Family Practices Handle New Updates and Coding Changes in 2013 with Efficient Medical Billing

Efficient medical billing practices can strengthen the financial backbone of a family practice and allow family practitioners to focus on the service aspect of their practice. However, in a constantly evolving healthcare industry the need to Update Medical Billing at regular intervals becomes absolutely indispensable. It goes without saying that the year 2013 will see numerous changes in medical coding and reimbursement patterns and family practices will have to stay extra vigilant to accommodate every new update into their medical billing system. All new updates are likely to happen in terms of

  • E/M coding changes along with changes in frequently used family practice codes; place of service coding errors
  • Billing characteristics and questionable billing, Part B payments for specific Laboratory tests
  • Fee schedule changes with new reforms surfacing in Medicare and Medicaid reimbursement patterns; shift from fee-for-service to pay-for-performance model of payment
  • Error rate for incident to services performed by non-physicians; claim processing errors in Medicare payments for Part B claims with G Modifiers
  • Non compliance with assignment rules, penalties associated with excessive billing of beneficiaries to physicians and suppliers
  • Medical auditing, evaluation of potentially inappropriate payments in 2010

While coding and billing practices can be updated without much hassle, thanks to EHR and digitized recording of medical data; staying abreast with the changes in compliance can prove to be a little difficult. Preparing your staff and installing a comprehensive compliance plan is critical for your family practice. Strict adherence to OIG regulations specific to Family Practice groups is especially important to strengthen your Medical Billing Practice. Efficient Revenue Cycle Management (RCM) will require your medical practice to monitor and update the following aspects of billing –

  • Updating the ongoing changes in family practice codes in the billing system and keeping the staff aware of the importance of proper coding for proper reimbursement and claims
  • File claims as per the process changes in Medicare, Medicaid and other private insurers; ascertaining per-authorization and avoiding claim processing errors
  • Aligning the Fee schedules of the practice as per the reimbursement norms of the industry and adhering to value based model of payment
  • With Medicare reimbursement rates declining and Medicaid rates improving, cautiously align your payers mix to ensure collections
  • Lastly, as per compliance and regulations track your reimbursement ratio and appeal for denials with corrected documents and codes. Timely correction of wrongly filed claims can improve your revenue stream and dramatically improve the efficiency of your medical billing process

With so many changes forcing practitioners to update their billing system every few days and even more changes around the corner, it is prudent to design efficient medical billing practices that can adopt new changes instantaneously and continue to function smoothly. Medicalbillersandcoders.com is an RCM expert that can help your practice to achieve the perfect balance between quality service and efficient billing. Our team of medical billing specialists is constantly updated and is well equipped to handle all your coding, billing, collection and compliance needs. We can make your revenue cycle an error free process, allowing you to dedicate all your time to patient care and quality service.

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