5 Common Mistakes Neurology Practices Make With Their Medical Billing
Jul 4, 2022
Without successful medical billing, no practice would remain in business for long. Unfortunately, many neurology practices are making billing mistakes that are negatively impacting their revenue.
Mistake #1
Codes Aren’t Specific Enough
If you file with codes that are too general, you could be missing out on collections. The more specific you can be with your coding, the more you may be able to earn in revenue.
Solution
Guarantee more specific coding by hiring professionals to handle your billing.
Mistake #2
Codes Aren’t Accurate
Inaccurate codes can delay collections or even result in claims getting denied entirely. If you file with the wrong codes habitually, then you could get flagged for insurance fraud and trigger an audit.
Solution
Ensure accurate billing by outsourcing your filing to a professional.
Mistake #3
Insurance Isn’t Verified Often Enough
Patients change insurance companies whenever they change jobs or if their company has switched providers. If your neurology practice doesn’t have the latest insurance information, you could end up billing the wrong company and delaying collections.
Solution
Every time a patient comes in, ask them whether their insurance information has changed.
Mistake #4
Claims Aren’t Filed on Time
Timely claim filing is important because your neurology practice could miss out on collections if you miss deadlines. This is because late filings could be rejected by the insurance companies.
Solution
Choose one staff member to always handle claim filing.
Mistake #5
Patients Are Underbilled
If your staff aren’t completely trained in accurate coding and medical billing rules, then they may be underbilling your patients. Your practice could be losing out on collections and profit because of this mistake.
Solution
Train your staff on the latest, most accurate codes and billing rules.
Outsource Your Medical Billing to Maximize Profits
One way to maximize your practice’s profits is to outsource your medical billing to an external billing company. This will help to reduce filing mistakes and ensure that your time is freed up to spend more time with patients.
For informational purposes only.
"My husband and I have a small practice but we were looking for a medical billing company to consult us. We originally started with a local company with some satisfaction. However, our biggest problem was that they wanted us to change our existing EMR to software that they worked with. Quest National Services worked with our existing software so that we didn’t have to make expensive changes to our infrastructure. That saved us a lot of time and headache. I would definitely say that was one of the main reasons for why we switched and why we continue to work with Quest. As a small practice, they helped us without draining our resources."
Adriana C.
