Improve Orthopedic Collection Process

1. Improve Orthopedic Collection Process Medical Billers and Coders

2. Orthopedic practice owners are struggling to maintain the financial stability of their practice. There are many reasons for this struggle as expenses aren’t declining while reimbursement from payers isn’t increasing. As per a recent orthopedic billing survey, more than 30% of orthopedic surgery claims are incorrectly submitted. Such a high portion of rejected and denial claims could severely affect your practice revenue. Also, more patients are choosing high deductible health plans which are leading to high patient responsibility and hence high unpaid AR is affecting practice bottom line. Recently, office services have increased in orthopedic practice setup. Office services derived revenue could contribute more than 50% up to 75% of orthopedic surgeon’s total revenue. This increased portion of office services suggests a change of approach towards collecting patient portion amounts. With higher patient co-pays a patient may have a $60 co-pay for a $100 office visit, even if insurance has paid its portion, a better collecting approach is required to collect the remaining 40% of revenue. In this blog, we shared a few practical ways to improve your orthopedic collection process.

3. Orthopedic Collection Process • Share Procedure Estimate • Collect at the Time of Service • Measure Efficiency of Collection Process

4. Even though one can have an efficient in-house team and train the staff, the orthopedic billing process is too complex to handle by the in-house team. So, outsourcing your orthopedic billing and coding requirements to an experienced medical billing company can help you reduce your stress on your team and can improve your orthopedic collection process.

5. Address Wilmington 108 West, 13th street, Wilmington, DE 19801 Texas 539 W. Commerce St #1482 Dallas, TX 75208 ======================================== Email : info@medicalbillersandcoders.com Fax no: 888-316-4566 Toll Free no: 888-357-3226