In a fast-paced environment like the medical office, staffers find themselves in the turmoil of things. Due to a hectic schedule and loads of paper works, a staff may commit inevitable human errors.
One of those unlikely circumstances is billing mistakes. In some instances, the management intends to do such things.
The errors also affect the revenue cycle management essential (RCM) for administering patients and treating them. If such problems persist, telemedicine Palm Beach FI and urgent care Boca Raton FI may find difficulty identifying, managing, and collecting the patient service revenue.
We may lessen the chances of billing mistakes by knowing and understanding their root causes and nature. Here are the five most common billing mistakes you should be wary of:
Missing patient details
In the medical field, correctly spelled names, accurate birthdays, and correct diagnosis code matters. That’s why misspelling or leaving blanks is a no-no. Incomplete and incorrect patient information will only cause payment delays and claim denial. Staff should double-check the details to avoid benefit disruptions for the patient.
Patients who received the same bill twice for the same test, treatment, or procedure they didn’t receive means duplicated or wrongful billing happened. It also occurs when the patient’s insurance covers the amount for a rescheduled test or procedure that got canceled. Such practices can sue your firm with a fraud case.
Explanation of benefit (EOB) confusion
An explanation of benefit (EOB) is complex, so employees should carefully read and interpret it before doing anything else. It leads to financial loss for the healthcare organization. Training the staff about the appropriate approaches to apply in different situations when EOBs come will prevent such setbacks from happening.
No time for clearinghouse reports
Clearinghouse plays a vital role as a third-party liaison between the provider and insurance payers for data transactions. Forgetting to submit your clearinghouse reports means a backlog of problems claims to pay. Medical firms should plan well to prepare a timely and accurate clearinghouse report.
Forgetting insurance verification
Most patients got denied with their claims as their insurance plan was already expired or ineligible. Verification is relevant as a patient’s insurance changes when services got rendered. The staff should double-check the plan details before proceeding to the following procedure.