According to a 2019 Healthcare & Business Technology report concerning medical billing, nearly $125 billion in medical revenue is not collected by medical offices each year. Many aspects of healthcare reform and the failure to stay up to date on billing rules and regulations in addition to billing errors can cause revenue losses for healthcare providers.
Here are several steps your healthcare practice can take to be more proactive in your medical billing procedures:
- Establish a Clear Collections Process
- Properly Manage Claims
- Reduce Coding Errors
- Promptly Handle Denied/Rejected Claims
- Constantly Look for Ways to Improve
- Know When to Outsource