As a mental health provider, you know that billing can be one of the more tedious parts of running your practice. Whether you’re a solo practitioner or managing a team, submitting and following up on claims can be a time-consuming process that can even result in lost revenue for your practice.
That’s why it’s essential to make sure you’re utilizing best practices for ensuring that your claims are paid on time and in full. In this post, we’ll cover some of the basics of billing insurance.
Optimize Your Client Intake Information
Your client intake process is the first step in collecting essential information. However, simple details such as name, address, and phone number won’t cut it.
Your client intake form should be detailed enough and frequently updated to ensure the accuracy of information.
Incorrect patient data can lead to a rejected claim, so be sure to double-check the details.
Establish a Billing Agreement
Included in your client intake process should be a Billing Agreement form that clearly outlines their responsibilities. This agreement should outline essential policies like how you charge, what is covered by insurance, and the payment process if insurance does pay only a portion of the fee. Make clear to patients that any unpaid balances will be charged to the credit card on file unless other arrangements have been made.
Verify the Client’s Eligibility
Checking eligibility is crucial for ensuring that you’re getting paid the correct amount for your services.
Be sure to check benefits for new patients before their first visit and keep checking eligibility for all patients at intervals throughout the year.
Insurance status can be subject to change, so frequently checking this information can help you avoid any surprises and enable you to make appropriate billing decisions.
Always Collect Co-Pay Upfront
Collecting copays upfront is a key practice that can help assure your payments. Make sure to alert patients that copays are required before their appointment by communicating this information when they make their appointment.
For patients who are self-pay or uninsured, inform them of the full-service charge before their appointment. This can avoid any misunderstandings or disputes about payment after the service is provided.
Complete Claims Promptly to Avoid Missing Deadlines
It may seem like a no-brainer, but this is a critical step that often gets missed. Different insurance carriers enforce different deadline requirements, and it’s essential to submit your claims in a timely fashion. Being on top of deadlines is necessary for avoiding delays and, in turn, receiving payment promptly. Ensure that claims are filed within the allotted time for each carrier, keeping in mind that some carrier requirements may be more strict than others.
Find A Partner To Get Your Billing Back on Track
Are you a mental health provider looking to streamline your billing process? It can be nerve-wracking trying to navigate the complex world of insurance and payments when all you want to do is focus on helping your patients. No need to stress, though – with the help of trusted and experienced mental health billing experts, you can rest assured that your financials are in good hands. Instead of worrying about missing payments or erroneous claims, partner with a team that knows the ins and outs of the billing process. With Anchor Point Billing Solutions on your team, you can gain financial confidence and focus on what matters – providing quality care to those who need it.