Improve Your Billing Processes

Improve Your Billing ProcessesIf you are a member of the MEDICAL BILLING COMMUNITY, the norms of the day-to-day have changed. With the recent COVID-19 pandemic and the ‘stay-at-home’ order, you may find yourself with either more time on your hands and/or an increase of claims with new patients.  During this time, we want to offer you a couple of suggestions so that you can make the best use of the additional time you have, and also help you improve your billing processes.

The first thing to consider is to review your Accounts Receivable (AR)—to collect payments due you to INCREASE YOUR INCOME.  According to the American Medical Association (AMA), claim denial rates range between 0.5% and up to 3% or more, and that 90% of claim denials are preventable. Some of the most common claim denial reasons can be rectified by correcting claim management workflows, including claim submission and patient registration procedures. The following are a few of the most common oversights for claim denial.

  1. Use EZClaim software to check automatically for missing information, including absent or incorrect patient demographic information and technical errors
  2. Make sure you do not have duplicate claim submissions
  3. Check that claims do not have services previously adjudicated
  4. Review for claims with services not covered by the payer
  5. Make sure the time limit for claim submission has not expired

Secondly, revisit and resubmit open claims.  Surprisingly, 31% of providers still use a manual process to resubmit. Our partner, TriZetto Provider Solutions (TPS), has an Advanced Reimbursement Manager Pro (ARM) that has two great tools that can improve your ability to tackle collecting and repaying underpaid and overpaid accounts. Below are some key features that can be automated by their software, and will help to improve your billing processes:

  • Identify common errors and payer trends
  • Analyze contract performance
  • Customize and assign work into queues
  • Quickly access information from interactive dashboards
  • Automate the appeal process

Thirdly, know that EZClaim and our partner TPS have worked together to bring you the most powerful medical billing software tools to solve claim denials. Our partnership not only simplifies the billing process but also helps resolve denied claims in an efficient way. In addition to that, our customer support team is available to help you learn best practices with these tools, and support you however you need it.

Finally, if you are frustrated with your current medical billing solution, investigate how EZclaim’s medical billing solution may work for you.  You can either schedule a one-on-one consultation with our sales team or download a FREE TRIAL to check it out the software yourself. For additional information right now, contact EZclaim’s sales team at 877.650.0904 or send an e-mail to sales@ezclaim.com.

Ransomware Targeting Medical Billing Companies


Ransomware Targeting Medical Billing Companies
Ransomware Targeting Medical Billing Companies

As the number of healthcare providers taking advantage of Telehealth increases during this uncertain time, the number of ransomware attacks continues to increase as well.

Ransomware is a type of malicious software designed to block access to a computer system until a sum of money is paid. Microsoft says, “Multiple ransomware groups that have been accumulating access and maintaining persistence on target networks for several months activated dozens of ransomware deployments in the first two weeks of April 2020.”

The attacks are targeted towards aid organizations, medical billing companies, manufacturing, transport, government institutions, and educational software providers, however, Microsoft says that it doesn’t stop with critical service groups and suggests all networks are aware of these attacks and taking necessary steps to limit risk. NetWalker ransomware, for example, gained notoriety for targeting hospitals and healthcare providers with e-mails claiming to provide information about COVID-19.

Have you had an Accurate and Thorough Security Risk Assessment and/or penetration testing?

If you haven’t completed an accurate and thorough security risk assessment, you could also be penalized under ‘willful neglect’ (this category alone is $50,000 per violation!) in addition to the higher risk of ransomware attacks. What we do is keep this from ever being a worry for you! We perform your security risk assessment and manage all of your requirements, in a clean, organized cloud-based portal.

Don’t risk your company’s future, especially when we are offering a FREE Organization Assessment to help determine your company’s status.

It’s easy! Call us at (980) 999-1585, or email me, Jim Johnson at jim@LiveCompliance.com or visit
www.LiveCompliance.com

Live Compliance has partnered with EZClaim medical billing software to strengthen what they can provide for you. It provides all of your HIPAA Privacy, Security Requirements, and Measures. HIPAA compliance is a requirement for Covered Entities and Business Associates to safeguard personal, private, and protected health information—allowing organizations to relinquish the struggle of compliance requirements.

You can investigate the EZClaim medical billing software by either downloading a FREE DEMO, or just contact our knowledgeable sales staff to answer any and all of your questions by phone at (877) 650-0904 or by e-mail at support@ezclaim.com.

[Contributed by Jim Johnson of Live Compliance]