The process of dealing with insurance claims can be a long and painful one–from denied benefits that require multiple interactions with the insurance company to billing errors that could be avoided. If your behavioral health billing is falling behind, it’s good to know that there are options available that can significantly reduce the elapsed time before you receive your payments. Billing software created specifically to support billing for mental health and substance use disorder services helps reduce the potential for errors and get your payments resolved faster than ever.
What Is the Average Turnaround Time for a Substance Abuse Billing Claim Payment From Insurance Companies?
To ensure timely payments, your staff must verify all necessary insurance information, your billing processes must be up to date, and your substance abuse coding standards must be accurate. Even when you’re able to perfectly submit all of your documentation and it is accepted by the insurance companies, you’re still faced with between a two- to four-week turnaround before your facility receives payments from insurance companies and that’s a best case scenario for commercial insurance.
How Can You Ensure That Your Billing Process Is as Efficient as Possible to Receive Timely Payments?
When your behavioral health billing software works as it should, you may be able to reduce your facility’s outstanding accounts receivable timeline. Maintaining this type of behavioral health billing software can be a challenge, which is why many facilities decide to work with third-party billing partners instead of doing this complex work internally. Outsourcing allows your staff members to focus on providing the highest quality of care instead of getting bogged down with the details of coding and billing for the behavioral health space.
What Are Some Common Reasons for Claim Payment Delays in the Substance Abuse Billing Industry?
There are a variety of reasons for delayed or unapproved substance abuse billing company payments. These can include challenges with the coding that has been done on the individual patient accounts, requests that are not submitted in a timely manner, and a mismatch between diagnosis and the billing that has been completed. In some cases provider or facility credentialing was not done correctly from the start.
How Can They Be Avoided?
Fortunately, avoiding these billing challenges doesn’t have to be a nightmare. When you partner with a trained and highly-qualified team of billing specialists, you can be rest assured your substance abuse medical billing will meet all current and future standards, which will also reduce overall cycle time and ensure patient satisfaction. Your team will be able to focus on the quality of your patient care rather than trying to keep up with ongoing changes to medical billing or frustration from working with antiquated billing systems.
Questions about Claim Payment Turnaround Times for Substance Abuse Billing? Contact Coronis Health Today!
Why risk extending your timeline for receiving payment from substance abuse insurance claims? When you work with the knowledgeable professionals at Coronis, you can be confident that you’re getting high-touch support from thought leaders who are continually looking for ways to reduce payment timelines and maximize your revenue cycle. With tailored solutions that can scale with your facility, Coronis offers significant advantages over internal solutions for medical billing software for substance abuse facilities. Contact us online today to request your free financial checkup.