How Common Are Medical Billing Errors in Medical Claims?
People tend to get anxious every time they have to open a medical bill. Considering the state of the US healthcare system, the medical bills often run in 5, 6, or even 7 figures. And there is a big question if your insurance is going to cover everything.
People assume that healthcare providers focus on accuracy and always send out the correct invoice. However, that doesn’t have to be the case, as errors are relatively common. Read on to learn all about it.
Exactly How Common Are Medical Billing Errors?
Several surveys and analyses have looked into the prevalence of medical billing errors. The American Medical Association estimated that 7.1% of paid claims in 2013 contained a mistake. A 2014 survey by NerdWallet was far more concerning, as they found an error in one out of two Medicare claims. But what’s really worrying is that Medical Billing Advocates of America and CoPatient estimated that 3 out of 4 medical bills contained an error. That means that the majority of patients will get an incorrect invoice, and it will rarely be a lower amount.
What Can You Do to Protect Yourself as a Patient?
Since errors can inflate your medical bill, you need to make sure the information provided by your healthcare provider is accurate. Always ask for an itemized version of your medical invoice. That will show every procedure or service you received and represented by the appropriate medical code.
You can look up medical codes and make sure they match the services you received. You can also research online resources, as every hospital must have a list of basic procedures they provide and the pricing. That way, you can do a quick scan and make sure they are not overcharging you.
After reviewing your itemized bill, you can contact the provider if you suspect an error. Feel free to consult with a third-party professional who can help you determine whether your invoice is problematic. Most insurance companies have a support team that can assist you in this. For instance, you can contact the Senior Medicare Patrol about your complaints and possible healthcare fraud.
What Can You Do to Protect Your Medical Practice?
Medical billing errors are bad for all parties involved, and medical practices pay billions of dollars every year because of these mistakes. So, if you work in a healthcare facility, there are some things you can do to prevent billing errors.
First, get software to automate the process, as it significantly reduces the chances of errors. Other suggestions include:
- Keeping up with medical code changes.
- Training your personnel.
- Ensuring billing staff focuses solely on that part of the job.
- Respecting timeframes.
- Providing proper communication channels between the departments.
- Communicating with patients.
Partner Who Can Take Care of Your Medical Billing Errors
The best way to minimize billing errors is to partner with a reputable company specializing in this area. Peregrine Healthcare is one of those companies, and we have extensive experience dealing with the revenue cycle, billing, and communicating with insurance companies.
Our goal is to allow you to put your finances on autopilot with us, and focus only on your medical practice while we ensure a continuous revenue stream. Click here to learn more about our services.
Call Now 877-463-1110
Please complete the information below to receive a complimentary practice analysis or more information on a specific service.