If you have been watching the news lately, you will find that a lot of rehabs are going out of business. This seems to be a trend that started late 2015. However, it is expected that more closings will occur in 2016. The main reason for this is that rehabs cannot figure out how to turn good profits for their treatment center. It is estimated that treatment centers will lose around 35% of their profits if their billing is not done correctly. Many treatment center owners are already seeing this happening.
You have to be smart about your billing these days. There are no rooms for error. Many billers today are seeing checks as low as $1,000.00 for their patient's treatment. It is not even enough to pay salaries. You are lucky if you can turn a profit. It is important that you hire qualified medical coders. If you are asking yourself how a coder is qualified, please read on.
Many treatment center owners are trying to figure out if they should keep their practice up and running or close it down. This is a decision that will have to be talked about. In the past, treatment centers were often receiving checks for $20,000 to $30,000 for treating patients for a 30 day stay in their facility. Today, treatment centers are not seeing these kinds of profits. There seems to be some kind of a war going on with insurance companies and rehabs.
What can you do in order to ensure your treatment center does not get closed down? Here are a few tips for you to check out. For starters, check out your medical billing? Do you have a certified ICD-10 coder working for you? If they are not ICD-10 certified, you need to replace them with someone that is. If you can't find one, then outsource your billing. It is estimated that 17% of medical billing jobs go unfilled because there are not enough qualified workers. Remember that you are in charge of your own success. You must go through every nick and cranny to figure out how to turn your profits around. If you don't know anything about billing, you may want to take a few courses just to become familiar with coding today.
Billing companies today that work with rehabs say that they are seeing higher returns. It is important to understand that treatment centers are doing better when they outsource. If you work with a professional billing company, you will more than likely see your profits growing in leaps and bounds. You get revenue success reports and phone conversations about your claims. Claim follow-ups are also a big deal.
You have to be smart about your billing these days. There are no rooms for error. Many billers today are seeing checks as low as $1,000.00 for their patient's treatment. It is not even enough to pay salaries. You are lucky if you can turn a profit. It is important that you hire qualified medical coders. If you are asking yourself how a coder is qualified, please read on.
Many treatment center owners are trying to figure out if they should keep their practice up and running or close it down. This is a decision that will have to be talked about. In the past, treatment centers were often receiving checks for $20,000 to $30,000 for treating patients for a 30 day stay in their facility. Today, treatment centers are not seeing these kinds of profits. There seems to be some kind of a war going on with insurance companies and rehabs.
What can you do in order to ensure your treatment center does not get closed down? Here are a few tips for you to check out. For starters, check out your medical billing? Do you have a certified ICD-10 coder working for you? If they are not ICD-10 certified, you need to replace them with someone that is. If you can't find one, then outsource your billing. It is estimated that 17% of medical billing jobs go unfilled because there are not enough qualified workers. Remember that you are in charge of your own success. You must go through every nick and cranny to figure out how to turn your profits around. If you don't know anything about billing, you may want to take a few courses just to become familiar with coding today.
Billing companies today that work with rehabs say that they are seeing higher returns. It is important to understand that treatment centers are doing better when they outsource. If you work with a professional billing company, you will more than likely see your profits growing in leaps and bounds. You get revenue success reports and phone conversations about your claims. Claim follow-ups are also a big deal.
About the Author:
A medical billing and coding organization should offer Your organization with utilization management and verification of benefits. Your organization should get a good billing and coding organization that works with hospitals and treatment centers of all sizes. We have been doing great coding for years now.
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