If you have been watching the news lately, you will find that a lot of rehabs are going out of business. This seems to be a trend that started late 2015. However, it is expected that more closings will occur in 2016. The main reason for this is that rehabs cannot figure out how to turn good profits for their treatment center. It is estimated that treatment centers will lose around 35% of their profits if their billing is not done correctly. Many treatment center owners are already seeing this happening.
It is estimated that 1 out of every 3 treatment centers will see their center being audited by an insurance company this year. It is mainly due to the fact that new regulations are put into effect. ICD-10 coding is a system in which took over ICD-9. The codes are longer and often more complex than what you are seeing right now. Try to remember that it is not easy to have a treatment center today. Most owners say that they are not seeing a good return on their investment. It is now becoming less of a money maker.
Coders are qualified if they have their ICD-10 certification and years of experience working as a medical biller. If you are having trouble finding these qualified workers, then you are not alone. Most treatment centers are outsourcing their work to professional medical billing companies because they cannot find a qualified person to run their billing. It is hard to turn a profit with someone that has only at home medical billing experience. Today, billers have to be successful and have a good working knowledge of the software that is used.
You need to update your software if you are going to do in house billing. I say this because the new codes in ICD-10 are often longer than they were in ICD-9. If you are like me, you don't want to waste money. It is important to buy software that is HIPAA compliant and obey all the rules of the law. Once you figure out your billing, you will find that it's more profitable to run a treatment center today. The problem with most business owners is that they are uninformed about billing. They think that anyone can do billing. The truth of the matter is that this is not true.
There are literally thousands of medical billers in the world today. Most want to believe that they are qualified enough to do the job. However, most are seeing their claims coming back from the insurance companies time and time again. It is rare to see a medical biller doing well these days. Most are struggling to submit claims correctly. A lot of billers today are frustrated because they keep on seeing their profits dwindling down. What can a person do to get better results? For starters, work with only ICD-10 certified coders. Try to get an employee that knows a lot about anatomy and physiology.
It is estimated that 1 out of every 3 treatment centers will see their center being audited by an insurance company this year. It is mainly due to the fact that new regulations are put into effect. ICD-10 coding is a system in which took over ICD-9. The codes are longer and often more complex than what you are seeing right now. Try to remember that it is not easy to have a treatment center today. Most owners say that they are not seeing a good return on their investment. It is now becoming less of a money maker.
Coders are qualified if they have their ICD-10 certification and years of experience working as a medical biller. If you are having trouble finding these qualified workers, then you are not alone. Most treatment centers are outsourcing their work to professional medical billing companies because they cannot find a qualified person to run their billing. It is hard to turn a profit with someone that has only at home medical billing experience. Today, billers have to be successful and have a good working knowledge of the software that is used.
You need to update your software if you are going to do in house billing. I say this because the new codes in ICD-10 are often longer than they were in ICD-9. If you are like me, you don't want to waste money. It is important to buy software that is HIPAA compliant and obey all the rules of the law. Once you figure out your billing, you will find that it's more profitable to run a treatment center today. The problem with most business owners is that they are uninformed about billing. They think that anyone can do billing. The truth of the matter is that this is not true.
There are literally thousands of medical billers in the world today. Most want to believe that they are qualified enough to do the job. However, most are seeing their claims coming back from the insurance companies time and time again. It is rare to see a medical biller doing well these days. Most are struggling to submit claims correctly. A lot of billers today are frustrated because they keep on seeing their profits dwindling down. What can a person do to get better results? For starters, work with only ICD-10 certified coders. Try to get an employee that knows a lot about anatomy and physiology.
About the Author:
A medical billing and coding company should provide you with utilization management and verification of benefits. You should get a reputable billing and coding company that works with doctors and rehab centers of all sizes. We have been doing successful coding for years for now.
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