The lobby and patient rooms of your practice are sparkling, your front desk associate always has a smile on his or her face, and you offer the best chiropractic care in town. From an outsider’s perspective, you’re thriving.
But at the core, you know things are about to come crashing down. You’re overwhelmed and overworked, and find yourself with your head barely above water when it comes to your administrative work.
Sound like you? You’re not alone. For many chiropractors, the paperwork is the hardest part of the job. Whether that’s insurance billing, follow-up appointment reminders or SOAP notes, the business side of your practice can be a beast. Insurance billing in particular is time intensive, and if you’re not bringing in the money you’ve budgeted for, it can create major problems for your business.
It doesn’t have to be that way.
Common Billing Challenges
One of the most common problems bubbling beneath the surface of chiropractic practices is billing challenges. That includes not collecting payments in a timely way, coding issues, or a lack of systems in place to help you get the work done.
Billing issues tend to sneak up on you. If you’re not seeing many patients, you’re well aware that you need to work on that. But billing problems slowly siphon off your revenue flow. You’re seeing patients, but money’s tight, and you’re not sure why.
It’s a problem that can creep into every aspect of your practice, including morale among the staff. If it’s the fault of your staff, the stress of not having a solid system in place can lead to them quitting or you firing them. No one wants to bear the blame of a failing business, and if the staff knows you’re not getting paid in a timely fashion, they could fear they’ll become the scapegoat. Quality of care suffers, and in the end, your practice is at risk of becoming insolvent.
So how do you fix the problem?
One way to cut the stress and collect the money you’re owed from insurance companies quickly is to outsource your billing. Outsourcing takes billing concerns off the plate of either you or your staff, leaving you with time to focus on what’s important. If you’re not sure whether you can afford to outsource your chiropractic billing, take some time to do the math.
- How many hours does your practice spend on it now?
- How many hours would you need to spend to do it successfully?
- How does that compare to the monthly cost of an outsourced system?
Most outsourced billing options for chiropractors cost between 6-10% of collections.
Billing software is another way to go if you decide to keep your billing in-house. From verifying eligibility to running accounts receivable, a robust billing software can make your life easier.
Either way, it’s important to have a system in place that lets you know who owes you money and when they owe it.
How Platinum Helps
Platinum offers in-house insurance billing. That means that we send out all the claims and post them, which saves you hours of valuable time. We’ll even do the follow up calls required on claims that aren’t paid. Relying on our team means less mistakes in paperwork that result in claims being denied.
Online eligibility can be performed through Platinum directly in the Platinum system, rather than you having to take the time to call and verify that your patient is covered. You still have full control of the billing without having to do the work!
No one’s perfect, and no one is good at everything. Billing is a pain for most businesses, so don’t feel bad if you’re overwhelmed by the numbers and all that goes into getting paid on time. We’re here to help! Our team of agents is trained specifically for chiropractic billing, so they know the ins and outs of coding and billing. You can trust that your reporting is up to date and correct when Platinum handles your insurance billing.
But we help in more ways than just billing. Our software is designed to help you keep track of all the things that influence your clinic’s success, including monthly patient visits, current and late accounts, missed appointments, new patients and even SOAP notes. It’s all paperless, and you won’t need additional Excel files or sticky notes to keep you organized.
Ready to make the switch? Contact us today to find out how to save time and money by letting Platinum’s team of 30+ agents handle your billing.