Growing number of chiropractors are leaning towards outsourcing chiropractic billing to stay afloat in business. This trend is growing as complexities provided by chiropractic billing and modifiers is becoming too difficult to handle.
Compared to hiring in-house experienced billers and coders and investing in latest technologies, providers are finding outsourcing to be more cost-effective and manageable.
Here are some of the benefits that they are reaping by outsourcing chiropractic billing services:
- Boost in collections and income
- 24/7 easy accessibility to patient data as well as financial information
- Improved payments
- Reduced stress and more time for patient care
- Accessibility to financial and practice management reports
- Revenue cycle transparency
Reason why chiropractic claims get denied
There are surveys stating that majority of chiropractic claims fail to meet at least one Medicare documentation requirement due to which they get denied by insurance companies. Some claims either have missing treatment goals or lack of recommended level of care. Additionally, with errors in coding and billing such as the misuse of AT (Acute Treatment) modifier for identifying services is also the reason why many claims get denied or mis-adjudicated.
To avoid denials and obtain maximum payments, it is necessary that chiropractic offices are submitting error-free claims. This can be easily accomplished if they partner with a reliable chiropractic billing company.
In-house Vs Outsourced
There is no doubt that in-house billing gives the satisfaction of full control over finances but it can also be time consuming and daunting to manage.
When outsourced, providers don’t have to worry about claims submission and collections. If they partner with a reliable company, they get access to a team of expert billers and coders who not only submit timely claims but also identify problems areas that need fixing. They determine the best course of action needed to correct problems that lead to revenue leakage.
By letting a third party handle coding and billing needs of your chiropractic office, you can ensure higher revenue and more time for patient care. Reputed companies with their knowledge and dedicated follow-up can help your practice earn more and save more. Your practice can get a higher average return on each processed claim.
So if you want to enjoy multiple benefits and customised services, then outsourcing of chiropractic billing services seems to be the best option for growing the income of your practice.