Any medical billing company would like to have on-time collections, of course. Although, it cannot be denied that there are issues that may hinder this from happening. To make sure that every billing is paid successfully, you have to work hard and to be organized. First, do not let a claim sit around for a long time. Once you have received it, process it immediately and inform the insurance company. If you take long in processing it, it would also take longer for the payment to arrive. Follow it up with the insurance company and get a specific answer about when payment will be sent so you could easily inform the patient in case they call or drop by.
Make good use of the available technology we have nowadays. Invest on electronic modes of payment and claims. This is not only convenient, it is also faster. This method is also more reliable because an electronic machine would easily detect entry errors and missed fields. It would immediately inform the patient or the insurance company about it so that it would be corrected right away.
It is necessary to follow-up with insurance companies in a timely manner. If a payment is expected today and it has not yet arrived, call them up. If they give another date, follow it up again on that particular date. If they do not reply at all, try calling them weekly. Regular follow-ups give the insurance company an impression that you are serious about collecting. Most insurance companies would do anything to avoid a payment. Make sure you point out to them that you will keep calling until the collection is sent.
As with other types of businesses, medical billing should document and record all conversations between them and the patient and between them and the insurance company. This way, when something fails and gets neglect, you can easily reference it. If an insurance company refuses to pay, you can inform them about certain conversations you have had or any promise they might have said. This will show them that there is no use for alibis as everything that went on between you is properly documented.
If none of this makes the insurance company pay, involve the patient. You will be surprised to know that patients are very willing to call their insurance companies and demand for payment. This is because if their insurance does not cover it, the bill might be charged to the patient. No patient would ever agree to this. If the patient is very busy or cannot able to contact their insurance company, ask them if you could write a letter or request on their behalf.
