Setting up and running your own medical practice can be both personally and financially rewarding. You get to treat patients and you can do this on your own terms.
With that being said, as with any business, running your own medical facility is not easy. Your facility will need to be totally compliant in terms of the healthcare you provide and how much you charge for it.
Billing errors can happen and they may vary in severity. Here are some mistakes that you should try to avoid.
Identity mistakes
It’s important to make sure that you have accurate details on all of your patients. You need to know who they are, where they reside, and what type of insurance coverage or Medicare coverage they have. Not having accurate information on the identity of your patients can result in billing errors, which can cost your healthcare business a significant amount of money.
Failing to include treatments
It is vital that you document all treatments that your patient has. Some patients may only need one consultation and a course of medication, while others may need various tests, consultations with multiple doctors and lengthy treatments and extensive procedures. Failing to bill for a treatment could end up costing you tens of thousands of dollars, and the patient may not be well enough to notice the error. At the end of the day, it is your responsibility to ensure that you are paid appropriately for the treatments you provide.
Regular audits, staff training and thorough documentation can help ensure that your healthcare business remains compliant and avoids billing errors. If you are just getting started or are in the midst of a dispute, the importance of legal guidance cannot be overstated.