Managing Billing Challenges Of Mental Health

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Managing Billing Challenges Of Mental Health
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Managing Billing Challenges Of Mental Health
Unique Challenges of Mental Health Mental health
billing offers unique challenges than another
specialty medical billing. The length of the
session, the approach to therapy, and the
willingness of the patient to contribute make it
far more difficult to standardize treatment and
hence billing. Moreover, the manner in which
insurance companies look at mental health is
noticeably unlike the way they look at more
traditional medical practices. Insurance
companies can determine how long treatments are
allowed to take and how many sessions can take
place each day, making it challenging for mental
health providers to balance effective billing
with adequate patient treatment. Additionally,
the requirement of pre-authorization has resulted
in more difficulty and complexity for mental
health billing. With mental health, its quite
common to have a small group or solo practices
with limited administrative support for billing
and other office duties. Some providers will even
try to do the billing themselves but sooner or
later, this will become overwhelming and produce
time management problems, not to mention lost
revenue. All this makes the billing process quite
demanding for mental health professionals. They
need to make sure that they can keep income
levels high while also assuring that each and
every patient gets the utmost quality care.
Without an expert billing team, keeping
up-to-date on healthcare billing codes, changing
regulations, and the billing practices of each
insurance company, practice collections may
decline.
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Managing Billing Challenges Of Mental Health
Managing Billing Challenges of Mental Health One
on hand, having an expert mental health billing
team may not be possible due to financial
limitations. While on the other, handling billing
responsibilities for your practice is not
feasible due to a lack of time and billing
expertise. So, for managing the unique billing
challenges of your mental health practice,
outsourcing is the best option. When you
outsource mental health billing for your
practice, you can dedicate almost all of your
time to patient care. While billing experts from
outsourced billing companies are handling each
and every claim, you can just take a look at the
billing reports to get a complete understanding
of insurance reimbursements. Most of the billing
companies charge on a percentage basis, that is
also on the insurance reimbursements received, so
you dont have to worry about paying extra to
these billing companies. Some of the advantages
of outsourcing your mental health billing are
listed below. Increased Practice
Collections Nothing is more worrisome than
disputing with the insurance carriers over unpaid
claims. When you outsource your mental health
billing, each and every claim will get submitted
on time and any rejected or denied claim will get
resubmitted. This will ensure that all your
sessions are billed and follow-ups are taken
properly to ensure payment for every submitted
claim. Submitting accurate claims, taking follow
up, working on claim rejections, reading
remittance advice, finding a resolution for
denied claims, coordinating with insurance
carriers are been taken care by billing company
only. All these timely activities by the billing
company will ensure increased practice
collections.
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Managing Billing Challenges Of Mental Health

• Clean Claim Submission
• Clean claim submission ensures that you will
  receive insurance reimbursements on time. Clean
  claim submission means accurately entering all
  claim-related details for every claim. This claim
  information includes patient demographics,
  insurance information, payable diagnosis codes,
  date of service, procedure codes, number units,
  rendering provider details, and billing provider
  details. Any mistake in entering any of this
  information could lead to rejecting your claim.
  When your claim got rejected, you have to correct
  the details and resubmit the claim again, this
  delays insurance reimbursements. Experts from
  billing companies are well versed with the clean
  claim submission process and crosschecks all
  submitted claim information to ensure minimum
  rejections.
• Cost-Effective Solutions
• Hiring a full-time in-house medical biller may
  not be feasible for solo or small group practice.
  If you are submitting a smaller number of claims
  then having a dedicated biller may incur more
  cost than income. Most of the medical billing
  companies charge on basis of insurance
  reimbursements received. They will charge
  percentage-wise on insurance collections realized
  at providers end. Its a cost-effective way as
  providers are paying only when they are receiving
  insurance reimbursements.

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Managing Billing Challenges Of Mental Health

• Reduce Overheads
• You can reduce your office expenses by using the
  services of a third-party biller as well as the
  existing software. All you need is a PC and
  access to the internet. The majority of practice
  management software is all-inclusive, even over
  the internet, and is part of the service
  provided. No costly software updates or support
  fees. When you hire an in-house biller, you have
  to manage their payroll, employment benefits,
  holidays, and training expenses also. You can
  reduce all these overheads costs by outsourcing.
• Recover Lost Opportunity
• Every minute spent tracking down claim
  information in the course of your business day is
  a minute youre unable to devote to providing
  direct care. This disruption forces you to miss
  out on would-be income opportunities. Lets say
  you charge 100 per hour and devote one business
  hour every day on billing. In this instance, you
  may be losing up to 500 every week. When you
  recoup this lost time by employing a billing
  service, youll be growing your income potential
  and, in many cases, producing added revenue that
  exceeds the cost of the billing service.
• We can take your mental health billing burden.
• Medisys Data Solutions is providing complete
  billing and coding services to mental health
  providers across states. Our billing services
  ensure accurate insurance reimbursements for all
  submitted claims. To know more about our mental
  health billing services, contact us at
  info_at_medisysdata.com/ 302-261-9187

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