Low orthotics billing returns put orthotics practices under pressure and jeopardize their long-term survival. The businesses need to operate as efficiently as possible while streamlining workflows, improving collections, managing inventory and reducing AR days.
Often providers use multiple systems to complete the business functions. This requires more manual effort resulting in higher operational costs. Simultaneous stagnation of skills in orthotics coding and billing makes it difficult for businesses to maintain seamless operation.
Obstacles in Orthotics Billing
Due to the complexity of the processes in coding and billing of orthotics providers often face issues regarding denied claims and delayed payments. The contributing factors within the problem are as follows:
- Coding errors within the orthotics billing due to improper interpretation of medical information or unfamiliarity with coding information
- Lack of effective inventory management system
- Claim rejection due to incorrect or insufficient documentation
- Effective coding and billing are dependent on the competency of the staff. Inadequate training, lack of coding updates and knowledge and insufficient expertise in managing billing software often lead to denied claims
Approaches to Effective Orthotics Billing
- Streamline inventory management: Manage the order intake and fulfillment process within one system. Track orders and inventory across the lifecycle and locations ensuring inventory count and product availability.
- Integrate technology: One of the major issues affecting orthotics practices is erroneous coding and documentation. This results in deterioration of reimbursements and increased claim denials. However, you can consider integration of technology within the process by implementing electronic claim submissions. The automation of the entire process reduces the risks of errors and ensures faster payments.
- Business analytics: Every business owner needs to understand the market and gain insights to analyze the same. Having key data at your fingertips helps you in informed decision-making. Application of data analytics within the overall process will help you understand the claim denial rates, patterns and reasons. You can implement corrective measures to reduce claim denials and enhance revenue generation.
- Staff training: Regular staff education and training regarding the current regulations and guidelines will enhance the skills of your staff. Furthermore, it will ensure reduced errors in documentation and coding processes which will reduce claim denials.
- Outsourcing options: Efficient orthotics billing demands for specialized skills and knowledge. To maximize the efficiency of the billing process, you can consider an outsourced revenue cycle management organization. The professionals of the outsourced team can drive your ROI growth while reducing the flaws within the billing process.
Take a Step Ahead with Sunknowledge
Managing a seamless operation in orthotics billing requires a constant team of dedicated employees who can handle all your requirements. Outsourcing these processes to an RCM expert like Sunknowledge Services Inc can be the most effective and convenient way to enhance efficiency and accuracy while reducing the administrative costs.
A proficient medical billing company can furnish you with expertise and resources essential for refining your collection process. At just $7 per hour, the team of experts can reduce claim denials and optimize revenue. The outsourcing approach liberates your staff to concentrate on clinical responsibilities and enhance the quality of care.
The company has a proven track record of transforming ROI of numerous providers with 100% HIPAA compliance. You can engage in a discussion with them over a call to better understand how they are transfiguring practices with tailored services.
