If you don't follow these steps, billing can become extremely difficult:
• Proper coding
• Completing paperwork
• Making a claim
• Lack of communication
Your Infusion Pump bill reimbursements will be determined by these variables. In the same way that medical billing permits for most favorable revenue generation, it also allows for a high rate of denials for both basic and nuanced purposes.
In addition to the anticipated growth, there will undoubtedly be numerous challenges. The process of DME billing, as well as reimbursements, has become more complicated than ever.
Following are some of the most frequently encountered Infusion Pump billing issues: So that everyone is aware of them and can deal with them before they affect your business.
The demand for home healthcare is increasing:
The Infusion Pump Billing industry is thriving. The demand for home healthcare is expected to increase in the coming days. Aside from this anticipated development, there will undoubtedly be numerous challenges. Medical billing, as well as reimbursements; have become more complicated than ever.
• Insufficient paper-work
According to statistics, $2.6 billion of the $3.2 billion Medicare Trust Fund was withheld due to insufficient or incomplete documentation. Because these paper works are such an important part of the method, keeping track of and applying patient-related data is ideal.
Carelessness or even a minor error will result in claim dismissal, resulting in a waste of time and money. This could have a significant impact on your revenue generation.
• Infusion pump coding errors
The top coding challenges faced by healthcare providers, according to a survey report released by the American Health Information Management Association (AHIMA), are using the seventh character for trauma and fracture codes and using procedure codes incorrectly.
Apart from these two, it also includes issues like
• Improper use of guidance tools
• Misdiagnosing respiratory failure
• Insufficient documentation of devices
• Components and grafting materials
As a result, incorrect codes can be another major cause of claim denials, resulting in inconsistency in the Infusion pump billing process.
• Claims Management
Claims management is an important part of the Infusion pump billing process. After you've filed claims, you'll need to check in with the insurer regularly to see if there are any discrepancies or to find out how many claims are expected to be resolved in the coming months so you can graph accordingly.
Inexperienced billers and coders, a complex pre-authorization process, and a software shortage are all challenges for Infusion pump billing companies.
Hence to conclude, as an Infusion pump provider company, you should be aware of and ready for changes in the medical billing codes and procedures at all times. As a result, given the complexities of Infusion pump billing, outsourcing is a viable option.