First and foremost step to streamline any process is to do in depth analysis to cognize every niche to avoid common and recurring pitfalls. Recognizing the common pitfalls in your Anesthesia Billing can help in developing a streamlined Revenue Cycle Management Services. Unlike billing for various other medical specialties, Anesthesia billing can be perceptibly complex for its difference in charges being calculated by units.
Reimbursement for Anesthesia claims are calculated by adding the units of complexity and risk involved in administering, Skills required to perform the procedure and the time spent by the physician with the patient. Considering these facts while streamlining your Anesthesia Revenue Cycle Management process will help allocate billing staff with required skill set. Let us look keenly into areas to be attended for streamlined RCM for Anesthesia.
Proper and Complete Documentation
Capturing the base and time units with correctness along with any other modifiers is quintessential for billing Anesthesia claims and get reimbursed in the first submission. Any incompetence in following Anesthesia billing guidelines or erring inadvertently during claims processing can lead to unnecessary delays and denials. These minor slips and errs can sum up to huge revenue loss if accumulated.
Experienced Billing and Coding Team
It is essential for medical billers and coders to understand the factors involved in Anesthesia Billing to ensure the guidelines involved are followed diligently. With experience in handling RCM services for Anesthesia clients and with regular training, a professional team of billers and coders can handle your claims efficiently.
Keep a Tab on your Monthly Collections
Track your billing against your net collections every month. If your monthly collections go lesser than 95%, it is time to analyze your billing process and initiate necessary steps to improve overall collections. This also helps identify reasons for low payments and denials, and implement corrective measures. Streamlining RCM process and executing the curative process is the key to maximizing your monthly collections.
Reduce AR Days
If your monthly collections are below 95% chances are most of them are in your AR bucket either because low paid, denied or rejected Claims. Having an effective Account Receivable team can help get them reimbursed at the earliest by regular AR follow-up. It is of prime importance to keep track of your paid vs denied claims and ensure your AR days are not exceeding 30 days. AR claims unattended within the TAT equals lost revenue affecting your financial system.
Outsourcing RCM to Optimize Financial Performance
An outsourced Medical Billing Company can provide seamless services to streamline Anesthesia Practice and billing service. They have the expertise to handle your claims proficiently and provide complete Revenue Cycle Management Services. By outsourcing to an established Medical Billing Company you can have better control over your claims and revenue flow. Look below for some guaranteed benefit of Outsourcing Anesthesia Billing Services
- Streamlined RCM services by billing and coding experts
- Monthly reports projecting paid vs claims-in process
- Efficient Denial Management and Regular AR Follow up
- Secure and safe with HIPAA Compliant
- Hassle-free Billing and Coding Services by professionals
- Quality and Cleaner Claim submission
- Increased Patient Satisfaction
About MGSI
MGSI a 25+ years old medical billing company serving hundreds of physicians across the US. Anesthesia is one of the tops specialty services provided by MGSI, With MGSI as your Revenue Cycle Management partner, your profit will increase as we have the expertise and infrastructure to handle your entire RCM process. MGSI with its experienced team guarantee streamlined billing services. To know more about MGSI and our services call 1-877- 896-6474 or log on to www.mgsionline.com