Are billing errors hurting your Prescott medical practice? Skyline Medical Billing Management discusses the kinds of problems that errors in medical billing can cause and the steps that medical practices can take to develop their billing department’s accuracy.
It’s a fact that billing is an essential part of any medical practice, no matter how patients are paying, whether through insurance or out of pocket. And with most medical care being as expensive as it is, it’s becoming increasingly more difficult for patients to meet their obligations. According to recent statistics more than half of all patients owe in excess of a $1,000 to their medical providers. So you can see how vitally important it is not to complicate matters through billing errors.Most patient billing errors can be simple, honest mistakes…
- Incorrect diagnostic code
- Typos
- Transposed numbers
…but the consequences can be complicated and serious. Medical billing errors can result in denied insurance claims depriving the practice of vital income. They can result in a patient disputing the charge, thus delaying payment with the same troublesome outcome: depriving the practice of vital income. Far more serious are patients failing to get the care they need because their claims were incorrectly submitted and treatment denied.
Medical billing errors are far more common than most people realize. It is said that approximately 80 percent of all medical bills have billing errors. That is a staggering number. Even the very simplest errors involving patient’s name, address, personal identifiers, account numbers and insurance carrier information all fall under the umbrella of billing errors. Poor or incomplete documentation also contributes to an indefensible number of medical billing errors.
Because medical billing is such a vital part of medical practices, it’s imperative that bills are submitted promptly and accurately. Remember, accuracy is a critically important part of billing. Don’t leave a vital part of your medical practice to part-timers or those not thoroughly trained in medical billing.
Medical billing mistakes are seriously hurting the healthcare industry. Don’t let them hurt your practice. Let the experts at Skyline Medical Billing Management handle the medical billing demands in your Prescott medical practice. For more information on how we can help you, call us today at 928-227-1167.
