Chiropractic Billing In The 21st Century
Chiropractic billing has become more and more complex in recent years. With the dynamic demands and requirements of federal and state government, it has become extremely difficult for a chiropractor to obtain maximum reimbursements from major insurance carriers. In addition to the countless laws and regulations that must be accounted for, there will be new medical billing coding beginning on October 1st 2015. This new coding scheme is altering chiropractic billing like never seen before… Are you ready for the new ICD-10 switch?
Are You Sending Claims Out Properly?
Did you know that 3 of every 5 claims are processed improperly? This leads to underpayments, partial payments, increased chance of audits and increased costs associated with billing and collections. This directly impacts a doctor’s cash flow and profitability. As a result 78% of a DC’s profits, on average, go towards just tracking payments, not including the costs associated with denials and improperly written off claims.
Chiropractic billing is evolving by the day. Chiropractors are facing reduced compensation, increased scrutiny of documentation and billing practices, lack of qualified staff and high staff turnover rates, which all drive the need for Chiropractors to be hyper-efficient with their time. Chiropractors are forced to waste valuable time and money dealing with administrative tasks, insurance companies, and staffing issues. This drives down earnings, increases costs, and reduces overall profitability.
With CloudChiro’s experienced billing team comprised of coding, billing, and collection personnel, you will free up time to treat more patients and improve patient care resulting in higher profit margins. We provide any and every report requested by your office. CloudChiro makes it easy and cost effective for Chiropractors to get paid and stay compliant by providing the best virtual billing team in the industry. CloudChiro substantially decreases the amount of time it takes a claim to clear the entire billing process, including but not limited to, all clearinghouse and payer steps. Denial rates are reduced by up to 5 times! With the small percentage of claims that do get denied, CloudChiro’s billing team corrects and rebills the claim immediately… most outsourced billing departments skip the rebill process entirely! CloudChiro billing is proven to increase reimbursement rates to ensure the largest payment possible for a particular treatment, no matter the carrier.