Hold on to every little penny: tips from the experts

Why This Topic Matters

Small process errors can add up to significant lost revenue over time, so practices benefit from tightening routine billing and administrative procedures.

Article Sections

1. Introduction

   The article introduces common sources of small revenue losses in medical practices and frames the discussion as advice from industry experts.

2. Have the right resources

   This section discusses the importance of staff access to current reference materials, payer information, and continuing education support.

3. Be sure to collect your copays

   This section focuses on front-desk workflow and the role of collecting patient responsibility amounts consistently.

4. Capture the right number of units

   This section addresses charge capture accuracy for supplies and medications, with emphasis on documentation and counting practices.

5. Investigate all denials and low payments

   This section covers denial review, low-payment follow-up, and trend analysis to identify recurring reimbursement issues.

6. Keep managed care contracts current

   This section reviews contract maintenance, fee review, and monitoring payer reimbursement against agreed terms.

7. Update charge tickets

   This section discusses keeping charge tickets current as coding changes occur and ensuring services and diagnoses are reflected accurately.

8. Submit claims daily and resolve claim edits daily

   This section emphasizes timely claims submission, correction of claim edits, and coordination of responsibilities across departments.