Medical billing is a big aspect of any medical facility. It’s pivotal that medical services are properly billed so that practices can get reimbursed the revenue that they need, and patients pay the proper amount of money. With regards to medical billing, however, there are certain myths that have popped up about it. Some of these myths can even harm your practice’s revenue cycle. Today, we’re here to address medical billing myths that might be taking a negative affect on your practice’s revenue.
“Health Insurance Will Cover Everything”
There are many kinds of insurance programs, and coverage is not guaranteed. Sometimes, insurance will only cover some expenses, and it might even cover no expenses, depending on the services that have been provided. That’s why it’s crucial for you to look at the fine print of different insurance policies.
Medical practices should introduce efficient eligibility checks, as well as guarantee prior authorization whenever it’s needed. Estimates on medical expenses need to be requested in advance by patients. This way, any misunderstandings regarding medical prices can be addressed as early as possible.
“Medical Billing is Standardized Among All Providers”
One of the other medical billing myths you might hear is that medical billing is universal for all providers. The truth is that billing doesn’t have any one general system. With that said, medical codes have an extensive number of applications, depending on the provider, region, type of medical facility, as well as specialty.
That’s why you need to get clarity on what charges will be filed for various providers. If possible, patients should be given the opportunity to compare estimates for different medical providers so they can make more knowledgeable decisions regarding their medical bills.
“Medical Bills are Accurate All of the Time”
Another of the medical billing myths that gets spread is how medical bills are always accurate. In reality, medical billing errors happen more frequently than you may think. Errors can arise from causes such as duplicate medical charges, or unbundling codes that are actually better off being bundled.
This is why it’s good to use medical billing software that automates the medical billing process. This reduces the chances of human error. Not only that, but it also helps medical practices run more efficiently, as medical staff members will have more time to tend to other matters if they don’t have to focus as much on billing tasks.
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