How Covid 19 Pandemic Upset Medical Billing

The worldwide pandemic Covid-19 has brought disruption to the nation’s health care system. With the additional pressures put on all of us to respond to the growing pandemic causing COVID-19 infections, there is certainly more at risk than the safety and well-being of people in general. With the spread of the virus, the nation is continuously facing considerable unemployment. The financial uncertainty and problems regarding the medical supply chain make it more difficult. The stakeholders in your medical practice are now under the grip of new pandemic realities like new medical billing, updated payment tracking in the light of this virus.

It is more explicit now when it comes to tracking and making billing for the service of the patient for the betterment of your prospective revenue flow. This is all the more important now as healthcare service providers are facing huge stress to make a diagnosis, treat, and provide follow-up care. You will want to keep track of updates by the government to the codes used in billing.

• The want of Resources Strains Healthcare Practices

With a lack of resources during the coronavirus pandemic, healthcare practices are finding themselves strained even further as they try to bring in enough income to pay for these resources.

It might be surprising, as the providers expected added patients who would be rushing their department. However, fear of contracting COVID-19 when coming to the emergency department for something unrelated has been discouraging patients from seeking treatment.

• How to minimize the possibilities of denials

With the help of so many financial uncertainties during the pandemic, the health providers need to take extra steps to bring down the number of claim denials. It is estimated that about 5-10% of claims are denied every year. These claims can finally be closed costing $25 each to make it right, so providers have an obvious motivation to minimize the challenging medical billing claims.

Adopting 3 strategies help eliminate easily avoidable denied claims

• First, analyze the denial and audit data to help you determine precisely where the errors are occurring.
• Second, examine them following the type, payer, and motive including the errors that occur for every category.
• Third, you have a target for development, for example, one department having a higher rate than another now requires some further training.

It is not all, it is important to allocate the task to one of the right specialists. Few types of technical claims are there that might need specialists. You might find it more beneficial to assign medical billing claims by care setting or by a particular customer since the staff member will become a skilled professional on the special conditions.