10 Best Practices for Medical Billing and Collection

10 Best Practices for Medical Billing and Collection

Is your medical billing and collection process compliant? Does it best serve the interests of your patients and company? Here are 10 best practices to follow.

As a medical practitioner, you have a lot to keep track of. With so many things to take care of, not to mention caring for your patients themselves, how can you most efficiently carry out billing and collection? The simplest way is to focus on best practices.

There are right ways to perform these tasks, but there are wrong ways too. Are you sure you’re doing it the right way?

If not, it’s time for a checkup. Here are 10 best practices that will help you make sure your medical billing and collection are up to par.

1. Make Targets Visible

Goals are great motivators, no matter what kind of work you’re doing. The same thing applies to billing and collection as with anything else.

Let your team know what their targets are. Make them visible at all times, and update them every day.

You can do this in many different ways. Your targets could be updated on a whiteboard, electronically, or shown in an internal system.

However you do it, keep those goals visible! They’ll keep your team motivated throughout the day.

2. Always Look for Ways to Improve

Keep a constant eye out for possible improvement. There’s usually something that can be done better.

If you assume all is well, you’ll never notice those things that could be done better. So always be on the lookout.

Do bills get sent out late sometimes? There’s some improvement to be made there.

Whatever it is, once you find the weak spot, you can make it stronger.

3. Post Realtime Figures

Goals are great for motivation, but so are real-time numbers. Posting them is a great way to keep your team up to date with how they’re doing.

If you have your goals posted, your team knows what they’re aiming for. But what if they don’t know how well they’re doing so far? That doesn’t make sense.

If you want you and your team to do the best you can, make sure everyone knows where the numbers currently stand.

4. Code Everything

Coding is an important part of medical billing. Making sure it isn’t skipped is one way to keep your practice running in the best way possible.

Your coders should be coding everything. If you notice that some things are getting skipped, make sure you talk to your employees.

The more thoroughly the coding, the more smoothly billing will go now and in the future.

5. Offer Ongoing Training

Technology and procedures change. This means, to keep your practice most efficient, you’ll have to change with them.

As new methods and programs are implemented you’ll need to offer training. Keep your employees up to date with the tools they need to use to get their job done.

If you’re carrying out these procedures yourself, make sure you stay up to date. You may want to learn the ropes even if someone else is handling these jobs, so you can help them most effectively.

If your programs and procedures haven’t changed but it’s been a while since training was offered, it never hurts to provide a general reminder for the team.

6. Stay on Top of Unpaid Bills

Just because bills are sent out to patients, that doesn’t mean those bills have been paid. You and your team will need to make sure any unpaid bills receive follow up communications.

Review each patient account regularly to make sure there aren’t any bills that haven’t been paid. If there are, take action to get those bills taken care of.

7. Automate as Much as Possible

Manual work takes time. That’s time that you and your staff could be spending elsewhere.

To limit the amount to time spent inefficiently, take advantage of automated processes. These are processes that can be handled by modern technology.

Just because you’re dealing with technology, that doesn’t mean you have to give up your way of doing things. Many programs can be customized to keep your tasks the way you like them.

8. Watch Performance

Is your team completely in-house? Or have you outsourced for more efficiency? Whichever way you’ve chosen to do things, keep an eye on performance.

As the practitioner, you have the right to monitor the work of your staff. Make sure they’re all making the most of their time on the clock.

If they’re not, provide training, incentives, or other motivators to help them do their best.

9. Celebrate Improvements and Successes

Reports will help you see how well every process of your practice is doing. Whenever improvements or other successes come along, celebrate them!

Celebrations are great motivators. They let your staff know that you’re pleased with their work. It also keeps them updated as to how well the team is doing so they can support each other.

10. Reach Out to Others in the Industry

Your peers face many of the same challenges and tasks that you do on a daily basis. So don’t hesitate to reach out to see what works for them.

You never know, they may use a tool that could greatly enhance your staff’s productivity. And you might have some appreciated tips to share as well.

Get Help With Medical Billing and Collection

Medical billing and collection take time and effort. But when handled efficiently, they don’t have to take you away from other important tasks.

Use these best practices to ensure you and your staff are doing the best job you can. You may be surprised how much they help.

If you’d rather have someone else help with your billing and collection, there are options there too. We offer several services that can help your practice be more efficient. Contact us today to see how we can help!