Top 5 Tips on how to get paid QUICK

At Practice Plus, we hear medical practitioners mention their receptionist handles their practice billing and some occasions we discover the medical practitioner themselves battle through this process after hours.
How to get paid quickly

At Practice Plus, we hear medical practitioners mention their receptionist handles their practice billing and some occasions we discover the medical practitioner themselves battle through this process after hours. We provide you with tips on how to get paid quick.

Maintaining your patient’s well-being should be your primary focus; however, your practice is still a business.  The success of your practice over the next five to ten years may depend on how seriously you take your cashflow.

With any business, a positive cashflow is number one in keeping a business afloat. Indeed this is the same for your practice. Submitting claims instantly and ensuring they are correct is extremely important to ensure you get paid quick.

Here at Practice PLUS, we follow five easy steps to ensure our Medical Practitioners receive timeous payments. Take a look:

Accurate Patient Information is vital.
Transferring data manually from hand-completed forms onto a digital platform can allow for faults. We recommend making a copy of the patients’ ID. This ensures you have the correct details should the manually completed form not be clear. We ask hospitals and medical receptionist to take the time to confirm they have the correct information to ensure no hiccups when it comes to submission.

Authorisation numbers for any procedure and ICD10 Codes
Claims that are not coded correctly will not be paid. Often times it’s a simple digit missing which can cause a delay in receiving payment. Or worse still, the incorrect code which does not match the reason for the procedure or visit.
Same day billing and sending to medical aid
We claim, reconcile and submit to the medical aid within 24 hours of receiving your receipts, to ensure your claim is submitted ahead of the Medical Aid pay run.
Recall lists
Our team set aside time each day to review accounts receivable reports. Should they pick up any errors or outstanding payments, they contact the Medical Aid to follow up, get a claim number and ETA on when the account will be processed.
Correct payment allocation to correct code.
When money comes in, we tick off the payment alongside the correct code. Any discrepancies or non-payments get investigated. Without meticulous management of your accounts, you could miss money due to you and thus not be as profitable in the future.

Should your Practice be struggling with the administration that accompanies cash flow, give us Practice PLUS a call to see how we can assist in your practice profitability.
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