Should Doctors Be Forced To Tell Insurance Companies More About Their Patients Health?
| 13:38:00 |
Licensed physicians and treatment providers are always looking for ways to make a profit. Most medical practices collect less than 70% of their claims to insurance companies. It is not uncommon for a doctor to bill an insurance company for $50.00 and get back $10.00. It takes a skill to get the insurance companies to agree that you deserve to get paid. Every treatment centers, rehab and hospital knows that the new ICD-10 codes are making it harder than ever to collect on a claim. Years ago, collecting on a claim was much easier. All that you had to do was submit some paperwork and the insurance company would send you a check.
The problem is not as bad as many people think it is. The reason for the slowdown of payments all has to do with understanding the ICD-10 requirements. It asks for more information such as how your patients are improving in their treatments with you. Insurance companies want to know why they should be paying you to begin with. Today, you need to have a good certified ICD-10 coder working for you. If you can't find one, then outsource your billing to a company that handles this. It is a wise choice if you are trying to earn more money for your practice. Doctors today are often only seeing 70% of their claims submitted to the insurance companies. Many insurance companies today are sending you a check for 50% less than you asked for. It is a tough time for doctors and anyone working in the healthcare industry.
Most people don't know that you need to learn 5 times as much information now than you did under ICD-9. You better believe that more study and experience is required. You need to document everything when you submit it to the insurance company. Insurance company's want to know why you are sending them a bill for a certain amount of money. Why should they pay you for the services that you performed? Was the service really necessary in the first place?
The new ICD-10 codes are already showing hard times for doctors. Doctors are seeing their payments being slow from insurance companies. They are often see far less reimbursement from the claims that they are submitting. This is a problem since doctors rely on insurance companies to pay their salary. Most patients cannot afford to write their doctor a check for $200.00 or more dollars every time that they visit them. If the insurance company is not paying for the treatment, then who is?
Through the years, insurance companies have written checks to doctors because the system was set up that way. You tell the insurance company the ailment using correct codes and they submit a check back to you within a couple of weeks. Now, you must document everything to the insurance company. Your coder must know what to put down. Are you documenting the success or your patients or just submitting a claim for reimbursement? It is clear that insurance company's today wants to know more about your patients and if you are healing them. Many insurance companies are asking the question of why? Why does your patient need 2 x-rays instead of one? Why do they need 2 follow up appointments instead of the standard 1? It The system is basically forcing doctors to be more honest and open with why they are treating a patient to begin within a certain way.
The problem is not as bad as many people think it is. The reason for the slowdown of payments all has to do with understanding the ICD-10 requirements. It asks for more information such as how your patients are improving in their treatments with you. Insurance companies want to know why they should be paying you to begin with. Today, you need to have a good certified ICD-10 coder working for you. If you can't find one, then outsource your billing to a company that handles this. It is a wise choice if you are trying to earn more money for your practice. Doctors today are often only seeing 70% of their claims submitted to the insurance companies. Many insurance companies today are sending you a check for 50% less than you asked for. It is a tough time for doctors and anyone working in the healthcare industry.
Most people don't know that you need to learn 5 times as much information now than you did under ICD-9. You better believe that more study and experience is required. You need to document everything when you submit it to the insurance company. Insurance company's want to know why you are sending them a bill for a certain amount of money. Why should they pay you for the services that you performed? Was the service really necessary in the first place?
The new ICD-10 codes are already showing hard times for doctors. Doctors are seeing their payments being slow from insurance companies. They are often see far less reimbursement from the claims that they are submitting. This is a problem since doctors rely on insurance companies to pay their salary. Most patients cannot afford to write their doctor a check for $200.00 or more dollars every time that they visit them. If the insurance company is not paying for the treatment, then who is?
Through the years, insurance companies have written checks to doctors because the system was set up that way. You tell the insurance company the ailment using correct codes and they submit a check back to you within a couple of weeks. Now, you must document everything to the insurance company. Your coder must know what to put down. Are you documenting the success or your patients or just submitting a claim for reimbursement? It is clear that insurance company's today wants to know more about your patients and if you are healing them. Many insurance companies are asking the question of why? Why does your patient need 2 x-rays instead of one? Why do they need 2 follow up appointments instead of the standard 1? It The system is basically forcing doctors to be more honest and open with why they are treating a patient to begin within a certain way.
About the Author:
We are a professional medical billing and coding organization in the United States. Our clients depend on us for facility billing services and other types of billing. We offer products such as verification of benefits and utilization management.
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