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BEHAVIORAL HEALTH BILLING
When it comes to general medical billing, it is usually a breeze to bill the services to health insurance since there aren’t many CCI related complications. However, things get a bit trickier when it comes to behavioral health services, including psychiatric billing. Factors like session length, service location, and patient age make the billing process more complex. If you don't have the right resources and administrative support, you might encounter errors and delays in the billing process.
To make matters more complicated, many health insurance plans require pre-authorization, which can drag out the billing process. But fear not! Behavioral health billing consultants are here to help you navigate through these complexities and ensure that you get reimbursed accurately and on time.
Now, let's talk about some best practices for behavioral health billing
1
Pre-authorize to save time: Always double-check if pre-authorization is needed before starting any treatment, especially since therapy sessions don't follow a standard format.
2
File claims on time: It's a good idea to establish a billing schedule for your practice, like picking a specific time frame each day, so that you can submit all your claims to the insurance carrier within the designated time frame.
3
Identify inaccuracies: Look at your denied insurance claims to identify any patterns or issues in your billing process that need improvement. Make sure to fix these issues and resubmit within the timeframe given by the insurance carrier.
4
Update patient information regularly: If any patient details, like their address or marital status, change, make sure to update that information in your system. It's recommended to do an annual update to ensure accurate claim submissions.
Running a successful behavioral health business requires careful attention to revenue collection. Having visibility into every aspect of your revenue cycle and having an action plan in place is crucial to address problems before they become costly. If you're short on experienced staff, outsourcing to capable and experienced personnel is key to running a successful behavioral health business.
By outsourcing your behavioral health billing to a trusted company, you can enjoy the following benefits:
- Reduce unpaid claims
- Lower operational expenses
- Speed up reimbursements
- Minimize administrative duties
- Decrease billing errors
- Focus on your primary responsibility: patient care
- Improve patient satisfaction
- Ensure billing compliance
Understanding Behavioral Health Billing
Here's what Finnastra can offer
1. Increased Efficiency
We focus on improving efficiency at every step of patient care.
2. Coding Accuracy
We review 100% of the charts to ensure the right codes are reported based on the latest regulations.
3. Patient Experience
We strive to create a seamless experience for patients, from scheduling to checkout.
4. Credentialing
We help you become an in-network provider by negotiating with top insurances for the best rates and contracts.
5. Improved Collections
We maximize your reimbursements by implementing efficient systems at every step.
So, how can Finnastra help you? Well, Finnastra is your one-stop solution for all your medical billing, practice management, patient management, and revenue cycle management needs. Finnastra has been in the healthcare technology and revenue cycle management services industry for over 24 years. They provide medical billing solutions to more than 180 practices of all sizes across 31 states, serving over 28 critical specialties.
If you're looking for a trusted billing partner for your behavioral health facility, Finnastra, with its extensive background in healthcare, is your best bet. They can streamline your billing processes so that you can focus on what matters most: patient care.
