If you are not using Healthcare Billing Services you may be missing out on revenues due to underpaid, delayed or denied insurance claims. Keeping an insurance claims log book can help you keep track of your insurance claims in order to reclaim unpaid or denied claims. Here is a list of things you can do to have an accurate claims log book as part of an improved claims management procedure.
The Right Tools
In order to maintain accurate records you can prepare an electronic log book that will allow you to track the outstanding claims for your practice. The AMA has an online log book which you can download and use. You will also require several references and sources to ensure you are following proper regulations including:
- Current Procedural Terminology
- Healthcare Common Procedures Coding System
- Medicare RBRVS: Physicians Guide, Latest Edition
- Principles of CPT Coding, Latest Edition
- Principles of ICD-9-CM Coding
- Medicare’s Correct National Coding Guide
- AMA CPT Assistant
- AMA Code Manager
These references will allow you to best understand coverage as well as the payment policies of the varying insurers. This will be imperative when making reclaims as you will want to know you are within your rights. Healthcare billing services are well versed in all of these guides and use them to their advantage to increase their clients’ revenues.
If you find you are using the same codes consistently it would be of benefit to contact each insurer and keep an updated record of their fee schedules. This will allow you to know what to claim and than also to recheck once payment is received in order to track underpayments. Use this in your log book. If possible have an email, fax or letter sent from each insurer with the list as this will make an excellent tool when you are facing compliance challenges or when preparing appeal letters.
Healthcare billing services will track all insurance claims to ensure you are receiving the payments you are due. If you elect to go it on your own this information will prove very useful when facing compliance challenges or when wishing to prepare a letter of appeal. Staying on top of things with a log book will make sure you are not missing out on payments.
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