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Chiropractic Medical Billing Chiropractic Medical Billing

What Chiropractic Medical Billing Is Right for You? Outsourced or In-House Billing

As the owner of a chiropractic office, your billing and collections systems are at the core of your practice. When there is a hurdle in these systems, the stress and cost can be immense. By knowing which method of billing is right for your practice, you will have more solid footing as you consider and weight out your options for chiropractic medical billing.

Are you teetering on the idea of outsourced billing? At the same time, do you feel reluctant to hand over your medical billing to another company? As you think about this important question, you might also wonder:

  • How can I find the best chiropractic billing software?
  • Will my practice be correctly managed?
  • Is outsourcing by bills cost-effective?

Perhaps you are leaning more towards in-house billing, but you are struggling with an organized system that can be managed correctly. For example, there might only be one billing department personnel, or some uncertainty about what is going on.

Is There Something Right for Medical Billing for Chiropractors? Yes!

To know what is right for you, and your practice, various considerations should be factored into your needs. The following are some of these considerations that chiropractic offices need to ensure effective billing and collections. As we explain some of these considerations, take a moment to think about how your own practice rates in terms of functionality of these areas. Once you do so, you will have an idea of whether you will benefit from in house or outsource a chiropractic billing company.

Time Management

Just as you need to schedule time with your patients and important business tasks, it is important to manage time for your billing. This includes consistency each week that meets the needs of your practice. It will also be important for your time to be uninterrupted to maximize efficiency and avoid mistakes.

Training

Many offices find themselves challenged after there are new updates or changes made to chiropractic billing services. When updated guidelines or codes are not utilized, payments may be denied or rejected due to noncompliance. It is important to understand that codes are often revised. By ensuring ongoing training and updates, you can ensure:

  • A minimized risk of errors
  • Improved billing/ provider communications
  • Creating of a streamlined billing system
  • The development of better patient-doctor relationships
  • Improved risk management for investigative actions

In short, whether you choose your chiropractic medical billing department to be in-house or outsourced, you must never turn a blind eye to what is going on with your billing department. The great news is that there are a number of tools available at your disposal, beginning with Genesis Chiropractic Software.

Common Questions About Chiropractic Medical Billing

Efficient billing is part of having a successful chiropractic office. Here are some common questions about chiropractic medical billing.

Is an external, dedicated billing service worth it?

If you value efficiency, operations with minimal errors, and a high level of patient service, you should consider hiring a billing service for your practice. In addition to freeing your current staff to care for patients, a dedicated billing service stays current on frequently changing industry regulations to save you from incurring penalties.

Why can’t I simply hire a few more people to handle billing?

Over time, hiring additional staff may not be as cost-effective as outsourcing this vital service to a company specialized in chiropractic medical billing.

Won’t working with an outside billing company be more complicated than in-office billing?

Working with a billing specialist is efficient if you choose a knowledgeable company that gives you options to enhance convenience. Examples include providing you with a single point of contact for managing your practice’s billing needs and giving you the ability to customize automated services for your specific circumstances.

What can an outside billing service do that my employees cannot?

A dedicated billing service that employs specialists is able to gather and analyze data that can help you grow your practice. Understanding patient demographics, for example, may help you pinpoint underserved populations who might benefit from your services. You can help more people while you grow your practice, a win for everyone.

How exactly can a billing company improve patient service?

A billing service can help you improve patient service and satisfaction in multiple ways, including:

  • Patients can check in online
  • Bilingual services
  • Less time spent waiting
  • Fewer mistakes
  • Patients can enter medical information online before their appointment

Higher patient satisfaction can lead to postive word-of-mouth marketing in the community, which is the most valuable advertising you can have.

Won’t in-office billing give me a better idea of my office’s profits?

If the staff handling your billing are not well-trained in billing services, the results can be more of a muddle than a help in seeing an overall picture of financial strength. Choose a chiropractic medical billing provider that has the capacity to capture and report on the number of bills each day. Billing specialists can also look at collections for a given period. This focused data gives you a clear snapshot of how strong your business is financially.

Isn’t billing and coding just a simple set of rules my employees can follow?

Medical billing and coding is a complicated process, and chiropractic medical billing experts are the most qualified to assess and process claims.

Genesis Chiropractic Software has everything you need to kickstart and streamline your chiropractic business. It will allow you to create and manage a sustainable, profitable chiropractic office that fulfills your purpose. To learn more about our chiropractic medical billing software, call Genesis Chiropractic Software today.

5 Factors That Can Cause Your Billing Department Problems

1. Office Management

Office management is an integral part of your chiropractic medical billing. When your system is streamlined, your staff can efficiently and quickly handle your billing and ensure no errors. That improves other aspects of your office management and the total amount of revenue your practice brings in. In other words, when your systems are streamlined, you’ll have a much better business going for you.

However, this is often a problem in chiropractic offices that have trouble documenting diagnoses, entering proper codes, finding trained staff, maintaining a healthy account receivable, and other management issues. In other words, when your management systems are poor, you can lose revenue and have an inefficient system. Therefore, you must make streamlining your office management a priority.

2. Accounts Receivable

Your accounts receivable department will face many challenges, including delayed claims, over-the-counter collection mishaps, inefficiency, and communication problems. Fortunately, Genesis Chiropractic Software can help you straighten out your accounts receivable so your staff can focus on collecting bills that are due. That allows you to focus on your patients and have the peace of mind that your office is running smoothly.

3. CPT Codes

You’ll only diagnose a few types of musculoskeletal conditions for the most part. However, your chiropractic medical billing department can still make mistakes with procedure codes, diagnostic tests, code details, and CPT codes. When your coding is wrong, you’ll end up with rejected claims and lost revenue. Ensuring there are no mistakes in this area is the key to ensuring your claims are paid in full without rejections.

4. Audits

The biggest fear of many chiropractic is a billing department audit. That’s because your poor office management can lead to a lack of control measures on claims forms and other problems that can leave you in trouble. Thankfully, Genesis Chiropractic Software offers you the ability to avoid claims form filing, modifiers, coding, and billing errors so that you can pass your audits with ease.

5. Cloud-Based Software

Losing your clients’ data could be devastating for your practice. While your patients may be your priority, maintaining their data should be a close second. As long as they are still visiting your office, you’ll want to have their data on hand so you can easily file claims and do other tasks. Many practitioners don’t like cloud-based software because you technically don’t own your patients’ data, and if you stop paying for the service, you’ll lose that information.