Chiropractic Office Profitability – Billing Precision
Profitability: The only reason to stay in business is if your office is profitable or not. Dr. Brian Capra discusses Chiropractic Office Profitability and how it’s affected by Insurance companies and “the float.” The float is something that insurance companies don’t want you to know. [vc_video title=”” link=”https://youtu.be/YK-BJeRhOzU”] Read more about Chiropractic Office Profitability. Learn more about what the insurance companies don’t want you to know.
Chiropractic Billing Company Increases Insurance Reimbursement for Doctors
For years, chiropractors have had to battle insurance companies over payments, audits and fines. Billing Precision co-founder Doctor Brian Capra has developed a system that has dramatically increased insurance reimbursements for doctors. Dumont, New Jersey, July 5, 2011 — Doctor Brian Capra, the co-founder of Billing Precision, has developed a chiropractic billing and management system that has dramatically increased insurance reimbursements for doctors. The highly integrated, web-based system allows for the total communication between all business aspects of a practice. “One area,” observes Capra, “that has caused problems for many chiropractors and other health care providers is in the creation of SOAP notes. SOAP, which is an acronym for Subjective, Objective, Assessment, and Plan, are notes used by doctors to document patient maladies, including treatment. They are often requested by insurance companies and if a doctor has not kept accurate notes, they can end up either not being paid by the company or having to return payments. This is a major problem for chiropractors who have busy schedules and a large number of patients.” SOAP notes takes seconds to use and includes the ability to complete notes with just three touches of the computer screen. The notes become part of the patient’s Electronic Medical Record and can be used by the chiropractor within their office and with billing services and insurance companies. “What I discovered through my own experience,” says Dr. Capra, “is that insurance companies are focused on denying claims and auditing doctors who they see as being vulnerable to audits. SOAP notes, because they are so specific and complete, circumvent that strategy.” Dr. Capra adds, “By correcting processes connected to billing that chiropractors tend to overlook, Precision Billing has eliminated that vulnerability that often plagues chiropractors.” Billing Precision offers a complete system that includes programmable reminders, Point of Service alerts for co-pays, unpaid balances and referrals and simple and clear color-coded identification methods for types of appointments. Also included is the ability to schedule from various sites and for numerous providers, detailed reports related to all scheduling aspects, including daily schedules, load reports, missed appointments, free time, canceled appointments and the integration of patient demographics, billing and Electronic Medical Records documentation. Dr. Capra, whose degree is from Life University, has extensive practice management experience, seeing from 100 to 1,500 patient visits per week. He has also taken an integral part in the shaping of the service processes and automation requirements for Billing Precision to increase billing efficiency and overall practice profitability. He has written numerous articles as well as given many lectures on the subjects of practice management, compliance, and billing. Dr. Capra also wrote the foreword for the book Practice Profitability—Billing Network Effect for Revenue Cycle Management. This book sets the methodological foundation for the Billing Precision solution, explains the rules of the modern “payer-provider conflict,” and shows how to apply and manage winning Internet strategies, such as the “network effect,” to level the playing field with the payers.
Chiropractic SOAP Notes Provider Helps Doctors Prevent Insurance Audits
Billing Precision Lives Up to Its Name When it comes to chiropractic billing accuracy is essential. Incomplete or inaccurate SOAP notes can lead to a doctor having to refund thousands of dollars of medical reimbursements to payers. That is, the health insurance agencies. SOAP notes (SOAP stands for Subjective, Objective, Assessment and Plan) are a central aspect of the patient documentation process and the workflow as chiropractors share the information with personnel within their office, including schedulers and billing, health care professionals outside of the office and other agencies and organizations as is appropriate. Exactness is Important The SOAP notes software from Billing Precision addresses insurance issues before they ever become issues. In other words, the notes are setup in such as way that chiropractors are able to fill them out in a matter of seconds in the presence of patients. This helps to ensure accuracy in many ways. First, the ability to take notes immediately means that chiropractors are able to document a patient’s condition with accuracy benefits the patient in their treatment and the practice workflow enabling patient appointment scheduling, the effective creation of notes and timely medical billing. The software makes it easy for a chiropractor to send notes to others via the Internet and storage and access if immediate. The Dreaded Audit If there’s one aspect of chiropractic billing that a doctor dreads it is the insurance company audit. Audits occur when a company questions a chiropractor’s bill. For every dollar an insurance company spends on an audit, they make an average of approximately $13.00 That 13:1 ratio is a big payoff for the insurance companies and a major hit for chiropractors if they are unable to backup a patient’s treatment with clear, succinct notes. That’s when something like the software driven SOAP notes are indispensible. They work wonders in keeping a chiropractor organized, giving them and their staff the ability to access and use their notes at any time. Taking Care of Business Chiropractic billing, scheduling and follow up are all made easy with Billing Precision’s SOAP notes. When a payer requests notes rather than offering an Explanation of Benefits (EOB) or payment, it can be handled quickly. With Billing Precision, chiropractors can create their notes with two to three screen touches, can integrate their bill, insurance claim and care plan records with ease and save money and time, reinvesting them into their practice. Keeping the Workflow Going The income, scheduling and virtual paper stream are uninterrupted with a specialized software notes program. For chiropractic billing, there’s no easier way to keep their business organized. Fully integrated SOAP notes is one way that chiropractors have found to improve productivity and cash flow and to prevent insurance audits.
Chiropractic Billing Software Helps Doctors Collect More
Doctors Find Chiropractic Billing Software Can Help Ensure Payments from Insurance For chiropractors, who are so busy seeing patients and maintaining records regarding their patients, the chiropractic billing process can be time consuming and it can often lead to a doctor losing cash that they have earned. Record keeping is an essential aspect of not only patient health but a doctor’s fiscal well being. There are a range of services related to chiropractic billing that can make the difference between success and failure. Even if a doctor sees a large number of patients, he/she can end up losing money due to the amount and kind of paperwork that they must engage in when working with health insurance companies. Range of Activities Chiropractic billing and compliance are two general areas that can be taxing, as chiropractors must ensure that they are able to properly document visits and treatment in a timely manner. The computer and Internet have become major factors in this process. Companies such as Billing Precision have developed software dedicated to making a chiropractor’s paperwork as effortless, effective and efficient as possible. SOAP One major area that software can help in chiropractic billing is the manner in which it allows a doctor to use SOAP notes. SOAP, which is an acronym that stands for Subjective, Objective, Assessment and Plan, is an essential part of the patient documentation process that doctors may be asked to submit to insurance companies when they are audited. The ability to make short order of this process by taking immediate notes that are accurate is essential to chiropractic billing and the financial health of a practice. Result—Doctors Collect More Over the years, the amount of money that health care providers have had to pay back to insurance companies has risen precipitously. In 2006, it was 20 times more than a decade before, resulting in doctors refunding insurance companies $3.1 billion. Software such as that from Billing Precision allows doctors to take SOAP notes in seconds with exactness that is indisputable and unquestionable. When it comes to submitting them to health insurance providers, chiropractors can do so with confidence. The notes are exact and specific and dissuade insurance companies from performing further audits where doctors who are not in compliance often have to refund thousands of dollars. Reversing a Trend By creating time saving chiropractic billing software with SOAP notes that are 100% compliant, a company such as Billing Precision has helped to ensure that chiropractic billing can be done in such as manner that the doctor is guaranteed their payment and later if they do face an audit will found to be in compliance. Over the past few years, doctors have had to struggle more and more to collect and keep money from insurance companies that they have earned. Specially designed software is focusing on and successfully reversing that trend. That has helped to raise the health care practitioner’s productivity, making their business much more profitable.