Medical billing for anesthesia services can be more problematic than surgeon, hospital or physical therapy charges. Maximizing revenues for anesthetists and efficient billing for anesthesia is the goal of top medical billers. However, increasing efficiency for anesthesia billing can be a challenge.
Anesthesia billing firms that maximize revenue cycles and sending timely bills are highly valuable to medical providers. Cash flow generated by efficient medical billers can make the difference between profit and loss, particular for anesthesia providers. If your billing for anesthesia practices could use some efficiency fine-tuning, consider these tips for improvement.
Improving Anesthesia Billing Techniques
- Stay in close contact with anesthesia providers, claims payers and contract changes. This tip may, at first, appear obvious, but billing staff often assume contractual information, claims processing and submissions from anesthesiologists are all up-to-date. Unfortunately, contracts are sometimes modified and claims become entangled in payer red tape. Statistics indicate that as many as 40 percent of first time claims are wrongly processed because of unfamiliarity with contracts, providers and/or payers.
- Remain up-to-date with all HIPAA policies, guidelines and procedures. The law is complex and remaining compliant requires regular review and education. Cutting edge billing system software should help, as most proven software is updated with regulation changes and contains relevant compliance requirement information.
- Intensify patient collections. While all medical providers could increase cash flow by implementing this tip, anesthesia professionals should treat this suggestion with all seriousness. Recent years signaled changes in anesthesia billing with co-pay and deductible increases resulting in higher patient dollar responsibilities. Since few patients have direct personal relationships with their anesthesia providers, Tasteful and timely intensity is often needed to collect fees from patients.
- Prepare and submit claims more quickly–but only after reviewing for accuracy. Delays in submitting anesthesia claims typically results in similar payment delays. Inaccurate claim information is an all too frequent event, as providers, both physicians and nurses, often neglect to record all pertinent information, sometimes even the specific procedure performed. Claim accuracy often eliminates most claim payment delays, since there is no valid reason for the payer to decline or delay claim processing.
- Know your industry and your billing software intimately. Because of the relationship difference and complexity of billing for anesthesia, it is imperative that you know every nuance of your industry. Since every state seems to process claims differently, billing for anesthesia procedures demands that you are more than just familiar with current requirements. You should know all there is to know about anesthesia billing and industry trends and procedures. Even outstanding billing software can have little quirks and/or shortcuts that save processing time. Becoming an expert with your software helps using it to its fullest and submitting claims accurately.
Effectively billing for anesthesia is ultimately up to you, the professional. However, these common sense tips will help you achieve outstanding performance for your clients. Learn the complexities and typical issues of billing for anesthesia.
It is also vital that you learn the new ICD-10 anesthesia codes to improve billing efficiency. This unofficial tip, alone, will improve your efficiency as the transition date of the transition from ICD-9 to ICD-10 codes approaches.
Do you have any additional tips that you use to construct and submit claims and bills more efficiently? Would you share these suggestions with your peers to help them become more efficient? Often, new tips can help even the best medical billing staff tweak their performance to new exceptional levels.
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