5 Common Mistakes Cardiologists Make With Their Medical Billing
May 31, 2022
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.
Hiring a professional firm to outsource your medical billing can help to ensure accurate coding.
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.
Try outsourcing your medical billing to a professional who can maximize your profits.
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.
Hiring a professional medical billing company will help to ensure that the most accurate and specific codes are used to increase your 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.
Ensure that claims are filed in a timely fashion by designating one person to be responsible for the task. Another option is to outsource claims to a dedicated medical billing company.
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.
Make sure you ask your patients if they’ve changed their insurance every time they come in.
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.
Work with an expert medical billing team
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