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Licensed physicians and treatment providers are always looking for ways to make a profit. Most medical practices collect less than 70% of their claims to insurance companies. It is not uncommon for a doctor to bill an insurance company for $50.00 and get back $10.00. It takes a skill to get the insurance companies to agree that you deserve to get paid. Every treatment centers, rehab and hospital knows that the new ICD-10 codes are making it harder than ever to collect on a claim. Years ago, collecting on a claim was much easier. All that you had to do was submit some paperwork and the insurance company would send you a check.
Now, medical practitioners know that those days are over. In the past, this is how things were done. In today's world, insurance company's want to know specific details about what you are trying to claim. Are you in fact trying to "get over" on them? Do your patients really need the services in which you are claiming?
Most people don't know that you need to learn 5 times as much information now than you did under ICD-9. You better believe that more study and experience is required. You need to document everything when you submit it to the insurance company. Insurance company's want to know why you are sending them a bill for a certain amount of money. Why should they pay you for the services that you performed? Was the service really necessary in the first place?
Learning how to work with the insurance companies and the medical billing company is what is going to see your success. Simply put, the medical codes are now longer. You need to invest in new software because of it. It actually may be cheaper to just let the medical billing companies do the tedious work for you. Doctors spend more time filling out paperwork than they do with their clients. This is always a tough battle and topic to talk about for licensed physicians.
Medical billers today should understand a lot about anatomy and how conditions are treated. In order to send in a correct claim to the insurance company, the biller must know how to do it correctly. Document what had to be done in detail. Today, the more detail that you give the insurance company the better. You will often see a higher return on your claims in the end. It requires much more work. However, this is why you need someone to do this full time for you. Forget ICD-9. It is a thing of the past. Instead, focus your attention on what needs to be done.
Now, medical practitioners know that those days are over. In the past, this is how things were done. In today's world, insurance company's want to know specific details about what you are trying to claim. Are you in fact trying to "get over" on them? Do your patients really need the services in which you are claiming?
Most people don't know that you need to learn 5 times as much information now than you did under ICD-9. You better believe that more study and experience is required. You need to document everything when you submit it to the insurance company. Insurance company's want to know why you are sending them a bill for a certain amount of money. Why should they pay you for the services that you performed? Was the service really necessary in the first place?
Learning how to work with the insurance companies and the medical billing company is what is going to see your success. Simply put, the medical codes are now longer. You need to invest in new software because of it. It actually may be cheaper to just let the medical billing companies do the tedious work for you. Doctors spend more time filling out paperwork than they do with their clients. This is always a tough battle and topic to talk about for licensed physicians.
Medical billers today should understand a lot about anatomy and how conditions are treated. In order to send in a correct claim to the insurance company, the biller must know how to do it correctly. Document what had to be done in detail. Today, the more detail that you give the insurance company the better. You will often see a higher return on your claims in the end. It requires much more work. However, this is why you need someone to do this full time for you. Forget ICD-9. It is a thing of the past. Instead, focus your attention on what needs to be done.
About the Author:
Our organization is a professional medical billing and coding organization in the Florida. Our clients depend on us for facility billing services and other types of billing. We offer products such as verification of benefits and utilization management.
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