Your Biller / Your Practice BFF

Your biller or Revenue Cycle Management (RCM) company should be trusted and valued in the same way as a BFF (Best Friend Forever) as RCM is the lifeblood of your practice. Here are some points to consider:

  • If your biller or RCM company is not performing well or worse, if you are unaware of performance level (based on rejection rate, timely filing of submitted claims compared to completed encounters, collection rate, denial follow-up and receivables management) you could be in trouble.
  • Transparency is key. Your biller or RCM should be more than willing to show you how hard they are working. At a minimum, monthly reports should be generated and reviewed. 
  • Payor specific issues regarding payment delays or diagnosis/treatment code requirement changes should be discussed and resolved as soon as possible (if you are unaware of even the smallest discrepancies as they arise, they will become major depleting factors in practice revenue). 
  • Stay in constant contact and develop systems of communication that work best for you (force you to address issues as they arise). 
    • Claims often become stuck in “user hold” increasing the risk of monies lost due to timely filing limits.
      • “User Hold” refers to claims have not been submitted due to missing or inappropriate modifiers and units, incorrect place of service, or even something as simple as date last seen by PCP not recorded. Most times these claims can be submitted with quick fixes (but only if you are aware of their status)
      • Discuss your workflow and preferred methods of communication with your biller or RCM company and be diligent when it comes to responding.

Click here to read the full article “Controlling Receivables in Today’s Podiatric Practice”

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