Are Physicians Losing Revenue? Technologies makes to concentrate more on patient collections. http://www.medicalbillingstar.com/blog/can-healthcare-it-help-physicians-in-increasing-patient-collections/

1. Are Physicians Losing
Revenue? Concentrate On
Patient Collections .
Presented by,
Angomark, MedicalBillingStar

2. Fail to adopt
Many Physicians Fail to Adopt the widely
used technologies for the patient billing and
collections where their medical practices is
pushed to
lost productivity
Slow reimbursement, and
Underpayments.

3. Patient collections made ease
through technologies !
1. Electronic Funds Transfer
(EFT)
Using EFT eases the number of checks
that your billing staff will have to deposit
and also provides better audit control.

4. 2. Remote Deposit Capture
(RDC)
EFT can considerably scale back the
quantity of insurance checks flowing to the
office; but, there stay check payments from
patients.
For those checks, use (RDC) a scanner that
converts a paper check up on an automatic
financial organisation (ACH) dealings and
deposits funds into the practice's checking
account.

5. 3.Electronic Remittance Advice
(ERA)
Instead of manually keying knowledge from a
explanation of benefits (EOB), Associate in
Nursing electronic file is received from
the money dealer and auto-posted.
The method is coordinated through your
claims clearinghouse. this permits billers
to specialise in following up unpaid
claims, instead of tedious knowledge.

6. 4.Electronic Filing of Worker’s
Compensation Claims
Clearinghouses also are able
to electronically file secondary claims
that don't mechanically cross over, as
long as you've got ERA.
It eliminates the terribly back breaking
method of employing a black marker to
de-identify alternative patients on
associate degree of EOB

7. 5.Batch Eligibility
Virtually all practice management
systems or clearinghouses have the
aptitude to verify the insurance of
scheduled patients.
Preregister all patients and permit your
PM system to verify insurance in
advance of appointments to cut denials
for "coverage not effective at date of
service.

8. 6. Cost Estimators
An emergent number of payers are
proposing cost estimators on their
practices.
This is an invaluable tool for practices
to afford an assessment to patients
based on CPT codes during financial
counselling, and an aid in assembling
patient co-pay’s and deductibles before
to a non-emergency procedure.

9. 7. Analysing Underpayments
Many practices are able to upload payer fee
schedules directly into their PM system
and, on a per transaction basis, equate the
payment amount to the contract amount or
run exemption reports.
There are third party claims offered at
reasonable costs that analyse
underpayments, and let you to request those
underpayments.

10. Thank You !
Want to increase your patient billing
collection ratio ?
Visit us http://www.MedicalBillingStar.com