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Medical billing companies can incur losses due to poor coding and billing practices. To overcome these losses, it is crucial to eliminate these negative habits. By doing so, your medical billing company can reap the profits it deserves.
To maximize profits and eliminate losses, it is crucial to be aware of the detrimental habits in medical coding and billing practices. Here are the five habits that must be avoided to ensure the success and profitability of your medical billing company.
As the CEO of a medical billing company, it’s important to understand that your service time can be broken down into three distinct phases: pre-time, entrap-time, and post-time. The pre-time phase involves preparing for and assessing the patient, the intrepid-time phase involves performing the procedure, and the post-time phase involves discharge and documentation.
Incorrect evaluation of the time spent with patients during therapy can result in loss. This “intra-time” encompasses individual patient assessments and management, including checking in with patients on their progress since their last visit, and attending to patients in-person while also addressing phone calls. To maximize this time, consider taking notes during appointments.
In current times, it is no longer necessary to document in and out times for every patient. However, some lower-paying payers may still request this information. It is recommended to avoid documenting in and out times unless it is absolutely necessary, as this may attract the attention of auditors and disrupt your schedule.
Some therapists differentiate between therapeutic exercise and therapeutic activity. When a patient requests therapeutic exercise and has paid for it, it is important to clearly communicate that therapeutic activity requires additional charges, as it takes up more time during therapy sessions. Failing to clarify this difference can result in therapists spending significant amounts of time without receiving proper payment for their services. There are also therapeutic activities that are highly chargeable and can raise red flags for patients.
Counting Time For Each Intervention
Proper documentation of the time spent during a therapy session is essential for several reasons. It is challenging for automated systems to differentiate between Therapeutic Exercise (TherEx) and Therapeutic Activity (THEAct). Accurately tracking the total assessment and management time provided to each patient is crucial in determining profits and losses. Keeping a record of the time spent with each patient will give you an advantage when auditors come to review the documentation.
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