Uploaded on Feb 17, 2023
Looking for easy tips to improve revenue for your chiropractic billing services? Call our experts at +1 888-502-0537 to know more about it
3 Easy Tips To Improve Revenue For Chiropractic Billing Services
3 EASY TIPS TO IMPROVE REVENUE
FOR CHIROPRACTIC BILLING
SERVICES
Given the current hectic lifestyle that most individuals lead with little physical
activity, Chiropractic centers are receiving a lot of patients each day. As a
result, staff and practitioners are overworked, and when they have to take
care of the billing process with that workload, it can be a step toward revenue
loss. However, that should not be the case. Instead, chiropractic facilities,
with an increase in patient numbers, must be making money. But the reality
in most practices is different. Because of the ever-changing government rules
and health insurance policy updates, staying on top of the changes can be
pretty problematic. As per the latest rules, incorrect coding and billing results
in revenue loss in chiropractic services and, at times, draws attention from
the authorities for overbilling, which can be termed abuse or fraud.
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There are three easy tips that any chiropractic facility
can follow in such a scenario to improve its revenue for
chiropractic billing services:
1. Documentation & Insurance Contracts
90 percent of services provided by chiropractic services, lab tests, and imaging get their
claims rejected or denied due to insufficient documentation. At times, the lack of
documentation has also been a reason for the practice not getting paid for the services.
Hence, every patient’s documentation must be done correctly to ensure no revenue loss.
2. Training your patients and staff
Due to the lack of knowledge about insurance terminologies, patients are
experiencing more deductibles and co-pays than ever before in
chiropractic medical billing. With more awareness among the patients regarding
healthcare, they are getting sensitive about the expenditure. Therefore, every
chiropractic practice must ensure that they get the payment without burdening the
patients. The best way to do that is by educating and communicating with the
patients about the cash they have to pay for the treatment.
https://www.247medicalbillingservices.com [email protected]
3. Optimize and Examine A/R (Account Receivables)
Account Receivables or A/R is one of the key elements for reimbursement for physicians.
Typically, the advice is to keep the A/R between 0 to 21 days. It means the average time
taken to collect the payment from the practice is between these days.
Some of the methods that can be used in optimizing and examining the A/R that can
improve the revenue cycle management are:
- Find the difference between the insurance and the patient accounts receivables
- Establish a relationship with all the payers
- Define, prioritize and determine all the risks by evaluating and understanding the payer-
refund patterns
- Examine the guideline of the payers to understand the ways your A/R can get affected
- For all patient accounts, implement strict collection policies
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How To Ensure These Tips Are
Followed?
• Apart from using all the available resources like the latest medical software
and RCM software, a chiropractic practice can take the help of an outsourced
chiropractic billing company like 24/7 Medical Billing Services.
• A team of experienced medical billing and coding experts in
chiropractic practice can ensure all these steps are followed while helping you
streamline the financial process, increase the monthly revenue for chiropractic
billing services, and reduce any claim rejection and denial. In addition, an
outsourced medical billing company such as 24/7 Medical Billing Services will
ensure you have an improved ROI with a scalable future.
https::///wwww.2.2447m7medeidciaclbaillbliinlglisnegrsveicrevsic.ceosm.com i n f o @ [email protected]
About 24/7 Medical Billing Services
24/7 Medical Billing Services is the nation’s
leading medical billing service provider catering services to more than 43
specialties across the entire 50 states. You can rely on us for end-to-end
revenue cycle management. We guarantee up to 10-20% increase in the
revenue with cost reduction of your practice for up to 50%.
https://www.247medicalbillingservices.com [email protected]
CALL US TODAY :
Media Contact –
24/7 Medical Billing Services,
28405 Osborn Road,
Cleveland, OH, 44140
Tel: + 1 -888-502-0537
Email: [email protected]
Website: https://www.247medicalbillingservices.com/
https://www.247medicalbillingservices.com [email protected]
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