One of the biggest challenges to any business is cash flow. In a healthcare practice that boils down to just plain old coding and billing. Unfortunately this is something many of us did not learn in school.
For me, this is but one of the largest challenges that I’ve faced since opening their doors nine months ago. Initially, we had outsourced billing to a company that promised to submit her bills, follow-up on any denials, do the secondary billing and mail out statements to patients. We were also promised real-time access to data via their website. Unfortunately and despite us doing our to diligence, none of this was forthcoming. Six weeks into practice with very little money coming in, I sat down to learn how to bill. Imagine both my surprise and relief when within 10 days money started coming in. Today, I’m still doing the initial billing and my practice partner is doing the follow up.
While I had always heard “no one cares for your many like you do”, the whole truth of that can home to me.
If you are in planning or startup phase for your practice, think hard and long how you will achieve proper coding and billing. While seen enough patience is essential, it will do you no good if this essential step is missed.
As we move forward I hope to share with everyone my resources for coding and billing and practice management. In the meantime what are your questions, concerns, and frustrations about billing.