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Do You Make These Mistakes in Your Medical Practice?

These often-overlooked, but easy to fix, mistakes could be costing you tens of thousands of dollars in lost monthly revenue

  • Missing credentials across all payer lines… results in an unnecessary increase in “out of network” claim denials.
  • False belief that your staff is adequately pursuing payment of denied claims… without acceptable resubmissions within a given period, those claims are forever lost, resulting in permanent loss of revenue.
  • Improper coding based on payer’s updated reimbursement policies… use of outdated codes will restrict your maximum reimbursement for certain common procedures.
  • Improper use of risk adjustment codes… resulting in treatment being delivered but denial of claims.
  • Failure to develop a Strategic Coding Optimization policy to ensure compliance with your payer’s quarterly coding updates… increases denial of claims and reduces average reimbursement rate across all patient encounters
  • Outsourced or lack of on-site ancillary services… resulting in additional expense with minimal increase in revenue.
  • Failure to periodically review and analyze every patient encounter across all payer lines… resulting in a continued decrease in revenue without identifying and eliminating the cause.