You have to accept that reworking on the denied claims can decrease burden on healthcare billing companies to a larger extent.
Every year, Neurology medical billing services rules are updated, it’s very essential and imperative to notice and be at the top of latest guidelines to avoid revenue loss or payments.
Outsourcing Neurology medical billing services to healthcare billing companies turns out to be a better option if a healthcare provider decides to put patient responsibility as first priority.
What are the Neurology services offered by Healthcare Billing Companies?
- Neurology Medical Billing Services
- Neurology Denial Management
- AR follow up for Neurology Denials
- Credentialing Services
- Pre-Authorization
- Charge Entry and Posting
- The top most requirements for healthcare professionals are to have error free billing along with HIPAA compliance payment capture.
- Healthcare billing companies understand healthcare professionals’ billing requirements better, to improve payment methods and guarantee revenue growth in the business.
- Proper claim submission to the insurance companies by focusing on the missed information and error free billing makes fastens reimbursements and lowers the risk of claim denials.
- More denials due to negligence can cause permanent loss of revenue and also brings a grave situation especially for small healthcare business groups.
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Neurology Denial Management:
- When submitted claims are denied, it might cause distress to healthcare professionals such that the thought of reworking also can be disconcerting for them.
- Being prepared for a denial management can make the work easy and would reduce hazardous tasks involved after the submitted claims get denied.
- A talented and perfect denial management team will be aware of the major errors and mistakes involved in the claim denials.
- Rectifying those errors by rechecking those claims and transmits or resubmitting them once again within the timely filing limit is an important process.
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AR follow up and Neurology Denials:
- Routine denials or rejections and delayed payments can be bad for the revenue cycle management services in healthcare billing companies.
- Regular follow up on the denials can let healthcare professionals relax and pursue their payments on time without any revenue loss.
- Routine reminders and alerts will keep medical billing team updated regarding follow ups on denials and collect reports on the denied claims.
- Excessive paperwork can be diverted to the healthcare billing companies in order to avoid strenuous work due to denials.
- Credentialing services provided by healthcare billing companies gives opportunity for the specialists to establish patient eligibility and see the procedures covered by the insurance companies.
- Possibility to have a closer look at the patient profile and insurance policies to investigate and decide if patient can avail neurological procedure, diagnosis and treatment as per policies of the payer.
- There are situations where the patients are not eligible for the procedure covered by the insurance companies yet the healthcare professionals have no other choice but just follow up with claims until revenue payments are received.
- It’s a real burden on the shoulders of healthcare professionals when there is a risk in collecting those payments and experiencing revenue reimbursements.
- To prevent and avoid such hassles, obtaining Pre-authorization in advance can be a better plan and aid for healthcare providers to maintain a peaceful patient care and responsibility.
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Charge Entry and Posting:
- The submitted claims are reconciled and payments are sent to the respective accounts in the medical billing system, the Electronic Remittance Advice sent by the payers are stored securely for future reference.
- Healthcare billing companies handle charge entry and payment posting in a systematic way according to the client’s requirements to allow and encourage revenue payments or refunds.
Process Followed for Neurology Medical Billing In Healthcare Billing Companies:
- Execution of Service Agreement
- Project Allocation
- Secured Data Entry
- Billing Services
- Data Quality Check
- Denial Management
- Final Claims Submission
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Execution of Service Agreement:
When healthcare professionals choose healthcare billing companies to have contract for a billing project, they should make sure the paperwork on service execution is proper and that includes business associate agreement.
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Project Allocation:
Neurology medical billing services will be allocated to well-qualified and certified team with AAPC certified coding and billing professionals as well as project manager.
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Secured Data Entry:
In order to transmit or submit clinical and insurance data, healthcare billing companies provide a highly secured data storage. Access to Electronic Health Record and document management is also allowed.
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Billing Services:
Healthcare billing companies use potential software system and AAPC certified experts who are highly qualified and experienced in ICD-10, ICD-11 and DSM-5 system coding and billing according to HIPAA guidelines.
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Data Quality Check:
All the submitted claims are thoroughly checked whether it meets the policy guidelines of insurance companies as well as HIPAA. The claims are submitted only if it fulfills all the requirements of the insurance company’s policies.
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Denial Management:
Patient demographic details are the most vital amongst all the information involved to submit a claim.
Healthcare billing companies don’t hesitate to have a keen check up on the errors, mistakes and unavailable data especially in the neurology medical billing services and the details provided in the claims.
Proper analyzation and rectification of these patient demographic details and insurance data would keep the denials away from the healthcare professionals or the clients.
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Final Claim Submission:
Every insurance company follows their own format for claim submission based on their company’s rules and policies. While filing the claim digitally, it’s very crucial to keep the data on track and know the claim submission format of the insurance companies. This process helps healthcare billing companies get faster and quicker updates on claim status from the payers end without any delay.
How does outsourcing help Providers in billing?
- It improves payment collections for practice. Healthcare billing companies will have certified coders who are capable of tackling huge and complicated bills and also aims for highest reimbursement rates.
- It also reduces cost for services and software implementation and expenditures which in fact removes the burden of healthcare professionals.
- Better patientcare guaranteed. As revenue cycle companies set their responsibility in acceleration of payments, it releases stress and gives opportunity to have peace of mind while handling patients.
- It involves in bringing more time for patientcare and removes hectic things those cause billing difficulties that slows down the process.
- Intelligent and better customer service allows anytime assistance regarding payments or denials.
- Direct access for software also provides transparent ability to have an eye on billing and revenue payment data.
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