Of all those time-consuming, complex processes that go into healthcare billing cycle, be it eligibility verification, coding, claims submission or payment posting, one process that stands out the most, considering its complexity, is charge entry services. Charge entry is critical to billing and even a minor mistake not only impacts the reimbursements that you receive from the insurance company but also leads to compliance issues. Hence, a well-structured charge entry is an important part of the billing process to ensure a good reputation, fewer denials and a constant cash flow for the medical practice.
What is charge entry process?
Charge entry is a crucial step in the medical billing process, where the charge entry specialists assign the right monetary value for the medical services rendered by the physician. In this process, all patient accounts created are assigned with proper monetary value based on the medical codes and fee schedule. For this purpose practices need to be in line with the codes as codes and charges are updated frequently. Being ignorant of changes in codes and charges can lead to serious financial loss. Achieving quality in charge entry process ensures that the cost of services is billed rightly for reimbursement.
The importance of charge entry process
If you are keen on protecting the financial health of your practice, it is important that services are billed accurately and collections maximized. And that starts with an efficient and accurate charge entry process. Charge entry is a key step as it involves “keying” in of crucial data to enable claims processing. Due diligence should be exercised to ensure it is done in the appropriate manner and without any errors. Any mistake made in the charge entry process will be immediately reflected as claims get automatically rejected upon submission. To ensure that entries are error-free the charge entry team and the medical coding team should collaborate and work together.
Steps in charge entry process
In order to ensure error-free charge entry process the following are the two main steps involved.
How accurate charge entry can help medical practices?
Now that you are aware that charge entry is a complex, intricate process, it should be carried out by highly-detail oriented and trained professionals who have years of experience in the medical billing field. This is why it is important to outsource your charge entry process to the experts in the field – Scribe4Me. We have a well-structured and seamless charge entry process in place to ensure accurate and error-free charge entry services to minimize claims denials and ensure a healthy cash flow to your practice. If you would like to optimize your charge entry process for maximum benefits get in touch with us today.
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