5 Common Mistakes Podiatrists Make With Their Medical Billing
Apr 29, 2022
Medical billing mistakes can hurt your podiatry practice’s profits. You should take a look at these 5 common billing mistakes that podiatry practices make. We’ve even included simple solutions you can use to remedy each mistake.
Mistake #1: Claims Aren’t Filed On Time
If claims aren’t filled on time then you can lose out on collections. This ends up hurting your practice’s profitability. You should be sure to double-check that claims are submitted within the required timeframe.
Set up a system to make sure claims are always filed on time. This could be achieved by hiring a person responsible for this task or by outsourcing to a medical billing company that can handle the process for you.
Mistake #2: The Coding Is Not Specific Enough
Coding to the highest level for each specific code is important to maximizing profits. If the coding is not specific enough then money could be left on the table.
Hiring a biller who specializes in podiatry will ensure that you have coding done specific to your area of practice. You could alternatively hire and train your own medical billing staff.
Mistake #3: Insurance Is Not Being Verified Frequently Enough
If you don’t verify insurance frequently enough then you risk your patient’s insurance changing. This could result in you providing procedures that aren’t covered by insurance.
You should verify your patient’s insurance every single time they come in for a visit.
Mistake #4: The Coding Isn’t Accurate
Improper or inaccurate coding is a large problem you want to avoid as a podiatry practice owner. Inaccurate coding can actually lead to rejected claims and refiling. This results in collections taking much longer. There is also a relationship between improper coding and fraud. Purposefully inaccurate coding for better reimbursements can lead to audits.
Outsourcing will ensure your coding is accurate and handled by professionals who understand all the latest requirements in medical billing and coding.
Mistake #5: Underbilling
Underbilling is another mistake many podiatry practice owners make. Underbilling often comes from not being aware of the proper billing rules and coding options. It may also occur when the billing staff isn’t properly trained on the latest medical billing regulations.
Outsourcing your medical billing will ensure your billing to the full extent to maximize your profits.
Get the Most From Your Medical Billing With Outsourcing
Accurate and timely medical billing is an important part of improving your podiatry practice’s profits. Outsourcing your medical billing gives you access to medical billers who are trained in your specific area of practice. These billers are up-to-date and specialize in podiatry, meaning you know you’re having your medical billing done thoroughly and correctly.
Outsource Your Podiatry Practice’s Medical Billing
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