How Telemedicine Billing Is Changing
Thanks in part to COVID-19, telehealth is expanding into new realms. More health organizations are offering telemedicine as a way to provide care to patients. Yet, telemedicine billing isn’t always straightforward, and new changes to the industry and billing itself can leave some providers unsure of what to do to protect their costs.
Because of this rapidly changing situation, many organizations and insurance companies are changing their billing rules. Currently, the major private payers are covering telemedicine, with organizations such as Medicare and Medicaid still forming their guidelines. Here’s what you need to know.
What You Should Know About Protecting Revenue
Insurance companies have added new modifiers and put in place service changes, such as telehealth amendments to previous contracts. Each insurance company is handling these changes differently. Yet, it’s up to you, the provider, to bill for them properly.
One of the key things to know is that these ongoing changes can interfere with your ability to receive compensation for the services you are providing to your clients. Proper monitoring of those services is critical. If you fail to pay attention to those ongoing changes, it can result in lost revenue. Having up-to-date information and skilled professionals who can handle the billing and coding within your practice is necessary to avoid these concerns.
Why Is This?
The increase in virtual services is easier and more convenient than ever. However, not all billing professionals have a keen eye to watch for changes in the coding process. If codes are not correct, that is going to cost your office time and money. Payers will likely reject the claim, creating confusion for patients but also lost revenue for your organization.
If your organization is adding telehealth medicine, it is critical to have a process and system to monitor for such changes and apply them as quickly as possible. Having software that can streamline the entire process of providing care for your patients — from scheduling to online payments — may help minimize these risks.
Have a Team of Professionals Available to Minimize This Risk
Having a third-party healthcare revenue cycle management company in place for your organization could change the game for your organization. Outsourcing your billing processes allows you to have the most up-to-date information, codes, and service changes for your practice. This provides a wide range of benefits for your organization — reduced risk of failed claims, better accuracy in financials, and even better customer satisfaction.
Health Revenue 360, LLC has the ability and the expertise to determine the correct billing for telehealth and other care services on an ongoing basis. For most organizations, this means we can prevent claims from being denied and save healthcare providers money in the long run with effective telehealth billing services.
Protect your healthcare revenue. Contact Health Revenue 360, LLC today to learn how we can help you.