Medical Billing Service Website

To help healthcare providers improve their medical billing collections, Thriveworks recently launched a website dedicated specifically to provider medical billing. The website, which provides information on Thriveworks’ professional billing service, also provides over 20 articles, and a growing library of billing videos, providing tips for DIY medical billing. Visit the site here: Medical Billing.

Counselor Medical Billing: 3 Important Questions to Consider

For your counseling practice, your medical billing team can be a huge strength and asset, or a nightmare. Too often it is poor billing processes that destroy therapy practices. Consider these 3 questions.

Question Number One: Are you receiving payment for your claims?

Obviously, the point of medical billing is to get paid for your work. But what is reasonable to expect?

A: You are doing well if you receive between 96 to 99 percent of claims, or better said, percentage of money from claims. I make this distinction because if you’re billing for different services, and you’re getting paid on your small claims, but not your high-fee claims, you could potentially have a high percentage of claims paid, but a lower percentage of total money in the door.

A quick note: having 100% of claims paid is always what you’re aiming for–that would be ideal. But in the imperfect system you’re working with (healthcare), be satisfied if you’re receiving 98%.

Consider it a Red Flag is you’re receiving under 95%

If you’re at 94%, don’t panic, but its time to look closely at your reports, and determine where you’re losing 6%, so that you can make changes.

Read On: Counselor Medical Billing Questions

Mental Health Billing: Medical Billing Tips for Therapists

A new video we put together reviews three important questions to ask your mental health billing team (or medical billing company), to determine if you practice is up to standard!

Counseling Medical Billing: 17 Reasons why Your Claims are Denied

This Counselor is very frustrated, because his insurance claims keep getting denied 😉

Medical billing is a frustrating process for counselors who are often juggling too many business tasks, as well as trying to provide excellent clinical care. In fact, many counseling practices collect less than 85% of the monies that they’re rightly owed from insurance companies. However, with good planning, and a smart billing staff (in house or otherwise), your practice can reasonably expect to collect between 96-99% of claims.

Look out for these pitfalls! There are many reasons that claims can go unpaid, including:

1) You Waited too Long to File the Claim

The vast majority of insurance companies allow 90 days from the time of service to file a claim. However, some insurance companies allow only 30 days to file (and a very few, such as Medicare, allow a year—wow). When claims are filed too long after the date of service, they are rejected.

Read the rest of this article here: Counselor Medical Billing Article