How is your insurance billing in Miami currently being handled?
Is your medical billing department effective at collecting money that your patients owe?
If your finance department is struggling, you may need a new solution to avoid losing thousands. Consider utilizing the services of a revenue management company, like J3 Revenue Cycle Management. Our team will work diligently to improve how the back of your physician’s office is supported and help your facility expand its revenue. In addition to this, you can make immediate changes within your office, beginning at the front desk.
Edit Medical Bills For Errors
Do not allow any medical bills to contain errors, because insurance companies will most likely reject them. Once rejected, your staff will have to redo and resubmit all rejected medical bills, which can take a considerable amount of time. Common mistakes include inputting information incorrectly, such as the patient’s name, provider information, and insurance information. So, make sure the information on the claims is accurate the first time.
Comprehensive Financial Agreement
If your financial agreement is just a few sentences long, you need to expand on it. Any financial agreement a patient signs should include:
- Collection fees
- Attorney costs
- Court costs
- No-show fees
- Form fees
- Prescription refills
- Walk-in fees
- Returned check fees
A financial agreement should give you all the information that is necessary to collect patient balances. Additionally, you should have your staff check to see if the agreement was filed correctly and verify the patient’s insurance and coverage. So, if you are having trouble getting a claim paid, this is a good place to make improvements.
Insurance Claims Follow-Up
We understand that a physician’s office is a busy and hectic environment. Without enough hands on deck, people within your billing staff may be called to perform other duties, like front desk work. As a result, they may not have the time to make a follow-up and ensure the claim gets paid. Insurance companies count on offices not following up, so they do not have to pay the claim. As a result, make sure you have enough resources for a follow-up. It is best to sign up on the insurance company’s website instead of calling them on the phone. This makes the follow-up process more effective, as it reduces the time it takes for insurance companies to check on a claim.
Promptly Handle Denied/Rejected Claims
Denied claims are ones that the insurance company has processed but will not pay because of a violation or other major error. A rejected claim generally cannot be processed by the insurance company because it has one or more small errors. Both processes are time-consuming, denied claims being the costliest and most tedious of the two. Nevertheless, when a denied or rejected claim comes through your office, it is important to handle them immediately.
Is your medical facility tracking the performance of its revenue cycle by analyzing key data? The right software can allow you to compare old strategies with new ones and see which yielded the best rest results. Managing a revenue cycle is a full-time job, but you can benefit from hiring a revenue management company, such as J3 Revenue Cycle Management.
Automate Revenue Cycle
Many facilities have an outdated method for handling finances. If you are still paper-based, it is time to enter into the 21st century with automated technology, which can save your practice time and money. The right software, though useful, can be intimidating, which is why our team aims aim to help physicians by managing their cash flow and revenue process. We will:
- Train medical staff on how to use new automation tools, like correct techniques for data input.
- Provide comprehensive solutions, like advanced services to ensure data quality and information accuracy.
- Support the back of the medical practice to ensure faster payments.
- Provide 24/7 video conferencing to help your staff input the data in real-time.
There have been too many recent changes within the healthcare system to continue the same old techniques. You are probably already seeing revenue loss with the many changes to the billing rules and regulations along with other new challenges. The old approach of handling your revenue cycle only adds additional burdens. We understand that when health systems adopt new technology, improper training leads to mistakes, which is why we offer our hands-on approach, like 24/7 video conferencing.
Contact J3 Revenue Cycle Management
We are committed to providing comprehensive services while changing the way medical billing is handled. Our founder has a proven track record of over 30 years of experience in Finance and Client Service. He knows that keeping his client’s cash flow positive is the primary responsibility for the financial success of a medical office. For insurance billing in Miami, contact J3 Revenue Cycle Management. Call (954) 544-2706 to get started.