The specialty of pathology has an important role in every sector of medicine. The pathology specialists are experts regarding illnesses and diseases of human kinds. Through their studies and knowledge, pathologists guide medical workers on the best approaches that can be used to treat some specific diseases. They also create and work on new technologies and processes to fight diseases, and this is why they spent most of their time researching to enhance medicinal effects.
A pathologist’s time is very valuable as they are always working on creating alternatives for common and life-threatening diseases. The unfortunate thing is that, just like other specialties, pathologists also face problems getting full reimbursement for their services. This is because the process of pathology medical billing is also very difficult and complicated. Fortunately, to help pathologists, medical billing companies like UControl Billing provides medical billing services for pathology. A pathologist can work in peace with their services, knowing that they will get reimbursed promptly!
Want to know more about pathology medical billing and medical coding services? Keep scrolling down!
Six Ways To Improve Pathology Billing Services
Here are six tips that can help medical practices and medical billing companies in conducting efficient pathology billing services:
Optimize Collection Management
To save time, the staff present on the front-end should initially ask patients about the coverage policies. The providers who wait to collect may face poor billing and revenue management. Research showed that the providers usually only get to collect 15% of the payment when they provide the service. This makes it harder to collect the payment in the future, even though patients return for additional visits. It was also discovered that only 6% of the payment exceeded $200 are mostly collected. To avoid such situations, a medical practice should create a transparent collection policy and ensure that every patient is aware of their outstanding dues.
You can hang or place posters on the walls of your waiting area to make the patient aware of the time they are expected to pay for the services and list down how payments can be processed. Providing the patient with the option to pay via a mobile device before the appointment can also help the practice to collect more payments.
Stop Post-Visit Billing
It is a known fact that the best way to improve the pathology medical billing services is by stopping sending bills. This sort of billing and collection increases the administrative staff’s work and hence wastes a lot of their time. The time they waste on post-visit billing can be spent on the more valuable undertakings, such as providing the best patient care services.
In addition, billing statements also negatively cost a healthcare facility. It may also have a bad effect on retaining patients and impact patients’ experience. As the payment process is the final and most important point of contact between the patient and the medical practice, so it should leave a very positive impact on the patients. This is the reason that the billing process should be convenient and efficient. A medical practice should create comprehensive medical bills that patients can understand easily.
Automate E & B
Most of the medical bills have medical errors, which make the patient more confused regarding the coverage, and this is the most common cause that reduces the chances of them paying on time. Inaccurate medical bills also have a bad effect on the revenue as well as efficiency of the medical office because it increases the chances of claim denials. In addition, resubmission of rejected claims also takes more time and effort of the staff and leaves the practice waiting to get reimbursed.
Many practices automate these processes by outsourcing medical billing and medical coding services from third parties to get out of such a situation. This way, the administrative staff spends more time on what is more important. Also, medical billing companies have trained medical billers and coders who ensure that all the claims are error-free before they are submitted.
A clear and straightforward collection policy improves the medical billing services and builds an organization’s reputation, brand and better patient relationships. Recent studies have shown that there is a direct realtor between patient-provider trust, cost pressures, and treatment compliance. If the collection process of medical practice is aggressive, then the trust and relation between the patient and the provider may get damaged, which may negatively affect the practice’s health.
Therefore, good practice allows their patients to pay dues in several ways to minimize late repayments. Also, unexpected bills or over-changing should be avoided. Also, let the patients know about the services covered under their insurance coverage and the services they have to pay out of their own pockets.
Provide Flexible Payment Options
To get paid without issues, provide your patients with flexible time-of-service collection methods, such as online payment, card on file or payment plans. If the patients are provided with such convenient and private ways to pay, then the medical billing of medical practice will improve, and the revenue will also be boosted-up!
As the demand for healthcare facilities has increased, most patients prefer self-service payment options like online or card payments. Also, recent surveys have shown that most patients tend to pay their medical bills using credit cards or other online payments options.
Advance Cost Estimation
Medical billing services can be improved with the help of cost estimation tools. These tools automatically calculate the estimated charges of patient visits before their arrival. This helps to educate the patients of their financial responsibility and provides practitioners the knowledge about the costs of the services they have provided. The staff can also easily demand the payments due to the patients. Also, more transparency implies more patient loyalty as well as retention!
Why outsource Pathology Medical Billing Services?
Here are a few reasons that make outsourcing medical billing and medical coding services a good option!
Less operational costs
In-house medical billing burdens their staff with extra responsibilities. In addition, they also cannot manage and give proper training to their staff. In contrast, medical billing companies have staff that collaborates to maintain the process of medical billing. In addition, it also reduces the utilization of space and equipment.
Improved financial performance
With the help of medical coding service providers, a pathologist can work on the area of their expertise. On the other hand, the team of professional medical billers and coders of the medical billing company can optimize the billing process to improve the practice’s financial performance!
Gives an advantage over the competitors
The medical coders and billers of medical billing services providers stay up to date with guidelines of pathology billing. This allows your practice to work on streamlining their patient care and also stay ahead of their competitors in every regard.
Let us wrap it up!
If your practice is struggling to maintain its pathology medical billing services and collections, outsourcing these services from a medical billing company is the best option. Your practice can avoid delays, revenue loss, and denials with its services. UControl Billing is a company that has an efficient staff for providing the best pathology medical billing and medical coding services. To know more about their services, click on the attached link!