Healthcare professionals devote what feels like a lifetime to mastering their craft and helping people live more meaningful lives. But in all those years of learning, you probably didn’t take a masterclass in processing claims or getting patients to pay their bills.
Unfortunately, when physicians and their practices lack the experience or expertise in filling out claims correctly, insurance companies often reject those claims. Thus begins a back-and-forth process costing your practice precious time and money. In fact, inefficient claims processing can take a big bite out of your revenue, with one study finding that it costs an average of $118 to rework a denied claim.
To reduce the rate of claims getting rejected or denied, more and more healthcare providers are investing in claims-scrubbing solutions. Keep reading to learn more about claims scrubbing, why it’s important, and some common terms you need to know.
What Is Claims Scrubbing?
Claims scrubbing is the process of checking claims before submitting them to insurers to ensure that they’re accurate, complete, and have the correct codes. This increases the chances the insurer pays each claim quickly.
In the past, claims scrubbing was undertaken manually in what was a long, arduous process, particularly at larger practices. However, in the digital age, more and more physicians are either investing in purpose-built claims-scrubbing technology or partnering with expert billing teams to accelerate the process considerably.
With the right solution in place, practices get the peace of mind that comes with knowing they will get paid sooner by increasing the chances each claim sent to each carrier is accurate every time.
What Are the Benefits of Scrubbing Claims?
Now that you have a better idea as to what claims scrubbing is, let’s take a look at some of the main reasons your practice should invest in tools that improve the process.
Most importantly, claims scrubbing speeds up payment by improving the accuracy and completeness of the claims you submit. By reducing the number of rejected claims your practice will encounter, you can get the money you’re owed faster.
Better cash flow
With faster access to cash, your practice’s revenue improves. As a result, cash flow increases, making it easier to cover operating expenses and invest in other areas of your practice.
By ensuring that every claim you submit is timely and accurate, claims scrubbing leads to happier patients who are more likely to trust you over the coming years.
Since claims-scrubbing tools help practices go through the process faster — and since claims are less likely to be rejected or denied — the investment improves your practice’s productivity.
Instead of spending countless hours manually scrubbing each claim or resubmitting rejected claims over and over again, your team can focus on other important facets of your business — like delivering top-notch experiences to patients every time.
Claims Scrubbing: Popular Terms to Know
To round out your knowledge on the topic, here are some of the most common terms about the claims-scrubbing process.
A superbill is a form that outlines the services that were provided to a patient and when. This is the document that’s used to inform what goes into a claim.
2. Claim form
A claim form is a document that spells out why an insurer should pay either a practice or an individual. The information on a claim form comes from a superbill.
3. Claims editing
Claims editing is the process of reviewing claims, identifying errors, and putting the correct information on a form before it’s sent to an insurer. This ensures claims get paid faster.
4. Charge review
During the charge review process, practices compare their rates against the standard rates set by healthcare insurers, Medicare, and Medicaid.
5. Coding errors
When a healthcare worker enters the wrong information on a claim form, a coding error occurs. These errors often cause insurers to deny claims, which can frustrate patients and stifle cash flow.
Saving Time and Money with CollaborateMD
If you’re looking to add claims-scrubbing tools to your practice’s tech stack, CollaborateMD can help. We’ve worked with tons of practices like yours by expediting the revenue cycle process so that they can collect the money they’ve earned in less time while focusing more energy on their practices.
To learn more about how CollaborateMD can help improve your revenue stream, check out our revenue calculator.