How much does your medical practice spend keeping up with medical claims and billing tasks? While these are critical administrative responsibilities, medical billing services don’t necessarily have to be maintained in-house.
The health care industry can be challenging to be in as it is a highly competitive marketplace. Medical practices cut costs wherever they can while still providing a consistently high level of patient care. Maintaining an internal data center for claims processing can eat up significant amounts of time, effort, and money. Contact CodeMax Medical Billing at 866.471.3267 today to learn about our services if you’re considering outsourcing administrative tasks.
What Are Medical Claims and Billing?
In health care, medical claims management is essential. Medical claims are the bills that medical practices submit to insurance providers. These bills contain unique medical codes that detail the care administered during patient visits.
The medical codes describe any service that a medical practice used to render patient care, including:
- Diagnosis
- Procedure
- Medical devices
- Medical supplies
- Medical transportation
- Pharmaceuticals
When a medical practice submits a claim, they include all relevant medical codes and the charges for the involved patient visit. The insurance provider assesses the medical codes to determine how much they will reimburse a medical practice for their services.
How Can You Improve Claims Management in Health Care?
Effective medical claims management is essential for medical practices, insurance providers, and patients. Many patients appreciate medical facilities that provide trouble-free claims processing. However, some medical practices may not handle these services internally. Improving services that affect patient experience should be a priority no matter how it’s managed. Here are some common tips to improve medical claims management services:
- Preserve and update data — Accurate patient data is the key to maximizing health insurance coverage limits. It’s not only essential to know policy numbers and deductibles that patients are liable to pay, but it’s also essential to verify billing addresses and other patient information.
- Streamline medical claims denial management — Most common reasons for rejected medical claims include incorrect patient information, incorrect medical codes, insufficient support documentation, and lack of physician credentialing. Ensure that each medical claim is complete and clean before submitting them, and train your staff to know what to do if one is rejected.
- Analyze quality control measures — One of the best ways to improve any management process is to periodically analyze it to find out where it’s inefficient or ineffective. It’s critical to hunt for errors that can cause medical claims denials. You can follow standard accounting conventions while handling payment records. You can also keep track of deposit data and forward every receipt to your medical billing team to continually update account balances.
How Does Your Practice Handle Medical Claims Management?
Is medical claims processing taking too much of your team’s time and energy? Is your team not able to focus on other core activities, such as taking care of patients? If so, it might be beneficial to move your medical billing services from internal to external with a third-party company, such as CodeMax Medical Billing.
Making this change can vastly improve the patient experience your medical practice offers. With a third-party company handling your medical billing services, patients can expect not only more attention from your staff but also quick and trouble-free medical claims. However, the advantages don’t stop there. Outsourced medical claims management can also improve your bottom line and generate more revenue.
Ready To Learn More About CodeMax Medical Billing’s Services?
Are you interested in finding a third-party company to handle claims management for health care? Contact CodeMax Medical Billing today to learn about our services. Call 866.471.3267.
