Uploaded on Mar 2, 2023
Get ready to keep up with confusing challenges with optometry billing, insurance requirements, complicated EDI and manage claims with us.
Top 5 Challenges With Optometry Billing PPT
TOP 5 CHALLENGES WITH
OPTOMETRY BILLING
Since people are in need of eye care in the last few years, technology and
healthcare are also advancing for the problems pertaining to eye care.
Healthcare providers are getting top-notch techniques to improve life
expectancy and optometry is not an exception to it. Age related conditions
like cataracts and presbyopia are getting complicated with the changing
lifestyle and these conditions are impacting the cognitive, behavioral, and
physical abilities of patients. Optometry practices have the same goals as
any other small business – when they try to thrive. A thriving business
focuses on revenue growth while providing a better experience to its
customers. Even patients of optometry practices need better experiences
when it comes to payments, and insurance claims.
https::///wwww.2.2447m7medeidciaclbaillbliinlglisnegrsveicrevsic.ceosm.com i n f o @ [email protected]
Let’s take a quick glance at the top
challenges faced by optometrists
Inefficient staff for data recording: With EMR and EHR are getting normal
day by day, medical staff inefficient in recording patient data in the real-time
world is becoming redundant in the optometry care market. Collecting and
recording required information with appropriate codes is a necessary step that
may ruin the entire billing and coding process if you ignore it.
Medicare and Medicaid billing: With millions of patients getting covered
under Medicare since 2015, optometry patients are also getting covered by
government carriers. Although most private optometrists don’t cover services
under Medicare and Medicaid provisions, they still need to manage their revenue
cycle to make sure the claim settlement ratio is well-maintained.
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Bad debts and Account receivables: About 30% of the annual revenue of an optometry
clinic is lost to bad debts due to irregular follow-up and customer dissatisfaction.
Optometry clinics and practitioners need to have regular follow-ups and fulfil data
requirements to manage account receivables.
Medical Billing Service Providers: It’s a common picture that many optometrists
outsource their medical billing and coding process to professional teams. Every medical
biller and coder cannot be equipped with equal capabilities and skills to deliver consistent
service and specific needs of your optometry medical billing. Inefficient
medical billing and coding company can be one of the challenges your optometry
practice may face.
HIPPA Compliance: Following the rules and reforms of HIPAA for patient health
information i.e. PHI protection is important for any covered entity. Sharing medical
information with insurance companies and carriers like Medicare and Medicaid for claim
settlement makes an optometry practice to be a covered entity.
https::///wwww.2.2447m7medeidciaclbaillbliinlglisnegrsveicrevsic.ceosm.com i n f o @ [email protected]
HERE ARE SOME PRO TIPS TO MANAGE AND
OVERCOME SUCH CHALLENGES IN OPTOMETRY
MEDICAL BILLING:
• Identify if the provider is approved by the insurance payer
• Keep accurate records for coding patient visits
• Avoid rejections, denials, and fines by using modifiers
• Stay updated with LCD, MAC, and Listserv updates
• Don’t delay in following up with denial claims
• Review most common coding denials and adjustment reasons
• Collect co-pays, coinsurance, and deductibles before the patient leaves
• Know when to bill routine vision Vs. medical insurance
• Always complete the interpretation and report (i&r) for specific procedures
• Determine when to use an ABN for non-covered services
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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