It is no secret that insurance billing is complicated and is the source of many headaches for mental health providers. For those who don’t have an effective billing workflow, the cons sometimes outweigh the pros. But if you happen to be a provider who has nailed down an excellent billing process with the right tools and help, then you know just how financially fruitful insurance billing can be. So what does it take to optimize revenue while billing insurance companies? Keep reading to learn how to get paid billing insurance at your private practice.
How to Get Paid Billing Insurance at Your Private Practice:
There are several tips and tricks for getting the most out of insurance billing, and following these steps can help providers maximize reimbursements and strengthen their bottom line.
Implement Quality Technology
Technology is the most important tool a mental/behavioral health provider can use when learning how to get paid billing insurance. Mental health billing software has the potential to increase clean claims, streamline your billing workflow, and maximize reimbursements. The catch is that you have to find the right software to implement. Not every mental health billing software is the same and which one you use has a huge impact on the results you see.
Providers can identify a quality mental health billing software by finding one with the following features:
Full-Service Claim Submission
Providers shouldn’t have to work too hard to file their claims, and software should support swift claim submission and help you stick to each payer’s billing schedule. The right software will allow you to file claims electronically to all of the nation’s top insurance companies.
Claim Denial/Rejection Follow Up
While quality software will help you minimize denials, they can still happen. You need to have quality follow-up procedures when they do so money does not slip through the cracks. When learning how to get paid billing insurance, mental health providers should find billing software with built-in claim denial and rejection follow-up.
Credit Card Integration
The mental health billing software you choose should also allow you to maximize client payments on remaining balances by integrating credit card processing directly into its system.
Making sure your clients understand their coverage is vital to optimizing revenue. Mental health billing software should come with electronic benefits verification to make sure you can get paid billing insurance at your private practice.
Mental health billing software should be equipped with dozens of tools designed to streamline and optimize your billing workflow, allowing you to bring more revenue in with fewer billing headaches.
Find a Good Vendor
When choosing software, you also need to pay attention to who is selling it. While some companies may have a good product, if the vendor does not care about your success, then you will not have a good experience. Mental health providers need to partner with an experienced and trustworthy vendor who has their best interest in mind.
Working with a quality vendor will always have someone looking out for you, making sure you are getting paid billing insurance at your private practice. So what characteristics make up a good mental health billing software vendor?
Dedicated Account Manager
If a vendor expects you to wait on the phone for hours during your important work time or spend time after hours tracking someone from their team down just to get a question answered, then they are not the right one for you. You need a vendor who provides a dedicated account manager willing to remain accessible to you when you need them most.
An excellent mental health billing software vendor will be built of a team of billing experts. These experts know how to pinpoint problems and solve them quickly so that you do not have to figure them out independently. Your billing vendor should always support you on your journey to focus on your clients.
Implementing a new billing software should not be a headache or some tough transition that distracts from client care. A good vendor will make implementation less of an issue, facilitating a smooth transition from old to new.
Finding the right mental health billing software along with a quality vendor is the key to getting paid billing insurance at your private practice. The combination of the two will set you up for financial success while allowing you to focus your attention on your clients, not the complications of insurance billing.
Did we mention TheraNest provides managed billing? Learn more.