The most talked-about industry is—healthcare—and its total expenditure were estimated to be $3.24 trillion in 2015, and are projected to soar to $3.78 trillion in 2018. To address this hyper-competitive environment, healthcare outsourcing companies are introducing outstanding strategies to render streamlined services for their esteemed clients.
To cater to Orthotics & Prosthetics billing supreme expert’s supervision is needed to reduce errors. The human support mechanisms—Orthotics & Prosthetics— needs an extra care while billing for its products.
When, you start to face revenue loss, it is time to improve Orthotics & Prosthetics billing operations. Errors in billing are a strict no-no. Orthotics & Prosthetics coverage may be subject to a copay or coinsurance and authorization is required for various devices and this varies from payer to payer. This is considered a part of the member’s benefits provisions.
For error free billing, one should adhere to these guidelines:
~ A prescription from the ordering physician dated prior to delivery date
~ Appropriate modifiers must be billed
~Consideration of limitations based on time period within which the item can be covered if supplied earlier. E.g. A pair of Orthotics shoes are covered per calendar year by Medicare
~ Letter of medical necessity and additional documentation may be required for some devices, e.g. PPR form for prosthetic devices, Diabetic Verification, and Form for diabetic patients etc.
~Coverage for such equipment is subject to medical review by the payer
The must-haves components of Orthotics and Prosthetics billing are:
~ Patient demographics & insurance entry
~ Provider information entry
~ Product code, Rx & Dx entry
~ Eligibility verification and authorization requirement enquiry
~ Rejection & Denial Management
~ A/R follow-up
~ Creation of claim after receipt of confirmation of delivery
~ Submission of EDI/paper claim to Payers
Communication is the key to all billing procedures and Orthotics & Prosthetics is no exception. To avoid errors, billers need to be very confident and ensure the necessity of a procedure and accuracy of the reports they receive, prior to billing. Operational efficiency says it all, to understand the value of billing in Orthotics & Prosthetics outsourcing.
Want more? Get every update right in your inbox...