Why Your Practice Needs Our Free Third-Party Medical Billing Audit
Posted on January 26th, 2020 / Under Medical Billing / With No Comments
Are you getting optimal billing results in your practice? Are your claims getting a high number of denials? One Source Medical Billing (OSMB) offers auditing of your claims to find any issues you may be having, either on the front end or the back end of the claims process. By pinpointing specific issues, OSMB can improve claims management and boost reimbursements.
Diagnosing Denials With Our Claim Auditing Expertise
OSMB will review the full revenue cycle of your practice for the past year to locate the billing improvements needed to boost your overall payment success. These are a few examples that can delay clearing your insurance Accounts Receivable (A/R):
- Denied claims with no follow-up: Some claims in the active A/R may have been denied, but the denial was never received or posted, and the cause of the denial was not resolved. Insurance companies can deny reconsideration if not resubmitted on time, which can result in lost revenue.
- Incorrect Payment Posting: Erroneous payments and adjustments leave the A/R with false balances and can delay the collection of proper reimbursements from secondary insurance or private payments.
- Delayed Payment Postings: Untimely insurance payment postings will provide false A/R turnaround values.
- Missing Payments: Missing EFTs or payments mailed to the wrong address can be found with simple claim follow-ups.
- No Active Insurance Coverage: Lack of proper insurance verification of all patients can lead to denials based on “no active participant found” or “no active coverage at the time of service.”
- No Claims on File: A common delay in claims processing is simply that the insurance company did not receive the claim. Whether lost in transmission or stalled in a clearinghouse, these claims need to be resent promptly.
Enhancing Practice Revenue Cycle With Our Audit
The audit conducted by the experts of OSMB will break down all practice claims results into categories for a specific review of areas needing improvement in your revenue cycle, as well as show you where your billing cycle is working as it should. This audit report can help improve your bottom line and increase our revenue by showing if some minor adjustments are needed or additional training might be required. Can you afford NOT to have our free audit? Call us today at 888-624-5563.Read More...
Medicare 8-minute Rule Billing: Also Known As Direct Time CPT Codes
Underbilling is a serious issue in the healthcare industry, and one primary cause is the providers’ lack of knowledge regar...Read More...
Medical Practice Management Software: Various Uses For Maximizing Healthcare Efficiency Including Billing Tasks
People belonging to the healthcare industry, whether therapists, direct care practitioners, specialists, or chiropractors, al...Read More...
Physician Fee Schedule Policy Changes: Lookup Medicare PFS Proposed Rule
The Medicare physician fee schedule dictates how services rendered by healthcare providers are compensated under the Medicare...Read More...
Patient Demographics Documentation Guidelines
When a patient enters a healthcare facility to acquire treatment, one of the first things the staff does is collect the patie...Read More...
A Comprehensive Guide to Telehealth Billing 2023
COVID-19 has brought multiple changes into our daily lives; one of those changes is a growing number of people opting for tel...Read More...