01 Mar The Advantages of Using an Outsourced Behavioral Health Billing Service
Modern behavioral health practices don’t have room for human errors and oversight in today’s competitive world. Margins are razor thin and guidelines for reimbursements from third party payers are not always easy to follow. It’s difficult, if not next to impossible, to keep up with the constant regulatory changes and payer-specific adjudication rules, or payment processing requirements. If you have locations across multiple states, the degree of difficulty is that much greater.
Many behavioral healthcare organizations have come to realize that their in-house teams don’t have the specific training needed to code correctly or understand payer requirements to maximize revenue. That’s where outsourced billing comes in.
A reputable, well-established behavioral health-specific billing service manages the billing cycle efficiently and expertly so that you don’t have to. A credible billing service should be providing you with custom reports and dashboards to help you see what’s impacting your revenue cycle so you can make quick, targeted changes that help you meet the requirements for value-based care.
At a minimum, you need to choose a billing service that has a team of experts that provides the following resources:
- Checking eligibility
- Submitting and re-submitting claims
- Working rejections and denials
- Posting payments
- Accounts receivable (A/R) management
- Preparing and sending client statements
- Handling audit and compliance issues
- Roll ups
Are you thinking about making a change? Download our free resource, The Advantages of Using an Outsourced Behavioral Health Billing Service to explore the advantages of outsourced billing for your behavioral health agency. For a more in-depth review of revenue cycle management and the impact it has on behavioral health agencies, click here.