Battling Insurance Claim Turbulence
The insurance industry relies on shared risk and managing the financial float is crucial for profitability. Insurance companies invest premiums to maximize returns while maintaining the float’s value. Service providers, like hospitals and private practices, face challenges in filing claims correctly to avoid errors and delays in payments. Implementing advanced software, like ClinicMind, helps streamline practice management, reduce administrative burdens, and ensure accurate claims processing, leveling the playing field between payers and providers.
Facing Insurance Claim Adversity
Payor-provider adversity in the healthcare industry results from opposing interests between insurance payors (companies) and healthcare providers (clinics). Payors aim to minimize claims payouts and delay payments, while providers rely on timely claims processing. Technological solutions like ClinicMind help level the playing field, reducing errors in claims processing. ClinicMind streamlines administrative tasks, leading to better efficiency and revenue management for healthcare practices.
Can Chiropractic Care Be Covered by Insurance?
What happens when a patient shows you their car insurance card to pay for your services? More often than not, this is one of the accepted forms of insurance to pay for chiropractic care services. About 87% of private insurance companies include chiropractic care as part of their medical coverage included in automotive policy. But here’s what to look out for when something isn’t covered. Typically, maintenance and wellness treatment plans aren’t covered by car insurance. It’s still worth double-checking as this isn’t always the case for every automotive policy. In addition to car insurance, U.S. military are eligible to use their government insurance for chiropractic care at over 120 federal bases and medical facilities. Some of the most common insurance providers that cover chiropractic care include: Aetna AVmed Blue Cross Blue Shield Cigna Humana UnitedHealthCare Most insurance policies will cover 50% to 100% of your care plans, so you can expect insurance companies to be the primary source of incoming revenue. You may also find some patients without insurance who are willing to pay up to $200 per visit depending on the service and type of treatment needed. Here are other factors insurance companies look at when providing coverage for services: Clinic location Tests and services Type of technology In the event you’re working with underinsured or patients without insurance, you may want to discuss potential finance or payment plans with them
Finding Solutions to Insurance Claim Problems
Payor adversity in healthcare refers to payment disputes, delays, and billing challenges with various payors, impacting providers’ revenue and workflow. Electronic Health Records (EHR) and practice management software, like ClinicMind, offer solutions to streamline payment processes, manage billing efficiently, and track payments. ClinicMind provides customizable EHR and practice management tools with comprehensive training and support for healthcare providers.
