4 Optometry Medical Billing Tips to Keep the Revenue Stream Flowing
Like every other business, an optometry medical practice needs continuous revenue flow to grow and thrive. A great optometry practice is one that manages to improve its revenues while providing excellent patient care. This can be achieved by efficiently managing all the optometry billing activities.
Errors or discrepancies in optometry medical billing can incur serious financial losses and adversely affect your collections. Outsourcing your optometry billing to CS Eye can help you prevent these losses. We help you carry out the best practices to ensure that accurate and optimal practices are followed to improve your reimbursement rates.
Here are the top 4 tips about practices and procedures that can help you drive the best returns and optimize your optometry medical billing processes.
1. Following Optimal and Ethical Coding Procedures
Appropriate coding is extremely essential to reap the maximum benefits from your optometry billing. Errors or inconsistencies in optometry coding are some of the major reasons for claim denials. This can lead to huge financial losses in the form of penalties and fines.
Following proper optometry procedures codes is essential to ensure that there are no claim denials. Efficient coding and billing solutions can ensure that proper and ethical coding procedures are being followed to derive the best returns for you. This way, with optimal optometry coding practices, you can significantly enhance your collections.
2. Use Modifiers Correctly and Avoid Rejections
Some codes cannot be used together on the same day. Your bill can be denied reimbursement if these codes appear in the same claim. Referring to the NCCI Edits can help you familiarize yourself with the use of CPT codes.
If you must mention two such codes on the same visit for different medical conditions, you can use a modifier to one of the procedures. Modifiers help you describe a service more appropriately so that payment is ensured.
3. Perform Regular Follow-Ups on Denied Claims
Maintaining a stable inflow of cash is key to the success of any optometry practice. One of the best ways to do that is by regularly following up on denied claims. Another way can be to prevent denials by being educated with the common causes of denials.
Regular follow-ups can help you in maintaining an optimal revenue flow for your practice by resolving all the outstanding balances quickly and efficiently. Thus, regular follow-ups on denied claims can play a vital role in significantly enhancing your revenue building activities with improved collections.
4. Ensure Timely Settlements Of Patient Payments
The insurance plans of some patients include co-pays or deductibles. A great way to boost your collections is by leveraging online payment from these patients during their check-in. This will not only speed up the intake process but also enhance the patient experience.
Thus, collecting payments during check-in will simplify the patient journey and ensure prompt payments to maintain a healthy revenue stream for your practice. This will also save a lot of your efforts and time, making your collection process seamless and more efficient.
CS Eye provides you with stress-free billing solutions to drive the best returns for your practice. We guide you to take all the necessary measures and carry out the best practices that ensure higher reimbursements for your practice. Get in touch with us to know how we can help you in improving your collections. Contact Now!