11 mint read
We will be talking about using acupuncture billing services to increase revenue. You will also learn how you can outsource them to focus more on your patients. Continue reading further if you want to step a little back with them while capitalizing on their benefits.
Overview of Acupuncture Billing
Acupuncture billing is an important process that can increase revenue. The practitioners involved are called acupuncturists. They insert thin needles into the human body to heal it. So, it has a specific nature that needs unique approaches.
You have to understand the codes for acupuncture billing. Some acupuncturists also keep tabs on their procedures in documents. They also manage the insurance processes of such procedures. You can assign different codes to your procedures. Different codes can accurately represent those procedures.
This process is vital for hospitals. You have to support your claims with precise bills. Acupuncturists also have to justify the medical necessity of those bills. They can use it to conduct denial management. You should also maintain your documents and ensure they meet insurance requirements.
Managing billing and insurance at the same time can get complicated. You have to be in constant touch with insurance companies. You should conduct insurance eligibility verification of your patients among other things.
How Does Acupuncture Billing Service Help?
1. Improves Administrative Work
Acupuncture billing services increase the efficiency of hospitals. They can also make your administrative work simple. It includes making bills and assigning codes.
You can easily maintain your records as well. These processes are difficult. You can manage them to reduce the workload on your acupuncture staff.
They can use their free time and resources to focus on patient care. Optimizing administrative work is important for hospitals. It ensures that you generate accurate bills for your acupuncture services.
This way, you do not have to deal with the complicated administrative processes. You can save your time and improve the medical workflow. Hospitals can also easily manage their finances.
2. Assigns Accurate Codes
You can also conduct acupuncture billing services to assign accurate codes. These codes are assigned for acupuncture treatments. Hospitals have to ensure that they only assign accurate codes.
They reduce billing errors and claim denials. This way, you can use code assignment to increase your medical revenue. You have to focus on specific codes for each acupuncture procedure.
These services enable an easy acupuncture billing process. You do not have to correct your bills that often. Hospitals also have to work with insurance companies at all times.
They regularly communicate with them to ensure accurate medical coding. You can also receive your payments. It improves the efficiency of acupuncture procedures as well.
3. Improves Revenue Cycle Management
Acupuncture billing services can also improve your revenue cycle management. You can conduct them to track your payments and claims. These processes are parts of an effective financial workflow.
Hospitals can timely manage their billing procedures as well. It reduces payment delays from insurance companies. You can increase your cash flow. Acupuncture billing services enable easy administrative work.
They also enable you to improve your financial processes. You are able to use more resources on patient care as well.
4. Manages Insurance Process
Acupuncture billing can even handle the difficult steps of insurance processes. You have to closely work with insurance companies. You can clarify the details for those insurers. These details can include pre-authorization requirements and coverage details.
This way, hospitals can simultaneously provide acupuncture services and manage their insurance. It decreases your administrative problems. It also processes claims faster to ensure timely payments.
Your acupuncture services become financially efficient. The difficult insurance processes become simple. They make your administrative work more effective and efficient.
5. Ensures Complete Documentation And Compliance
You have to ensure your acupuncture billing services adhere to the set regulations. Hospitals also have to maintain their documentation according to those regulations. They must follow those medical standards.
You can remain compliant to make billing easier. You have to record comprehensive and accurate details for that. These steps save hospitals from legal and regulatory issues. Acupuncture billers are confident in the efficiency of their services.
6. Increases Cost-Efficiency
Acupuncture billing services can also make your medical processes cost-efficient. You can outsource them to decrease your operational costs.
You also do not have to extensively focus on your in-house measures. You can specialize your billing services to increase your cash flow. They also improve your resource allocation.
Hospitals can use this approach to work on major medical processes. It improves their revenue cycle. You can also increase the quality of your patient care.
Life Before And After Managed Billing
Before managed billing, acupuncturists faced many problems with their services. They struggled a lot with insurance and paperwork. They often made mistakes while assigning codes.
These mistakes delayed their claims processing. They also caused confusion about insurance. There are many differences between acupuncture and other medical procedures.
So regular billing methods had no effect on it. Assigning codes took a lot of time. Acupuncturists often received claim denials. Working with insurance became slow and confusing.
Hospitals had to wait a lot for their payments. It was difficult to maintain records and follow regulations. Even then, acupuncturists often ran into legal issues due to poorly managed records.
After managing billing, a lot of things changed for acupuncturists. They could provide fast and accurate services. Administrative tasks became a lot easier. They were able to assign accurate codes and manage claims. They also effectively dealt with insurance providers.
Hospitals learned new ways to manage their finances better. They became better at following regulations and managing paperwork. The number of legal issues also decreased a lot. You can now outsource services to save money.
Hospitals are able to use more resources for top-quality patient care. The space before and after managed billing was huge. It is a better and easier method for healthcare organizations.
The Benefits Of Outsourcing Acupuncture Billing Services
1. Billing Expertise
You can outsource your acupuncture billing services. Outsourcing companies have expert and skilled billers. They only manage acupuncture cases. The companies place them in the acupuncture department. This practice ensures those billers efficiently conduct the services.
