In the revenue cycle management system, charge entry is a vital step in the whole process. This process gives us a clear indication of the amount of reimbursement the health service provider will receive from the insurance payer.
As said earlier, this process is vital in the revenue cycle management system because n the medical billing management system the chances of error are also very high and it can lead to increasing denial rates.
This article will help you to effectively manage your charge entry. We assure you of a well-structured and effective process that will eventually increase your revenues. Let’s find out!
What is Charge Entry in Medical Billing?
A charge entry process is a complete and well-structured process in which the charges for the medical services rendered to the patient and other treatments details are submitted to the insurance payer to claim a reimbursement.
Step By Step Process of Charge Entry In Medical Billing
The charge entry is a complex process and it took time for an effective charge entry process. Following is the step-by-step process for charge entry in medical billing.
Receipt of Documents
The first step in charge entry is to get a patient registration and some details about the financial responsibility for the particular treatment. We will also collect all the essential forms and documents termed as an explanation of benefits (EOBs).
Other financial statements like checks, card payments, and relevant payment options are also added from the client in a secure way through the FTP server.
Entry of Necessary Details
The second step consists of patient referencing and billing Referencing. We will collect details like demographic information which includes the name, age, address, and a brief medical history of the patient. On the other side, the billing referencing includes the time and date in which the services are rendered to the patient.
Complete details about the insurance service provider and the amount paid for that particular service. These are essential steps for the proper coding practice which will eventually be used in the submission of the claim.
Follow up on Explanation of Benefits (EOB)
The third step is pretty much important for the service provider. It will help the service provider to get all the proper share for the services rendered to the patient.
In case of a partial payment like some dues are pending on the patient. These pending dues are surely not part of insurance coverage and the patient is liable to pay for it.
To get all the remaining payments the provider can initiate an investigation through EOB to acquire all the essential details of the patient coverage to take some necessary legal actions.
Proper Denial Analysis and Recovery
In many cases, health service provider faces denial rates after submitting the claim. In addition to the case when patients refuse to pay the remaining amount considering it a responsibility of their insurance payer.
A very similar conflict occurs with the insurance companies. When they refuse to pay for the services by indicating that these are not part of their coverage.
A billing team in that phase needs a detailed and in-depth analysis of all the processes. Reviewing the coding and other documentation can help to get the remaining payments.
It is considered an optional step. While customer feedback is also essential if you want to establish long-lasting contact with your customers. It also helps you to improve the overall charge entry process.
Like if you are getting negative reviews regarding the data collection process then you have to figure out the gaps in the process and immediately resolve them.
Many service providers consider it an important part of their operations.
In medical Billing, the charge entries are complicated procedures and the chances of errors are also very high especially when you are dealing with coding.
While many health service providers facing the problem of low reimbursement due to mismanagement and lack of resources to have an expert in-house billing team to control the RCM, In this case, It’s reasonable to hire a billing expert for your health care system.
Med-Miles is the leading medical billing solution company with an experience more than 8 years. We are serving the health service provider in effectively managing their revenue cycle management at reasonable pricing.
Here are some of the features of our billing services.
- We are strictly compliant with HIPPA. We are well aware of the standard rules and regulations set by the American medical association.
- A non-disclosure agreement will assure you of the safety of the confidential data of the patient. We maintain a strict security framework for our clients which will save your essential data from a third party.
- As an outsource medical billing service provider we adopt the latest innovation and billing software solution to keep ourselves updated and minimize the time taken for the charge entry.
- We ensure a proper analysis of denials and a swift recovery Process.
- An expert team of coding will assure that there would be no coding error in the claim.
- A dedicated follow-up team will help you to get timely payment for your services without any conflicts.
Our services will help you to get maximum reimbursement with lower denial rates in affordable pricing. Call us at (888) 598-9181 for details.