In the ever-changing landscape of chiropractic billing, it is very important for providers to ensure that there are no bottlenecks in the payment process. From healthy accounts receivables and effective practice management to well-trained front-desk staff and expert billers and coders, there are various elements required for running a chiropractic practice profitably.
Here are top four billing challenges that impact chiropractic revenue to a great extent:
- At times coders do downcoding of rendered services in order to distract attention on medical records. This not only results in non-payment from insurance companies but also attracts scrutiny to other records. According to the billing experts, there is no need to modify any data in the records to make it look better.
- Overcoding is another challenge that impacts the possibility of getting timely payments. Coders at times try to confuse the insurance company or the patient with complex, not-required coding which should be avoided at all costs.
- Third billing challenge due to which chiropractors don’t get paid is the failure to demonstrate necessity. It is very important that every chiropractic procedure, whether big or small, is justified medically. In this specialty, there are many conditions that aren’t unique or common to an individual, so it is advisable to keep records of small instances so that the insurance companies know how you do business routinely.
- Not adopting to electronic claims management process is another challenge that many chiropractors face. According to a report, providers can save an estimated $9.5 billion through full electronic adoption of the claims management procedure.
Fourth challenge on the list is not informing patients about their financial responsibilities. As per a survey, there are more than one-third providers who never discuss financial responsibility with their patients. This acts as an obstacle in getting full payment for the services rendered.
Is outsourcing the right solution?
There is no doubt that outsourcing of chiropractic billing services can relieve burden from the in-house staff, enabling them to focus their energies on patient care. However, finding the right service provider is also of utmost importance. Only a team of expert billers and coders will use the latest technology and tools to improve cash flow, boost practice productivity and enhance patient experience. By partnering with the right company, chiropractors can not only increase revenue and ensure quick claim payments but also reduce denials and improve patient retention.