Specialty Chiropractic Billing

Top Chiropractic Billing Mistakes Crushing Your Revenue

Have you noticed your revenue taking a nosedive lately? Those declining insurance payments dragging down your profit month after month? Many chiropractors struggle with this. Usually, it boils down to a few common chiropractic billing mistakes sabotaging their bottom line.

But have no fear! In this post, we’ll walk you through the top mistakes that crush chiropractic revenue, why they happen, and how to fix them fast.

Sound good? Then let’s get started!

Sloppy Documentation

This is the #1 killer of chiropractic revenue. Simply put – sloppy SOAP notes and documentation lead to denied claims which leads to no money in your bank account. It happens because chiropractors get busy and shortcut the notes. Most documentation errors tie back to:

  • Not listing detailed symptoms and complicated health factors making care medically necessary. Leave things out? Denied.
  • Forgetting to link treatments back to a clear diagnosis code. No reasons why? Claim denied.
  • Neglecting goals/treatment plans. No roadmap for care? You’ll have some unhappy insurance auditors down the road.
  • Missing signatures, dates, etc. Seems small but causes big problems fast.

The Fix: Take the extra 5 minutes with each patient visit to tidy up notes, confirm details, clearly state medical necessity factors before submitting claims. Huge time saver down the road.

Coding Errors

Another revenue killer ties back to messy coding on claim submissions. Those wrong codes trigger denials and delays from insurance companies. Common coding mix-ups stem from:

  • Picking codes not matching care delivered. Insurance denies it instantly as incorrect.
  • Using outdated codes no longer valid. They’ll bounce right back rejected.
  • Attempting to “upcode” to raise reimbursements. Don’t. Just…don’t try it.
  • Entry errors by staff. Typos crush claims before they go out the door.

The Fix: Confirm codes actually match the treatment given and Patient diagnosis with clear documentation supporting it. Remove outdated codes from systems and update any cover sheets/claim templates regularly.

Failing to Verify Insurance Eligibility

It’s crucial that the chiropractors always check policy details upfront before rendering care. But this still goes overlooked because:

  • Staff forget to verify eligibility when booking visits.
  • They only screen for active insurance, not specifics of chiropractic coverage.
  • Patients switch plans and don’t inform you until their bills get denied.
  • Verification checks don’t filter down to all providers in shared networks.

The Fix: Create eligibility verification steps in scheduling workflows. Get specifics on deductibles met, visit limits per year, etc. Update insurance details at least quarterly. Share network rosters internally.

Care Delays

As a chiropractor there is nothing more frustrating than getting your payments 3, 6, even 9+ months down the road. The problem persists thanks to:

  • Claims errors triggering appeals, audits, delays even after correcting issues.
  • Insurance delays from short staffing and bulk claim volumes on their end.
  • Clearinghouse transmission lags spacing out payments.
  • Check delays and mail issues completely out of your hands.

The Fix: Track aging claims weekly, follow up on 30+ day delays. Identify peak submission volumes causing backlogs. Streamline clearinghouse processes.

Patient Balances in Accounts Receivable

Overdue patient account balances can quickly pile up and remain untouched once insurance payments come in. Before you know it, tens or hundreds of thousands sit in accounts receivable past 30, 60, 90+ days outstanding. This ties your working capital down impeding daily operations and profitability. Common causes include:

  • Statements not sent promptly with clear payment options
  • Following up on unpaid balances falls through the cracks
  • No automated late fee assessments or reminders in place
  • Allowing balances to keep accruing without addressing

The Fix: Run aging reports monthly and reach out early on past-due accounts. Offer auto-pay enrollment and payment plan options. Automate late fees after 30 days and use collection agencies when required.

Does anything look familiar from headaches you face getting paid fairly as a chiropractor today? If so, pick 1-2 fixes to start with and implement them relentlessly for 90 days.

Still Struggling? Consider Olympus Chiropractic Billing Services

Even after addressing common chiropractic billing pitfalls, you may still feel overwhelmed optimizing your revenue. Outsourcing to a dedicated billing company could be the perfect solution if:

  • You lack specialized billing staff and expertise in-house
  • Your days remain stuffed juggling patient care responsibilities
  • You want to reduce work aggravations to focus on delivering excellent chiropractic care

That’s where Olympus Chiropractic Billing Services can help! With customized billing packages featuring:

  • Dedicated Billing Team – Experienced specialists exclusively managing your revenue cycle needs
  • Working with Your Software – Seamlessly connecting with your practice management platform
  • Charge Entry and Claim Submission – Accurately entering the data and prompt submitting of all claims
  • Payment Posting – Logging all payments into your system as received
  • Follow Up and Appeals – Relentlessly resolving unpaid/denied claims
  • Customized Reports – Providing real-time visibility into your revenue cycle performance
  • Patient Statements–Generating 30-60-90 accurate statement
  • Aging A/R Recovery – Utilizing best practices to collect past-due balances
  • Insurance Benefit Verification – Researching and conveying exact coverage parameters
  • Credentialing – Handling all required milestones to expand in-network

Reach out now to schedule a free evaluation and instant revenue recovery assessment! Discover how outsourcing billing to Olympus could help your practice thrive. Call (800) 216-2399 or visit https://OlympusChiro.com today!