RevWerx
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RevWerx believes in empowering the provider to make informed choices and take control of their own billing. We assist providers with assessing whether taking billing in-house or utilizing a third party is the right approach. We do this by assessing the size of practice, organizational structure, levels of care, staff bandwidth, and other key factors. We recommend a blended approach for many providers, which means maintaining crucial components to the utilization review process in-house to ensure accurate and effective documentation. Then, we can leverage third-party providers for time-consuming and tedious parts of the billing process.
We have seen many providers attempt to move billing in-house, only to see billable revenue freeze, which causes financial consequences to the company. Others miss revenue they are failing to collect due to overreliance upon third parties. Our approach is to create a truly customized yet precise solution for the specific settings, levels of care, types of care, and needs of the provider.
In-House Billing Implementation Defined
In-house billing implementation is a critical component for any healthcare provider. If the billing process isn’t progressing properly, your team wastes valuable time tracking down payments instead of providing essential healthcare services. Our RevWerx team will work with you to determine if in-house billing is the best solution for your needs. If in-house billing is, in fact, the best option for your organization, then our team will teach your team about the entire billing cycle, from claims to collection.
Common In-House Billing Implementation Mistakes
Our RevWerx team has worked with many substance abuse treatment facilities and mental health treatment centers. During these experiences, we see some in-house billing implementation errors reoccur repeatedly. These mistakes include:
- Sloppy documentation – When physicians or other healthcare providers turn in sloppy paperwork, it’s difficult for medical billing specialists to assign the correct codes and bill patients correctly. Misreading handwriting errors may also contribute to undercoding, which is another lost revenue stream.
- Hurried intake or missed information – Entering incorrect information for providers, patients, and insurance providers is a frequent mistake. Especially in emergencies, this information can take a backseat in a panicked moment and cause an issue down the road.
- Unbundling – Unbundling means using separate codes for linked procedures when there’s a single code for the whole group of procedures. This illegal act increases the total claim amount and falsely inflates your profit.
- Upcoding – Upcoding happens when your team uses a billing code for a more complicated or expensive service than what was actually done. This also includes tests done by techs being coded as performed by physicians. Since more serious codes demand higher payments, this illegally inflates your revenue too.
- Undercoding – Undercoding happens when patients are not billed for all the treatment or services rendered. This suspicious practice may help a patient avoid a high-cost bill or help your emergency department avoid audits.
- Duplicate billing – This occurs when your staff bills the same patient for the same service multiple times though it was only performed once. Duplicate billing can negatively affect every step of the billing process, so it is imperative to end this practice before it occurs.
Our RevWerx team will help you recognize these common errors and then work with you to create an action plan to eradicate these mistakes from your operation.
Solidify Your In-House Billing Process with Our Help
RevWerx can be an ally with in-house billing implementation. Our team of experts has years of experience with medical billing for addiction treatment centers and mental health treatment facilities. Let us help you build an in-house billing process that is the right fit for your organization. Contact our team today by calling (800) 851-7093 or completing our secure online form.