Nevada Medical Billers Help Increase Patient PaymentsOctober 30, 2012
Though the Affordable Care Act has put medical insurance within the reach of many, healthcare costs continue to rise and patients are paying more money out-of-pocket than ever before. When patients are unable to cover the cost of care (whether it is due to high co-payments and deductibles or financial difficulties), it can make healthcare organizations experience disruptions in cashflow and even lose money owed for serviced rendered – and this is something that no Nevada physician wants.
The good news is that there are ways for providers to increase patient payments, and working with a Nevada medical billing service can help. Here’s how:
Monitor patient accounts and payment status on a regular basis.
When healthcare practices are understaffed, it can be difficult for employees to keep track of past-due accounts and late-paying patients. However, continuously following up with these patients is the only way to ensure payment. By hiring a Nevada medical billing service, physicians can focus on the medical side of the business while billing experts handle billing and collections. This can involve working out payment plans with patients and monitoring accounts to ensure that payments are being made on time.
Appeal denied claims.
When an insurance company denies a medical claim sometimes the healthcare facility ends up writing it off, but other times the responsibility falls on the patient. With either scenario, the medical organization can end up losing money. Not all denied claims are rightfully denied, however, and medical billers should know how to spot ones that can be resubmitted for appeal. By using electronic claims processing software, for example, experienced medical billing companies are able to track all submitted claims, find the reason why certain ones are denied, and collect the information necessary in order to appeal them.
Check if patients qualify for Charity Care Assistance.
Uninsured and underinsured patients who receive medical treatment at hospitals are often left with large medical bills to pay and don’t have the resources to do so. This means that very often hospitals bill for services but never receive reimbursement, as patients are financially unable to make payment. There are, however, government funds which can help patients and hospitals in these types of situations. The problem is that many patients do not know about these programs, and therefore never apply to see if they are eligible for aid. Hospitals who wish to increase patient payments should work with patients facing financial difficulties to verify charity care eligibility. In order to qualify, patients are typically required to meet all three of the following requirements:
- Have no health coverage or partial health coverage
- Do not qualify for private or government-sponsored coverage
- Meet specific income and assets eligibility criteria (varies)
Third-party billing companies often help healthcare organizations determine patient eligibility and can also set up payment plans for patients who do not qualify for charity care or only qualify for partial assistance.
Are you looking for a medical billing company that can help get your organization’s accounts in order? Contact 5 Star Billing Services at 480-821-1371 to learn more about the benefits of working with our five-star billers.