This way, hospitals benefit a lot from outsourcing. They reduce their billing errors and increase the flow of payments. Outsourcing companies also use the specialized knowledge of their experts.
Specialized knowledge reduces claim denials. It also improves the administrative process for acupuncturists. You can assign your billing tasks to those outsourcing experts. They probably know everything about the billing codes of acupuncture services.
Those experts can use their knowledge to manage the finances of your hospital. This practice frees up your time. You can use that time to provide top-quality patient care.
2. Saving Time And Resources
Outsourcing your billing services will also save you time and resources. It will decrease your workload. You will not have to worry about any administrative issues. The outsourcing companies will take care of that.
In fact, acupuncturists have more time on their hands after outsourcing. They can use that time on other important matters related to acupuncture. Outsourcing is also cost-effective. It saves the capital allocated for resources.
This way, acupuncturists can focus a lot more on their main responsibilities. They can devote their time and attention to making their practice more efficient.
3. Fewer Claim Denials and Errors
You can also prevent claim denials and other billing errors with outsourcing. Outsourcing acupuncture billing services is known to reduce a lot of them. The companies have specialists who can accurately assign acupuncture codes.
They also rarely make mistakes and maintain accurate patient records. Insurance companies are likely to accept most of your reimbursement claims. You will notice faster billing transactions. All this can happen if you outsource your billing services.
Reduced claim denials mean faster payments. Your cash flow will increase. Precise bills maintain the financial stability of hospitals. They also serve as a peace of mind for acupuncturists.
4. Improves Cash Flow
Outsourcing increases the cash flow of acupuncture billing services as well. Their experts can easily manage your bills. They can timely submit them and process their payments.
They use an effective approach that prevents delays. Their approach leads to a reliable and consistent income for hospitals. So you must look into outsourcing if you want a steady cash flow.
It can effectively divide resources and plan your finances. Outsourcing is a simple and effective process. This is how you can maintain financial stability. Acupuncturists can also focus more on their work. They do not have to worry about any payment delays.
5. Enhanced Compliance
Acupuncture billing services should follow industrial regulations. Outsourcing them can help you enhance your compliance.
The experts at outsourcing companies keep themselves updated on those regulations. They will ensure your documents match the acupuncture standards.
They remain committed to complying with the legal policies. Based on those policies, you have to manage complete patient records. This way, you do not run into any compliance issues with the medical industry.
6. Focus on Patient Care
Acupuncturists outsource their billing services to focus more on their patient care. They hand over their billing tasks to outsourcing companies. Those companies have specific experts who can benefit you.
You get more time with your patients to build relationships. You do not have to deal with any administrative process. Acupuncturists use billing processes to improve the care quality of patients.
Outsourcing enables a patient-centric practice for hospitals. It enhances treatment outcomes. It also satisfies both acupuncturists and their patients.
How Is Acupuncture Billing Different From Medical Billing?
1. Specialized Codes
The codes assigned to acupuncture billing are different from those in medical billing. They have a specific nature that only matches with acupuncture procedures. An example of their specific nature is the insertion of thin needles.
The specialized coding for acupuncture treatments ensures their sessions are accurately represented. Medical procedures are not provided like that. They do not inform patients much about how hospitals make schedules.
Acupuncturists must first understand their codes and then apply them. You should also clarify your billing processes. You must ensure that your finance aligns with the procedural requirements.
2. Documentation Challenges
The dynamic nature of patient sessions in acupuncture billing can be a challenge. It involves regular visits from patients. So acupuncturists have to understand all the details of coding in detail. They can use the data gathered to accurately represent their services.
This real-time data becomes part of their documentation. These documents are considered representations of the acupuncture procedures performed. Medical billing has a static entry of records into its documents.
As a result, maintaining documentation in acupuncture billing is difficult. You have to constantly update them as soon as their data changes. So, documenting medical billing records is easier.
3. Insurance Conditions
There are specific conditions to cover medical insurance in acupuncture billing. They are entirely different from the ones in medical billing. Acupuncturists have to customize their responses with insurance companies.
These changes are based on how they want to process claims and receive payments. Medical billing has regular patterns in terms of generating bills and reimbursements. It does not have to change its practices for every patient case.
You will have to develop separate approaches for your acupuncture patients. But they are unnecessary for medical billing. It can work with a combination of the same patterns.
What Are The New Acupuncture Billing Cpt Codes?
One of the new acupuncture billing CPT codes is 97810. It refers to the acupuncture procedures that include one or more needles. They are provided without any electrical stimulation. This code only covers the first 15 minutes of such procedures.
97811 also includes acupuncture services with one or more needles. It covers an extra 15 minutes with re-insertion possible. The 97813 code adds electrical stimulation but only covers the first 15 minutes.
Another new acupuncture code is 97814. It also includes electrical stimulation. You can apply it to every extra 15 minutes.
The Bottom Line
This blog analyzed acupuncture billing services in detail. We learned how they can improve the finances of hospitals. We also covered the impact of managed billing on acupuncture treatments. The other section of this blog focused on outsourcing acupuncture billing.
Health Quest Billing has a team of dedicated medical billers to revamp your services. Contact us today to learn how we can help with your acupuncture billing services.