Billing is one part of running a chiropractic office that most providers dread. Since chiropractic billing is different from other specialties, it is vital to have the best billers and coders on board. If you are a chiropractor hesitating to outsource your billing needs to a third party, then here are top five reasons that might help you agree to this idea:
- It is very important to have a good understanding of coverage standards of Medicare and other private payers and the best way to bill for those services. If your billers aren’t aware of the standards, it will become extremely difficult to run a profitable office.
- Did you know, in 2018, Oelwein chiropractor had to agree to pay $79,919 for resolving allegations of improper Medicaid and Medicare billing? He had allegedly violated the False Claims Act by billing medicare and Medicaid in an improper manner. If you don’t wish to experience a spike in claim denials and pay hefty penalties, then you need to let experts handle the billing part.
- Handling chiropractic billing in-house means strain on you and your staff. You will have less time for delivering quality care as you will remain bogged down with administrative tasks. All this will add to stress, resulting in burnout. But when you outsource, your practice will be assigned a dedicated team of expert billers who will take care of your revenue cycle, leaving you time to focus on quality care.
- Imagine the amount of money you will be saving if you don’t have to invest in latest billing software or technology or spend money on training in-house billers. Challenges like managing storage space or hiring of new coders will also vanish if you let a third party handle billing for you.
- There will be no hassles related to compliance with latest reforms or regulatory changes. Reputed billing companies make sure that their services are HIPAA compliant and that all rules are followed. You don’t have to worry about legal issues, penalties or audits.
Outsourcing your chiropractic billing needs to a reliable company will make your billing more efficient, a win-win situation for all parties. Expert A/R mangers will be assigned to your practice who will make sure that no hard-earned dollar is left on the table. When you outsource, you will not only earn more but also save more.