8 Easy Strategies for Enhancing Financial Returns in Your Urgent Care Business
Want to boost revenue for your urgent care business? It’s vital to maximize reimbursement per visit for long-term success. Learn 8 simple strategies in this article to enhance reimbursements and improve your urgent care business’s performance.
According to DocuTap’s research in the urgent care quarterly from 2013 to 2016, the average reimbursement per visit was $124. In 2014, it reached a high of $126, while in 2016, it hit a low of $123.
How can you improve reimbursement for patient visits? Check out these strategies to ensure proper reimbursement for your urgent care center.
Begin at the front desk
Start by following the correct process for collecting patient data during the registration process. This step is vital to ensuring accuracy and completeness in claims. Prioritize thorough checks before patients leave your clinic to guarantee clean and error-free claims.
Leverage Real-Time Health Insurance Eligibility Software: Implement a front desk real-time quality assurance process using advanced software. This tool validates insurance coverage, determines patient responsibilities, and provides essential data on the percentage charged to patients. Furthermore, you can choose to partner with third-party urgent care billing services for the eligibility verification process as they have the expertise to handle the prior authorization process.
Pay Attention On Pre-Authorization
Save time and money with pre-authorization in today’s healthcare. Many insurance plans have high deductibles, requiring patients to pay medical bills upfront. Credit card pre-authorization helps staff calculate costs, inform patients, and streamline the process for quicker payments.
Let patients pay online
Enable an online payment system for your patients, facilitating quicker payments and boosting motivation for timely settlements. Simplifying payment accessibility makes it easier for consumers to fulfill their financial obligations. By embracing digital payment options, you streamline the process, enhancing the overall patient experience.
Consider integrating user-friendly interfaces and secure payment gateways to create a seamless online payment experience for patients, fostering a more efficient revenue collection system.
Set Smart Fees
Avoid the pitfall of setting service fees at the highest rates mandated by payors. Opting for lower, strategic fees prevents challenges in keeping up with frequently changing figures. This approach ensures that your practice remains adaptable, capturing potential revenue without hindrance.
Regularly review and adjust fee structures based on market trends, allowing your practice to stay competitive and optimize financial outcomes.
Collect payer fee schedules
Request fee schedules for the most commonly used codes from payors, as complete lists are seldom provided. Given that these schedules are typically updated quarterly or yearly, maintaining an up-to-date collection aids your staff in accurate coding and, ultimately, maximizes clinic reimbursement.
Review Your Payer Fee Schedules
Create a systematic approach to regularly obtaining and reviewing payor fee schedules, ensuring that your coding practices align with current industry standards. This proactive approach safeguards against missed opportunities for revenue collection.
Incorporating these strategies not only enhances the efficiency of your financial processes but also positions your healthcare practice for sustained success in an ever-evolving industry landscape.
Enable Online Payments
Let patients pay online for quicker transactions and encourage timely settlements. Simplify payment accessibility to fulfill financial obligations easily, enhancing the overall patient experience.
Consider integrating user-friendly interfaces and secure payment gateways to create a seamless online payment experience, fostering a more efficient revenue collection system.
Set Smart Fees
Avoid setting service fees at the highest rates mandated by payors. Opt for lower, strategic fees to prevent challenges in keeping up with changing figures. Ensure adaptability for capturing potential revenue without hindrance.
Regularly review and adjust fee structures based on market trends, allowing your practice to stay competitive and optimize financial outcomes.
Collect Payor Fee Schedules For Urgent Care
Request fee schedules for commonly used codes from payors, as complete lists are seldom provided. Maintain an up-to-date collection for accurate coding, ultimately maximizing clinic reimbursement.
Create a systematic approach to regularly obtaining and reviewing payor fee schedules, ensuring that coding practices align with current industry standards. This proactive approach safeguards against missed opportunities for revenue collection.
Incorporating these strategies not only enhances the efficiency of your financial processes but also positions your healthcare practice for sustained success in an ever-evolving industry landscape.
FAQs
Which CPT code is for urgent care?
Get a quick overview of 2023 guidelines. Specifically for urgent care, some CPT codes start with ‘S.’ For all urgent care services (excluding Medicare), two codes stand out: S9083 and S9088.
What is office billing in medical billing?
Office billing, also known as professional billing, involves billing claims for services provided by doctors, suppliers, and non-institutional providers. It covers both in-patient and out-patient services. The medical billing office handles administrative tasks related to medical practice.
What is meant by the billing Procedure?
Billing includes types, processes, and how it works. It’s a set of steps a business follows to create and send invoices to customers for products or services. Steps involve gathering info, creating invoices, sending them, and tracking payments.
