Medical Billing

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chiropractic billing services

How Much Do Chiropractic Billing Services Charge?

The healthcare industry runs on diverse treatments and people having the expertise to work under a specific health domain. One of the crucial role players in this industry is chiropractors. They are the ones who ensure your musculoskeletal system is in place. Patients facing disorders related to bones, especially spines consult with these professionals. However, if you are a chiropractor providing healthcare to the patients, then you must consider chiropractic billing services.

As a provider, it is essential to cure each patient properly. But when you focus on patient care, somehow medical billing is compromised which results in less revenue generation than expected. Here having external assistance can help you out which will handle all your billing tasks. 

So if you want to collect ample revenue equal to your efforts then go for chiropractic billing services. But it might seem a bit costly. Is it really? Let’s learn about this interesting healthcare profession and a breakdown of the costs associated with billing outsourcing.

What Do Chiropractors Do?

a chiropractor treating patient

Chiropractors are healthcare professionals who treat musculoskeletal disorders, mostly related to back bone and spine. They apply a number of techniques and procedures which gradually results in improved body movement and reduced pain. In order to understand the billing needs for this practice, we have to understand their treatment process.

First, they identify the cause of the patient’s body pain and discomfort by reading their medical history or observing pain while moving the specific body parts. They also evaluate X-ray reports to find out the root cause of the issue.

Then, they conduct spinal manipulation (if this is the case) as an initial treatment. Here they apply a cautious force to spinal joints to open their lock and facilitate movement. This helps in improved nerve functions and enhanced body mobility. 

Body tissues are another target area for these professionals. They conduct massaging techniques on trigger points to soften tissue functioning. This contributes to a more flexible body when combined with skeletal treatments.

Besides, chiropractors provide therapy services as well to regularly stimulate dysfunctioning areas to make them work. They may also provide awareness about body tissues and muscle systems to keep fitness in check.

What Are The Chiropractic Billing Services?

medical cost

As you know the common service chiropractors provide, it has become easier to analyze what services they need billing for or we can say it is now better for us to comprehend top chiropractic billing services provided by specific companies. Here is an overview of the aspects of chiropractor practice that need to be managed by professionals:

Insurance Eligibility and Verification

The most initial and crucial step is to identify the patient’s insurance eligibility. Professionals to which you have outsourced your billing will conduct quick processes to assess their insurance coverages and medical services they can receive under your practice. They also calculate copayments and deductibles according to the patient’s coverage to improve cash flow.

Charge Entry

This process needs close attention to detail because it defines the payment a healthcare provider will receive. Chiropractic billing services spend proper time entering the accurate charge in the patient account to inform them of their owed amount.

AR Follow Up

Chiropractors need to implement a proper follow-up system to ensure timely revenue collection. A payment that is forgotten is a lost payment. Let external staff handle this headache for you. They keep an eye on every single payable amount, be it a bill or claim. This AR follow-up gets you every payment you deserve, no matter if it is delayed.

Denial Analysis

Chiropractic billing services are incomplete without denial management. Manual claims have a high chance of rejection which weakens your financial stability. But the service package involves:

  • Preparing accurate claims with appropriate code
  • Submitting applications by fulfilling the criteria of each insurance provider
  • Track statuses of paid as well as denied claims
  • Resubmit rejected claims after error correction

This all collectively results in 80% maximized potential to win claims and get reimbursed within time.

Payment Posting

Successful payment posting can only be done when you have a good patient relationship. Chiropractic billing services providers maintain regular communication with them, knowing their payment issues. If any patient is unable to pay at the moment, customized payment conditions are offered to ensure revenue collection.

Also, the patient accounts will be managed responsibly. Their payment details are mentioned on time to maintain updated data.

Provider Credentialing

Last but not least, before even starting your chiropractic practice you need validation from higher healthcare authorities. But billing service providers will handle this crucial task as well. By following a provider credentialing checklist they submit your application which guarantees quick permission grant.

Even as an experienced provider you need to be updated with healthcare laws like HIPAA. So get help from these professionals and stay compliant with the laws without putting much effort and time.

Overview Of Pricing Structures

pricing structure of chiropractory

Chiropractic billing services offer multiple payment options to suit your different needs. One common approach is percentage-based modeling where fees are charged from the total revenue collected. The charges typically range from 4% to 10%. This is an easy payment term that does not put extra pressure on you to pay especially when you collected less revenue than expected.

Another common fee structure is a fixed cost. Some service providers may charge a fixed monthly or annual amount irrespective of what you have earned. On average, monthly charges for these services range from $500 to $2,500 or more. Whereas annual costs may range anywhere between $6,000 to $30,000. This payment method is perfect for big facilities where they want to reduce the mess of payments. All you have to do is to pay at the beginning of the period and your entire billing is managed, whether the workload is more than usual.

Ultimately, the cost of chiropractic billing services varies depending on the services you receive as well as your practice’s size. So it is essential to have a detailed discussion with the provider and know all charges in advance to make a decision.

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    Choosing The Right Billing Service

    Now if you are thinking of having chiropractic billing services then your guide will serve as a starting point. Analyze what service you need assistance with. Also, find out if you will be more suitable with monthly payment or do you want to give a certain percentage of your total revenue.

    Do proper research on the payment rates in your area and find a suitable quote.