Pain management billing services are an increasingly growing segment of the healthcare industry, with a diverse group of pain specialists. As a result, you can be a pain specialist or a physiatrist regardless of what kind of pain care provider you are.
Medical billing is the backbone of any pain management practice revenue cycle. Unfortunately, many pain clinics face significant difficulties in properly and effectively billing payers and patients. Effective Pain management billings are essential to reducing the number of days in accounts receivable and optimizing your clinic’s revenue cycle.
Unfortunately, there are a number of significant problems that can wreak havoc on the sales cycle. These common problems were discovered after an analysis of the most common concerns in pain management billings.
- Claim Denials:
Claims are often rejected or denied due to minor errors. Every letter must precisely fit the medical report, and payers do not even attempt to figure out what was intended if something seems to be wrong.
Since the pain management billing services touch every aspect of health care, from patient intake to payment processing, there are a plethora of mistakes that can be made when entering the correct data.
- Delays in administrative processes:
Many pain management billing services handle claim denials by a time-consuming manual procedure carried out by in-house personnel. As a consequence, claim re-submission is delayed and increases the labor cost.
Outsourcing pain management billing to a group of experts will boost claim rejection settlements, case mix results, and the number of time claimants spend in accounts receivable.
- Increased Financial Responsibility
According to a 2017 Trans Union Healthcare report, patients’ healthcare costs have increased by up to 11%. Since patient expenses are rapidly rising, it is more important than ever to fully educate patients of their financial obligations prior to treatment. The amplified costs are also making it further complex for pain management billings to collect the amount due to them.
- Coding Errors:
Coding errors are the most common cause of billing issues in the pain management industry. This is valid for other specialties as well, but pain management services have a lot of specific billing codes, which necessitates a lot more knowledge than in other practices.
To summarize, in this situation, pain doctors’ best bet is to team up with experienced pain management billing services. They work together and collaborate to ensure that the pain management billing and coding needs are met. These experts will be well-versed in anatomy as well as how the surgeon performs the procedure.
Furthermore, they can help ensure accurate documentation by deciding if the operative note contains the correct information and issuing relevant codes based on that information. This pain management billing services also offer specialist medical billing analysis to assist doctors in evaluating and improving the financial efficiency of their clinic.