on collections. The more specific you are with billing codes, the more you can maximize your cardiology practice’s profits.

Mistake #4: Claims Are Filed Late

Filing claims late can hurt your collections. There’s a time frame in which claims must be filed and if you’re late, the claim could be denied, affecting profitability.

Mistake #5: You Don’t Verify Insurance Often Enough

Another common mistake is not checking often enough that patient insurance information is up-to-date. If a patient’s insurance coverage has changed, you could be submitting claims to the wrong policy or insurance company.

Outsource to Get the Most from Your Medical Billing

Accurate and timely billing is essential to maximizing your practice’s profits. An effective way to improve your billing is to outsource to an external company that can help you get the most out of your claims.

For informational purposes only.