An essential aspect of running any business is the billing process. Big or small, private or public, billing is a critical aspect that makes sure cash flow does not dry up. As a business that provides innovative and powerful medical billing solutions, we pride ourselves on efficient and profitable practices. Accuracy in our work requires recruiting the best personnel to read, record, interpret, and track medical information critical to immediate payment and smooth operation.
New challenges that keep popping up in the healthcare industry, such as adjusting billing rules and regulations, can cause significant revenue loss. Failure to tackle these changes with proactive measures results in more significant challenges due to complicated billing procedures that might, in the end, reduce business revenue in the long run. When it comes to your billing, it is never a good idea to compromise, and here is why.
Compromising Reduces the Amounts of Revenue Generated
At SureCollect, we assign you an account manager who will work to increase revenue by up to 30%. This is the primary goal of our business. Now, when you compromise during the billing process, you are removing an essential safeguard for your practice's financial health. Loss of revenue can be caused by a failure to establish a transparent collection process or a failure to manage claims properly. We can help you avoid common sources of billing errors, such as incorrect patient information, duplicate billing, and poor documentation.
Compromising Results in More Errors
Medical billing errors increase denial rates, weakening the organization's revenue stream. Bills rejected due to a mistake take twice the amount of time to process—time that could have been invested elsewhere.
Even though rejected claims can be corrected and resubmitted, denied claims require appeal before resubmission. These processes are time-consuming and costly, so it’s always best to get it right the first time.
Ways to Minimize Medical Billing Errors
Billing errors are the primary reasons responsible for reduced revenues and compromising in a clinical setup. Thankfully, our team of professionals use the top tools, strategies, and training methods to ensure we can avoid those errors. For example, we:
- Keep up with billing and coding trends
- Avoid bill duplication
- Avoid under coding and upcoding
- Double-check the information to ensure it has been entered correctly
As a firm with trusted medical billing and coding professionals, our goal is to maximize your earning potential by achieving maximum profitability and efficiency. Get in touch with us for a professional service with a personal touch.